0723 GMT - Great Wall Motor's strong product cycle's potential to sustain volume and margin growth will likely be the main driver of earnings, HSBC Global Research analysts write in a note. The company's new model pipeline and initiated product refreshes in 2Q and 3Q have been driving volume growth, while largely maintaining--or even cutting prices compared with older models, they say. The company's total overseas sales remained resilient due to aggressive expansion in non-Russian markets, including Brazil and Australia. The brokerage upgrades its rating for the stock to buy from hold, citing higher non-operating income and gross margin. HSBC Global Research raises its target price to HK$21.60 from HK$11.90. Shares are last at HK$18.62. (jiahui.huang@wsj.com; @ivy_jiahuihuang)

(END) Dow Jones Newswires

August 26, 2025 03:23 ET (07:23 GMT)

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