China's assets continue to soar! Some stocks have pulled more than 70%......

During the May Day holiday, Chinese assets continued to soar.

Following the sharp rise on May 2, Hong Kong stocks continued to perform strongly on May 3, with the Hang Seng Index and the Hang Seng Technology Index rising more than 2% and 4% intraday. At the same time, the offshore yuan exchange rate performed strongly, and the offshore yuan rose above 7.19 against the US dollar during the day, hitting the strongest level since March, and so far, the yuan has risen against the US dollar for three consecutive days.

Last night, U.S. stocks and Chinese concept stocks also broke out across the board, with the Nasdaq China Golden Dragon Index rising 6.01%, a new closing high since the end of November last year, and the largest one-day increase since the end of July last year.

Guotai Junan said that Hong Kong stocks have risen sharply, and the renminbi has also strengthened significantly, coupled with the mainland holiday, southbound funds cannot participate in Hong Kong stocks, superimposed this information, it can be clearly found that overseas investors should be the new force to promote the rise of Hong Kong stocks.

Specific to today's Hong Kong stocks, the auto sector and the real estate sector are strong. In terms of abnormal stocks, Kuaigou Taxi rose by more than 70% in intraday trading.

Auto stocks moved sharply higher

Today, Hong Kong stocks opened sharply higher, and then the gains retreated. As of midday close, the Hang Seng Index rose 1.14%, up more than 2% at one point, and the Hang Seng Tech Index rose 2.07%, up more than 4% at one point.

Auto stocks rose sharply, among which Evergrande Automobile once rose more than 20%, and as of press time, it rose more than 10.64%.

On April 30, Evergrande Auto released its 2023 annual report on the Hong Kong Stock Exchange. According to the report, Evergrande Automobile's turnover in 2023 will be 1,340.15 million yuan, an increase of 900.04% year-on-year, and the increase in revenue is mainly due to the increase in sales of automobiles and auto parts from 60.63 million yuan as of 2022 to 146.32 million yuan in the reporting period, and the increase in revenue from property sales by 1,136.37 million yuan. In addition, during the reporting period, Evergrande Automobile suffered a loss of 11.995 billion yuan.

According to the company's previous announcement, as of December 31, 2023, Evergrande Automobile has produced a total of 1,700 Hengchi 5 vehicles off the assembly line, with a cumulative delivery of more than 1,389 vehicles. "During the reporting period, the group was affected by external and internal factors, production and sales did not meet expectations, the company faced operational difficulties, and the stability of business activities such as R&D, production and sales and the stability of the workforce was affected. Evergrande Automobile said.

In terms of other auto stocks, Wind market data shows that Xiaopeng Motors and Li Auto once rose more than 9%, and Leapmotor, Guangzhou Automobile Group, Geely Automobile, BYD shares, and Weilai once rose more than 3%, however, as of press time, the gains of all stocks have fallen, and Weilai has turned green, falling more than 1%.

Recently, a number of new energy vehicle companies have announced their sales results for April 2024, and the overall growth is relatively bright.

BYD temporarily ranked first among domestic electric vehicle companies with 313245 sales, a year-on-year increase of 49%, and a total of 939508 vehicles were delivered throughout the year, a year-on-year increase of 23.24%;

NIO delivered 15,620 new vehicles in April, up 134.6% year-on-year, and delivered a total of 45,673 vehicles during the year, up 21.2% year-on-year.

Xpeng Motors delivered 9,393 vehicles in April, up 33% year-on-year and 4% month-on-month, and delivered a total of 31,214 vehicles during the year, up 23% year-on-year.

Li Auto delivered 25,787 vehicles in April, a year-on-year increase of 0.4%, with a total of 739551 vehicles delivered;

ZEEKR delivered 16,089 vehicles in April, a year-on-year increase of 99% and a month-on-month increase of 24%, setting a new record high;

Leapmotor delivered 15,005 vehicles in April, a year-on-year increase of 72%;

VOYAH delivered 4,003 vehicles in April, up 20% year-on-year.

Real estate stocks collectively rose sharply

In addition to auto stocks, real estate stocks also performed well in early trading.

As of press time, Baishida Holdings, Lingyue Service Group, Capital Juda, E-House Enterprise Holdings, China Urban Infrastructure, and China SCE Commercial Management rose by more than 10%.

On the news side, on May 3, the Shanghai Real Estate Industry Association and the Shanghai Real Estate Brokerage Industry Association actively responded to the 5th Shanghai "55 Shopping Festival" and jointly proposed to launch the "old for new" activity of commercial housing in Shanghai. The event aims to facilitate residents to replace their houses through the "trade-in" model, and better support residents' reasonable gradient home purchase needs. It is reported that more than 20 real estate development enterprises and nearly 10 real estate brokerage institutions participated in the first batch of initiatives. The first batch of more than 30 projects participated in the initiative, mainly distributed in Jiading, Songjiang, Qingpu, Fengxian, Lingang and other regions.

Fast dog taxi soars 70%

In terms of large changes in individual stocks, Kuaigou Taxi rose sharply in the intraday, once rising by more than 70%, and as of press time, it is still up more than 60%.

According to public information, GoGox is a major online intra-city logistics platform in Asia, operating in more than 370 cities in six countries and regions in Asia (i.e. Chinese mainland, Hong Kong, Singapore, South Korea, India and Vietnam), and owns and operates two highly recognized and trusted brands in the field of online intra-city logistics: Gogox in Chinese mainland and GOGOX in other Asian countries and regions.

According to the company's latest financial report, in 2023, the company will achieve revenue of about 753 million yuan, a year-on-year decrease of 2.6%. Gross profit was RMB258 million, down 1.4% year-on-year. The loss further narrowed to approximately RMB170 million by 25.6% from the previous year.

Editor-in-charge: Wan Jianyi

Proofreading: Yang Lilin

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