智通财经网·2025-10-16 02:49Core Viewpoint - Morgan Stanley has a positive outlook on GAC Group (02238) due to the significant recovery of its joint venture with Toyota, believing it enhances the long-term profit prospects, with a target price of HKD 3.9 and a rating of "Overweight" [1] Group 1: Company Developments - GAC Group is set to launch a new vehicle in November in collaboration with JD Group-SW (09618) and CATL (03750) [1] - The new vehicle is expected to be a battery-swapping version of the existing Aion model, utilizing CATL's technology and leveraging JD's e-commerce platform for sales [1] - While the impact of the product launch may not meet some investors' high expectations, it is viewed as a strong marketing initiative [1] Group 2: Market Position and Brand Recognition - Morgan Stanley believes that the news will help enhance brand awareness and allow the brand to reach a different customer base [1] - The profitability turning point for Aion is anticipated to take time, but the recent developments are seen as beneficial for market positioning [1]