CICC: Maintains Chery Automobile (09973.HK) "Outperform" rating, target price HK$35, bullish on new energy and intelligent technology layout

Zhitong Finance APP has learned that CICC issued a research report stating that it maintains its net profit forecasts for Chery Automobile (09973.HK) for 2026 and 2027 unchanged at RMB 20.2 billion and RMB 25.1 billion, respectively, and maintains an "Outperform" rating and a target price of HK$35, implying 43% upside from the current share price. The bank believes that the company continues to improve its layout in new energy and intelligent technologies, its export business continues to grow at a high rate, and its impressive export performance is expected to support solid and improving operating results in the third quarter. Looking ahead to 2027, the company guides for 20% growth in sales volume and profit and will accelerate localized construction in the EU to respond to changes in trade policy and enhance global competitiveness.