Citigroup: Conducting a 30-day positive catalyst observation on Geely, target price of 26 Hong Kong dollars.

Citigroup released a research report stating that they will conduct a 30-day positive catalyst observation on Geely and recommend a "buy" rating with a target price of HK$26. The bank predicts that the company will deliver 690,000 vehicles in the first quarter of this year, with an average selling price increasing by 8% each quarter. Including non-vehicle income, the expected income is about 91 billion yuan; the comprehensive gross margin is expected to increase by 0.3 percentage points to 17.2%; assuming the ratio of sales and management expenses to quarterly income is 12.4%, the core net profit is expected to range from 3.8 billion yuan to 4.2 billion yuan, surpassing market expectations.