JPMorgan released a research report stating that the gross margin of new car sales related to Yongda Auto (03669) and Huawei products is expected to reach 4% to 4.5%, raising the company's profit forecast for 2025 to 2026 by 18% to 20% to reflect the improvement in fundamentals. The rating of "shareholding" is upgraded to "neutral", with the target price increased from 1.1 Hong Kong dollars to 1.9 Hong Kong dollars.

The report states that Yongda Auto management explained measures for new energy electric vehicles, especially deepening cooperation with Huawei's HarmonyOS Smart Drive (HIMA) and further expanding the distribution network for new energy electric vehicles related to Huawei next year. The bank welcomes the cooperation between the company and Huawei, believing it can help improve Yongda's new car sales, aftersales business, and gross margin of new car sales.