Dahua Ji Xian: Maintains "Buy" Rating on Great Wall Motor (02333) with Target Price Adjusted Down to 17.5 Hong Kong Dollars.

Dahua Jixian released a research report stating that it has lowered the earnings per share forecast for Great Wall Motor (02333) for the fiscal years 2024 to 2026 by 17%, 22%, and 22% respectively. At the same time, the target price has been lowered to HK$17.5, with a "buy" rating. The bank predicts that Great Wall Motor's net profit for the fourth quarter of the fiscal year 2024 will be between 19.72 billion and 25.72 billion yuan. Due to the impact of year-end promotional activities exceeding expectations, as well as an unexpected one-time year-end bonus of 39 billion yuan, the bank expects Great Wall Motor's performance in the fourth quarter of fiscal year 2024 to be lower than expected.