Investors interested in Auto-Tires-Trucks stocks should always be looking to find the best-performing companies in the group. Is Geely Automobile Holdings Ltd. (GELYY) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Auto-Tires-Trucks peers, we might be able to answer that question.Geely Automobile Holdings Ltd. is one of 108 individual stocks in the Auto-Tires-Trucks sector. Collectively, these companies sit at #11 in the Zacks Sector Rank. The Za ...

证券研究报告 | 公司动态点评 2024 年 04月 07日 吉利汽车（00175.HK） 一季度销售表现出色，多形式应对行业价格竞争压力 财务指标 2022A 2023A 2024E 2025E 2026E 增持（维持评级） 营业收入（百万元） 147,964.65 179,203.59 225,957.63 277,159.63 328,545.02 股票信息 增长率yoy（%） 45.62 21.11 26.09 22.66 18.54 行业 汽车 归母净利润（百万元） 5,260.35 5,308.41 6,224.55 7,754.08 9,509.46 2024年4月5日收盘价（港元） 9.400 增长率yoy（%） 8.52 0.91 17.26 24.57 22.64 总市值（百万港元） 94,595.79 ROE（%） 7.00 6.59 7.37 8.68 9.97 流通市值（百万港元） 94,595.79 EPS最新摊薄（元） 0.52 0.53 0.62 0.77 0.94 总股本（百万股） 10,063.38 流通股本（百万股） 10,063.38 P/E（倍） 17.98 17.8 ...

吉利汽车（175） 更新报告 买入 2024年4月10日 毛利率触底反弹，盈利能力将持续改善  毛利率反弹，核心净利润大幅增长：公司实现全年实现营业收入 邹瀚逸 1798.5 亿元，同比+21%；实现毛利 274.2 亿元，同比+31.2%， 毛利率触底反弹 1.2pct.至 15.3%。归母净利润 53.1 亿元，同比 852-33367861 +1%，剔除出 22 年公司收购韩国雷诺带来的一次性收益后，23 Robin.zou@firstshanghai.com.hk 年公司核心净利润同比大幅增长 51%。公司净现金水平达到 284 亿元，同比+46%。 陈晓霞  2023 年销量创历史新高，新能源车占比提升：2023 年公司销量 创历史新高的 168.7 万辆，同比+18%，分品牌来看:吉利品牌 852-25321956 130.96 万辆，同比+16%；领克 22.03 万辆，同比+22%；极氪 xx.chen@firstshanghai.com.hk 11.87 万辆，同比+65%。主要得益于三方面：1）在燃油车方 面，依托 CMA 平台优秀表现，中国“星”系列销量销量稳步提 主要数据 高。2） ...

Investment Rating - The report maintains a "Buy" rating for Geely Automobile [2][7] Core Views - Geely Automobile's revenue for 2023 reached RMB 179.2 billion, a year-on-year increase of 21.1%, with a net profit of RMB 5.308 billion, excluding one-time gains from 2022, reflecting a year-on-year increase of 51% [2] - The company achieved total sales of 1.687 million vehicles, with 487,000 of those being new energy vehicles, representing a penetration rate of nearly 30% [2] - The report highlights significant growth in overseas sales, which reached 274,000 units, a year-on-year increase of 38%, accounting for 16.3% of total sales [2] Financial Performance Summary - Revenue and profit forecasts for 2024-2026 have been revised upwards, with 2024 revenue expected to be RMB 217.2 billion and net profit RMB 7.414 billion, reflecting a year-on-year growth of 40.7% [2] - The gross margin for the second half of 2023 improved to 15.9%, driven by reduced raw material costs and enhanced scale effects [2] - The report projects a continued improvement in profitability for the Lynk & Co and Zeekr brands, with expectations of reduced losses and potential for profitability in the near future [2] Market Outlook - Geely is expected to continue its aggressive expansion in overseas markets, leveraging its technology and product offerings [2] - The company plans to launch nine core models across its three brands in 2024, focusing on electric and hybrid vehicles priced between RMB 100,000 to 300,000 [2] - The report emphasizes the importance of a long-term strategy in navigating the competitive automotive landscape, suggesting that Geely's systematic approach will help maintain its competitive edge [2]

证券研究报告·海外公司点评·汽车(HS) 吉利汽车（00175.HK） 3 月销量同比高增，新车发布加速智能化转 2024 年 04月 07日 型 证券分析师 黄细里 买入（维持） 执业证书：S0600520010001 021-60199793 [ 盈Ta 利bl 预e_ 测EP 与S] 估 值 2022A 2023A 2024E 2025E 2026E huangxl@dwzq.com.cn 证券分析师 杨惠冰 营业总收入（百万元） 148,565 179,846 213,465 258,106 300,070 执业证书：S0600523070004 同比 45.63% 21.06% 18.69% 20.91% 16.26% yanghb@dwzq.com.cn 归母净利润（百万元） 5,260 5,308 7,929 11,459 13,816 同比 8.52% 0.91% 49.37% 44.53% 20.56% 股价走势 EPS-最新摊薄（元/股） 0.52 0.53 0.79 1.14 1.37 吉利汽车 恒生指数 P/E（现价&最新摊薄） 15.37 15.23 10.20 7.06 5.85 ...

证券研究报告 | 公司动态点评 2024 年 04月 01日 吉利汽车（00175.HK） 公司坚持油电并举发展，新能源子品牌营收向好 财务指标 2022A 2023A 2024E 2025E 2026E 增持（维持评级） 营业收入（百万元） 147,964.65 179,203.59 225,957.63 277,159.63 328,545.02 股票信息 增长率yoy（%） 45.62 21.11 26.09 22.66 18.54 行业 汽车 归母净利润（百万元） 5,260.35 5,308.41 6,224.55 7,754.08 9,509.46 2024年3月28日收盘价（港元） 9.240 增长率yoy（%） 8.52 0.91 17.26 24.57 22.64 总市值（百万港元） 92,985.65 ROE（%） 7.00 6.59 7.37 8.68 9.97 流通市值（百万港元） 92,985.65 EPS最新摊薄（元） 0.52 0.53 0.62 0.77 0.94 总股本（百万股） 10,063.38 流通股本（百万股） 10,063.38 P/E（倍） 17.68 17.52 ...

The Auto-Tires-Trucks group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Geely Automobile Holdings Ltd. (GELYY) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? By taking a look at the stock's year-to-date performance in comparison to its Auto-Tires-Trucks peers, we might be able to answer that question.Geely Automobile Holdings Ltd. is one of 108 c ...

吉利汽车（0175.HK）系列点评六 批发销量高增 极氪 001 再创佳绩 2024年04月02日 ➢ 事件概述：公司发布24年3月销量公告，3月批发总销量15.1万辆，同比 推荐 维持评级 +36.7%，环比+35.4%；1-3月累计47.6万辆，同比+47.5%。 当前价格： 9.24港元 其中，3月新能源销量44,791辆，同比+59.4%，环比+33.7%，渗透率29.7%； 1-3 月新能源销售 14.4 万辆，同比+130.9%。3 月出口销量 36,405 辆，同比 +80.9%，环比+49.4%，1-3月累计出口8.7万辆，同比+65.0%。分品牌看： [Table_Author] 吉利品牌 3 月销量 11.8 万辆（银河 10,185 辆），1-3 月累计 38.1 万辆（银河 3.9万辆），同比+43.6%；极氪3月销量13,012辆，1-3月累计33,059辆，同 比+117.0%；领克3月销量19,671辆，1-3月销售61,056辆，同比+64.3%。 ➢ 3月批发销量高增 新能源表现亮眼。3月需求逐步恢复，车企进入加库期， 公司批发总销量（含领克）15.1万辆，同比+39%，环比 ...

Investment Rating - The investment rating for the company is not explicitly stated in the provided documents, but the report suggests continuous attention to the company due to its accelerating transformation and growth potential in the new energy sector [5]. Core Insights - The company achieved significant sales growth in March 2024, with total vehicle sales reaching 151,000 units, representing a year-on-year increase of 38.5% and a month-on-month increase of 35.4% [1]. - The company is expanding its global market presence, with exports in March 2024 reaching 36,000 units, a year-on-year increase of 80.9% [4]. - New product launches, including various models under the "Longteng" series, are expected to further boost sales [3]. Summary by Sections Sales Performance - In March 2024, the company's sales by brand included 118,000 units for the Geely brand, 13,000 units for the Zeekr brand, and 20,000 units for the Lynk & Co brand, with respective year-on-year increases of 33.9%, 95.3%, and 40.5% [2]. - Cumulative sales for Q1 2024 reached 476,000 units, a year-on-year increase of 49.5% [1]. New Energy Vehicles - In March 2024, the company sold 45,000 new energy vehicles, marking a year-on-year increase of 65.3% [2]. - The penetration rate of new energy vehicles reached 30.3%, an increase of 11.7 percentage points year-on-year [2]. Product Development - The launch of new models, including the Galaxy E5 and Lynk & Co 07 EM-P, is expected to enhance the product lineup and drive sales growth [3]. Global Expansion - The company is actively expanding its overseas market, with plans to establish stores in major Southeast Asian cities and the introduction of right-hand drive models [4]. - The export volume accounted for 18.3% of total sales in Q1 2024, reflecting a strategic focus on international markets [4]. Financial Projections - Revenue projections for 2024-2026 are estimated at 223.21 billion, 266.34 billion, and 306.59 billion yuan, with respective growth rates of 24.6%, 19.3%, and 15.1% [5]. - Net profit forecasts for the same period are 7.08 billion, 8.53 billion, and 9.98 billion yuan, with growth rates of 33.4%, 20.5%, and 16.9% [5].

Investment Rating - The investment rating for the company is "Buy" and is maintained [8]. Core Insights - The company achieved a revenue of 179.2 billion yuan in 2023, representing a year-on-year growth of 21.1%, and a net profit attributable to shareholders of 5.31 billion yuan, which is a 0.9% increase year-on-year [2][5]. - In the second half of 2023, the company reported a revenue of 106.02 billion yuan, up 18.1% year-on-year, and a net profit of 3.74 billion yuan, reflecting a growth of 0.8% [2][5]. - The revenue growth is driven by product upgrades, economies of scale, and cost reductions, leading to an improved gross margin [5][6]. - The company is expected to see strong profit elasticity as the scale effect of new energy vehicles becomes more apparent in 2024 [6]. Summary by Sections Revenue Performance - The company reported a total revenue of 179.2 billion yuan in 2023, with automotive sales-related revenue at 149.62 billion yuan, marking a 21.9% increase year-on-year [5]. - The total vehicle sales reached 1.687 million units, a 17.7% increase year-on-year, resulting in a per vehicle revenue of 104,800 yuan, which is a 2.1% increase [5]. Profitability - The net profit attributable to shareholders was 5.31 billion yuan, which is a 51% increase compared to the previous year after excluding one-time gains [5]. - The gross margin improved to 15.3% in 2023, up 1.2 percentage points year-on-year, with the second half of the year showing a gross margin of 15.9%, an increase of 2.1 percentage points [5]. New Energy Transition - The company is entering a new cycle of intelligent electric vehicles, with significant upgrades in its hybrid and electric vehicle technologies [6]. - The launch of new models in 2024 is expected to accelerate the transition to new energy vehicles, with a total of 9 new models planned across its brands [6]. - The projected net profits for 2024, 2025, and 2026 are 7.1 billion, 10.1 billion, and 12.1 billion yuan respectively, with corresponding PE ratios of 12X, 8X, and 7X [6].