On July 9, Great Wall Motor fell 3.08% in regular trading, trading at HK$8.48/share, with turnover of HK$34.83 million. The decline came as the broader automobile sector faced selling pressure, compounded by a broker's target price downgrade.
Daiwa Capital Markets recently cut its target price on Great Wall Motor from HK$15 to HK$12, citing domestic market headwinds and model transition impacts that led to weaker-than-expected June sales. The firm noted an unclear outlook for the company going forward.
Data showed Great Wall Motor sold 108,080 vehicles in June, down 2.36% year-over-year, while production rose 9.8% to 119,262 units. The widening production-sales gap signals rising inventory pressure. For the first half, cumulative sales reached 583,895 units, up only 2.48% year-over-year. The sector broadly declined, with BYD Company down 1.81%, Geely Auto down 4.37%, XPeng down 2.21%, Li Auto down 2.27%, and Leapmotor down 2.55%.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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