Citigroup: Great Wall Motors (02333.HK) falls far short of profit expectations in the first half of the year, rating downgraded to "sell"

According to the Smart Finance and Economics APP, Citigroup released a research report stating that Great Wall Motors (02333.HK) announced its preliminary net profit for the first half of 2026 to be between 2.35 billion and 2.6 billion RMB, a year-on-year decrease of 59% to 63%, indicating a net profit for the second quarter of 1.41 billion to 1.66 billion RMB, a year-on-year decrease of 64% to 69%, and a quarterly increase of 49% to 75%, far below the market's expectation of 2.99 billion RMB. The rating has been downgraded from "buy" to "sell", and the target price has been significantly reduced from 14.8 Hong Kong dollars to 7.3 Hong Kong dollars.