The Zhitong Finance App learned that Guosheng Securities released a research report saying that maintaining the “buy” rating of Zero Sports Auto (09863), considering the rapid growth in sales, which reflect economies of scale and high margin models as the main sales force, the sales volume is expected to be around 270,000, 490,000 and 550,000 vehicles respectively from 2024 to 2026, with total revenue reaching 30 billion yuan, 57.6 billion yuan and 68.8 billion yuan respectively, with a target price of HK$43.
According to the report, the company continues to reduce costs and increase efficiency, and profits are gradually improving. It recorded sales of 55,328 vehicles in the fourth quarter of last year, up 135% year on year; last year's sales surpassed 140,000 units, up 30% year on year, mainly due to the implementation of the company's “pure electric+extended range” dual power strategy. Looking ahead to the first quarter of this year, the company achieved sales volume of 33,410 vehicles, an increase of 218% over the previous year, and revenue is also expected to increase significantly.