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<Research>JPM: Mkt Expectations for BYD's Earnings Rebound Too Aggressive; CN Carmakers Likely to See Better Earnings in 3Q
Recommend 22 Positive 55 Negative 18 |
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JPMorgan has issued a research report predicting Chinese carmakers to deliver largely in-line results for 3Q25 and record better earnings compared to 2Q25. The brokered considered the market's expectations for BYD COMPANY's (01211.HK) earnings rebound in 2H25 as overly aggressive. Although it is possible that a V-shaped rebound may occur, the extent may fall short of expectations. The 2025-26 earnings forecasts for BYD COMPANY were reduced by 10-12%. In contrast, JPMorgan estimated GEELY AUTO's (00175.HK) earnings to sustain an upside trend. On the back of the launch of higher-priced new models, it also has room for improved profitability. The 2025-26 earnings forecasts for GEELY AUTO were lifted by about 13%. In addition, JPMorgan highlighted the auto shows or overseas launch events that will impact industry and stock performance, such as the unveiling of LEAPMOTOR's (09863.HK) first large 6-seater SUV in Paris on October 16, BYD COMPANY's announcement of new designs at the Tokyo and Guangzhou auto shows, and XPENG-W's (09868.HK) detailed roadmap for humanoid robots. AAStocks Financial News |
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