Bank of America Securities: Raises profit forecasts for Geely Automobile (00175.HK) for the next two years, target price slightly increased to HKD 27.6.

According to the Zhitong Finance APP, Bank of America Securities has released a research report stating that Geely Automobile (00175.HK) achieved expected results in the second quarter, with a year-on-year revenue increase of 14% and a gross margin improvement of 1.4 percentage points to 18.4%. This was mainly driven by economies of scale and an increased proportion of sales from Zeekr and overseas markets, which enhanced the product mix. Based on an average price-to-earnings ratio and discounted cash flow, the target price has been slightly raised from HKD 27.3 to HKD 27.6, and the rating remains at "Buy."