On July 5, Guolonghui reported that Citigroup released a research report that decided to raise its target price from HKD12.99 to HKD13.98 after Geely announced strong earnings in the first quarter and the company's latest business guidance. This was mainly based on Geely's upward revision of its sales target for the 2024 fiscal year, benefiting from the more proactive high-profit export sales and the prospects of internal combustion engine (ICE) auto sales. Starting from the second quarter of this year, cost reduction and efficiency savings will play a role, and the company's comprehensive business market share has continued to grow since the beginning of the year. Citigroup also maintains Geely as a 'buy' rating. In addition, Citigroup revised some of Geely's performance forecasts, including raising its sales forecast for the fiscal years 2024 to 2026 by 5% to 8%; lowering gross margin forecast by 0.5 to 0.6 percentage points; and raising net profit forecast by 4% to 9%.