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<Research>UBS: GEELY AUTO 1Q Results Solid, Progressing Orderly Toward Full-Yr Sales Guidance
Recommend 17 Positive 19 Negative 9 |
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GEELY AUTO (00175.HK)'s 1Q26 net profit reached RMB4.2 billion, down 27% YoY but up 18% QoQ, according to a UBS research report. Excluding one-off gains and losses like foreign exchange impacts, core net profit would have soared by 30% QoQ or 31% YoY to RMB4.6 billion. Benefiting from improved sales volume and margins, GEELY AUTO's 1Q26 net profit accounted for 21% of the market's full-year forecast. UBS believes the results were better than market expectations. In addition, GEELY AUTO's 1Q26 sales volume reached 3.45 million vehicles, representing 21% of management's full-year target of 3.45 million units, while the exports of 640,000 vehicles accounted for 32% of the target. UBS believes the carmaker is progressing orderly toward its guidance, and overseas sales will have further upside potential. UBS has given GEELY AUTO a Neutral rating and a target price of HKD20. Auto-translated by AI This article was automatically translated by AI, the original language version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. More Details
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