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<Research>CLSA: GEELY AUTO Posts Strong Overseas Orders; High Conviction Outperform Rating Kept
Recommend 22 Positive 31 Negative 8 |
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CLSA published a research report on GEELY AUTO (00175.HK), which has accelerated its overseas expansion. Export volume numbered 85,000 units in May. Management indicated that, absent logistics bottlenecks, monthly overseas orders could have already exceeded 100,000 units. CLSA forecast that, as logistics issues are gradually resolved, monthly exports will reach 100,000 units starting in June, driving 2H exports to around 600,000 units. The full-year export forecast was raised from 800,000 units to 1.06 million units, accounting for approximately 32% of total sales. The broker maintained its High Conviction Outperform rating and TP of HKD30 unchanged. It forecast GEELY AUTO's total sales in 2026 to grow 8.9% YoY to approximately 3.295 million units. Revenue forecast was lowered by 1.8% to RMB428.8 billion, while net profit forecast was lifted by 0.3% to RMB19.64 billion. Auto-translated by AI This article was automatically translated by AI, the original language 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. More Details
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