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<Research>M Stanley: GEELY AUTO 1Q Results In Line, with FX Gain
Recommend 19 Positive 41 Negative 15 |
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GEELY AUTO (00175.HK) logged a 1Q25 profit surge of 2.64 times YoY to RMB5.7 billion, hitting the upper end of its earlier profit forecast, with FX gain contributing RMB2-2.3 billion, Morgan Stanley’s research report noted. During the period, revenue remained roughly flat QoQ but grew 25% YoY to RMB72.5 billion, boosted by sales volume hike of 48% YoY and 2% QoQ, though ASP posted a low single-digit decline. Stripping off Zeekr’s impact, the broker estimated Geely’s per-vehicle profit at RMB8,100, vs RMB5,800 in the prior quarter and RMB4,400 in the same period last year. Morgan Stanley gave an Overweight rating on GEELY AUTO with a target price of HKD21. AAStocks Financial News |
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