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HSBC Downgrades Great Wall Motor to Reduce From Hold; Price Target Is 8.35 Yuan
Research Reports Gold Mining | Caitong: Great Wall Motor's New energy Fund sales are rapidly increasing, maintaining a "Shareholding" rating.
Caitong's Research Reports indicate that in December, Great Wall Motor (601633.SH) had total sales of 135,000 vehicles, an increase of 20.25% year-on-year. Among these, the sales of Electric Vehicles reached 42,000 units, a year-on-year growth of 41.55%; overseas sales were 41,000 units, a year-on-year increase of 23.35%. The company launched the new generation intelligent driving system Coffee Pilot Ultra and the smart space system Coffee OS 3, with nationwide NOA launch in all scenarios. The company's globalization production is steadily advancing, with the Brazil factory expected to start production in mid-2025. Great Wall Motor's first travel vehicle S20.
Great Wall Motor Co: Strategic International Expansion and Product Innovation Drive Buy Rating
Cui Dongshu: In November, the retail sales of Electric Vehicles increased nearly 50% year-on-year, with strong growth momentum continuing.
In 2024, there will be intense changes in the domestic New energy Fund landscape, with the leading effects of traditional car manufacturers such as BYD, Geely, and Chery becoming increasingly evident, while the lower to mid-range segments remain relatively strong.
In 2024, the seventh batch of Electric Vehicles exempt from vehicle purchase tax has been announced. Cui Dongshu: There are a variety of products with high energy density in Batteries.
In 2024, there are a total of 20,085 models of Electric Vehicles in the tax exemption directory. Due to the large number in the first batch, the quantity of Electric Vehicles in the directory is relatively higher than the normal levels in recent years.
Hong Kong stock movement | Great Wall Motor (02333) is currently down more than 3%. Annual sales year-on-year remain flat. Institutions expect the automotive price war to continue this year.
Great Wall Motor (02333) is currently down over 3%. As of the time of this report, it has fallen by 3.67%, priced at 12.6 Hong Kong dollars, with a transaction volume of 0.15 billion Hong Kong dollars.
