UBS: Geely Auto (00175.HK) maintains stable performance in the first quarter and orderly achieves annual sales target.

According to the Zhixin Finance APP, UBS released a research report stating that Geely Automobile (00175.HK), excluding one-time gains and losses from exchange rates, had a core net profit of 4.6 billion yuan, an increase of 30% on a quarterly basis and 31% year-on-year. Benefiting from improvements in sales volume and profit margin, first-quarter net profit has reached 21% of the market's full-year forecast, and it is believed that the performance is better than market expectations. The target price is set at 20 Hong Kong dollars.