basketballarcade| Furui: Maintain Geely Automobile's "Buy" rating target price of HK$11.2

Furui released a research report saying that it maintains Geely Automobile's (00175)"Buy" rating, with a target price of 11basketballarcade.2 Hong Kong dollars.

The report stated that the company'sbasketballarcadeZeekr expanded its IPO scale and issued 21 million shares above the limit. However, Geely's shareholding has not been diluted and it is expected to achieve its sales target of 230,000 vehicles this year. The launch of a new medium-to medium-sized SUV in the second half of this year will serve as another catalyst for reassessing the valuation of Gekrypton. Considering cost-saving measures, the profit margin prospects of Geely brands are more optimistic.

The bank said that it had visited Geely's headquarters in Hangzhou earlier and learned that the group had no plans to add more production capacity and hoped to make full use of the group's existing factories by increasing its own sales or producing vehicles for other companies. On the basis of joint procurement, through the Joint Technical Review Meeting (TQR), more synergies can be achieved between different brands and cross-brand business opportunities can be shared. The group also plans to streamline internal combustion vehicle models and launch CMA

, six key models based on the BMA platform.

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