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<Research>UBS: CN Auto Industry Targets High Growth; Exports & Intelligence Take Center Stage
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At the 2026 Greater China Conference, UBS said China's auto industry, despite setting an average sales growth target of 19%, may still face challenges in domestic demand and profit margins due to reduced stimulus measures, increased purchase taxes, and rising commodity prices. UBS suggested that investors should focus on companies with overseas market expansion capabilities and advantages in intelligent technology. With China nearing an agreement with the EU on minimum prices for electric vehicles (EVs) and Canada's decision to reduce tariffs on Chinese EVs to 6.1%, the export market has become a crucial driver for industry growth. Against this backdrop, GWMOTOR (02333.HK) plans to export 600,000 cars in 2026, while SINOTRUK (03808.HK) aims to expand into the Brazilian and European markets. In addition, the shift towards intelligence is driving industry transformation. PONY-W (02026.HK) and WERIDE-W (00800.HK) aim to add more than 2,000 Robotaxis, while MINTH GROUP (00425.HK) is concentrating on developing robotic components and AI server liquid cooling technology. UBS prefers autonomous driving solution providers WERIDE-W (00800.HK) and PONY-W, as well as LiDAR maker HESAI-W (02525.HK). On the export theme, it favors automakers like BYD COMPANY (01211.HK) and GWMOTOR that have established significant global market presence. AAStocks Financial News |
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