Changes in Hong Kong stocks | Harmony Auto (03836) fell nearly 8% in early trading, BYD issued a document to regulate overseas price management systems

The Zhitong Finance App learned that Harmony Auto (03836) fell nearly 8% in early trading. As of press release, it decreased by 7.96% to HK$0.52, with a turnover of HK$5571,000.

According to the news, the Ministry of Commerce, the Ministry of Industry and Information Technology, and the General Administration of Market Regulation jointly issued the “Guidelines for Overseas Competition Conduct and Compliance Construction in the Automobile Industry”. BYD issued an article stating that it will follow the “Automobile Guidelines” and continue to improve the compliance management system for the entire overseas chain: standardize the overseas price management system, strictly abide by the bottom line of fair competition, and protect the legitimate rights and interests of consumers; at the same time, implement various regulatory requirements, consolidate localized services, fulfill corporate social responsibility, and help the Chinese automobile industry to go overseas with high quality.

According to public information, Harmony Auto is an overseas distribution agent for BYD and Tension. According to the company's interim results, revenue for the first half of the year was RMB 12.149 billion, up 26.07% year on year; shareholders' share loss was RMB 10.95 million, a year-on-year decrease of 14.42%. Hong Kong, China and overseas markets were the main drivers of growth, with sales reaching 40,183 vehicles, accounting for 77.8% of total sales.