CICC: Maintains Geely Automobile (00175.HK) "Outperform" rating with target price of HK$20.50

Zhitong Finance APP has learned that CICC has issued a research report stating it maintains an "Outperform" rating on Geely Automobile (00175.HK) with a target price of HK$20.50, corresponding to P/E ratios of 9.0x and 7.5x for 2026 and 2027 respectively, implying 48.1% upside from the current share price. The bank expects the company's net profit for 2026 and 2027 to be RMB 21.3 billion and RMB 24.9 billion respectively. The company's Q3 2026 results were in line with the bank's expectations, with revenue of RMB 98.96 billion and net profit attributable to shareholders of RMB 4.84 billion. The bank believes that high export growth combined with Zeekr's volume ramp-up is expected to support sales growth and product mix optimization.