The Zhitong Finance App learned that Macquarie released a research report saying that Yongda Auto (03669) was given an “outperform the market” rating for the first time, with a target price of HK$10.9. The bank said that Yongda operated a total of 241 car dealerships at the end of June last year, and 73% of the stores were located in the richest East China region. Since it is one of the largest automobile dealership groups of BMW and Porsche in the mainland, combined with the rapidly developing new energy vehicle business, Yongda's revenue profit is expected to reach a compound annual growth rate of 16.4%/30% in 2022-24.
麦格理：首予永达汽车(03669)“跑赢大市”评级 目标价10.9港元
Macquarie: For the first time, Yongda Auto (03669) “Outperform the Market” rating target price is HK$10.9
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