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RTNominal down2.020 -0.040 (-1.942%)
Research Report

06/02/2024 15:37

{I-bank focus}CMB lowers Yongda Auto (03669) to HKD2.8

[ET Net News Agency, 6 February 2024] CMB International lowered the target price for
Yongda Auto (03669) to HKD2.8 from HKD5 and maintained the "buy" rating.
The research house said it projects Yongda's 2H23E net profit to fall 53% HoH to
RMB189mn amid a deteriorating new-car GPM. It cuts FY24E net profit by 45% to RMB670mn,
due to slower-than-expected new car GPM recovery given fiercer competition from premium
NEV models to traditional luxury brands. (RC)

Remark: Real time quote last updated: 29/05/2024 17:59
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