Daiwa: Mainland NEV orders fell 6% month-on-month in the 35th week, and the performance of JiKrypton and Xiaopeng Motor-W (09868) are relatively resilient

The Zhitong Finance App learned that Yamato released a research report saying that according to weekly NEV order data, China's NEV market weakened in the 35th week, with total orders falling 6% month-on-month to 124,000 vehicles. Orders from August to now have reached 514,000 vehicles, down 33% from the previous month, indicating weak overall demand at the end of the month.

At the brand level, Geely Auto (00175)'s Jikrypton recorded the strongest month-on-month growth, with an increase of 14%; Xiaopeng Automobile-W (09868) and Ideal Automobile-W (02015) also grew 10% and 6% respectively, outperforming the market. In contrast, orders from Hongmeng Zhixing plummeted 34% month-on-month.

Looking ahead, Yamato expects that with the support of the launch of new models and improved performance of individual brands, order momentum will be generally stable, but fierce competition in the industry and uneven demand from different car companies may keep overall market growth moderate.