Daiwa Securities: Expects Geely Automobile (00175.HK) to earn 4.8 billion to 5 billion RMB in the second quarter, reiterated "buy" rating.

According to the Wise Finance and Economics app, Morgan Stanley released a research report stating that Geely Auto (00175.HK) benefits from a good combination of high-end and overseas market products, and is expected to anchor profit growth in the second quarter, thus offsetting the sales performance suppressed by domestic channel inventory digestion. The bank reiterated its "buy" rating for Geely Auto, with a target price of 28 Hong Kong dollars. The bank expects that its profit growth cycle will reverse the industry's downward cycle, with the launch of new models and more than doubling growth in overseas markets, profit growth momentum is expected to continue into the second half of the year.