CICC: Maintaining Target Price of 30 Hong Kong Dollars for GEELY AUTO (00175) Highly Confident in "Outperforming the Market"

CICC Lion released a research report stating that it maintains a target price of HK$30 for GEELY AUTO (00175) and a highly confident "Outperform" rating. The bank stated that Geely exported 85,000 vehicles in May. According to management, if not for logistics bottlenecks, overseas orders in May could have exceeded 100,000 vehicles. With logistics issues gradually easing in June, CICC Lion expects overseas sales to reach 100,000 vehicles, bringing the sales volume forecast for the second half of the year to approximately 600,000 vehicles, and raising the export volume forecast for 2026 to 1.06 million vehicles. In the domestic market, due to the strong sales momentum of Jihe Aion and continuous improvement in intelligent driving configurations, the sales forecast has been raised to 372,000 vehicles.