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<Research>CMBI Cuts GWMOTOR (02333.HK) TP to $20, Maintains Buy Rating
Recommend 18 Positive 11 Negative 11 |
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CMB International released a report, maintaining a Buy rating for GWMOTOR (02333.HK), while lowering the target price from HKD22 to HKD20, based on 12x FY2026E P/E. Despite GWMOTOR's 3Q25 GPM miss, efficient cost controls on SG&A and R&D still positioned the company to achieve a record high sales volume in FY2025. The broker also forecast that GWMOTOR's sales volume will lift 16% YoY to 1.57 million units in FY2026, marking the highest growth rate since FY2017. The broker expected the "Tank" series to continue as a foundation of GWMOTOR's resilient earnings, while the "WEY" and "ORA" brands are anticipated to become growth engines for sales in FY2026. AASTOCKS Financial News Website: www.aastocks.com |
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