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02238 GAC GROUP
RTNominal unchange3.170 0.000 (0.000%)
Research Report

04/06/2019 15:48

[I-bank focus]BYD & GAC to benefit from more licence plates

[ET Net News Agency, 4 June 2019] Over the weekend both Guangzhou and Shenzhen
announced increases in licence plate quotas over the coming 18 months. Guangzhou will
increase their new plates issued by 100k over the coming 18 months and Shenzhen will
increase by 80k over the same period.
HSBC Global Research estimated the easing of restrictions should boost national vehicle
demand by 0.3% and 0.1% in 2019 and 2020 respectively.
The research house said BYD (01211), GAC Group (02238) and Dongfeng Group (00489) will
be the greatest beneficiaries from the new plate quotas, given their largest exposures to
Guangdong. (KL)

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