BYD Electronic (International) Company Limited (285 HK) Investors are positive on the company entering the e-cigarette market. Previously, market news mentioned that the company completed deployments in the e-cigarette industry with several patents. Expectations are 40 production lines commencing mass production in June.The total value of production is estimated to be close to RMB10bn.
Geely Automobile Holdings Limited (175 HK) Management remains confident that the company will be able to achieve 1.56mn units vehicle sales this year, despite the shortage of automobile-use chips and the rising cost of raw materials. Citigroup raised its TP to HK$52.25 from HK$51.5 recently.
Great Wall Motor Company Limited (2333 HK) The company has signed a ten-year agreement with the country’s largest electric vehicle battery manufacturer Contemporary Amperex Technology Company, allowing it to strengthen its EV manufacturing strategy. The agreement will help the two partners leverage their respective strengths to help grow the new energy vehicle segment and contribute to China’s goal of reaching peak carbon emissions by 2030 and achieving carbon neutrality by 2060.
Smoore International Holdings Ltd (6969 HK) Shares plunged as foreign funds accelerated liquidation of the stock. JP Morgan sold 2.34mn shares on Friday. Investors are of the view that BYD Electronic (285 HK) will take more market share in the e-cigarette market.
New Oriental Education & Technology Group Inc (9901 HK) Shares closed at a 52-week low as headwinds such as regulations and removal from FTSE Russell index continued to be overhangs on the stock.
Trading dashboard: Nexteer Automotive (1316 HK) took profit at HK$11.1. Fuyao Glass Industry (3606 HK) was added at HK$49.5.