Movement Alert|Great Wall Motor Falls 3.37% in Regular Trading, Auto Sector Broadly Weak as Institutions Continue Cutting Target Prices

Market Focus06-22

On June 22, Great Wall Motor fell 3.37% in regular trading, trading at HK$9.64/share, with turnover of HK$26.86 million. The decline came amid broad-based weakness across the automobile manufacturing sector.

On the news front, multiple institutional downgrades continued to weigh on sentiment. Daiwa Capital Markets recently cut its target price to HK$15, while CMB International also lowered its H-share target price to HK$19, reflecting persistently declining earnings expectations. Additionally, approximately 10.92 million shares from an equity incentive plan became unlocked on June 16, representing 0.13% of total share capital. Although the proportion is small, the unlock intensified selling pressure amid the prevailing weak market conditions. May auto retail sales declined 16% year-over-year, with deteriorating industry fundamentals continuing to drag on sector valuations.

Within the Automobile Manufacturers sector, peers declined broadly. Among individual stocks, BYD Company down 4.14%, Geely Auto down 4.84%, Li Auto down 3.65%, XPeng down 2.52%, NIO down 3.82%.

(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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