According to the Futu Securities app, CICC released a research report stating that it maintains a 'outperform' rating on Great Wall Motor (02333), considering recent sector valuation pressure and lowering the target price by 12% to HK$15.8. The company's second quarter revenue was RMB 48.57 billion, an increase of 18.7% year-on-year; net income was RMB 3.85 billion, an increase of 224.4% year-on-year. The performance meets the bank's expectations.

The bank pointed out that this year is still a period of accumulation for the company's new energy products, and it looks forward to the company's hybrid and pure electric products jointly accelerating the new energy transformation next year with a stronger product cycle. In addition, in recent years, the company has taken a leading market share in certain overseas markets and plans to focus on Latin American countries such as Brazil and Mexico as the next key regional markets. The company's off-road vehicles and pick-up trucks are well-aligned with local consumer demand, and are expected to become important areas of growth.