According to a report from HSBC Global Research, GWMOTOR (02333.HK) -0.160 (-1.305%) Short selling $80.54M; Ratio 35.664% 's 1Q25 net profit slightly beat the broker's expectations, yet its sales dropped by 7% YoY mainly because of higher tariffs increasing pressure on its export to and earnings in Russia, intensified investment in domestic direct sales channels, and a relatively dull new car cycle in 1Q.From HSBC Global Research's perspective, the YTD 10%/ 12% declines in GWMOTOR's A-shares/ H-shares have already reflected the pressure on export sales and earnings, especially in relation to the Russian market. The broker predicted the company's overseas sales to manage a mild QoQ recovery in 2Q25.Related NewsHSBC Research Upgrades GWMOTOR (02333.HK) to Hold, Lifts TP to $11.9HSBC Global Research lifted its target price for GWMOTOR from $8.8 to $11.9 and upgraded the rating from Reduce to Hold.(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2025-05-09 16:25.)