Core Viewpoint - Geely Automobile (00175) is expected to benefit from its internal combustion engine (ICE) and new energy vehicle (NEV) strategies, which may mitigate potential impacts from electric vehicle subsidy policies [1] Group 1: Market Positioning and Sales Forecast - The company maintains a target price of HKD 23 and a "high conviction outperform" rating [1] - Geely anticipates that its market share for new energy vehicles will exceed 29% this year, with export volume reaching 420,000 units [1] - The firm is entering new markets in Latin America and Europe while launching more NEV models overseas, which supports confidence in achieving its targets [1] Group 2: Sales Projections - Based on strong domestic and international prospects, Geely's Galaxy monthly sales are expected to exceed 150,000 units [1] - Overall sales for Geely this year are projected to surpass the target of 3 million units, with internal combustion engine sales expected to reach at least 1 million units [1]

Core Viewpoint - The report from Citi maintains a target price of HKD 23 for Geely Automobile and rates it as "highly confident to outperform the market" due to its positioning in both internal combustion engine and new energy vehicle sectors [1] Group 1: Market Positioning - Geely's market positioning may benefit from new energy vehicle subsidy policies [1] - The company expects to exceed 29% market share in the new energy vehicle sector this year, driven by expansion into new markets in Latin America and Europe [1] Group 2: Sales Projections - Geely is confident in achieving a monthly sales target of over 150,000 units for the Galaxy model [1] - The overall sales target for Geely this year is over 3 million units, with internal combustion engine sales expected to reach at least 1 million units [1]