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2026-07-17 16:13:14 GEELY AUTO (00175.HK) is benefiting from a strong premiumization strategy and overseas market product mix, which is expected to support profit growth in 2Q and offset subdued domestic sales caused by channel inventory digestion, Morgan Stanley said in a research report. The broker expected the company's earnings upcycle to reverse the industry's downcycle, with earnings growth momentum likely to continue into 2H amid new model launches and more than doubling growth in overseas markets. The broker estimated that GEELY AUTO's 2Q net profit will reach RMB4.8-5 billion, while quarterly revenue is expected to reach RMB87 billion, implying a 3% QoQ expansion in ASP. Morgan Stanley said sales growth will accelerate in 2H following recent new vehicle launches and an intensive product pipeline in 2H. Overseas sales in 2H are forecast to spike 120-130% YoY, lifting the overseas contribution to 30-35%. In addition, potential EU tariffs on China-made PHEVs would affect only around 2% of the group's total sales volume, which remains manageable. The broker reiterated its Overweight rating on GEELY AUTO with TP maintained at HKD28. ~ AASTOCKS Financial News Website: www.aastocks.com | |