HK Stock Price Fluctuated | Great Wall Motor (02333) rises over 4%. The company launches the high-performance luxury pickup truck, the Mountain and Sea Cannon Performance Edition.

Great Wall Motor (02333) rose more than 4% and closed at a 4.66% increase, at HKD 12.12, with a trading volume of HKD 211 million. On November 17th, Great Wall Motor's large high-performance luxury pickup, the Shangchai Pao Performance Edition, was officially launched at the Guangzhou Auto Show, with an official guide price of CNY 279,800. The Shangchai Pao Performance Edition has body dimensions of 5462mm*1992mm*1960mm, with overall dimensions close to full-size level. It is equipped with the most powerful 3.0TV6+9AT power combination domestically, with a maximum net power of 260kW and a maximum net torque of 500Nm. ANXIN International released a research report stating that they maintain a "buy" rating, and the company's third-quarter performance far exceeded expectations. They have raised the company's net profit forecast for 2023-2025 to CNY 7.2 billion, CNY 10.3 billion, and CNY 13 billion respectively and raised the target price to HKD 16, corresponding to a forecasted P/E ratio of 17.4 times for 2023. By the third quarter of 2023, the company aims to achieve exports of 212,000 units, a year-on-year increase of 89%, with monthly exports exceeding 30,000 units in August and September, and the company expects sales in overseas markets to reach 300,000 units in 2023. The bank believes that Great Wall Motor's export strategy is well-established, with significant investment and mature export business development, and exports have become an important driver of the company's sales and profit growth.