GEELY AUTO Surges Over 5% in Morning Trading as HSBC Raises Target Price to HK$32

Deep News04-02

GEELY AUTO (00175) climbed more than 5% during the morning session. At the time of writing, the stock had risen 5.01% to HK$23.08, with a turnover of HK$820 million.

On April 1, GEELY AUTO reported that its cumulative sales for the first quarter of 2026 reached 709,358 vehicles, setting a new historical high for the same period. Sales in March alone were 233,031 units, up 13% month-on-month. During the quarter, cumulative new energy vehicle sales amounted to 369,059 units, with a penetration rate of 52%. The penetration rate further increased to 55% in March. Cumulative overseas exports during the period reached 203,024 vehicles, a year-on-year increase of 126%, with export growth significantly outpacing overall sales growth.

HSBC Holdings PLC released a research report stating that, looking ahead, the launch of new domestic models, growth in exports, and cost synergies following the restructuring of Zeekr and Lynk & Co are expected to support sales and margin expansion in 2026. The bank raised its profit forecasts for 2026 and 2027 by 15% and 14%, respectively, and increased its target price from HK$30 to HK$32, maintaining a "Buy" rating.

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