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(Bloomberg) — Xiaomi Corp., Geely Automobile Holdings Ltd., NIO Inc. and Xpeng Inc. will show how resilient China’s electric-vehicle sector is to a stagnant domestic economy and tariffs in the US and European Union.

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All four firms delivered more vehicles in 2024. China auto exports had a buoyant start to 2025, with 46% growth in EV exports so far, Macquarie said. Retail car sales in China rose 26% in February from a year earlier, with a 85% jump in sales of new energy vehicles, according to estimation by the China Passenger Car Association.

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The country’s auto executives offered a range of ambitious policy proposals to cement China’s position as a global powerhouse in transportation at the annual National People’s Congress in Beijing. Measures included artificial intelligence-controlled vehicles and flying cars, with aggressive overseas expansion ambitions.

Investors will also scrutinize Tencent Holdings Ltd.’s AI progress and how it fared against rivals like Alibaba Group Holding Ltd. The tech giant may not see significant incremental AI earnings this year and it faces a more challenging 2025 given the risk of further US sanctions, Bloomberg Intelligence said.

Highlights to look out for:

Monday: No major earnings of note.

Tuesday: Xiaomi’s (1810 HK) fourth-quarter revenue likely surged 43%, the fastest since 2021. Smartphone sales could see stronger growth this year as it pushes into the premium market traditionally dominated by Apple Inc., while benefiting from China’s smartphone subsidies, BI said. Its electric vehicle business will also continue to lift earnings, as it saw popular demand with the SU7 Ultra model.

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• Xpeng (XPEV US) likely narrowed its net loss in the fourth quarter, helped by stronger vehicle sales, consensus shows. Its vehicle deliveries almost doubled from the preceding quarter thanks to the cheaper Mona M03 and P7+ sedans, BI said. Citi expects upside potential for Xpeng “if it achieves decent progress in the artificial intelligence and robotics field.”

Wednesday: Tencent’s (700 HK) fourth-quarter revenue probably grew 8.7% as it saw continued strength in its video games and advertising segments. Still, rising economic headwinds and tensions with the US may hurt the longer-term outlook, while profits from AI are unlikely in the near-term, BI said. 

Thursday: CK Hutchison’s (1 HK) $19 billion sale of the bulk of its ports could help it boost shareholder returns and repay debt, with more opportunities for acquisitions, BI said. Full-year net income fell 4% compared with a 36% decline a year earlier, estimates show. Shares slid on Friday after China’s top office on Hong Kong issues reposted an attack on its sales of a controlling stake in Panama ports.

• Geely Auto’s (175 HK) full-year revenue likely continued picking up pace, consensus shows. The Chinese EV maker announced the launch of its brand and the EX5 SUV model in Australia and New Zealand, with a plan to enter markets including the UK, Brazil and South Africa this year.

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Friday: NIO’s (NIO US) quarterly losses may have remained steady as the sales mix included a greater share of the cheaper Onvo brand. Sales volumes rose 45%, according to monthly disclosures, but a price war in its home market may limit revenue growth. Markets will also watch for commentary on the impact of EU tariffs, as well as plans to deal with President Donald Trump’s levies. The company’s aim to double vehicle deliveries in 2025 looks ambitious and it may be a challenge to shrink losses, BI said.

• Cosco Shipping (1919 HK) may face a tougher 2025 amid the potential reopening of the Red Sea route and volatile container rates due to tariff threats. US levies on China are expected to reduce overall container volumes at a time when shipping rates have descended from highs reached in July 2024 due to the conflict in the Middle East. Net income more than doubled last year, the company said in a preliminary earnings release.

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