Zhongjin released a research report stating that Great Wall Motors (02333) will maintain its "outperform" rating and raise the target price to HKD 16. The report stated that Great Wall Motors' overseas sales in May were stable, and overseas markets are an important strategic development and profit contribution for the group.

The bank believes that the rapid expansion of dealers and the release of regional models are expected to drive the group's overseas sales growth in the second half of this year. The bank expects the release of new car models such as New Blue Mountain, Haval H9 and Tank 300, which will drive the company's sales to recover. Zhongjin believes that the sustainability of profit growth driven by overseas operations and Tank brand for three consecutive quarters with operating profit of more than RMB 2 billion is being re-recognized, and looks forward to further acceleration of the new energy transformation.