UBS's latest research report notes that the current Middle East situation has driven up international oil prices, reminiscent of the surge in energy and commodity prices during the Russia-Ukraine conflict in 2022. While this simultaneously increases operating costs for fuel-powered vehicles and manufacturing costs for electric vehicles (EVs), the total cost of ownership for EVs is becoming increasingly attractive. As a result, Chinese auto and new energy stocks rose today, with Geely Automobile climbing 8.5% to HK$17.44 and Contemporary Amperex Technology Co. Limited (CATL) gaining 7.5% to HK$591. UBS maintains its "Buy" rating on BYD Company, CATL, and Li Auto, citing their favorable risk-reward profiles.