Latest Search
Quote
| Back Zoom + Zoom - | ||||
|
BofAS Cuts GWMOTOR (02333.HK) TP to HKD14.3, Lowers Earnings Forecasts
Recommend 3 Positive 3 Negative 0 |
||||
|
||||
|
BofAS said in a research report that GWMOTOR (02333.HK) recorded 1Q revenue of RMB45.1 billion, up 13% YoY but down 35% QoQ. Sales volume rose 5% YoY but fell 33% QoQ. Gross margin increased by 0.6 ppts YoY and 1.2 ppts QoQ to 18.5%, mainly benefiting from greater contributions from overseas markets and premium models. In terms of earnings, 1Q net profit declined 46% YoY and 23% QoQ to RMB945 million, mainly due to a RMB1 billion foreign exchange gain recorded in the same period last year, compared with a RMB50 million foreign exchange loss this quarter. Excluding forex impacts, net profit would have increased 42% YoY. In addition, net profit after deducting non-recurring items was RMB482 million, down 67% YoY and 17% QoQ. The broker lowered its earnings forecasts for 2026 to 2028 by 4%, 4% and 3%, respectively. It cut the TP for GREAT WALL MOTOR (02333.HK) H-shares from HKD14.6 to HKD14.3 and maintained a Neutral rating, believing that its strong product lineup and solid growth have been reflected in the valuation. For GREAT WALL MOTOR (601633.SH) A-shares, the TP was reduced from RMB18.4 to RMB18.1, with an Underperform rating maintained given its relatively high valuation. (ss/u) This article was automatically translated by AI, the Chinese 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. Auto-translated by AI AASTOCKS Financial News |
||||
Copied to Clipboard
 |
||||
