＜Research＞CICC Covers GEELY AUTO (00175.HK) Again w/ Rating Outperform, TP $10.26

　　CICC covered GEELY AUTO (00175.HK) +0.060 (+0.765%) Short selling $52.48M; Ratio 28.481% again, with rating at Outperform and a target price of $10.26, corresponding to a 2024 PE ratio of 12.2x.

　　GEELY AUTO is China's leading independent auto brand, with a market share of 6.44% in 2023, ranking sixth, CICC said. CICC was optimistic about the Company's multi-brand effort brought about by the strong product cycle and resilient results.

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　　The reasons of the broker's re-coverage of GEELY AUTO include the intensive launch of multi-brand products and comprehensively refreshed new energy product cycle.

　　The profitability of Zeekr and LYNK & CO are expected to improve, with more solid diversified profit structure. The Group's advantageous resource sharing and globalization strategy are well prepared.

　　(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-07-26 16:25.)

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