Lyon: Geely Auto (00175.HK) first quarter performance meets expectations, expected full year net profit of 19.6 billion yuan.

According to the WiseNews Financial APP, a report released by Lyon stated that Geely Automobile (00175.HK) first quarter performance met the bank's expectations, with a net profit of 4.17 billion yuan. If excluding exchange losses, the core net profit was 4.56 billion yuan, a year-on-year increase of 31%. The gross profit margin for the period was 17.5%, an increase of 1.7 and 0.6 percentage points year-on-year and quarter-on-quarter, respectively. The bank reiterated its forecast for the company's net profit for this year, with a target price of HK$30 and maintaining a "highly confident outperforming the market" rating.