财信证券晨会纪要

Core Insights - The report highlights the recent performance of the automotive industry, noting a slight increase in the total import and export value of automotive goods, which reached $26.38 billion in May 2024, reflecting a year-on-year growth of 7.9% [2] - The report also emphasizes the strong sales performance of new energy vehicles (NEVs), particularly BYD, which achieved sales of 342,000 units in June 2024, marking a year-on-year increase of 35.2% [4][31] - The storage chip market is experiencing price stability, with small capacity SSD prices showing a decline, while DRAM prices remain relatively stable [27][30] Industry Dynamics - The automotive sector's import value was $6.07 billion, with a month-on-month increase of 11.5% and a year-on-year increase of 2.2%, while the export value was $20.31 billion, with a month-on-month increase of 1.3% and a year-on-year increase of 9.8% [2] - The report notes that the logistics industry in China maintained a growth index of 51.6% in June, indicating continued expansion despite some pressures on demand [20] - The storage chip market is characterized by a stable pricing environment, with NAND product prices showing minor fluctuations and DRAM prices remaining steady [27][30] Company Tracking - BYD's NEV sales reached 1.613 million units in the first half of 2024, reflecting a year-on-year growth of 28.5% [4][31] - The report mentions that Dongpeng Beverage plans to reduce its shareholding by up to 3% of the total share capital due to funding needs [32] - Aoxin announced the completion of capital increase for its Thai subsidiary, which is a strategic move to enhance its global market presence [33]