Latest news with #GeelyAutomobileHoldings
Business Insider
4 days ago
- Automotive
- Business Insider
Jefferies Sticks to Its Buy Rating for Geely Automobile Holdings (GELYF)
In a report released today, Xiaoyi Lei from Jefferies maintained a Buy rating on Geely Automobile Holdings, with a price target of HK$22.80. The company's shares closed today at $2.00. Don't Miss TipRanks' Half-Year Sale Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week. Lei covers the Consumer Cyclical sector, focusing on stocks such as Geely Automobile Holdings, Li Auto, Inc. Class A, and Zhejiang Leapmotor Technology Co., Ltd. Class H. According to TipRanks, Lei has an average return of 22.0% and a 65.63% success rate on recommended stocks. Currently, the analyst consensus on Geely Automobile Holdings is a Strong Buy with an average price target of $2.85. Based on Geely Automobile Holdings' latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $132.89 billion and a net profit of $6.03 billion. In comparison, last year the company earned a revenue of $106.02 billion and had a net profit of $3.74 billion
Straits Times
03-07-2025
- Automotive
- Straits Times
BYD sales hit new high in June after China's top EV maker slashed prices
Sign up now: Get ST's newsletters delivered to your inbox Despite the discounts, BYD sales barely grew month on month, putting it under pressure to hit its annual target for 5.5 million deliveries. BEIJING – BYD's sales climbed to a fresh monthly high for 2025 after a round of price cuts, though the move sparked scrutiny from government authorities and drew criticism from industry groups. The Chinese car-making juggernaut sold 377,628 passenger vehicles in June, including 206,884 battery electric cars. That was up 11 per cent from a year earlier, helping to push first-half volumes to 2.1 million units, according to a statement on July 2. But sales barely grew month on month, placing greater pressure on BYD's second-half strategy to hit its annual target for 5.5 million deliveries. The incremental rise in sales takes BYD's performance through June to 2.1 million units, but that means it needs to sell 559,000 units for each of the remaining six months on average At the same time, rival Geely Automobile Holdings sold more than 193,000 cars in June, a 59 per cent year-on-year increase. The showing prompted Geely to raise its delivery target for 2025 by 11 per cent to 3 million. The sales figures signal BYD's discounting of as much as 34 per cent across some models in late May didn't give it the sales bump it had hoped for. In its top-selling home market of China, the EV giant's passenger car sales have declined for three straight months and the scrutiny that's come alongside its price cuts cloud the outlook for the second half. Investor qualm about the hit to profit margins has wiped more than US$20 billion (S$25.5 billion) from the company's market value and the aggressive discounts have attracted the ire of policymakers, who chided the industry for 'rate race competition' and warned car companies they should self-regulate on prices. Top stories Swipe. Select. Stay informed. Singapore Singapore and Cambodia to expand collaboration in renewable energy, carbon markets and agri-trade Asia US, India push for trade pact after Trump strikes deal with Vietnam: Sources Business Microsoft cutting 9,000 jobs companywide in second major wave of layoffs this year Opinion How Apple gave 'the gift of fire' to Chinese electronics firms Life Sean 'Diddy' Combs to remain jailed ahead of sentencing, judge rules Singapore Granddaughter of Hin Leong founder O.K. Lim fails to keep 3 insurance policies from creditors' reach Asia Dalai Lama says only his organisation can name his successor; Beijing pushes back World Iran's nuclear programme degraded by up to two years, Pentagon says Still, even with domestic momentum in China slowing, BYD has managed to sustain strong growth in Europe. Data released by Jato Dynamics indicated the Chinese automaker almost matched Tesla's European registrations in May, building on its initial out-performance of its US rival in April. It nearly quadrupled European sales in the first four months of 2025, figures from researcher Dataforce show. Pressured by regulators, BYD has ended some discounts in China and joined a collective industry pledge to standardise bill payments for suppliers to 60 days as authorities scrutinize the use of supply chain financing as a form of debt. BYD meanwhile has shelved plans to build a major plant in Mexico over geopolitical tensions and uncertainty stemming from US President Donald Trump's trade policies. The company remains interested in expanding in the Americas but has no timeline to make a new investment, BYD executive vice president Stella Li said in an interview on July 2 in the Brazilian state of Bahia, where the company is opening its first factory outside Asia. 'Geopolitical issues have a big impact on the automotive industry,' Ms Li said. 'Now everybody is rethinking their strategy in other countries. We want to wait for more clarity before making our decision.' US President Donald Trump announced sweeping tariffs on dozens of US trading partners and separate taxes on certain imports including autos, upending industry supply lines. General Motors in June said it would spend US$4 billion in a plan to shift production of several pickup and SUV models from factories in Mexico to the United States. BLOOMBERG
Yahoo
02-07-2025
- Automotive
- Yahoo
Morgan Stanley highlights near-term opportunity in this China auto stock
-- Morgan Stanley has identified Geely Automobile Holdings (OTC:GELYF) as a 'research tactical idea' in a note Wednesday, seeing near-term upside potential in the stock. The firm expects the share price to rise in absolute terms over the next 15 days. The positive outlook follows Geely Group's recent revision of its full-year volume guidance, which was raised by 11% to 3 million units from 2.71 million units. Morgan Stanley highlighted that this upgrade is 'largely from Geely Galaxy,' which 'accounted for 39% of total sales volume and contributed ~85% of the year-over-year increment year-to-date.' The analysts emphasized the strength of the Geely Galaxy model pipeline, noting that models A7 and M9 'will fuel stronger sales momentum into the second half.' Morgan Stanley estimates a '70% to 80% (or 'very likely') probability' for this scenario, signaling a strong conviction in the company's near-term growth prospects. The firm's valuation approach is based on a discounted cash flow model with a weighted average cost of capital of 11.2% and a terminal growth rate of 3%. Morgan Stanley also outlined key risks to its overall outlook for the stock. Upside risks include 'vehicle purchasing stimulus extension,' 'more meaningful reduction in losses for its NEV businesses, via scale benefits,' and 'stronger-than-expected profitability, driven by sales of its key products.' Downside risks include 'a more notable than expected slowdown in domestic vehicle demand,' 'expanding losses at Geely's NEV businesses amid price competition,' and 'a slowdown in overseas sales due to competition and protectionism.'Related articles Morgan Stanley highlights near-term opportunity in this China auto stock Starbucks stock could double from recent lows, says Bernstein Tesla's Q2 deliveries miss consensus expectations Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Times
27-05-2025
- Automotive
- Business Times
BYD shares extend losses as price cuts throw spotlight on sales
[HONG KONG] BYD shares extended losses in Hong Kong trading on Tuesday (May 27) – taking their two-day slide to more than 10 per cent – as last week's sweeping price cuts stoked concern of another wave of discounting in China's cutthroat electric car market. The stock fell as much as 4 per cent in morning trading, following Monday's 8.6 per cent drop. The sell-off was sparked after the electric vehicle giant announced cuts of as much as 34 per cent on 22 electric and plug-in hybrid models in China until the end of June. The move came after the company last month posted its slowest year-on-year growth in vehicle deliveries in more than four years. While April sales rose 21 per cent from a year earlier, that was the smallest monthly gain since August 2020, except for a drop in deliveries in February last year, when the Chinese New Year holiday saw nationwide industry sales contract 22 per cent. Rival Geely Automobile Holdings's compact hatchback Xingyuan last month became the top-selling model in China, overtaking BYD's popular Seagull, according to data from the China Automotive Technology and Research Center. Morgan Stanley analysts said the price competition sparked by BYD is likely to drag on, with ripple effects into the second half of the year. The steep price cuts have taken some of the gloss off what has so far been a stellar year for BYD. The stock hit a record high last week, it posted its best month of sales in China and outsold Tesla in Europe for the first time in April, and raised HK$43.5 billion (S$5.5 billion) in a Hong Kong share sale in March. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Before this week's slide, BYD Hong Kong-traded shares had surged almost 75 per cent this year, and with a market value equal to around US$158 billion, is bigger than Ford Motor, General Motors and Volkswagen combined. On the technology front, it has unveiled a lineup of cars it says can charge in five minutes, and started to make its God's Eye advanced driver-assistance system standard in vehicles priced from 100,000 yuan (S$13,900) and include it in several lower-cost models such as the popular Seagull hatchback. Some of the recently discounted models include those equipped with God's Eye. Investors will get more insight into how BYD is tracking when monthly sales for May are released on Sunday. BLOOMBERG
Business Times
15-05-2025
- Automotive
- Business Times
Geely profits surge on record sales as reshuffle underway
[HONG KONG] Geely Automobile Holdings, the Hong Kong-listed unit of billionaire Li Shufu's sprawling auto empire, said that first-quarter profit surged as sales climbed and it continued on a cost-cutting drive to stay on top of China's ultra-competitive car market. Net income more than tripled to 5.67 billion yuan (S$1 billion) in the three months ended Mar 31, from 1.56 billion yuan a year earlier, the company said on Thursday (May 15). That was broadly in line with guidance the company provided last month following a change in its accounting policy. Revenue rose 25 per cent to 72.5 billion yuan. 'The group achieved record-high sales and experienced strong growth in its new energy business,' it said. 'This led to significant scale effects and a substantial increase in overall profitability.' Geely Auto earlier this month announced a bid to take the premium electric car brand Zeekr private. The move, which came almost exactly a year after Zeekr started trading in New York, values Zeekr at about US$6.4 billion and is part of Li's drive to streamline his business empire – which also includes a stake in Volvo Car, iconic UK sportscar brand Lotus, and the maker of London's ubiquitous black taxis. Separately, Zeekr on Thursday reported a first-quarter net loss of 718 million yuan, narrowing 63 per cent from last year. Total revenue was largely flat, increasing just 1.1 per cent to 22 billion yuan. Zeekr merged with the Lynk & Co connected car brand earlier this year, and the period was the first quarter with the full integration of the two marques, Zeekr Group chief executive officer Andy An said. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up 'The two brands' initial technological consolidation has already boosted profitability through optimised R&D and shared platforms,' An said. Geely recorded net current liabilities of 11.3 billion yuan, but said that after a comprehensive assessment, this has no significant impact on its ability to continue, because the business continues to generate stable cash flows, has good relationships with financial institutions and is carrying out plans to improve liquidity, it said. Geely continues to enjoy strong growth in China, with deliveries rising 48 per cent in the first three months of this year. Popular models such as the electric Xingyuan hatchback and Xingyue L sport utility vehicle are among the best-selling vehicles in the world's largest auto market. But like other Chinese automakers, Geely is facing stiff trade headwinds. The European Union's tariffs on Chinese electric vehicles and the increase in taxes on car imports and weak consumer sentiment in Russia – where Geely is a top seller, are impacting exports. Overseas deliveries grew just small 2 per cent in the first quarter, compared with a 66 per cent surge in a year earlier, according to a separate company filing in April. BLOOMBERG
