GEELY AUTO (00175) rose more than 4% in morning trading. As of the time of writing, the stock was up 4.37% to HK$22.94, with a turnover of HK$484 million. The increase follows the company's announcement on April 1 of its performance data for the first quarter of 2026. During the period, GEELY AUTO achieved cumulative sales of 709,358 vehicles, setting a new historical record for the same period. Sales in March alone reached 233,031 units, representing a month-on-month increase of 13%. Sales of new energy vehicles totaled 369,059 units, with a penetration rate of 52%. The penetration rate further increased to 55% in March. Cumulative overseas exports reached 203,024 vehicles, a significant year-on-year increase of 126%, with export growth notably outpacing overall sales growth. HSBC 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 report raised profit forecasts for 2026 and 2027 by 15% and 14%, respectively, and increased the target price from HK$30 to HK$32, maintaining a "Buy" rating.
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