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RT Nominal up0.420 +0.070 (+20.000%)

25/09/2020 10:35

{I-bank focus}Daiwa upgrades Geely Auto (00175) to HK$18.6

[ET Net News Agency, 25 September 2020] Daiwa Research raised its target price for
Geely Automobile (00175) to HK$18.6 from HK$16.4 and upgraded its rating to "buy" from
"hold".
Geely on 23 September released its new BEV (battery electric vehicle) Sustainable
Experience Architecture (SEA) platform, an open-source platform with a range of impressive
features, including "a million-mile battery" ahead of the Beijing Motor Show.
The research house is more positive on its NEV (new energy vehicle) development and
forecast strong net-profit growth of 31% for 2021.
Geely also released its Zero Concept BEV based on the SEA platform to be launched from
2H 2021. The Zero Concept will have a driving range of over 700km with a long-life battery
of 2m km. In light of the successful development of the SEA platform and existing SPA
platform (the BEV platform under Volvo), Daiwa expects accelerated launches of BEV models
from Geely from 2021 onwards with competitive features. (KL)

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