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<Research>DBS Drops GWMOTOR (02333.HK) TP to $17.5, Expects Gradual Recovery in Sales
GWMOTOR (02333.HK) experienced a 7% YoY decline in sales in 1Q25 as deliveries during the quarter was affected by the car model transformation cycle, DBS Group Research issued a re...
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<Research>DBS Drops GWMOTOR (02333.HK) TP to $17.5, Expects Gradual Recovery in Sales
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SHORT SELL
 
STOCK INFO

GWMOTOR (02333.HK)  +0.260 (+2.185%)    Short selling $25.78M; Ratio 17.398%   experienced a 7% YoY decline in sales in 1Q25 as deliveries during the quarter was affected by the car model transformation cycle, DBS Group Research issued a research report saying. However, the broker noted that deliveries are gradually recovering, with April sales increasing by approx. 6% YoY.

With the launch of new models, DBS Group Research expected sales to grow by 9-10% in FY2025/ FY2026. However, the broker still lowered its full-year earnings forecast by 6-7% to reflect weaker 1Q25 sales, and anticipated an average CAGR of 9% for earnings from FY2024 to FY2026.

Therefore, DBS Group Research dropped its target price for GWMOTOR's H-shares from $19 to $17.5, with rating kept at Buy, and believed that the predicted improvement in sales will help drive its share price.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2025-05-28 12:25.)

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