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<Research>CMBI: GWMOTOR Kept Buy on Plan to Revitalize Haval Xiaolong Max Sales
Recommend 4 Positive 15 Negative 10 |
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GWMOTOR (02333.HK) delivered a weaker-than-expected net profit in 1Q25, in wake of increased selling expenses and a delay in compensation for vehicle recycling fees in Russia, CMB International noted. The broker anticipated robust profit in 2Q25, supported by the delayed compensation and new model launches. It also highlighted that the company appears focused on revitalizing Haval Xiaolong Max sales through redesigned exteriors, new energy Hi4 technology, and urban NOA to differentiate from competitors. Among all GWM brands, the broker expected WEY to chart the largest YoY profit growth in FY2025. It maintained a Buy rating on GWM but lowered its target price from HKD17 to HKD14. AAStocks Financial News |
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