Haitong International released a research report sayinglevvvelcoinmasterspins, maintain the ideal car-W (02015)"better than the market" ratinglevvvelcoinmasterspins, its earnings per share estimates for the three-year period from this year to 2026 are 6levvvelcoinmasterspins.04 yuan, 8levvvelcoinmasterspins03 yuan and 11.6 yuan, down 30%, 32% and 23% from the original forecast, and the target price of H shares was lowered from HK$206.6 to HK$149.8.
The report stated that the company's revenue in the first quarter increased by 36.4% year-on-year and fell by 38.6% quarter-on-quarter. Revenue was under pressure in the short term, but the overall gross profit margin remained stable, and increased expenses led to operating losses. However, it is believed that the company's economies of scale will gradually show results. The launch of new all-electric vehicles has been delayed, but recovery in sales of existing models will drive earnings growth. The company has no plans to cut prices in the short term. It is estimated that profitability will still face pressure in the first half of the year, but will improve in the second half.