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Auto retailers Pusu Yongda Auto (03669) rose by 10.64%, with institutions expecting sustained increase in year-end car purchase demand.
Jinwu Financial News | Car dealers/auto retailers generally rise, yongda auto (03669) increases by 10.64%, meidong auto (01268) rises by 5.13%, harmony auto (03836) rises by 2.82%, zhengtongauto (01728) rises by 2.5%, zhongsheng hldg (00881) increases by 2.31%. Senior economist Xu Changming from the National Information Center stated today at the 2024 Automotive Finance Industry Summit that the domestic wholesale sales volume of passenger vehicles is expected to be 23 million units for the whole year, a year-on-year increase of 2.7%, and terminal sales are expected to reach about 23.5 million units, a year-on-year increase of 6-7%, for the entire year new.
yongda auto (03669.HK) spent 1.81 million Hong Kong dollars on repurchasing 0.963 million shares on November 14th.
Gelonghui reported on November 14 that yongda auto (03669.HK) announced that on November 14, it spent 1.81 million Hong Kong dollars to repurchase 0.963 million shares.
JPMorgan upgraded yongda auto's rating to 'Neutral' and raised the target price to 1.9 Hong Kong dollars.
A jpmorgan research report indicates that the management of yongda auto explained the measures for new energy electric vehicles, especially the deepened collaboration with Huawei on HarmonyOS Intelligent Driving (HIMA) and further expansion of the distribution network for Huawei-related products next year. The bank expects the gross margin for new car sales related to Huawei products to reach 4% to 4.5%, raising the company's profit forecast for 2025 to 2026 by 18% to 20% to reflect fundamental improvements, and upgrading the shareholding rating from "reduce" to "neutral," with the target price raised from 1.1 HKD to 1.9 HKD. The bank welcomes the cooperation between the company and Huawei, believing it will help enhance.
[Brokerage Focus] jpmorgan upgraded yongda auto (03669) to a 'Neutral' rating, bullish on its cooperation prospects with Huawei.
Jingwu Financial News | JPMorgan issued a research report indicating that Yongda Auto (03669) deepens its cooperation with Huawei, particularly in collaboration on HarmonyOS Intelligent Driving (HIMA), which will further expand its new energy fund sales network. By 2025, it is expected that stores selling Huawei-related new energy vehicles will account for 30% of its total dealer network. The report indicates that this strategic move will significantly enhance its new car sales business and increase gross margin. The gross margin for new car sales of Huawei-related products is expected to reach 4-4.5%, significantly higher than the current gross margin of foreign brands. Additionally, the report also forecasts that as the average under the Huawei brand grows.
[Hong Kong Stock Connect] Yongda Auto (03669) rose nearly 5% against the trend. In the first half of the year, new store authorizations were obtained from Huawei, Xiaomi, etc. Institutions indicate that this will bring profitability flexibility.
Goldwool Financial News | Yongda Auto (03669) saw its stock price rise against the market trend in the morning, reporting HKD 1.91, up 4.95%, with a transaction volume of 27.3195 million HKD. On the news front, China International Capital Corporation stated that the company has newly obtained store authorizations from Huawei, Xiaomi, and others in 1H24. The firm is bullish on the development potential of the company's distribution channels in collaboration with new energy brands like Huawei's smart choice, as well as the profit flexibility it brings to the company. The firm temporarily maintains its profit forecast for the company unchanged. Switching to the 2025 valuation, the company's current price corresponds to 11.9x/9.1x 2024e/2025e P/E, and the firm is bullish on the company's new energy.
Hong Kong stock market anomaly | Yongda Auto (03669) rose nearly 5%, with rich existing network and authorization. Huawei HiCar may bring important profit increment to the company.
Yongda Auto (03669) is up nearly 5%, as of this writing, up 4.95%, reported at HKD 1.9, with a turnover of HKD 14.4995 million.
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