DBS's research report points out that Geely is expected to increase its annual delivery target to 2 million vehicles, and is confident in its overseas business, raising its sales target from 0.3 million to 0.38 million. The bank raised its target price to HKD 11.7 due to Geely's strong delivery volume and robust model pipeline in the first half of this year. It also raised its profit forecast for 2024 and 2025 by 2% and 3%, respectively, and maintains a 'buy' rating. The bank proposes that Geely and the Lynk & Co brand's strong models are extremely important for increasing sales for the second half of this year and 2025. The gross profit margin is expected to improve for several consecutive quarters in the future, and is expected to reach 15.4% in 2024. DBS also believes that Lynk & Co is expected to break even in the second quarter of 2024 according to Hong Kong financial reporting standards, and the newly launched Zeekr X should improve the company's sales prospects for the second half of this year.