0407 GMT - Great Wall Motor's preliminary net profit for 2024 is largely in line with market expectations, Daiwa analyst Kelvin Lau writes in a note. The Chinese automaker guided for a net profit of between CNY12.4 billion and CNY13 billion last year, compared to the market consensus of CNY12.6 billion, he adds. While management didn't offer guidance on its 2025 sales target, plans are estimated to be settled after the Lunar New Year, Lau notes. Great Wall Motor's Russia sales volume will likely remain steady between 1.5 million and 1.6 million units this year, despite regional market concerns, Daiwa adds. The brokerage maintains buy rating on the stock, which is last at HK$12.80. (jiahui.huang@wsj.com; @ivy_jiahuihuang)
(END) Dow Jones Newswires
January 14, 2025 23:07 ET (04:07 GMT)
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