Hong Kong-listed automotive stocks experienced a significant rally and rebound on July 2nd.

Notably, BYD COMPANY (HKEX: 01211) shares surged over 7%, while LEAPMOTOR (HKEX: 09863) saw gains exceeding 6%. Other major players also posted strong gains, with several companies advancing by approximately 4% to 6%.

The positive momentum followed the release of June delivery figures from several new energy vehicle manufacturers. LEAPMOTOR led the pack with deliveries surpassing 90,000 units, a commanding lead. Two other major brands also reported deliveries exceeding the 40,000-vehicle mark. Byd Company Limited reported total June sales reaching 403,500 vehicles, with overseas exports hitting a new record high, solidifying its role as a primary growth driver.

Data from the China Passenger Car Association indicated that while nationwide passenger vehicle retail sales from June 1st to 21st saw a year-on-year decline, the retail penetration rate for new energy vehicles reached 63.8%. Industry analysis highlights that the contrast between cooling traditional fuel vehicle sales and heating new energy vehicle demand is the central theme of the current Chinese auto market.

Multiple financial institutions share an optimistic outlook on the export prospects for Chinese automobiles. The profit per vehicle in overseas markets significantly outpaces domestic margins, representing a crucial avenue for domestic brands to achieve profitability breakthroughs. Europe has emerged as the largest export market, with its share projected to potentially rise from the current level to 16% by 2030.