2024年吉利汽车总收入突破2400亿元，同比增长 34%，归母净利润 166亿元，同比增长 213%。旗下极氪品牌表现优异，去年第四季总收入同比、环比双增长，交付量近乎翻倍，净亏损大幅收窄。而且吉利新能源车业务自去年下半年开始盈利，新能源销量占比近 50%，在中国排名第二。从发展策略来看，吉利坚持“油电并存”，加大燃油车智能化投入，推出“千里浩瀚”智驾方案提升燃油车竞争力。同时，公司加速新能源转型，上调今年销量目标25%至 271 万辆，计划推出10款新能源及改款车型，新能源车销量目标为150万辆，同比增长约69%。2024 年吉利净现金水平上升40%至398亿元，现金储备充裕，无融资压力。总的来说，吉利汽车在业绩增长、业务转型和财务状况等方面都有良好表现，未来发展前景广阔。目标价$23，止蚀价$15.4。Jinwu Financial News | The Hang Seng Index closed at 23689 on Friday (21st), down 530 points or 2.2%. The total market turnover for the day reached 339 billion yuan. The National Index fell 2.3% to 8742; the Tech Index plunged 3.4% to 5639. The blue chip HSBC (00005) dropped 1.3%; AIA (01299) fell 2.8%; Ping An (02318) decreased by 3.1%; Bank of China (03988) dropped 2.1%. Mainland telecom stocks were slightly firm, with China Mobile (00941) rising 0.1%; China Unicom (00762) slightly up 0.4%. The best performing blue chips of the week were ENN ENERGY (02688), WUXI APPTEC (02359), and HANSOH PHARMA (03692), which rose 9.7%, 6.4%, and 6% respectively. The worst three were Anta (02020), LI Auto (02015), and Cheung Kong (01038), which fell 10.8%, 10.5%, and 9.2%.
The Dow Jones was reported at 41985 points on Friday, rebounding 32 points or 0.08%; the S&P 500 gained 0.08% to 5667 points; the Nasdaq climbed 0.52% to 17784 points; the Hang Seng Index, which reflects the performance of Chinese Concepts, dropped 1.73%. Cumulatively this week, the Dow Jones gained 1.2%, the S&P 500 rebounded 0.5%, and the Nasdaq rose 0.2%. Among large-cap stocks, Nvidia's stock price once fell 2.6%, closing down 0.7%; Tesla rose 5.3% against the trend, but saw a cumulative decline of 0.5% for the ninth consecutive week; Nike warned that this quarter's revenue and profitability would decline, and the stock price sharply dropped 5.5%, the largest decline among Dow components. FedEx once again lowered its full-year earnings guidance, with a stock price that briefly plummeted 11.8%, closing down 6.4%. Micron Technology had disappointing gross margin performance last quarter, with its stock price plunging by 8%. Boeing won a U.S. sixth-generation fighter aircraft contract, code-named F-47, with its stock price rising 3.1%, making it the best-performing component of the Dow. Asia-Pacific stock markets are mixed this morning (24th), with the Nikkei 225 Index currently at 37698 points, up 21 points. The South Korean Composite Index is currently at 2638 points, down 4 points. The adjustment of Hong Kong and U.S. stocks is not yet over, and Hong Kong stocks may continue to pull back.
Market Focus: Geely Automobile (00175)
In 2024, Geely's total revenue surpassed 240 billion yuan, a year-on-year increase of 34%, with a net income of 16.6 billion yuan, up 213% year-on-year. The ZEEKR brand performed exceptionally well, with total revenue in the fourth quarter showing both year-on-year and quarter-on-quarter growth, nearly doubling its delivery volume and significantly narrowing its net loss. Moreover, Geely's Electric Vehicles business has been profitable since the second half of last year, with new energy vehicle sales accounting for nearly 50%, ranking second in China. In terms of development strategy, Geely adheres to "oil and electricity coexistence," increasing investments in smart technology for fuel vehicles and launching the "Endless Journey" smart driving solution to enhance the competitiveness of fuel vehicles. At the same time, the company is accelerating the transition to new energy, raising its sales target for this year by 25% to 2.71 million vehicles, planning to launch 10 new energy and modified models, with a new energy vehicle sales target of 1.5 million vehicles, representing an approximate year-on-year increase of 69%. By 2024, Geely's net cash level will rise by 40% to 39.8 billion yuan, with ample cash reserves and no financing pressure. Overall, Geely has demonstrated strong performance in terms of growth, business transformation, and financial conditions, with broad prospects for future development. The target price is $23, and the stop-loss price is $15.4.
(The author is a licensed person under the Securities and Futures Commission and does not hold shares in the above companies.)
Author: Dr. Deng Shengxing, Chairman of the Hong Kong Stock Analyst Association
Today, after hitting the high near 24,000 in the early session and entering bearish positions, the index fell sharply by nearly over 600 points, immediately recouping yesterday's losses significantly.
Moreover, today it broke the new high again, reaching a maximum of 24,076, but by the end of the market, it fell back by about 70 points, producing a bearish candle. The current trend has not yet been broken, but from the previous low until now, it has risen close to 6,000 points. It is believed that those with positions can continue to hold until there is a clear trend reversal for profit-taking. Those without positions can wait for a pullback to get in. Actually, it is hoped for a quick pullback, as it allows for entry and also provides a healthy breath.
Currently, the outlook remains the same as before. It is believed that even if there is a pullback, it shouldn't be too deep. However, if Futures fail to stabilize and close below 22,350, there may still be room for decline. The chance of Futures falling below 21,400 in the short term should be low, so it is considered that if a significant pullback occurs, it presents a good opportunity to incrementally go long. Recently, there has been a consistent approach to not hold positions overnight, only focusing on immediate trades, as there is no high chasing and no casual short selling.
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