[stock market changes] Wuling Hongguang new energy vehicle sales have risen continuously and the share price has soared by more than 50%.

SMM10 March 15: Hong Kong stock Wuling Motors continued to pull up in the afternoon, and is now up more than 50%. As of press time, it rose 51.52% to HK $0.495.

On the news side, according to the September data, SAIC GM Wuling Hongguang MINI EV sales exceeded 20, 000 vehicles, once again topping the domestic new energy vehicle market sales champion. And Tesla in September sales of 11329 vehicles, no accident, it will further maintain the "top-selling" position.

It is understood that Wuling Hongguang previously launched a new A00-class new energy vehicle Hongguang MINI EV, with a range of 120-170km and a maximum speed of 100km. The price is only 28800-38800 yuan. Sales reached 7348 in July, 15000 in August and 20150 in September.

Prior to the interim results announcement, the company said that for the six months ended June 30, 2020, the total income of the group was 5.709 billion yuan, down 7.1% from the same period in 2019, and the gross profit was 250 million yuan, down 52.1% from the same period last year. The group recorded a net loss of 294 million yuan, compared with a net profit of 12.45 million yuan in the same period last year. The loss attributable to the owners of the company has increased significantly to 198.7 million yuan. Wuling explained that the decline in revenue was mainly affected by novel coronavirus, while the sharp decline in gross profit was mainly due to a significant decline in revenue from the group's auto parts and other industrial services divisions. coupled with the additional costs incurred by the adoption and implementation of necessary safety and health measures in the group's production facilities.

Citic Construction Investment pointed out that with the continuous launch of Tesla Model 3, BYD Han, Weilai ES6 and other models, there has been a qualitative leap in the product power of new energy vehicles, and popular models continue to promote consumers' awareness of new energy vehicles in the, to C market. At present, the domestic new energy vehicle market will enter the process of qualitative change, at the same time, the low-end market will also begin to enter the demand-oriented market, a comprehensive acceleration period.