On November 8th, it was reported that $GEELY AUTO (00175.HK)$ It rose over 7% again, as of the time of publication, it rose by 7.11%, to 15.36 Hong Kong dollars, with a turnover of 0.649 billion Hong Kong dollars.

On the news front, on November 6th, Geely Auto announced that Geely Holdings Group's total sales in October were 332,258 vehicles, reaching a historical high, a year-on-year increase of 21.1%. Among them, the sales of electric vehicles were 165,625, a year-on-year increase of 54.1%, reaching a historical high, with a year-on-year increase of 21.1%, and an electric vehicle penetration rate of 49.8%.

CICC stated that Geely Auto achieved a record high sales volume in October, and the new car production platform EM-I is about to increase production capacity. Considering the company's strong new car cycle and the industry's valuation increase, the target price has been raised by 37.4% to 18.6 Hong Kong dollars, maintaining its 'outperform' rating. The bank continued to point out that due to the improvement in Geely's new energy vehicles sector profitability, the company's profit forecasts for the next two years have been raised by 3.3% and 15.4% respectively, reaching 16 billion yuan and 11 billion yuan.