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<Research>CMS Keeps GEELY AUTO as Top Pick, Raises 2026-27 Earnings Forecasts
Recommend 9 Positive 22 Negative 7 |
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GEELY AUTO (00175.HK) recorded a net profit attributable to shareholders of RMB3.74 billion for 4Q25, according to a report from China Merchants Securities. After excluding the one-off loss from the recall of Zeekr and the capitalization of increased R&D expenses, GEELY AUTO's core net profit grew by 18% QoQ to RMB4.5 billion, exceeding the market expectation of RMB3 billion. During the period, GEELY AUTO's revenue rose by 18.6% QoQ to RMB105.8 billion, and the gross profit margin increased by 0.3 ppts to 16.9%, mainly driven by product mix optimization. China Merchants Securities slightly lowered the 2026-27 sales forecast for GEELY AUTO but raised the gross profit margin forecast, reflecting the growth driven by high-end models. Overall, the 2026-27 net profit forecasts for GEELY AUTO have been raised by 4% each. China Merchants Securities has kept an Overweight rating on GEELY AUTO, with a target price of HKD32. It also named the carmaker as its top pick for the complete vehicle sector. AAStocks Financial News |
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