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<Research>BofAS Reiterates Underperform on BAIC MOTOR, Cuts TP to HKD1.54
BAIC MOTOR (01958.HK)'s 4Q25 revenue reached RMB43 billion, down 11% YoY but up 13% QoQ, with a gross margin of 7.8%, down 0.6 ppts YoY or 2 ppts QoQ, according to a BofA Secur...
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<Research>BofAS Reiterates Underperform on BAIC MOTOR, Cuts TP to HKD1.54
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BAIC MOTOR (01958.HK)  +0.030 (+1.923%)    Short selling $7.06M; Ratio 822.647%   's 4Q25 revenue reached RMB43 billion, down 11% YoY but up 13% QoQ, with a gross margin of 7.8%, down 0.6 ppts YoY or 2 ppts QoQ, according to a BofA Securities report.

Based on minority interests, BofA Securities estimates that Beijing Benz, in which BAIC MOTOR holds a 51% stake, saw its 4Q25 net profit decline by 27% YoY but increase by 22% QoQ, with sales dropping by 22% YoY but rising by 9% QoQ, reflecting increased discounts amid fierce competition to boost sales.

BAIC MOTOR's 4Q25 net profit reached RMB71 million, compared to a net loss of RMB2.1 billion in the same period of 2024. The company recorded a one-time disposal gain of RMB2.2 billion from selling a 51% stake in BAIC International last November.

BofA Securities has reduced its target price for BAIC MOTOR from HKD1.8 to HKD1.54 and reiterated the Underperform rating, expecting Beijing Benz's profits to be offset by losses from Beijing's own brands.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-04-02 16:25.)



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.

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