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00175 GEELY AUTO
RTNominal down10.040 -0.340 (-3.276%)
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06/01/2017 10:58

[I-bank focus]Geely to see challenges in 2017 - Macquarie

[ET Net News Agency, 6 January 2017] Geely Automobile (00175) reported December auto
shipment data yesterday, with total sales volume jumping 50% YoY to 766k units in 2016,
after a solid month in December with shipments doubling YoY to 108k units.
Macquarie Research said the 2016 figure is 9% ahead of the research house's forecast.
The company announced its sales target of 1m units for 2017, which Macquarie views as
bullish. But it believes Geely could face challenges in 2017 on rising costs, demanding
valuation and tough comps.
Macquarie maintained its "underperform" rating on the stock, with a target price of
HK$6.5. (KL)

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