HK Stock Market Move | Car stocks fell further in late trading, with Xiaopeng Motors (09868) leading the decline in the sector. The Market Regulatory Administration announced that it will strengthen supervision of the automotive industry.

Car stocks fell in the closing session, as of the time of writing, XPENG-W(09868) fell by 4.83% to HK$78.8; Great Wall Motor(02333) fell by 4.02% to HK$14.81; Guangzhou Automobile Group(02238) fell by 3.5% to HK$3.31; BRILLIANCE CHI(01114) fell by 2.8% to HK$3.82. On the news front, a relevant person from the State Administration for Market Regulation stated at the 2025 World Intelligent Automobile Conference on October 17th, they are innovating the recall regulatory system, establishing and promoting the implementation of a new energy vehicle fire accident reporting system, car remote upgrade reporting system, and piloting the automobile safety sandbox regulatory system. They are currently working with the Ministry of Industry and Information Technology to draft a notice on strengthening the supervision and management of recall production consistency for intelligent connected vehicles and new energy vehicle products, and regulating publicity to further standardize the supervision of issues such as false, exaggerated advertising, and irrational competition. In addition, according to FALIEN News, in response to "GIC suing NIO," a NIO spokesperson stated that this case is not a new event and is not related to NIO's recent operational status. It stems from false accusations against NIO made by short-selling organization Grizzly Research LLC in a short-selling report in June 2022. The report lacks credibility, contains many errors, unfounded speculations, and misleading conclusions.