0436 GMT - Great Wall Motor's long-term growth outlook remains uncertain given the company's heavy reliance on exports to Russia and intense competition within China's auto industry, Morningstar analyst Vincent Sun writes in a note. The company's 2Q revenue was in line with expectations but core profit disappointed, he says. The miss was attributable to a gross margin contraction and a surge in sales expenses as competition, which led to retail discounts, Sun adds. Meanwhile, weak export sales failed to mitigate margin pressure in China's market, Sun says. Morningstar maintains its cautious view on the company's profitability and expects elevated costs to be sustained given prolonged price competition in China, he adds. Morningstar raises its fair value estimate to HK$11.50 from HK$10.50. Shares were recently at HK$19.27.(jiahui.huang@wsj.com; @ivy_jiahuihuang)

(END) Dow Jones Newswires

September 02, 2025 00:36 ET (04:36 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.