CMB International: Maintaining Great Wall Motor's “Buy” Rating and Raising the Target Price to HK$14

CMB International released a research report stating that while maintaining Great Wall Motor's (02333) “buy” rating, the target price was raised from HK$13 to HK$14. The company's net profit for the first quarter of this year was 3.2 billion yuan, exceeding investors' original forecasts and strengthening the bank's confidence in its profitability throughout the year. The bank said that the annual net profit forecast for Changqi will increase by 25% to 9.9 billion yuan, and believes that the company still needs to launch high-sales new energy vehicles in mainstream markets to enhance investors' confidence in its electrification transformation. It also maintained its sales forecast of 1.35 million units this year, an increase of 10% over the previous year, and an average price forecast increase of 3%; due to the first

新浪港股10minutes ago

Hong Kong stocks closed (04.25) | Hang Seng Index closed up 0.48%, domestic housing stocks showed strong performance and fell more than 12% after New Oriental-S (09901) results

The Zhitong Finance App learned that the three major indices of Hong Kong stocks had mixed ups and downs. The Hang Seng Index rebounded for four consecutive trading days. After opening slightly lower in early trading, it quickly rose and turned red. The intraday high was 17,434 points to a new high during the new year, then the increase narrowed, showing a volatile adjustment trend. At the close, the Hang Seng Index rose 0.48% or 83.27 points to 17,284.54 points, with a full-day turnover of HK$119.12 billion; the Hang Seng State-owned Enterprises Index rose 0.33% to 6120.37 points; and the Hang Seng Technology Index fell 0.54% to 3554.3 points. CCB International previously indicated that as the Hang Seng Index stabilized its previous low in late January (20

Zhitong Finance04:43 ET

[Broker Focus] CMB International raised the target price of Great Wall Motor (02333) by 7.7% and raised this year's net profit forecast by 25%

Jinwu Financial News | According to CMB International Development Research Report, Great Wall Motor (02333)'s 1Q24 revenue was 8% higher than the bank's previous forecast, mainly due to bike sales exceeding expectations. Despite the increase in terminal discounts, its gross margin for 1Q24 reached 20%, 1.4 percentage points higher than the bank's previous forecast, partly due to the gross profit contribution of exports exceeding expectations. Other revenue of 1Q24 was 1.1 billion yuan, which was about 900 million yuan higher than the bank's previous forecast, mainly due to preferential VAT credits and overseas tax rebates, most of which were sustainable. In summary, Great Wall Motor deducts 20 of non-net profit in 1Q24

金吾財訊02:36 ET

Great Wall Motor Shares Jump on Surging Profit, Revenue

By Jiahui Huang Great Wall Motor shares rose sharply as investors cheered the company's first-quarter results, which beat some analysts' expectations. The company's Hong Kong-listed shares were up 9

WSJ01:00 ET

Damo: 50% of Great Wall Motor's non-operating income may become recurring revenue

Morgan Stanley released a research report, citing the management of Great Wall Motor (02333) to break down the non-recurring revenue of 1.2 billion yuan (same below) recorded in the first quarter of this year. Of these, 621 million yuan of government subsidies covered local tax benefits in 2023, and the remaining 600 million yuan included export tax rebates and tax subsidies for overseas production plants. Management believes that if it continues to receive domestic and foreign tax benefits, 50% of its 1.2 billion yuan non-operating income may become recurring income. According to the report, Great Wall Motor's gross profit margin for the first quarter of this year was 20%, up 4 percentage points year-on-year, and 1.6 quarter-on-quarter

新浪港股00:00 ET

Damo: 50% of Great Wall Motor's (02333) non-operating income may become recurring income

Great Wall management said it will maintain the 2024 export target of 500,000 vehicles and focus on expanding Latin America, ASEAN, and the Middle East.

Zhitong Finance23:37 ET