CMBI: Cuts Great Wall Motor (02333.HK) H-share Target Price by 39.3%, Maintains "Buy" Rating

CMBI issued a research report stating that it has lowered the H-share target price of Great Wall Motor (02333.HK) by 39.3%, from HK$14 to HK$8.5, with the A-share target price cut in tandem, while maintaining a "Buy" rating; due to the reduction in export tax rebates, the rise in battery consumption tax, and the uncertainty over scrappage tax rebates, the net profit forecasts for 2026 and 2027 have both been lowered by 30%, to RMB 5.3 billion and RMB 6.4 billion.