Shares of Chinese language electric-vehicle makers rose Tuesday in Hong Kong, led by Li Auto Inc., after robust December supply information.
Li Auto’s shares
2015,
rose after it posted record-high month-to-month supply figures for December final Friday, rounding out 2022 with a 47% improve in deliveries for the 12 months.
The automobile maker mentioned December deliveries rose 51% from a 12 months earlier, and mentioned it was “the quickest rising new vitality automaker in China to surpass the 20,000 month-to-month supply mark.”
Li Auto’s shares had been up by as a lot as 8.4% in early Tuesday buying and selling. Town’s benchmark Grasp Seng Index
HSI,
was final up 0.7%.
Though China’s persistent supply-chain shortages stemming from Covid restrictions slowed manufacturing and gross sales, Chinese language electric-vehicle makers capped a wild 12 months with robust supply outcomes.
NIO Inc.
9866,
delivered 122.486 automobiles for 2022, up about 34%, whereas XPeng Inc.’s
9868,
deliveries had been 23% greater in contrast with 2021.
BYD Co.
1211,
reported a 150% improve in December gross sales, regardless of manufacturing being disrupted by the unwinding of COVID-related measures within the ultimate two weeks of the month. Citi analysts mentioned in a observe that they contemplate BYD a key winner of consolidation within the sector, and maintained a purchase score on the inventory with a goal value of 640 Hong Kong {dollars} (US$81.98). BYD shares had been final up 3.1% at HK$198.4.
Trying forward, Citi analyst Jeff Chung initiatives EV gross sales in China might develop one other 33% in 2023.
Shares of Li Auto had been final up 8.3% at HK$83.15, whereas these of XPeng had been 5.1% greater at HK$40.3. NIO shares had been final 2.6% greater at HK$80.5.