HK Stock Market Move | Car stocks rose across the board today. GEELY AUTO (00175) surged more than 5%, while LEAPMOTOR (09863) rose more than 4%.

Car stocks experienced a general rise today. As of press time, GEELY AUTO (00175) rose by 5.61% to HK$16.01; LEAPMOTOR (09863) rose by 4.63% to HK$40.24; XPENG-W (09868) rose by 3.93% to HK$66.15; Great Wall Motor (02333) rose by 2.96% to HK$12.87. On the news front, this year's government work report proposed the implementation of a trade-in program for consumer goods, promoting the commercialization and scale application of artificial intelligence, and cracking down on "involution-style" competition. Shanxi pointed out that within the context of the guidance policy against involution, the automotive industry is expected to accelerate towards high-quality development representing technology and innovation by 2026, replacing the previous price competition. Intelligent and lightweight technologies are expected to become the two major "increments" in the automotive industry. Noteworthy is that on March 5th, BYD Company Limited held a second-generation blade battery and flash charging technology release conference, highlighting the new generation blade battery which has achieved upgrades in flash charging speed, energy density, safety, and lifespan, emphasizing "5-minute charging to sufficient, 9-minute charging to full, only an extra 3 minutes at -30C". Shenwan Hongyuan Group noted that the release of new technology by XiaoPeng and BYD Company Limited would trigger a flurry of investment activities. EB SECURITIES stated that from March to April, multiple car manufacturers are about to unveil several heavyweight new models, with short-term focus on the rising cost of financial performance.