HU-BRIC@EC2602A

JPMorgan Maintains Hold Rating on Brilliance China Automotive Holdings

JPMorgan Downgrades Huarong China Rating to Neutral

HKEX Reveals Changes in Stock Holdings via Shanghai-Hong Kong and Shenzhen-Hong Kong Connect

UBS Raises Investment Expectations for Brilliance China Automotive

Brilliance China released FY2025 Q1 earnings on August 22 (BJT) with actual revenue of HKD 300.78 M and EPS of HKD 0.1805

Huachen China's Net Profit Up 15% to 1.7 Billion Yuan in H1

Brilliance China released FY2025 Q2 earnings on August 22 During-Market (BJT), actual revenue HKD 307.39 M, actual EPS HKD 0.1845

Brilliance China released FY2025 Semi-Annual earnings on August 22 During-Market (BJT), actual revenue HKD 608.17 M, actual EPS HKD 0.3651

Brilliance China FY2025 Semi-Annual Earnings Release on August 22, 2025 (BJT)

Brilliance China's Profit Slumps in First Half Due to BMW Brilliance

BMW China and Brilliance BMW File Car Recall Plan

Huachen China and TCL Industries Smart Cabin Production Base Project Progresses Smoothly

Huachen China's ESG Rating Results Announced

Huachen Automobile Delays Release of Continuous Related Party Transactions Circular

Huachen BMW Announces New CEO

Huachen China's stock price drops, BMW lowers estimates for EVs

Hong Kong's three major indices fell in the afternoon

Huachen China Signs Auto Sales and Service Agreement with Shenyang Auto

First Beijing Increases Stake in Brilliance China to 5.02%

Huachen Automobile Purchases 136 Units of Machinery to Enhance Car Manufacturing Capacity

STARCOIN GROUP

ALLEGRO CULTURE

WALNUT CAP

MANY IDEA CLOUD

XINHUA LANDE

CENTURY GINWA

HING LEE (HK)

HEALTHYWAY INC

GUANZE MEDICAL

PPS INT'L

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Chi Forest, a low-calorie drinks maker backed by Temasek, is considering an IPO in Hong Kong, following discussions with potential advisers. The company, formerly known as Genki Forest, has not finalized details regarding the IPO's size or timing. Chi Forest's valuation reached $15 billion in 2021, and it has seen significant growth since its founding in 2016. If it proceeds, Chi Forest would join other Chinese beverage companies that have recently listed in Hong Kong, despite a competitive market.

Businesstimes News

Brilliance China

Temasek-backed fizzy drinks maker Chi Forest considers Hong Kong IPO: sources

Brilliance China (1114.HK) saw a significant inflow of funds during yesterday's trading session, forming a golden cross on the daily chart, with the MACD turning positive at the bottom, indicating clear signals of short-term bottom stabilization. The K-line closed positively with a moderate increase in trading volume, suggesting that a bullish dominance pattern has begun to establish itself. The automotive sector is benefiting from favorable policies, which has overall boosted short-term sentiment, with leading stocks in the sector strengthening and attracting follow-up funds, leading to a recovery in market risk appetite. 

From a technical perspective, Brilliance China’s 5-day and 10-day moving averages have crossed positively, with support levels rising, further strengthening bullish sentiment. The intraday structure is good, with active fund movements and strong buying interest at lower levels, indicating robust support from the main players. If the trading volume continues to cooperate, a continuation of the rebound trend cannot be ruled out. 

On the industry level, expectations for favorable policies in the new energy vehicle sector have increased, and leading stocks have significant valuation recovery potential, attracting value-oriented and trend-following funds. Technical and quantitative funds are beginning to pay attention to sector rotation opportunities, and the automotive sector may temporarily become a safe haven for funds. 

Operational advice: In the short term, pay attention to the strength of support near the moving averages during pullbacks; if the trend of fund inflows continues, long positions can be appropriately followed. At the same time, monitor changes in overall market sentiment and the speed of policy implementation to seize swing trading opportunities. Risks to be wary of include volatility in leading industry stocks, macroeconomic negative disturbances, and sudden changes in sector rotation rhythm. Following the market on the right side still requires setting stop-losses and dynamic risk controls to guard against high-level pullback pressures. Moving forward, focus on dynamically tracking trading volume and policy variables to flexibly adjust trading styles

Technical Forecast

Morning Trend | Brilliance China sees capital inflow, boosting sentiment in the automotive sector

J.P. Morgan analyst Nick Lai maintained a Hold rating on Brilliance China Automotive Holdings with a price target of HK$4.10. The shares recently closed at HK$4.18. Lai, who covers the Consumer Cyclical sector, has an average return of -0.7% and a 41.51% success rate. The analyst consensus for Brilliance China is Moderate Buy with a price target of $0.57.

Tip Ranks

Brilliance China Automotive Holdings (BCAUF) Gets a Hold from J.P. Morgan

In a report released on December 9, from Citi maintained a Buy rating on Brilliance China Automotive Holdings, with a price target of HK$4.80. The company’s shares closed yesterday at HK$4.31.TipRanks Cyber Monday Sale Claim 60% off TipRanks Premium for data-backed insights and research tools you need to invest with confidence. Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off Brilliance China Automotive Holdings has an analyst consensus of Hold.

Brilliance China Automotive Holdings (BCAUF) Receives a Buy from Citi

STECH

TCEHY

TCTZF

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The Hang Seng Index closed at 25,549 points, down 215 points or 0.8%; the Hang Seng TECH Index reported 5,587 points, down 74 points or 1.3%. XINYI GLASS fell 6.2%, while Brilliance China reached a new high. Major stocks such as Xiaomi, Meituan, Ping An, Tencent, Hong Kong Stock Exchange, and Alibaba generally declined. WuXi Biologics rose 3%, while Yixin Group and Lion Rock Holdings increased by 11.5% and 11%, respectively

AASTOCKS

Hang Seng TECH Index

Tencent

Tencent Holdings Limited

TENCENT

XINYI GLASS

The Half-Day Report: The Hang Seng Index closed at 25,549 points, down 215 points; the Hang Seng TECH Index closed at 5,587 points, down 74 points. XINYI GLASS fell over 6%, while Brilliance China hit a new high

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ZHONGSHENG HLDG's stock price fell 1.3%, closing at HKD 11.69, with a trading volume of approximately 810,000 shares, involving HKD 9.48 million. Porsche is considering gradually exiting the Chinese market due to a decline in delivery volumes and plans to reduce the number of dealers by 2026. Automotive dealership stocks generally fell, with Brilliance China down 1.3% and HARMONY AUTO down 2.5%. The Hang Seng Index fell by 146 points, closing at 26,339 points

etnet

HARMONY AUTO

ZHONGSHENG HLDG

In the "Active Stocks," Zhongsheng fell by over 1%, rumored that Porsche plans to gradually exit the Chinese market

According to Nanjing Daily, on October 23, Nanjing Municipal Party Secretary Zhou Hongbo met with Brilliance BMW President and CEO Ewan McDonald and his team

Zhitong

Nanjing Municipal Party Committee Secretary Zhou Hongbo meets with Brilliance BMW President and CEO Dr. Ian Robertson

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XPEV

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Automobile stocks expanded their losses in the afternoon trading, with XPeng leading the decline, down 4.83%, at HKD 78.8. Great Wall Motor fell 4.02%, GAC Group dropped 3.5%, and Brilliance China decreased by 2.8%. The State Administration for Market Regulation stated that it will strengthen regulation of the automotive industry, including innovating the recall supervision system and regulating issues related to false advertising. Nio responded to the lawsuit from the Government of Singapore Investment Corporation, stating that the case stems from false allegations in 2022

- Automotive stocks experienced significant declines, with Xpeng Motors down 4.83% and Great Wall Motors down 4.02% as of the latest update.  
- The National Market Regulation Administration announced new regulations at the 2025 World Intelligent Vehicle Conference, including a recall system for electric vehicles and measures to combat false advertising.  
- Additionally, NIO responded to a lawsuit from the Government of Singapore Investment Corporation, clarifying that the case is based on unfounded claims from a 2022 short-selling report.

Great Wall Motor

GWMOTOR

XPeng

XPENG-W

GAC Group

GAC GROUP

Understanding the Market | Auto stocks' decline widened in the closing hours, with XPeng leading the sector. The State Administration for Market Regulation stated it will strengthen regulation related to the automotive industry

Automobile stocks turned lower in the afternoon, with Brilliance China falling over 4%. UBS pointed out that the increase in the tax exemption threshold for new energy vehicles may affect market sentiment. Although most automakers can meet the new standards, policy updates may be stricter. The Passenger Car Association is expected to raise its growth forecast for the automotive market in 2025. Shenwan Hongyuan stated that the end of automobile subsidies and the expiration of the tax exemption policy for new energy vehicles next year will increase the cost of purchasing vehicles, and there may be a rush to buy in the fourth quarter

Understanding the Market | Auto Stocks Turned Down in the Afternoon, Brilliance China Fell Over 4%, UBS Said Increased Tax Exemption Threshold for New Energy May Be Unfavorable to Market Sentiment

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Automobile stocks collectively declined, with XPeng down 4.51%, Li Auto down 2.91%, Brilliance China down 3.12%, and Great Wall Motor down 0.42%. On October 9th, the Ministry of Industry and Information Technology, the Ministry of Finance, and the State Administration of Taxation issued new regulations on the purchase tax exemption for new energy vehicles, clarifying the technical standards for the next two years, stating that plug-in hybrid vehicles must have an electric-only range of no less than 100 kilometers. Shenwan Hongyuan pointed out that starting next year, the new energy vehicle purchase tax will be halved, increasing the cost of purchasing vehicles, and the market may see a rush to buy

- Automotive stocks have collectively declined, with Xpeng Motors down 4.51% and Li Auto down 2.91%.  
- On October 9, the Ministry of Industry and Information Technology, Ministry of Finance, and State Taxation Administration announced specific technical standards for the purchase tax exemption policy for new energy vehicles for 2026-2027.  
- The new policy introduces updated requirements for electric and plug-in hybrid vehicles, while a recent report indicates that subsidies are nearing an end, potentially leading to increased costs for consumers starting next year.

Li Auto

LI AUTO-W

Understanding the Market | Automotive stocks collectively declined as three departments issued new regulations on the exemption of purchase tax for new energy vehicles, raising the technical threshold for tax exemption

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The Hang Seng Index closed at 27,049 points, down 237 points or 0.9%; the Hang Seng Tech Index reported 6,586 points, down 96 points or 1.4%. The National Index fell 100 points or 1.0%, reporting 9,624 points. BYD Company fell over 4%, while XPeng, Kuaishou, and Li Auto all experienced declines. Shanghai Electric, China General Nuclear Power Corporation Mining, Jiangxi Copper, MicroPort Scientific Corporation - B, and Brilliance China reached new highs

Shanghai Electric

SH ELECTRIC

The Half-Day Report: The Hang Seng Index closed at 27,049 points, down 237 points; the Hang Seng Tech Index closed at 6,586 points, down 96 points. BYD shares fell over 4%. Shanghai Electric, China General Nuclear Power Corporation Mining, Jiangxi Copper, MicroPort Scientific Corporation - B, and Brilliance China hit new highs

According to the latest data from the Hong Kong Stock Exchange, on September 5th, shareholders of Brilliance China transferred their stocks from the Hong Kong Stock Connect (Shanghai) to HSBC Hong Kong, with a transfer market value of HKD 335 million, accounting for 2.01%. Brilliance China's mid-term performance for 2025 shows that the company achieved revenue of RMB 562 million, an increase of 8.43% year-on-year; profit attributable to shareholders was RMB 1.701 billion, an increase of 15.49% year-on-year; basic earnings per share were RMB 0.33723; and a mid-term dividend of HKD 0.8 per share is proposed. In addition, BMW Group announced that the first mass-produced model of the new generation, the BMW iX3, will have its global debut tomorrow. It is reported that the China-exclusive version of the first mass-produced model, the BMW iX3, will be produced domestically in 2026

Brilliance China shareholders will transfer their stocks from Hong Kong Stock Connect (Shanghai) to HSBC Hong Kong with a transfer value of HKD 335 million

Brilliance China rose over 6%, as of the time of writing, up 6.31% to HKD 3.37, with a trading volume of HKD 305 million. In terms of news, Brilliance China's mid-term performance for 2025 shows that the company achieved revenue of 562 million yuan (RMB, the same below), an increase of 8.43% year-on-year; profit attributable to shareholders was 1.701 billion yuan, an increase of 15.49% year-on-year; basic earnings per share were 0.33723 yuan; and it plans to distribute an interim dividend of HKD 0.8 per share. In addition, BMW Group announced that the first mass-produced model of the new generation, the BMW iX3, will have its global debut tomorrow. It is reported that the China-exclusive version of the first mass-produced model of the new generation, the BMW iX3, will be produced domestically in 2026

Understanding the Market | Brilliance China rises over 6% as the company's profits improve in the first half of the year; the new generation BMW will have its global debut tomorrow

HU-BRIC@EC2602A(19375.HK)

Temasek-backed fizzy drinks maker Chi Forest considers Hong Kong IPO: sources

Morning Trend | Brilliance China sees capital inflow, boosting sentiment in the automotive sector

Brilliance China Automotive Holdings (BCAUF) Gets a Hold from J.P. Morgan

Brilliance China Automotive Holdings (BCAUF) Receives a Buy from Citi

The Half-Day Report: The Hang Seng Index closed at 25,549 points, down 215 points; the Hang Seng TECH Index closed at 5,587 points, down 74 points. XINYI GLASS fell over 6%, while Brilliance China hit a new high