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<Research> CMSI: GEELY AUTO (00175.HK) 1Q Results Deliver High-Quality Growth, Maintains Overweight
Recommend 8 Positive 12 Negative 1 |
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CMSI said in a research report that GEELY AUTO (00175.HK) recorded net profit attributable to shareholders of RMB4.17 billion in 1Q. Excluding foreign exchange impacts, core profit reached RMB4.56 billion, up 31% YoY, in line with expectations. In terms of overall trends, 1Q sales volume was 710,000 units, up 1% YoY. Revenue rose 15%, outpacing sales growth, benefiting from strong export growth and a higher proportion of high-end vehicle sales. Profit growth exceeded revenue growth, reflecting improved operating efficiency and enhanced profitability. The broker maintained its Overweight rating on GEELY AUTO and kept its TP at HKD36. It believes the company delivered high-quality growth in 1Q, with accelerated overseas expansion and positive guidance. The current valuation is equivalent to 9.6x forecast PE for FY2026 or 7.7x forecast PE for FY2027, which appears attractive. (hc/j) 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 |
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