On July 17, Great Wall Motor fell 3.06% in regular trading, trading at HKD 8.53/share, with turnover of HKD 120 million. The decline came amid a broad auto sector selloff and a significant target price cut from Jefferies.

Jefferies lowered its target price on Great Wall Motor from HKD 22 to HKD 14, maintaining a Buy rating. The bank noted that the company's H1 profit warning appeared more severe than the underlying reality. Reported net profit of RMB 23.5-26 billion represents a 59%-63% YoY decline, primarily driven by a RMB 22.7 billion delay in Russian scrapping subsidy recognition and RMB 17.6 billion in FX headwinds. Excluding these items, Jefferies estimates core net profit at RMB 64-66 billion, roughly flat versus H1 last year. The firm cut its FY2026/2027 net profit forecasts to RMB 94 billion and RMB 131 billion respectively.

The broader Automobile Manufacturers sector saw widespread weakness, with BYD down 3.9%, XPeng down 9.28%, Geely down 6.5%, Li Auto down 3.77%, and Leapmotor down 5.26%.

(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.)