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<Research>HSBC Research Keeps Rating at Hold on GAC GROUP (02238.HK), Adds TP to $3.62
Recommend 10 Positive 9 Negative 3 |
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GAC GROUP (02238.HK)'s 2Q25 results hit a historic new low, with net losses expanding to RMB1.8 billion, HSBC Global Research issued a research report saying. Its new brand Huawang, in collaboration with Huawei, may become the next business highlight, although its development is still in the early stages. Financial contributions are expected to be limited before 2026. Therefore, the broker kept rating at Hold on GAC GROUP, and added its target price from $2.69 to $3.62, corresponding to a projected PB ratio of 0.75x. Based on the lower sales and gross margin outlook for its own brands, HSBC Global Research adjusted its 2025/ 2026 earnings forecasts from a net profit of RMB100 million/ RMB900 million to a net loss of RMB1.4 billion/ a net profit of RMB600 million. AASTOCKS Financial News Website: www.aastocks.com |
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