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Express News | Ministry of Industry and Information Technology: Documents such as the Management Measures for the Comprehensive Utilization of New Energy Vehicle Power Batteries are being studied and drafted as soon as possible
Bank Ratings | Bank of America: Lowering GAC Group's Target Price to HK$3.9, Lowering Revenue and Earnings Per Share Forecast for 2024-26
Glonghui, April 29 | Bank of America Securities published a research report stating that GAC Group's first-quarter results fell short of market expectations. Revenue fell 19% to 22 billion yuan year-on-year, and profit fell 21% to 1.2 billion yuan, mainly due to weak sales volume between GAC Toyota and GAC Honda during the period, and joint venture brands increasing rebates to dealers in price competition, which led to a decrease in the profit contribution of joint ventures and joint ventures. The gross margin increased by 3 percentage points to 5.4%, driven by improved product portfolios and lower raw material prices for batteries. According to the bank, GAC Trumpchi continues to deepen cooperation with Huawei and announced the launch of a joint innovation plan at the Beijing Auto Show. Trumpchi
Big Bank Rating | Damo: I believe GAC's stock price will rise by more than 80% within 45 days
Glonghui, April 29 | Morgan Stanley published a research report stating that the “trade-in” policy recently announced in the Mainland will benefit GAC's sales performance of low-end and mid-range internal combustion engine vehicles (ICEVs) and new energy vehicles (NEVs). The bank also expects that the H share repurchase plan announced earlier by GAC will gradually be launched after the company's shareholders' meeting in May this year. Combining the above factors, Damo believes that GAC's stock price is likely to rise by more than 80% within 45 days. It also set a target price of HK$6.3 for H shares, with a rating of “increase in holdings.”
GAC GROUP(2238.HK):IN-LINE 1Q24 EARNINGS
GAC Group (GAC)'s 1Q24 results were largely in line with our prior estimates and
Li Qiang: The NEV market in China and the world continues to grow, and there is huge room for demand
① Li Qiang said that China's intelligent connected NEVs have formed a leading edge in market competition and open cooperation, and efforts must continue to be made to maintain and develop their advantages; ② Li Qiang stressed that the current NEV market in China and the global market continues to grow.
How much can NEV stocks benefit from trade-in to inject strength into the automobile market?
The trade-in subsidy is stronger than the previous policy concessions, and the effect of driving sales will exceed expectations!
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