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<Research>UOB Kay Hian Lifts GEELY AUTO (00175.HK) TP to $35, Rating Buy
Recommend 7 Positive 17 Negative 9 |
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GEELY AUTO (00175.HK) (GELYY.US)'s EV insurance registration in the 26th week of 2025 rose by about 1.03x YoY to approx. 32,800 units, with total retail sales of approx. 568,900 units in the first 26 weeks of this year, according to UOB Kay Hian's research report. Wholesales hit a record high in June, rising 42.1% YoY to approx. 236,000 units, boosting wholesale shipments in 1H25 by 47.4% YoY to 1.41 million units, representing 52% of its full-year target. The Group is targeting a full-year sales volume of 3 million vehicles, driven in particular by its main brand Geely and overseas expansion. UOB Kay Hian raised its 2025/ 2026/ 2027 sales forecasts for GEELY AUTO by 11%/ 13%/ 10% to 3 million/ 3.6 million/ 4.3 million units each, and its core net profit forecasts by 12%/ 9%/ 5% to RMB13.89 billion/ RMB16.56 billion/ RMB20.35 billion, respectively. The broker also lifted its target price to $35 from $31, with rating at Buy. AAStocks Financial News Website: www.aastocks.com |
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