Orient Securities·2024-09-17 00:39Investment Rating - The report maintains a "Buy" rating for the company [2][4] Core Views - The overall sales performance of Geely Auto in August was impressive, with total sales reaching 181,200 units, a year-on-year increase of 21.5% and a month-on-month increase of 20.2%. New energy vehicle sales were 75,500 units, up 64.9% year-on-year and 27.8% month-on-month. Exports reached 45,000 units, a year-on-year increase of 97.5% and a month-on-month increase of 39.1% [1] - The Zeekr brand showed steady growth in sales and improved intelligent driving capabilities, with August sales of 18,000 units, a year-on-year increase of 46.4% and a month-on-month increase of 15.1% [1] - The Lynk & Co brand also saw continued growth, with August sales of 22,500 units, a year-on-year increase of 20.5% and a month-on-month increase of 5.9% [1] Financial Forecasts - The forecast for EPS from 2024 to 2026 is 1.48, 0.94, and 1.18 CNY respectively, with a target price of 10.50 CNY and 11.53 HKD, maintaining a PE ratio of 14 times for comparable companies in 2024 [2]