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HK stocks fluctuated | Auto stocks fell in early trading, Canada plans to impose tariffs on Chinese electric vehicles, and institutions remain bullish on the industry entering the peak season.
Autos stocks fell across the board in the morning session. As of the time of writing, Li Auto Inc (02015.W) fell 5.06%, closing at HKD 79.75; Great Wall Motor (02333) fell 3%, closing at HKD 10.36; Brilliance China Automotive (01114) fell 2.36%, closing at HKD 3.31.
Express News | HKEX- Censures Brilliance China Automotive
BOCI Securities: Downgrade Brilliance China rating to "hold", with target price adjusted to 3.5 Hong Kong dollars.
China International has released a research report stating that it has downgraded Brilliance China (01114) to a "hold" rating, lowering its net income forecast for 2024 to 2025 to 3.5 billion and 330 million yuan, respectively. Among them, Brilliance BMW's profit was revised down to 19.2 billion and 1.5 billion yuan, reflecting lower sales forecasts and net margin assumptions. The target price has been adjusted to HKD 3.5. The company's current stock price is significantly higher than the bank's estimated net cash holdings (approximately HKD 1.9 per share), and it is believed that the current valuation does not fully reflect the downward risk of Brilliance BMW's profitability and the difficult-to-maintain high dividend. The report also stated that the company's net income in the first half of the year decreased by 60.7% year-on-year, partially...
Soochow Securities: Domestic local electric vehicle sales impressive, industry chain Q3 demand improvement.
Domestic electric vehicle sales in July met expectations, with an expected annual growth rate of around 25%. Sales growth in Europe, America, and other regions continues to be weak.
Brilliance China Automotive Holdings Logs Lower Profit in H1, Revenue Exceeds Estimates
Hong Kong stocks: Brilliance China (01114) opened nearly 7% lower after the results, with a decrease in automotive finance income and a 60% decrease in net profit in the first half of the year.
Brilliance Chi (01114) opened nearly 7% lower after performance announcement, as of press time, it fell 6.63%, with a price of 3.52 Hong Kong dollars and a turnover of 15.4176 million Hong Kong dollars.
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C L7 : Everyday inflow but share price still shit
woodark : Anyone know iff to buy now, can still can the dividend in time?