New energy vehicles have become the core growth engine for independent brands going overseas. Focus on the Hong Kong Stock Connect Auto ETF E Fund (159121) valuation recovery opportunity.

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As of the close, the Hang Seng Hong Kong Stock Connect Auto Theme Index rose 1.8%, the CSI Smart Electric Vehicle Index fell 1.5%, and the CSI Auto Parts Theme Index declined 1.6%.

New car-making forces have successively released their March delivery results: Leap Motor delivered 50,029 vehicles in March, a year-on-year increase of 35%; Li Auto delivered 41,053 vehicles, up 12% year-on-year; NIO delivered 35,486 vehicles, a year-on-year increase of 136%. Data from the China Association of Automobile Manufacturers shows that in the first two months of 2026, automobile exports totaled 1.35M units, a year-on-year increase of 48.4%, with new energy vehicle exports reaching 583k units, a surge of 110%. New energy vehicles have become the core growth engine for domestic brands going global.

Daily Economic News

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