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<Research>CLSA Raises GEELY AUTO 2025 Profit Forecast by 12%, Reaffirms High-Conviction Outperform
Recommend 11 Positive 26 Negative 5 |
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CLSA released a report covering GEELY AUTO (00175.HK), which achieved a net profit of RMB3.8 billion in 3Q25, implying a net profit of approximately RMB5,000 per vehicle, compared to RMB4,700 in 1H25. The improvement in ASP and unit profit was mainly attributable to changes in product mix and scale effects. The broker expected this trend to sustain into 4Q25, enhancing profitability, and thus raised its profit forecast for 2025 by 12%. Management set a target of exporting 1 million vehicles next year, with an NEV penetration rate of 50%, and anticipated better synergy following the merger with subsidiary Zeekr (ZK.US). The broker expected Geely to maintain resilience next year, reaffirming a target price of HKD23 and a High-Conviction Outperform rating. AASTOCKS Financial News Website: www.aastocks.com |
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