On June 17, Geely Auto fell 3.22% in regular trading, trading at 18.92 HKD/share, with turnover of 265 million HKD. The decline extends a multi-day pullback following the stock's 4.65% gain on June 15.

On the news front, Daiwa issued a research report downgrading Geely Auto by two notches from Buy to Hold, slashing its forward target price to 23.7 HKD. The investment bank cited a lack of strong sales growth catalysts in the near term. Daiwa noted that Geely's Q1 results showed revenue rising 15% year-over-year to 83.8 billion RMB, while net profit declined 27% year-over-year to 4.2 billion RMB, reflecting margin pressure amid intensifying competition.

Within the Automobile Manufacturers sector, stocks broadly declined. BYD Company fell 2.26%, XPeng fell 3.0%, Li Auto fell 2.14%, NIO fell 1.52%, while Leapmotor edged up 0.22%. Despite the downgrade, other brokerages remain constructive, with 41 firms maintaining Buy ratings and a consensus target of 28.03 HKD over the past 90 days.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)