Lyon: Significantly raise the target price of Geely Automobile to 30 Hong Kong dollars, maintain "outperform the market" rating.

A report from Lyon indicates that Geely's subsidiaries, Lynk & Co and Polestar, have gradually achieved profitability, with technological upgrades and new models driving the continuous record sales of the Galaxy series. The high-end Polestar models are also gradually gaining momentum. In addition, the development of export business is significantly ahead of target and is expected to become another major growth driver. The bank estimates that by 2026, export business may contribute approximately 20% of the group's overall net profit. The bank predicts that Geely's total sales volume this year will reach 3.4 million vehicles, including 800,000 exports; with a per-vehicle profit of about 5,800 yuan, increasing to approximately 4,500 yuan by 2025. Due to the upward revision of forecasts, the bank has raised its target price from 23 Hong Kong dollars to 30 Hong Kong dollars and maintains a "beat the market" rating.