On July 13, Great Wall Motor (02333.HK) declined 3.01% in regular trading, trading at HKD 8.38, with turnover of approximately HKD 35.99 million. The decline was driven by a combination of a broker target price downgrade and broad-based weakness across the auto sector.
Daiwa Capital Markets (大华继显) recently cut its target price on Great Wall Motor from HKD 15 to HKD 12, citing domestic market pressure and model transition headwinds that led to below-expectation June sales. Data shows the company sold 108,080 vehicles in June, down 2.36% year-over-year, while production rose 9.8% to 119,262 units, with the widening production-sales gap signaling rising inventory pressure. For the first half, cumulative sales reached 583,895 units, representing only 32% of the company's full-year target of 1.8 million units.
The broader automobile sector traded under pressure simultaneously. Within the sector, BYD Company fell 1.47%, XPeng declined 2.48%, Geely Auto dropped 2.74%, Li Auto slipped 1.01%, and Leapmotor fell 4.77%, reflecting sector-wide selling.
(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.)
Comments