华域汽车-2025 年执行稳健，业绩超预期

Strengthens our thesis Modest upside Modest revision higher Impact to our thesis Financial results versus consensus Direction of next 12-month consensus EPS March 30, 2026 12:58 PM GMT Huayu Automotive | Asia Pacific Steady 2025 execution – results beat Reaction to earnings Source: Company data, Morgan Stanley Research Key Takeaways Full-year 2025 total revenue of Rmb184bn and NPAT of Rmb7.2bn both beat our estimates, by 5.9% and 4.5%, respectively. On a quarterly basis, revenue hit a historical high at Rmb ...