Bank of America Securities issued a research report stating that GWMOTOR (02333) achieved sales of 116,000 units in August, representing a 22% year-over-year increase and 11% month-over-month growth. The firm maintains a "Neutral" rating on GWMOTOR H-shares, believing that the company's strong product lineup and moderate profit growth have been fully valued by the market. The target price has been raised from HK$19 to HK$19.5.

Due to overvaluation of GWMOTOR A-shares, the firm has assigned an "Underperform" rating to the A-shares, lowering the target price from RMB 27.4 to RMB 24.6.

The report cited management indicating that the newly launched Menglong model averages 300-400 new daily orders, while Gaoshan 8 and Gaoshan 9 average 200-300 new daily orders. The redesigned Tank 500 currently has an order backlog exceeding 15,000 units.

Management expects monthly sales to continue growing month-over-month through the end of the year, supported by new model launches and steady sales growth in overseas markets.