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RTNominal down23.000 -0.950 (-3.967%)
Research Report

09/06/2021 17:26

{I-bank focus}Credit Suisse cuts Geely Automobile to HK$26

[ET Net News Agency, 9 June 2021] Credit Suisse cut slight its target price for Geely
Automobile (00175) to HK$26 from HK$27 and maintained its "outperform" rating.
The research house said Geely's May wholesales volume sales are below the market's high
expectation. The key weakness came from its old products, such as Vision X3 SUV (down
36%), Vision X6 SUV (down 50%), Dihao GS SUV (down 61%), Xindihao sedan (down 40% YoY),
and Bin Rui sedan (down 31%).
Considering the lower-than-expected sales volume in year-to-date, Credit Suisse revised
down its 2021-23 net profit estimates by 2.2%-4.7%. (KL)

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