CMB International: Raises target price of Li Auto (09863.HK) to 80 Hong Kong dollars, expects strong sales momentum to continue.

According to the Wise Finance APP, CMB International Research released a research report stating that Zero Run Car (09863.HK) had a second quarter net profit of 163 million RMB, which was 115 million RMB higher than the bank's expectation. The bank expects strong sales momentum to continue until 2026, driven by the introduction of new car models and overseas production layout. Taking into account the expansion of economies of scale and the contribution of high-profit other income, the bank has raised its net profit forecast for Zero Run Car for the next two years by 220% and 129% respectively, to 927 million and 3.3 billion RMB. It maintains a "buy" rating with a target price raised from 72 HKD to 80 HKD.