Zhao Yin International's research report stated that although Guangzhou Automobile Group's profit performance in the second quarter of this year did not meet expectations, the company has begun reforms to enhance the synergy between different brands and deal with rapidly changing market dynamics. Zhao Yin International stated that the average selling price of Guangzhou Automobile Group in the second quarter of this year fell more than expected by the bank; the gross margin performed as expected; the sales expenses were about 0.25 billion yuan higher than expected. Although the bank previously expected that Guangzhou Honda would have a net loss in the second quarter of this year, the decline was more severe than expected. As for AIAN's net loss, it was slightly lower than expected by the bank.

In addition, Zhao Yin International lowered AIAN's sales forecast for the fiscal year 2024 from 0.5 million units to 0.33 million units; and for the fiscal year 2025 from 0.54 million units to 0.42 million units. At the same time, it lowered Guangzhou Automobile Group's equity income forecast for the fiscal year 2024 by 57%; and for the fiscal year 2025 by 58%. It also lowered its net profit forecast for this year and next year by 60% and 79% respectively, to 2.2 billion yuan and 1 billion yuan each (assuming no fair value income from the IPO of companies like Ruqi Travel next year). Zhao Yin International lowered Guangzhou Automobile Group's target price from HKD 5.5 to HKD 3, while maintaining a "buy" rating.