Automotive stocks in Hong Kong saw broad gains today. At the time of writing, SERES (09927) rose nearly 5% to HK$96.85. BYD COMPANY (01211) advanced 4.56% to HK$99.8. XPENG-W (09868) increased by 3.83% to HK$70.45, while LI AUTO-W (02015) climbed 3.57% to HK$72.6.

The positive movement follows recent developments. On February 20 local time, the U.S. Supreme Court ruled that the Trump administration's policy of imposing large-scale tariffs was unlawful. Former President Trump had initially announced a 10% tariff on global goods on top of regular duties and later indicated that the global import tariff rate would rise to 15%.

In related industry news, Cui Dongshu, Secretary General of the China Passenger Car Association, stated that China's automotive production and sales system overseas has completed a critical transition towards "industrial出海" (industrial going global). A research report from Founder Securities noted that the auto market faced short-term pressure in January due to seasonal off-peak factors and the after-effects of earlier policy-driven purchases. However, as replacement subsidy policies are gradually implemented across regions, terminal demand is expected to recover at an accelerated pace. Exports continued their strong performance, helping to smooth out industry fluctuations. The report forecasts that China's auto exports will reach 6.34 million units by 2026, representing a year-on-year increase of approximately 13%, and are expected to account for over 20% of total production volume.