BOCI Securities: Upgrade Geely Automobile (00175) target price to HK$32, expected to challenge leading position.

According to the Wisdom Finance APP, CCB International has released a research report stating that Geely Automobile (00175) saw a 7.3% increase in second quarter revenue from the previous quarter, while sales remained stable. Core net profit decreased slightly from 35 billion yuan in the first quarter to 32 billion yuan, which is roughly in line with expectations. The bank is optimistic that Geely will continue to narrow the gap with the current electric vehicle leader, based on its expanding market share in China, upcoming overseas expansion, and leading position in smart electric vehicle technology. The "Buy" rating is reiterated, with the target price increased from HK$29 to HK$32.