Lyon: Geely Automobile (00175.HK) product line is strong and progressing as planned, reiterating the "highly confident of outperforming the market" rating with a target price of HK$23.

Financial news app Zhitong learned that, according to a report released by Lyon, Geely Auto (00175.HK) recently launched the plug-in hybrid electric vehicle (PHEV) Galaxy A7. Lyon remains optimistic about Geely Auto's strong sales growth and profit improvement, citing reasons including a lower actual price reduction in this round of competition than market expectations, around 1,000 to 2,000 Chinese yuan; increased penetration rate of its new GEA platform and higher profitability per vehicle from the addition of new energy vehicle (NEV) sales; and a strong product lineup expected in the fiscal year 2025. The report reaffirms a "highly confident outperform the market" rating for Geely Auto with a target price of 23 Hong Kong dollars, citing confidence in the company's strong product lineup and planned progress.