[ET Net News Agency, 21 May 2021] Macquarie Research resumed coverage of Geely
Automobile (00175) with an "outperform" rating and a target price of HK$23.21.
The research house applied a 9-factor framework to determine Geely's competitiveness
among China auto OEMs. It found the auto manufacturer scores high in foundation (design,
manufacturing, economy scale), meets expectations in marketing (branding, sales channel),
but underperforms in technology, especially electromobility, given it has the most
deficits in corporate average fuel consumption (CAFC) under China's dual credit system.
Macquarie projected 66%/27%/19% net profit growth in FY2021/22/23. (KL)