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GEELY AUTO Slumps 4%+ as Daiwa Downgrades Stock to Hold, Cuts TP to HKD23.7
Recommend 14 Positive 26 Negative 14 |
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GEELY AUTO (00175.HK) opened 1.06% lower today (13th), hitting an intraday trough of HKD21.02. It last printed at HKD21.6, down 4.26%, with turnover of 45.1404 million shares, involving HKD974 million. Daiwa issued a research report downgrading GEELY AUTO by two notches from Buy to Hold, and slightly lowering the TP from HKD24.5 to HKD23.7, citing a lack of strong sales growth momentum in the near term. The broker noted that GEELY AUTO's 1Q26 results showed revenue rising 15% YoY to RMB83.8 billion, while net profit fell 27% YoY to RMB4.2 billion, due to a FX loss of RMB497 million, compared with a FX gain of RMB3 billion in the same period last year. However, adjusted net profit was about RMB4.6 billion, up 31% YoY. Gross margin improved 1.8 ppts YoY to 17.5%, benefiting from a higher contribution from exports and Zeekr sales. Auto-translated by AI This article was automatically translated by AI, the original language version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. More Details
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