摩根士丹利此前发布研报称，考虑到新车业务利润率下降、国际汽车品牌的中国市场份额减少拖累销量表现，以及汽车维修业务增长放缓等因素，目前将汽车经销商2024至2026年盈利预测下调21%至62%。Meidong Auto (01268) fell nearly 9% after issuing a profit warning. As of press time, it has dropped 8.82%, to HK$1.55, with a turnover of HK$3.209 million.
According to the Zhitong Financial APP, Meidong Auto (01268) fell nearly 9% after issuing a profit warning. As of press time, it has dropped 8.82%, to HK$1.55, with a turnover of HK$3.209 million.
On the news front, Meidong Auto issued a profit warning, expecting the company's equity shareholders' losses for mid-2024 to be no more than RMB 30 million, compared to a surplus of approximately RMB 44.7 million for mid-2023, a year-on-year change from profit to loss. The loss is mainly due to an estimated year-on-year decrease in gross profit of no more than 20% during the period; the company conducted impairment assessments, resulting in a non-cash goodwill and dealer rights impairment totaling approximately RMB 0.15 billion for underperforming cash-generating units and dealerships up to mid-2024.
According to a research report released by Morgan Stanley, considering the decline in the profit margin of the new car business, the decrease in market share of international car brands in China, and the slowdown in the growth of the car repair business, the profit forecast for car dealers has been lowered by 21% to 62% for the years 2024 to 2026.