I feel that the collective sharp correction of domestic new energy vehicle stocks this year is largely related to the mainland's vehicle purchase tax reform policy.

The 2026 new energy vehicle purchase tax regulation changed from full exemption to a 50% reduction. A large number of consumers bought cars early at the end of 2025, directly draining purchasing power from the first half of the year.

New energy vehicle stocks all peaked last September and have been falling for 10 consecutive months.

Personally, I think the market will soon see a wave of rebound and repair. The peak season for buying and replacing cars is coming soon, so it's impossible for stocks to keep falling for more than a year.

I am optimistic about a collective rebound in new energy vehicle stocks in the second half of the year.

The last time I bought Seres options, they have now dropped 90%, but every time they halved, I doubled my position.

Now I'm only down 40% in floating loss. If the stock rebounds by over ten percent, I'll break even. My current cost basis is around 5,000 HKD.

My goal is to build up a position worth 10,000 HKD to bet on multiple returns — leveraging small for big gains.