---
type: "Topics"
locale: "en"
url: "https://longbridge.com/en/topics/40719577.md"
description: "Geely Automobile fell by more than five percentage points, with Q1 vehicle sales down 17.7% year-on-year. Exports, up 129%, supported profits, but the sales side was pressured by the phase-out of the EV purchase tax. Sanhua Intelligent Controls rose slightly, with demand for thermal management in the parts sector remaining stable. Both are part of the new energy vehicle industry chain, but the vehicle side is being dragged down by demand, while orders in the parts sector are still there. The divergence is already apparent. The next step is to see whether the vehicle side will lead the rebound first, or whether the parts sector will continue to move upward independently. I feel that in the short term, focus on the parts sector; the vehicle side needs to wait for new policy actions to confirm the bottom."
datetime: "2026-05-13T10:45:11.000Z"
locales:
  - [en](https://longbridge.com/en/topics/40719577.md)
  - [zh-CN](https://longbridge.com/zh-CN/topics/40719577.md)
  - [zh-HK](https://longbridge.com/zh-HK/topics/40719577.md)
author: "[边](https://longbridge.com/en/profiles/27353506.md)"
---

# Geely Automobile fell by more than five percentage…


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