CICC International: Ideal Auto-W (02015.HK) i8 price expectations are favorable, but configuration and new models may bring pressure. Maintain "Neutral" rating.

According to the Tencent Finance APP, CICC released a research report stating that the final pricing of the new model i8 of Ideal Auto-W (02015.HK) exceeded expectations, reaching 321,800-369,800 RMB. However, feedback from consumer channels and buyer institutions indicates that the upcoming new models may pose challenges for Ideal Auto. The target price is maintained at 103.7 Hong Kong dollars with a "neutral" rating. The bank believes that although the pricing of i8 is better than expected, there may be discrepancies in terms of configuration compared to consumers' expectations. The launch of several six-seater SUVs priced at around 300,000 RMB in the second half of the year may intensify the competition in the current market.