Latest Search
Quote
| Back Zoom + Zoom - | ||||
|
<Research>CMBI Lifts GEELY AUTO (00175.HK) TP to $27 as 1Q Earnings Beat
Recommend 11 Positive 11 Negative 1 |
||||
|
||||
|
GEELY AUTO (00175.HK)'s 1Q26 earnings beat expectations, while revenue was broadly in line with forecast, according to CMBI's research report. Quarterly sales reached 709,000 units, ranking first among all Chinese automakers. Gross margin for 1Q26 expanded by 0.6 ppts QoQ to 17.5%, 0.7 ppts above the broker's forecast. Selling, administrative and R&D expenses were slightly below CMBI's expectations, despite a decline in the R&D capitalization ratio. Net profit for 1Q26 amounted to RMB4.2 billion, 9% above the broker's estimation. Core net profit rose 31% YoY, implying core net profit per vehicle of about RMB6,400 in 1Q26. Meanwhile, the broker lowered its 2026 R&D capitalization ratio forecast from 64% to 58%, and raised its net profit forecast by 8% to RMB20.9 billion. Therefore, CMBI lifted its target price from $25 to $27, with rating kept at Buy. Auto-translated by AI AASTOCKS Financial News |
||||
Copied to Clipboard
 |
||||
