YONGDA AUTO (03669) surged over 8% in early trading. As of press time, the stock was up 5.45% to HK$2.32, with a turnover of HK$7.5461 million.

A research report indicates that YONGDA AUTO's first-half performance met market expectations. Notably, its new energy business achieved counter-trend growth, with independent new energy brand vehicle sales rising 49.0% year-on-year to 10,312 units. Benefiting from the high-end breakthrough of domestic brands, the average selling price reached 267,300 yuan, driving revenue up 11.82% year-on-year to 1.219 billion yuan, supporting revenue resilience.

Analysts believe that with the volume ramp-up of high-end models such as HarmonyOS Smart Mobility and IM Motors, along with the large-scale delivery of existing orders in the second half, the proportion of new energy vehicle business is expected to further increase, driving continuous optimization of revenue structure.

The report notes that the company added 30 new energy brand authorizations in the first half, established 14 new energy stores (13 of which are HarmonyOS Smart Mobility stores), while closing 12 traditional brand stores, accelerating its transformation toward the new energy track.

In terms of innovative business, the company has expanded into battery recycling and intelligent robotics, actively exploring AI technology applications to cultivate new growth drivers for long-term development. Analysts believe that the company's forward-looking strategic layout will gradually unlock value.