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<Research>Citi: GEELY AUTO (00175.HK) 1Q Positive Profit Alert Beats Mkt Consensus; Rating Buy
Recommend 18 Positive 33 Negative 13 |
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GEELY AUTO (00175.HK) announced its positive profit alert expecting its 1Q25 earnings to hike to between RMB5.2 billion and RMB5.8 billion, up 2.2-2.7x YoY, according to a research report issued by Citi Research. Excluding potential foreign exchange gains, the broker forecasted the Group's 1Q25 potential net profit to be around RMB3.3 billion-RMB3.5 billion, which is in line with Citi Research's projection, but higher than the market consensus. As the Geely Galaxy brand boosted the Group's overall operating leverage and margin trend, and the YTD profitability of the gasoline vehicle business is solid, coupled with the Group's inventory control and improved sales mix, the Group's 1Q25 net profit per vehicle is estimated to be around RMB5,000, up 47% YoY. Therefore, the broker kept rating at Buy on the Group, with a target price of $26. AAStocks Financial News |
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