The escalation of the industry war, Huawei's concept stocks, the increase in uncertainty in overseas markets and the siphon effect of the concept of artificial intelligence have led to pressure on the auto sector of A-shares and Hong Kong stocks recently.
Text: "Autobots" Zhang Heng.
Recently, the A-share and Hong Kong-listed auto sectors have continued to slump, in stark contrast to the growth of domestic auto market sales.
December 8**, A-share auto sectorDown 130%, in the last 1 4 position of the industry sector;Hong Kong stock auto sectorDown 233%, in the bottom 1 10 position of the sector rankings, the performance is not as good as **.
** The war has lowered the profits of car companies
According to the data of the Passenger Car Association, the retail sales of passenger cars in November 2023 were 20970,000 units, a year-on-year increase of 255%。Among them, the sales volume of new energy passenger vehicles was 8410,000 units, a year-on-year increase of 398%, an increase of 89%。
However, **of** is the opposite of this. The A-share auto sector has been in the past 8 trading days7 days down, and the Hong Kong stock auto sector in the past 11 trading days10 days down
An important reason for this phenomenon is that in order to seize market share and complete the annual sales target, car companies have launched a new round of first-class war, resulting in vicious competition in the market and early release of demand. However, the profit margins of car companies have also been pulled down, which investors do not want to see.
Since the end of November, more than 15 brands have joined the new round of ** battle, covering almost all of the best-selling models. Affected by this, BYD's share price has fallen sharply since mid-November, falling by more than 20%. The performance of Hong Kong stocks and U.S. stocks, represented by Weilai, Xpeng and Ideal, is also unsatisfactory.
Huawei's concept stocks are at a high level**
In addition to the first war, Huawei's smart car concept stocks have seen a high trend.
There are two main types of Huawei automotive concept stocks, one is the vehicle stocks that have cooperative relations with Huawei, such as Cialis, JAC, BAIC Blue Valley, etc.;The other category is parts stocks that cooperate with Huawei, such as Shenglong shares, Mingke Jingji, etc.
In the third quarter, Huawei's automotive concept was sought after by funds. However, from the end of November to the beginning of December, some investors chose to lock in profits, resulting in the concentration of these **, with declines ranging from 10% to 30%.
Although Huawei has made it clear that it does not build cars and is only a solution provider for smart cars, the market still has high hopes for Huawei cars, believing that Huawei can drive intelligence and innovation in the automotive industry. At present, the market expects that Huawei Intelligence can lead the industry and bring competitive advantages. But this kind of concept-based hype is difficult to achieve long-term stability**.
Uncertainty in overseas markets is increasing
The ** of auto stocks is also related to the uncertainty of the overseas new energy vehicle market.
The European Commission's countervailing investigation into electric vehicles made in China continues to ferment. In early December, the U.S. House of Representatives passed the CARS Act, which aims to prevent Biden from implementing strict car emissions regulations. These events show that the support for new energy vehicles in Europe and the United States has weakened, the timetable for phasing out fuel vehicles may be delayed, and the global development of new energy vehicles may be less than expected.
This is an unfavorable sign for China's huge new energy production capacity, especially for car companies with overseas intentions.
At present, Chinese NEV companies still face many challenges in overseas markets, such as technical standards, market recognition, policy support, brand influence, etc. The uncertainty of overseas markets has increased the risk of Chinese NEV companies going overseas, which will also affect their competitiveness and influence in the global market.
The siphon effect of AI fever
The ** of auto stocks is also related to the re-heating of artificial intelligence. Since 2023, artificial intelligence concept stocks and new energy track stocks have shown a seesaw effect: when artificial intelligence stocks rise, new energy vehicle stocks will fall, and vice versa. This is due to the lack of incremental funds in the market, and investors must sell one to buy one.
In early December, Google released a new AI model, Gemini, which was hailed as the "future of AI" and sparked hype in overseas markets. The domestic A** field followed again, and the concept of artificial intelligence stocks rose sharply, but it also made the attractiveness of new energy vehicle stocks relatively weakened, and funds were diverted and transferred.
The ** of auto stocks is caused by a variety of factors, reflecting the competition and challenges of the automotive industry, and also affecting investor earnings and confidence.
Despite the recent poor performance of auto stocks, with the advancement of technology and policy support, the cost of new energy vehicles and smart vehicles will be reduced, and the improvement of performance and innovative features will further stimulate market demand. Short- and medium-term market fluctuations are difficult to change the long-term positive trend of the industry. 【Copyright Notice】This article is the original manuscript of "Autobots", and it is not allowed to be unauthorized **.