Hong Kong-listed automakers’ market value halves this year: CPCA

Hong Kong-listed automakers had a combined market value of 870 billion yuan ($129 billion) in September, down 11% month-on-month and down by half year-on-year, the China Passenger Car Association said on Monday. Secretary General Cui Dongshu said both declines exceeded those recorded by automakers listed in the U.S. and on China’s domestic A-share markets in Shanghai and Shenzhen.

By listing market, U.S.-listed automakers retained the largest combined market value, at 12.9 trillion yuan in September, down 5% month-on-month and 13% year-on-year. A-share-listed automakers were valued at 1.4 trillion yuan, down 4% month-on-month and 36% year-on-year. The analysis groups companies by listing market, giving greater weight to the primary listing venue of some dual-listed firms.

Privately owned Chinese manufacturers including BYD (1211.HK; 002594.SZ), Geely Automobile (0175.HK) and Great Wall Motor (2333.HK; 601633.SH) collectively lost 31% of their market value year-on-year. Automakers with smartphone-industry backgrounds, including Xiaomi (1810.HK) and Seres (9927.HK; 601127.SH), collectively declined 59% year-on-year. Emerging automakers and state-owned manufacturers saw their combined market values fall 58% and 37% year-on-year, respectively.

By Lee Shih Ta

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