[ET Net News Agency, 24 February 2020] Credit Suisse raised its target price for Great
Wall Motor (GWM)(02333) to HK$6.3 from HK$6.2 and maintained its "neutral" rating due to
its unattractive valuation.
The research house said GWM's full-year 2019 net profit declined 14% to Rmb4.5bn due to
last year's high base from Rmb1bn one-off interest income gains. The results implied 4Q
net profit rose 23% to Tmb1.58bn.
Credit Suisse said GWM's several subsidiaries received government recognition as
high-tech companies. As these subsidiaries' lower income tax rate is a recurrent benefit,
it
revised up GWM's 2019-21 profit estimates by 4.1%-6.8%. (KL)
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02333 GWMOTOR
Nominal 
11.020 -0.100 (-0.899%) Research Report
24/02/2020 16:58
{I-bank focus}Credit Suisse lifts Great Wall Motor to HK$6.3
| Remark: | Real time quote last updated: 19/04/2024 18:00 |
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