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<Research>Daiwa Adds GWMOTOR's TP to HKD22, Raises 2026 NP Forecast
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GWMOTOR (02333.HK)'s 3Q25 revenue grew by 20.5% YoY or 17% QoQ to RMB61.2 billion, while its net profit dropped by 31% YoY or 50% QoQ to RMB2.3 billion, according to a report by Daiwa. In 1-3Q25, GWMOTOR's revenue climbed by 8% YoY to RMB153.6 billion, while its net profit receded by 17% YoY to RMB8.6 billion. Due to the profit pressure in 3Q25, Daiwa revised down its 2025 revenue/ net profit forecasts for GWMOTOR by 11%/ 7%. However, it raised the 2026 net profit forecast by 5% in light of new model growth and overseas expansion. GWMOTOR's target price was lifted from HKD19 to HKD22, with a rating reiterated as Buy. AAStocks Financial News |
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