Ge Long Hui·2025-10-28 03:12Group 1 - The core viewpoint of the report is that China Great Wall Motor Company maintains a "buy" rating, with a target price adjusted from HKD 22 to HKD 20, reflecting a projected price-to-earnings ratio of 12 times for the next year [1] - Despite the gross margin for the third quarter of 2025 not meeting expectations, effective control over sales, general and administrative expenses, and research and development costs positions the company to achieve record-high sales in the fiscal year 2025 [1] - The forecast for Great Wall Motor's sales in the fiscal year 2026 is an annual increase of 16% to 1.57 million units, marking the highest growth rate since the fiscal year 2017 [1] Group 2 - The Tank series is expected to continue as a solid profit foundation for Great Wall Motor, while the Wey and Ora brands are anticipated to become the engines of sales growth in the fiscal year 2026 [1]