With the recovery of factory capacity and the launch of new models, China’s NEV sales are expected to reach 543,000 – 553,000 units in June, CITIC Securities said in a note on Wednesday.
The consumption of electricity in the Chinese provinces of Shandong and Henan reached records this week, mainly driven by the use of air conditioning as heat waves spread across regions north of the Yangtze river.
Hong Kong stocks open lower on Wednesday, with the benchmark Hang Seng Index down 0.42%, the Hang Seng China Enterprises Index down 0.52% and the Hang Seng Tech Index down 0.48%.
Hong Kong stocks open higher on Tuesday, with the benchmark Hang Seng Index up 0.48%, the Hang Seng China Enterprises Index down 0.35% and the Hang Seng Tech Index up 0.42%.
Chinese e-commerce giant JD.com has cut back the operations of its community group-buying platform Jingxi Pinpin due to sluggish sales amid intense competition.
Huayou Cobalt, a leading Chinese supplier of raw materials for power batteries, said it plans to raise as much as 17.7 billion yuan ($2.6 billion) in a private placement of shares.
