Hi everyone. I’m Stephanie LI.

大家好，我是主持人李莹亮。

Coming up on today’s program.

重点提要 

• Chinese automobile stocks soared on higher car sales by leading carmakers;

• Nearly 160 Shanghai-traded firms report profit growth in Q3. 

Here’s what you need to know about China in the past 24 hours 

中国经济要闻

Chinese automobile stocks rallied on Tuesday on back of remarkable sales in leading manufacturers as well as a raft of policies to support the stable expansion of domestic automobile market.

China's biggest electric car maker BYD jumped by 5 percent by Tuesday’s close with over 700 billion yuan in market value. The company announced on Monday night that third-quarter profit may jump by up to 365 percent, whereas its profit for the first three quarters of the year may grow by 289 percent, due to robust sales and a better product mix. Hong Kong-traded Brilliance Auto surged 15.9 percent by the close, while Geely and GAC rose 4.4 percent and 2 percent respectively.

In the first three quarters of the year, the auto industry showed a recovery momentum, driven by a series of policies to promote consumption and stabilise growth. SAIC Motor and GAC Group reported growth in both production and sales. SAIC sold 517,100 units in September, a monthly record high this year. GAC’s sales soared over 20 percent in the first three quarters compared with the same period last year.

China's passenger car market saw sales of 1.9 million units in September, a year-on-year increase of 21 percent, driven particularly by new-energy vehicles (NEVs), the latest data from the China Passenger Car Association (CPCA) showed.

Meanwhile, China's automobile exports continued their strong momentum in September, cementing the country's newly earned position as the world's second-largest vehicle exporter. Total exports in the first three quarters hit 2.12 million units, up 55.5 percent on a yearly basis, and surpassed the total in 2021, according to data from China Association of Automobile Manufacturers.

It is expected that the country's automobile output and sales would continue robust rebound in the fourth quarter as the economic situation continues to improve, supported by a range of policies targeting economic stability.

促消费政策叠加传统消费旺季，汽车产销有望继续较快增长。

今日A股和港股中，汽车股表现抢眼，新能源车巨头比亚迪A股开盘大涨7%，股价一度冲上279元/股，截至收盘涨5%，总市值重回7000亿元。港股汽车股反弹，华晨中国涨15.93%，比亚迪股份涨6.22%，吉利汽车涨4.36%，广汽集团涨2%。

10月17日晚间，比亚迪发布业绩预告称，预计前三季度归属于上市公司股东的净利润为91亿元至95亿元，同比增长272.48%至288.85%。预计第三季度归属于上市公司股东的净利润55亿元至59亿元，同比增长333.60%至365.11%。

比亚迪此前披露的产销数据显示，2022年1至9月，新能源汽车销量约118万辆，同比增长249.56%，前三季度销量超过特斯拉交付的90.86万辆。

据中汽协数据，2022年1-9月，国内新能源汽车产销量分别达到471.7万辆和456.7万辆，同比分别增长1.2倍和1.1倍。同时，汽车出口保持同比强势增长，9月出口30.1万辆，同比增长73.9%。新能源汽车出口5万辆，同比增长超过1倍。1-9月，汽车企业出口211.7万辆，同比增长55.5%。新能源汽车出口38.9万辆，同比增长超过1倍。

信达证券研报认为，“金九银十”为传统消费旺季，地方政策密集出台，新品数量远强于过去两年同期。6-8月疫情缓解后消费释放，同时车购税减半政策进入平稳的实施中期，前端消费和政策推动拉动车市不断向好，加上各省纷纷延续政策，配合“金九银十”销售旺季，因此目前车市态势总体良好，零售实现同比较高增长。

Moving on to regional highlights

区域观察

• The world’s largest coal chemical project under construction successfully kicked off a demonstration project with an annual capacity of 1.8 million tons in Yulin, Shaanxi Province, with polyester grade ethylene glycol products rolling off production lines, according to the State-owned Assets Supervision and Administration Commission of the State Council (SASAC) on Monday. The project is expected to lower the country’s imports of related products and improve the quality of high-end chemicals.

  全球在建最大煤化工项目一次性开车成功：近日，由陕煤集团榆林化学有限责任公司负责的全球在建最大煤化工项目——煤炭分质利用制化工新材料示范项目180万吨/年乙二醇工程单系列一次性开车成功，顺利产出聚酯级乙二醇产品。据了解，煤炭分质利用制化工新材料示范项目总占地面积2.31万亩，计划总投资约2315亿元。

Greater Bay Area, Greater future

新使命，大未来

• Hong Kong’s Chief Executive John Lee Ka-chiu’s first Policy Address will focus on land and housing shortages, economic stimulation, livelihood improvements, and plans to further bolster the city’s competitiveness. Lee unveiled the focal points before the Executive Council meeting on Tuesday morning, a day before he is scheduled to deliver the much-anticipated Policy Address. Lee also showed the printed version of his first Policy Address, which has a green cover, representing hope, vitality, harmony and stability, he said.

  施政报告将聚焦发展经济改善民生：香港特区行政长官李家超将于本周三（19日）发布上任后首份《施政报告》，香港社会各界翘首以待。他18日表示，会在《施政报告》中提出关于发展经济、改善民生的政策及措施，包括土地房屋问题，以及如何加强香港的竞争力等。李家超指出，今次《施政报告》的封面选用绿色，代表希望及生命力，亦代表和谐稳定。

Next on industry and company news

产业及公司新闻

• Chinese silicon wafer giant Wuxi Shangji Automation said it has landed standing orders from photovoltaic cell and panel maker DAS Solar and one of its units worth 9.4 billion yuan. DAS Solar and a subsidiary will buy 825 million pieces of ordinary monocrystalline silicon wafers from two Shangji units between January 2023 and December 2024, Shangji said yesterday, citing a contract signed by the four parties. A unit of Shangji will also provide 300 million pieces of N-type monocrystalline silicon wafers to DAS Solar next year, Shangji said in a separate statement the same day.

  上机数控斩获94亿硅料大单：上机数控10月17日晚公告称，全资子公司弘元新材、弘元徐州与一道衢州、一道泰州就“单晶硅片”销售签订合同。对方自2023年1月至2024年12月总计向两家子公司采购单晶硅片8.25亿片（上下浮动不超过20%），预计2023-2024年销售金额为62.04亿元（含税）。除了上述“单晶硅片”订单外，弘元徐州还与一道衢州、一道泰州就“N型硅材料产品”销售签订合同。根据协议，二者在2023年总计向弘元徐州采购N型硅材料产品3亿片（上下浮动不超过20%），预计销售金额为31.92亿元（含税）。

• Chinese supplier of light-emitting diode displays Longli Technology said it will partner with Robert Bosch for the first time to supply the latter with US$421 million of in-vehicle screens in nine years. The Chinese firm will ink a contract to supply the German equipment manufacturer with mini-LED backlight modules for vehicles between 2025 and 2033, the Shenzhen-based company said in a statement on Monday.

  隆利科技获博世4.2亿美元订单：隆利科技10月17日午间公告显示，公司拟与Robert Bosch GmbH（德国博世集团）签署合同，公司拟为德国博世提供2025-2033年所需的车载Mini-LED背光显示模组产品，合同金额约4.21亿美元，约折合人民币30.27亿元。

• Yunding Technology’s shares jumped by the daily trading limit on Monday after the unit of coal mining giant Shandong Energy Group announced a partnership with Huawei Technologies on smart mining technology. Under the deal signed earlier in the day, Yunding, which specialises in information technology services and industrial smart applications, will be a Huawei authorized dealer and promote the implementation of related cooperation projects in a smart mine tech project between Huawei and its parent company, the firm said Monday.

  云鼎科技牵手华为：10月17日午间，云鼎科技发布公告称，公司与华为技术有限公司签订框架合作协议，双方将围绕能源行业产业数字化和数字产业化发展方向，形成紧密协作的数字化创新模式，加快推动物联网、大数据、人工智能、区块链、5G等新一代信息技术在全要素、全产业链、全价值链中的深度融合应用。云鼎科技周一午后开盘秒封涨停板。

• Chinese marketing service provider Rego Interactive closed 111 percent higher than the offer price of HK$0.64 on its trading debut on Monday, as it raised about HK$100 million from the offering. The company had one of the best IPOs this year, following China Graphite whose share price soared by 143 percent on its trading debut.

  润歌互动上市首日大涨：10月17日，润歌互动在港交所上市，盘中一度大涨近150%。截至收盘，润歌互动报1.350港元，上涨110.938%，港股市值13.50亿港元。

Earnings reports express

财报速递

• Of the 165 firms traded on the Shanghai Stock Exchange that disclosed their earnings for the third quarter, 159 of them have reported annual growths. Most companies achieving annual growth in the quarter ended Sept. 30 are in the new energy, automotive, pharmaceutical, and biological industries. Some 129 of them saw their net profit jump over 30 percent, 102 of which more than 50 percent.  

  超九成三季报预喜：截至10月17日晚间，沪市共有165家公司（含科创板28家）披露或预告三季度业绩信息。上述公司中，有159家净利润保持正增长，预喜家数占比超九成；129家公司净利润增速超30%，102家公司净利润增速超50%。70家披露或预告收入数据公司中，65家实现同比增长。 

• Chinese medium and small-sized banks expect steady growth in the third quarter, as Bank of Hangzhou and Bank of Jiangsu both forecast net profit to grow over 30 percent in the period. Bank of Chengdu, Changshu Rural Commercial Bank and Suzhou Rural Commercial Bank have recently disclosed their performance in the first nine months, with net profit of the three banks increased by 36 percent, 25 percent and 21 percent year on year, respectively. 

  中小银行三季报亮眼：10月17日晚，杭州银行和江苏银行发布业绩预告。2022年前三季度，两家银行的归母净利润同比增长率分别达到31.82%和30%至32%。日前，成都银行、常熟银行、苏农银行也公开了2022年前三季度预计业绩情况，3家银行归母净利润较去年同期分别增长35.91%、25.24%和20.62%。 

Switching gears to financial news

金融市场消息

• Nearly 100 companies listed on the Chinese mainland have said that they have plans for share buybacks after the country’s securities regulator said it is mulling making it easier for listed companies to repurchase their own stock. From January to September this year, over 500 listed firms have repurchased more than 100 billion yuan worth of shares.

  百家上市公司火速回购：17日据媒体统计，自证监会10月14日修订上市公司股份回购规则后，沪深两市上市公司累计发布近百份回购、增持计划公告。另据数据显示，今年前三季度，沪深两市合计，今年500余家上市公司回购金额超千亿元。

• E Fund Management, China’s largest public fund company, and five other Chinese asset managers set out plans to buy 660 million yuan of their own fund products to boost market confidence. E Fund plans to invest 150 million yuan in its equity funds on Monday, while Southern Asset Management, Universal Asset Management, and GF Fund Management said the same day that they intend to invest 100 million yuan, respectively, to buy their own funds.

  多家基金公司宣布自购：10月17日，易方达基金、广发基金、汇添富基金等多家基金管理人发布公告称，将运用固有资金投资旗下基金。截至记者发稿，相关机构公告的自购金额合计已超过6亿元，多数机构自购旗下权益类基金。广发基金表示，将于近日运用固有资金合计1亿元投资旗下权益类基金。易方达基金表示，将于近日运用固有资金合计1.5亿元投资旗下权益类基金；南方基金将以固有资金投资旗下3只基金，合计出资1亿元；汇添富基金旗下汇添富投资管理有限公司也决定于10月17日出资1亿元投资公司旗下公募基金。

Wrapping up with a quick look at the stock market

股市收盘情况

• Chinese stocks closed mixed on Tuesday as the NDRC said China’s GDP “rebounded significantly” last quarter. The benchmark Shanghai Composite finished down 0.13 percent, while the Shenzhen Component added 0.23 percent. Hong Kong stocks advanced for a third day amid signs of better corporate earnings. The Hang Seng climbed 1.82 percent as the Tech Index jumped 4.25 percent.

• A股窄幅震荡港股拉升：周二A股三大指数窄幅震荡，截至收盘，沪指跌0.13%，深成指涨0.23%，创业板指涨0.49%，沪深两市全天成交额7938亿元。港股一度高开低走，但此后再度大幅拉升。恒生指数收涨1.82%，恒生科技指数涨4.25%，大型科技股普涨。

Biz Word of the Day

财经词汇划重点

• Ethylene glycol is an organic compound mainly used as a raw material in the manufacture of polyester fibres and for antifreeze formulations. It is an odorless, colorless, flammable, viscous liquid. 

  乙二醇又名甘醇，简称EG，化学式为(CH2OH)2，是最简单的二元醇。乙二醇是无色无臭、有甜味液体，对动物有低毒性，乙二醇能与水、丙酮互溶，但在醚类中溶解度较小。用作溶剂、防冻剂以及合成涤纶的原料。

Executive Editor: Sonia YU

Editor: LI Yanxia

Host: Stephanie LI

Writer: Stephanie LI 

Sound Editor: Stephanie LI

Graphic Designer: ZHENG Wenjing, LIAO Yuanni

Produced by 21st Century Business Herald Dept. of Overseas News.

Presented by SFC

编委:  于晓娜

策划、编辑：李艳霞 

播音：李莹亮

撰稿：李莹亮

音频制作：李莹亮

设计：郑文静、廖苑妮

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