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00175 GEELY AUTO
RTNominal down10.040 -0.340 (-3.276%)
Research Report

07/12/2010 11:31

[I-bank focus] Strong China auto sales seen for December

Nomura said China's November PV sales reached
1.1mn, up 11.2% m-m and 29.6% y-y, slightly short of the house's estimates.
But it still expects strong December sales, thanks to strong fundamental demand, as well
as expiry of purchasing tax incentives. The research house expects a generally positive
policy stance in 2011, while there could be some restrictive finetuning, which could exert
downward pressure on the share prices.
Nomrua reaffirmed its "buys" rating on Dongfeng (00489), Geely (00175) and Great Wall
(02333), which continued to post strong sales. (KL)

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