CLSA: GWMOTOR (02333) Q3 Net Profit Misses Expectations, Reiterates "Outperform" Rating

Stock News

Oct 28

GWMOTOR (02333) reported a 20.5% year-on-year revenue growth in the third quarter, though its gross margin declined by 0.4 percentage points quarter-on-quarter to 18.4%, and net profit fell short of market expectations. However, CLSA remains optimistic, citing the company's plans to launch new models in both mass-market and premium segments next year. The firm believes GWMOTOR's premiumization strategy will further materialize, boosting exports to regions like Europe and supporting higher average selling prices.

CLSA highlights GWMOTOR's technological edge and sustained pricing power as key drivers for next year's growth. Despite lowering its 2023 revenue and net profit forecasts by 0.5% and 10.8%, respectively, due to Q3 earnings adjustments, the brokerage reaffirmed an "Outperform" rating with a target price of HK$21.

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However, CLSA remains optimistic, citing the company's plans to launch new models in both mass-market and premium segments next year. The firm believes GWMOTOR's premiumization strategy will further materialize, boosting exports to regions like Europe and supporting higher average selling prices.</p>\n<p>CLSA highlights GWMOTOR's technological edge and sustained pricing power as key drivers for next year's growth. Despite lowering its 2023 revenue and net profit forecasts by 0.5% and 10.8%, respectively, due to Q3 earnings adjustments, the brokerage reaffirmed an \"Outperform\" rating with a target price of HK$21.</p>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>CLSA: GWMOTOR (02333) Q3 Net Profit Misses Expectations, Reiterates \"Outperform\" Rating</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCLSA: GWMOTOR (02333) Q3 Net Profit Misses Expectations, Reiterates \"Outperform\" Rating\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036600163\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://community-static.tradeup.com/news/b3bf6d02ad1a6e9e7377eebbb162346a);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Stock News </p>\n<p class=\"h-time\">2025-10-28 11:18</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>GWMOTOR (02333) reported a 20.5% year-on-year revenue growth in the third quarter, though its gross margin declined by 0.4 percentage points quarter-on-quarter to 18.4%, and net profit fell short of market expectations. However, CLSA remains optimistic, citing the company's plans to launch new models in both mass-market and premium segments next year. The firm believes GWMOTOR's premiumization strategy will further materialize, boosting exports to regions like Europe and supporting higher average selling prices.</p>\n<p>CLSA highlights GWMOTOR's technological edge and sustained pricing power as key drivers for next year's growth. Despite lowering its 2023 revenue and net profit forecasts by 0.5% and 10.8%, respectively, due to Q3 earnings adjustments, the brokerage reaffirmed an \"Outperform\" rating with a target price of HK$21.</p>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK0012","symbol_name":"证金概念","start_time":0,"source_url":"","article_id":"1102577929","we_media_id":"1036600163","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1102577929","pubTimestamp":1761621491,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Stock News","introduction":"Global Stock News First-Time Broadcast","home_visible":1,"id":"1036600163","head_image":"https://community-static.tradeup.com/news/b3bf6d02ad1a6e9e7377eebbb162346a"},"summary":"GWMOTOR (02333) reported a 20.5% year-on-year revenue growth in the third quarter, though its gross margin declined by 0.4 percentage points quarter-on-quarter to 18.4%, and net profit fell short of...","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"82333":"长城汽车-R","601633":"长城汽车","BK0012":"证金概念","02333":"长城汽车","BK0196":"行业龙头","BK0187":"一线龙头","BK0015":"沪股通50","BK0014":"新能源汽车","BK0264":"汽车制造","LU1064131003.USD":"FULLERTON LUX FUNDS - CHINA A EQUITIES \"A\" (USD) ACC","LU1064130708.USD":"FULLERTON LUX FUNDS - CHINA A EQUITIES \"I\" (USD) ACC","BK0028":"国家队","BK1539":"汽车股","LU2148510915.USD":"FULLERTON LUX FUNDS - CHINA A EQUITIES \"R\" (USD) ACC","BK1119":"汽车制造商","GWLLY":"长城汽车ADR","BK0172":"雄安新区","BK0188":"融资融券"},"translate_title":"里昂证券：GWMOTOR(02333)Q3纯利不及预期重申“跑赢大市”评级","themeId":"","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"82333":1,"601633":1,"02333":1,"GWLLY":1},"content_text":"GWMOTOR (02333) reported a 20.5% year-on-year revenue growth in the third quarter, though its gross margin declined by 0.4 percentage points quarter-on-quarter to 18.4%, and net profit fell short of market expectations. However, CLSA remains optimistic, citing the company's plans to launch new models in both mass-market and premium segments next year. The firm believes GWMOTOR's premiumization strategy will further materialize, boosting exports to regions like Europe and supporting higher average selling prices.\nCLSA highlights GWMOTOR's technological edge and sustained pricing power as key drivers for next year's growth. Despite lowering its 2023 revenue and net profit forecasts by 0.5% and 10.8%, respectively, due to Q3 earnings adjustments, the brokerage reaffirmed an \"Outperform\" rating with a target price of HK$21.","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"dataReport","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"}}}