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<Research>CMSI: GEELY AUTO to Embrace Big Year for New Energy Products; Off-Season/ Policy Vacuum Period as Good Opportunities to Buy
According to a report from CMSI, GEELY AUTO (00175.HK) recorded a wholesale volume of 210,000 vehicles in December last year, up 40% YoY but down 16% MoM. Its annual wholesale volu...
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<Research>CMSI: GEELY AUTO to Embrace Big Year for New Energy Products; Off-Season/ Policy Vacuum Period as Good Opportunities to Buy
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Positive
26
Negative
20
 
 

According to a report from CMSI, GEELY AUTO (00175.HK)  -0.020 (-0.143%)    Short selling $141.42M; Ratio 28.865%   recorded a wholesale volume of 210,000 vehicles in December last year, up 40% YoY but down 16% MoM. Its annual wholesale volume grew 32% YoY to 2.177 million vehicles, surpassing the target of 2 million units by 8.8%.

GEELY AUTO's target in 2025 is 2.71 million vehicles. Seeing that the company exceeded its sales target while achieving balanced growth in new energy and fuel vehicles last year, the broker believed that its strong growth will continue this year.

Related NewsPing An Securities Expects Stimulus Effect of CN Auto 'Trade-in' Policy to Exceed 2024, Scrappage & Renewal Policy to Boost Auto Consumption by 3.5M Units
In addition, as GEELY AUTO's vehicle manufacturing technology framework continues to innovate with a large number of highly competitive new products being launched, the broker foresaw a big year for new energy products to come.

In CMSI's opinion, market sentiment may be dampened by the car market switching to the off-season in January and February this year and a temporary vacuum period in national subsidy policies. However, the broker suggested that investors should buy on dips during the off-season as the national subsidy policy to be implemented in March will resonate and take a leap with GEELY AUTO's new product cycle.

The broker selected GEELY AUTO as its industry top pick. It kept an Overweight rating on the company with a target price of $21.8.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2025-01-09 16:25.)

Related NewsCMSI: Top Picks GEELY AUTO/ FUYAO GLASS for Autos/ Parts, Followed by BYD COMPANY

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