Chinese EV Stocks Surge on Strong June Delivery Data
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- Hong Kong-listed shares of Chinese electric vehicle makers BYD and Xiaomi surged Thursday following robust June delivery figures.
- BYD reported over 400,000 units sold in June, while Xiaomi surpassed 30,000 deliveries for the third month running.
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Chinese electric vehicle makers BYD and Xiaomi saw their Hong Kong-listed shares surge following the release of strong June delivery figures, indicating positive investor sentiment.
Hong Kong-listed shares of Chinese electric vehicle makers surged Thursday after June delivery figures buoyed investor sentiment, with BYD gaining around 9% and Xiaomi climbing about 5%.
Xiaomi reported its third consecutive month of having over 30,000 deliveries in June. The company's shipments from January to June totaled over 180,000 units, representing about 33% of its 2026 delivery target of 550,000 units, according to Citi.
Citi said Xiaomi's shares could rebound in August with the launch of its YU9 luxury sport utility vehicle.
"Any sign of memory peaking given more capex announcement from global Chinese memory makers could be positive to Xiaomi shares," it added.
Meanwhile, BYD posted a vehicle sales volume of 403,472 units in June, up 5.46% from 382,585 units in the same period a year ago.
Deutsche Bank said BYD's second-quarter sales volume rose 58% from the previous quarter to 1.1 million units.
"We forecast the company's quarterly net profit to increase 145% QoQ to RMB 10 billion in the second quarter," according to a note by Deutsche Bank.
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Xiaomi shares could rebound in August with the launch of its YU9 luxury sport utility vehicle.
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Offene Fragen
- Will the positive momentum continue in July?
- How will the YU9 SUV launch impact Xiaomi's market share?
