Jinwu Financial News | According to Orient Securities Research Report, Geely Auto (00175) sold a total of 150,800 units in March, up 38.5% year on year and 35.4% month on month; of these, new energy vehicles sold 44,800 units, up 59.4% year on year, up 33.7% month on month; exported 26,200 vehicles, up 79% year on year
According to the bank, sales of the Extreme Krypton brand surged from month to month, and the new GKrypton 009 Guanghui and Extreme Krypton MIX cars are expected to further open up market segments and boost the sales volume of the Krypton brand. In addition, Linker's sales volume continues to grow rapidly. The Lynk & Co 07EM-P is expected to launch pre-sale in Beijing on April 25, and officially launch and delivery in May. After the launch, the Linker EM-P family matrix will be further expanded to accelerate the transformation of new energy sources.
The bank predicts EPS for 2024-2026 will be 0.75, 0.94, and 1.18 yuan, respectively. The comparable company is an A and H share automaker, maintaining a 24-year PE average valuation of 14 times the comparable company, with a target price of 10.50 yuan and HK$11.58 (1 HKD = 0.9071 yuan), maintaining a purchase rating.