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00175 GEELY AUTO
RTNominal up9.050 +0.140 (+1.571%)
Research Report

08/11/2019 10:55

{I-bank focus}Daiwa lifts Geely Automobile (00175) to HK$20

[ET Net News Agency, 8 November 2019] Daiwa Research raised its target price for Geely
Automobile (00175) to HK$20 from HK$15 and maintained its "buy" rating.
The research house Geely to post net profit growth of 26% in 2020 after a 30% decline in
2019, driven by margin improvement and sales recovery as Geely will no longer have
National 5 inventory pressure and the high platform opening cost in 2019 should trend down
in 2020 with volume ramping up.
Daiwa believes moderating NEV (new energy vehicle) sales growth will have a limited
impact on Geely as NEV sales contributed only 5.8% of total sales in 9-month 2019. (KL)

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