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| HSI1 | 23,924.81 | -387.35 | 358.71B |
| HSCEI1 | 7,976.04 | -167.99 | 121.48B |
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2026-06-18 15:40:38 In 5M26, the recovery pace of domestic demand in China’s auto market remained rather weak, but export performance stayed strong and continued to hit record highs, with the market share of high-end models advancing, CMSI said in its report. The broker recommended investors focus on automakers going global and moving upmarket, and highlighted GEELY AUTO (00175.HK) and BYD COMPANY (01211.HK) as key recommendations among the first-tier exporters, with GEELY AUTO as the top pick. It noted robust demand for its premium brand ZEEKR and maintained an Overweight rating with a TP of HKD36. CMSI also maintained an Overweight rating on BYD COMPANY with a TP of HKD130. The broker was bullish about XPENG-W (09868.HK)’s Robotaxi and robotics-driven AI valuation resilience. However, in view of its relatively high exposure to mid- to low-end models and increased R&D investment, it lowered its revenue and earnings forecasts for 2026-28 and cut the TP to HKD103 from HKD115, while maintaining an Overweight rating. CMSI also reduced its revenue forecasts for LI AUTO-W (02015.HK) for 2026-28 by 12%, 9% and 5%, respectively, to reflect escalating competition in range-extended electric vehicle (REEV) products. It lowered the TP to HKD61 from HKD74 and maintained a "Neutral" rating. For other stocks, the broker favored auto parts makers with overseas business expansion and positioning in new segments, including MINTH GROUP (00425.HK), FUYAO GLASS (03606.HK) and WEICHAI POWER (02338.HK), all being rated Overweight. ~ AASTOCKS Financial News Website: www.aastocks.com | |