BofAS Reports GWMOTOR's Last Quarter Results Fall Short
GWMOTOR's Financial Performance: GWMOTOR reported a 10% increase in preliminary revenue for 2025, reaching RMB222.8 billion, while net profit decreased by 22% to RMB9.9 billion, and net profit excluding one-off items dropped by 36% to RMB6.2 billion.
4Q25 Revenue and Profit Estimates: The estimated preliminary revenue for 4Q25 is RMB69.2 billion, reflecting a 15% year-over-year increase, but the net profit is expected to decline by 44% year-over-year to RMB1.3 billion, significantly below forecasts.
Market Reaction and Ratings: Following the results, GWMOTOR's stock experienced a decline of 4.83%, with short selling activity reported at $19.94 million and a ratio of 10.640%.
Analyst Outlook: BofA Securities maintained a Neutral rating on GWMOTOR, setting a target price of HKD18 amidst the mixed financial results.
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JPM Cuts LI AUTO-W Rating to Underweight; Recommends GEELY AUTO and SINOTRUK as Top Choices
Market Outlook: JP Morgan predicts the Chinese automobile market will experience a mixed performance in 2023, with potential negative growth similar to 2018, but also volatility driven by new model releases and seasonal trends akin to 2025.
Top Picks: The broker's top stock picks include GEELY AUTO and SINOTRUK, while they see potential in BYD COMPANY, LEAPMOTOR, XPENG-W, and NIO for future positioning.
Investment Ratings: JP Morgan has assigned various investment ratings and target prices for several automobile stocks, with BYD COMPANY and SINOTRUK rated as "Overweight," while LI AUTO-W has been downgraded to "Underweight."
Short Selling Data: The report includes short selling data for the stocks mentioned, indicating varying levels of market sentiment and potential risks associated with each stock.
<Research>BOCOMI Maintains Buy Rating on GWMOTOR; Earnings Flexibility This Year Expected to Rely on Efficiency Gains
Financial Performance: GWMOTOR's net profit for 2025 fell by 21.7% to RMB9.912 billion, despite a revenue increase of 10.2% year-on-year to RMB222.79 billion, as reported by BOCOMI.
Future Outlook: BOCOMI anticipates that GWMOTOR's earnings in 2026 will depend on efficiency improvements and overcoming overseas challenges, with a focus on direct sales efficiency to aid profit recovery.
Market Position: Citi has placed GWMOTOR on its 30-day downside catalyst watch, setting a target price of HKD18.9, while BOCOMI maintains a Buy rating with a higher target price of HKD22.5.
Short Selling Activity: As of February 3, 2026, GWMOTOR experienced short selling of $55.32 million, with a short selling ratio of 23.429%.
<Research>BOCOMI Maintains Buy Rating on GWMOTOR; Increased Investment Impacts Profitability
Financial Performance: GWMOTOR reported a 21.7% year-over-year decline in net profit to RMB9.912 billion, attributed to increased investments in a new direct-to-consumer model and brand enhancement despite growth in sales volume and revenue.
Market Outlook: BOCOMI maintains a Buy rating for GWMOTOR, citing potential medium-term benefits from strategies focused on premiumization, new energy, and overseas expansion, while acknowledging a temporary profit squeeze due to escalated investments in late 2025.
<Research>BOCI Lowers GWMOTOR's Rating to Sell and Reduces Target Price to HKD9.5
Revenue and Profit Decline: GWMOTOR's 4Q25 revenue increased by 13% QoQ to RMB69.2 billion, but net profit fell by 44% QoQ to RMB1.3 billion, significantly below expectations due to seasonal bonuses, low sales efficiency, and reduced tax rebates in Russia.
Operational Challenges: BOCI highlighted that GWMOTOR's extensive direct sales network and unclear sales prospects may hinder operational efficiency, posing significant risks to earnings.
Market Position in NEV: Despite efforts in new energy vehicle (NEV) sales, GWMOTOR is trailing behind competitors like GEELY AUTO and CHERY AUTO in market share and NEV transition.
Rating Downgrade: BOCI has downgraded GWMOTOR's rating from Hold to Sell and reduced its target price from HKD16 to HKD9.5.
CLSA Lowers GWMOTOR (02333.HK) Price Target to HKD15, Keeps Outperform Rating
GWMOTOR Financial Performance: GWMOTOR reported a 10% year-on-year revenue growth for 2025, but net profit declined by 22%, influenced by a significant year-end bonus provision.
Future Projections: CLSA forecasts a decline in GWM's domestic sales due to weakened demand and ongoing challenges in the Russian market, leading to reduced net profit estimates for 2026 and 2027.
Target Price Adjustments: The broker lowered GWM's target price for H-shares from HKD21 to HKD15 and for A-shares from RMB36 to RMB24, while maintaining an Outperform rating.
Market Context: Despite the challenges, CLSA anticipates GWM will remain resilient amid industry volatility, with expectations of improved unit profitability in the upcoming quarter.
Citi Places GWMOTOR (02333.HK) on 30-Day Downside Catalyst Watch; Target Price Set at HKD18.9
Citi's Research Report: Citi added GWMOTOR (02333.HK) to its 30-Day Downside Catalyst Watch, citing high inventory levels of ICEVs and predicting a de-stocking cycle in early 2026, along with a projected 26% YoY decline in domestic retail sales of ICEVs.
GWM's Performance: GWM's export volume in January fell by 30% MoM, underperforming competitors GEELY and BYD, and its 4Q25 results did not meet expectations. Despite this, Citi assigned a Buy rating with a target price of HKD18.9.
JPM Cuts LI AUTO-W Rating to Underweight; Recommends GEELY AUTO and SINOTRUK as Top Choices
Market Outlook: JP Morgan predicts the Chinese automobile market will experience a mixed performance in 2023, with potential negative growth similar to 2018, but also volatility driven by new model releases and seasonal trends akin to 2025.
Top Picks: The broker's top stock picks include GEELY AUTO and SINOTRUK, while they see potential in BYD COMPANY, LEAPMOTOR, XPENG-W, and NIO for future positioning.
Investment Ratings: JP Morgan has assigned various investment ratings and target prices for several automobile stocks, with BYD COMPANY and SINOTRUK rated as "Overweight," while LI AUTO-W has been downgraded to "Underweight."
Short Selling Data: The report includes short selling data for the stocks mentioned, indicating varying levels of market sentiment and potential risks associated with each stock.
<Research>BOCOMI Maintains Buy Rating on GWMOTOR; Earnings Flexibility This Year Expected to Rely on Efficiency Gains
Financial Performance: GWMOTOR's net profit for 2025 fell by 21.7% to RMB9.912 billion, despite a revenue increase of 10.2% year-on-year to RMB222.79 billion, as reported by BOCOMI.
Future Outlook: BOCOMI anticipates that GWMOTOR's earnings in 2026 will depend on efficiency improvements and overcoming overseas challenges, with a focus on direct sales efficiency to aid profit recovery.
Market Position: Citi has placed GWMOTOR on its 30-day downside catalyst watch, setting a target price of HKD18.9, while BOCOMI maintains a Buy rating with a higher target price of HKD22.5.
Short Selling Activity: As of February 3, 2026, GWMOTOR experienced short selling of $55.32 million, with a short selling ratio of 23.429%.
<Research>BOCOMI Maintains Buy Rating on GWMOTOR; Increased Investment Impacts Profitability
Financial Performance: GWMOTOR reported a 21.7% year-over-year decline in net profit to RMB9.912 billion, attributed to increased investments in a new direct-to-consumer model and brand enhancement despite growth in sales volume and revenue.
Market Outlook: BOCOMI maintains a Buy rating for GWMOTOR, citing potential medium-term benefits from strategies focused on premiumization, new energy, and overseas expansion, while acknowledging a temporary profit squeeze due to escalated investments in late 2025.
<Research>BOCI Lowers GWMOTOR's Rating to Sell and Reduces Target Price to HKD9.5
Revenue and Profit Decline: GWMOTOR's 4Q25 revenue increased by 13% QoQ to RMB69.2 billion, but net profit fell by 44% QoQ to RMB1.3 billion, significantly below expectations due to seasonal bonuses, low sales efficiency, and reduced tax rebates in Russia.
Operational Challenges: BOCI highlighted that GWMOTOR's extensive direct sales network and unclear sales prospects may hinder operational efficiency, posing significant risks to earnings.
Market Position in NEV: Despite efforts in new energy vehicle (NEV) sales, GWMOTOR is trailing behind competitors like GEELY AUTO and CHERY AUTO in market share and NEV transition.
Rating Downgrade: BOCI has downgraded GWMOTOR's rating from Hold to Sell and reduced its target price from HKD16 to HKD9.5.
CLSA Lowers GWMOTOR (02333.HK) Price Target to HKD15, Keeps Outperform Rating
GWMOTOR Financial Performance: GWMOTOR reported a 10% year-on-year revenue growth for 2025, but net profit declined by 22%, influenced by a significant year-end bonus provision.
Future Projections: CLSA forecasts a decline in GWM's domestic sales due to weakened demand and ongoing challenges in the Russian market, leading to reduced net profit estimates for 2026 and 2027.
Target Price Adjustments: The broker lowered GWM's target price for H-shares from HKD21 to HKD15 and for A-shares from RMB36 to RMB24, while maintaining an Outperform rating.
Market Context: Despite the challenges, CLSA anticipates GWM will remain resilient amid industry volatility, with expectations of improved unit profitability in the upcoming quarter.
Citi Places GWMOTOR (02333.HK) on 30-Day Downside Catalyst Watch; Target Price Set at HKD18.9
Citi's Research Report: Citi added GWMOTOR (02333.HK) to its 30-Day Downside Catalyst Watch, citing high inventory levels of ICEVs and predicting a de-stocking cycle in early 2026, along with a projected 26% YoY decline in domestic retail sales of ICEVs.
GWM's Performance: GWM's export volume in January fell by 30% MoM, underperforming competitors GEELY and BYD, and its 4Q25 results did not meet expectations. Despite this, Citi assigned a Buy rating with a target price of HKD18.9.
