＜Research＞UBS: GEELY AUTO (00175.HK) 1Q Results in Line with Forecasts

　　GEELY AUTO (00175.HK) -0.110 (-1.251%) Short selling $18.23M; Ratio 19.254% 's 1Q24 results were in line with expectations, UBS released a research report saying. Of which, net profit was 6% higher than UBS' estimation, while operating profit was 9% lower than the broker's anticipation. Gross profit margin was 13.7%, higher than UBS' forecast of 12%.

　　The above mentioned 1Q24 results may beat some investors' expectations, as GEELY AUTO's net profit performance in 1Q24 has almost reached 100% of 1HFY2023, UBS said. However, news of intense price competition may have exacerbated investors' concerns about the Company's margin.

　　Summarizing the above factors, UBS rated GEELY AUTO at Buy, with a target price of $13.

　　(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-06-28 12:25.)