On September 5, a research report by DBS Bank pointed out that Great Wall Motor's second quarter profit increased by 224% to 3.9 billion yuan, with a gross margin increase of 3.6 percentage points to 17.5%. The bank expects that Great Wall Motor's overseas expansion, with the opening of a factory in Brazil in the second half of this year, will become a strong growth driver. In addition, the company's Tank brand is the main sales driver, with sales in the first half of the year increasing by 75% year-on-year to 0.151 million vehicles. The bank also expects that the launch of new models in the second half of the year will provide another growth driver, and expects the annual sales volume to increase by more than 50% year-on-year to 0.24 million vehicles, supporting a gross margin of about 20% for the full year. Considering the mid-term performance and strong overseas sales, DBS Bank has raised its profit forecast for this year and next year by 26% and 31% respectively, and raised the target price from HK$15 to HK$16.3, maintaining a "buy" rating.