Economic Information Daily (13th exclusive) Car stocks generally declined, XPeng Group (09868) dropped 4%, closing at HK$36.94; Leapmotor (09863) fell 3%, closing at HK$35.22; BYD (01211) declined 1.8%, closing at HK$73, marking two consecutive days of decline with a cumulative drop of 3.4%; Geely Automobile (00175) rose 0.3%, closing at HK$15.15.
China's Ministry of Finance and State Taxation Administration announced that starting from April 1 next year, the value-added tax export rebate rate for new energy vehicles will be significantly reduced from 13% to 9%, effectively increasing the export costs for new energy vehicle manufacturers.
Cui Dongshu, head of the Passenger Car Association, believes that although the adjustment of export tax rebate policy may increase export costs in the short term and intensify industry differentiation, the overall impact is limited and will not reverse the export growth trend. It will also help reduce overseas anti-subsidy investigation grounds, ease trade frictions, and encourage automakers to enhance product value-added and accelerate overseas localization.
Currently, the Hang Seng Index stands at 24,069, down 201 points or 0.8%, with main board turnover exceeding HK$35.2 billion. The Hang Seng China Enterprises Index is at 8,091, down 77 points or 0.9%. The Hang Seng Tech Index is at 4,069, down 100 points or 2.4%. (am)
(am)
China's Ministry of Finance and State Taxation Administration announced that starting from April 1 next year, the value-added tax export rebate rate for new energy vehicles will be significantly reduced from 13% to 9%, effectively increasing the export costs for new energy vehicle manufacturers.
Cui Dongshu, head of the Passenger Car Association, believes that although the adjustment of export tax rebate policy may increase export costs in the short term and intensify industry differentiation, the overall impact is limited and will not reverse the export growth trend. It will also help reduce overseas anti-subsidy investigation grounds, ease trade frictions, and encourage automakers to enhance product value-added and accelerate overseas localization.
Currently, the Hang Seng Index stands at 24,069, down 201 points or 0.8%, with main board turnover exceeding HK$35.2 billion. The Hang Seng China Enterprises Index is at 8,091, down 77 points or 0.9%. The Hang Seng Tech Index is at 4,069, down 100 points or 2.4%. (am)
| Stock (Code) | Current Price (HK$) | Change (%) |
|---|---|---|
| BYD (01211) | 73 | Down 1.82% |
| Li Auto (02015) | 44.06 | Down 1.87% |
| Geely Automobile (00175) | 15.15 | Up 0.26% |
| XPeng Group (09868) | 36.94 | Down 4% |
| Leapmotor (09863) | 35.22 | Down 2.98% |
| Xiaomi (01810) | 24.46 | Down 0.24% |
| Seres (09927) | 41.5 | Up 6.63% |
| Great Wall Motor (02333) | 7.07 | Down 1.33% |
| Guangzhou Automobile Group (02238) | 2.16 | Down 1.82% |
