Lyon: Geely Automobile (00175.HK) overseas orders strong, maintains "highly confident outperforming the market" rating.

According to the Zhongtong Finance and Economics APP, Lyon released a research report stating that the pace of Geely Automobiles (00175.HK) overseas expansion is accelerating, with May exports reaching 85,000 vehicles. Management further stated that if not for logistics bottlenecks, monthly overseas orders could exceed 100,000 vehicles. Lyon predicts that as logistics issues are gradually resolved, monthly exports could reach 100,000 vehicles starting from June, driving the second half of the year's exports to around 600,000 vehicles. The annual export forecast has been revised from 800,000 vehicles to 1.06 million vehicles, accounting for approximately 32% of total sales. The bank maintains a "highly confident outperform market" rating and a target price of 30 Hong Kong dollars unchanged. The current forecast predicts Geely's total sales in 2026 to increase by 8.9% year-on-year to approximately 3.295 million vehicles, with revenue forecast lowered by 1.8% to 428.8 billion RMB and net profit forecast raised by 0.3% to 19.64 billion RMB.