(Bank of America Securities: Cuts Great Wall Motor's (02333.HK) target price to 12.8 Hong Kong dollars, first quarter performance below expectations)

According to the Zhitong Finance APP, Bank of America Securities released a research report stating that Great Wall Motors (02333.HK) plans to launch several new car models this year to increase sales volume. Considering the first quarter performance, Bank of America has lowered its sales volume forecast from this year to 2027 by 0.3% each, and its gross margin forecast has decreased by 2.5%, 2.3%, and 1.6% respectively, and net income forecast by 15%, 10%, and 8% respectively. The bank has lowered Great Wall Motors' H share target price from 14.6 Hong Kong dollars to 12.8 Hong Kong dollars, maintaining a "neutral" rating.