China Merchants Securities International: Assigns "Accumulate" Rating to Geely Automobile; Zeekr New Vehicle Demand Remains Robust

SadMoneyMeow · 2026-03-18T05:13:58+00:00

CMB International released a report giving Geely Automobile a target price of HK$32 per share with a "Buy" rating, believing that pessimistic expectations for the automotive sector have been released and Geely and other leading automakers have investment value. Meanwhile, Zeekr's new SUV pre-orders are receiving strong response with robust market demand, and the company expects orders to grow further after launch.

SadMoneyMeow

2026-03-18 05:13:58

Abstract generation in progress

CICC International issued a research report recommending a target price of HKD 32 and an “Overweight” rating for Geely Auto (00175). The firm stated that the current pessimistic outlook for the auto sector has been fully priced in, with valuations still at a relatively low level historically. Driven by new car cycles and intelligentization, the firm remains optimistic about the investment value of leading automakers, recommending Geely, BYD (01211), and XPeng Motors-W (09868), while also paying attention to short-term trading opportunities for NIO-SW (09866).

On March 16, Zeekr launched its new high-performance, five-seat flagship SUV Zeekr 8X and opened pre-sales, with an initial price range of RMB 376,800–516,800. The company revealed that within 38 minutes of pre-sale, over 10,000 units were ordered, and it continues to push toward 20,000 units, indicating strong market demand. According to third-party channel surveys, most potential customers prefer the RMB 396,800 configuration range, which is the median pre-sale price, accounting for nearly 40%. As of the evening of March 16, orders reached 17,000 units, with the high-end Yao Ying version accounting for 29%. Considering that prices or benefits typically adjust after the official launch, it is expected that orders will further release after the official market debut in April. Zeekr’s product lineup continues to expand upward, strengthening its positioning as a premium brand. The volume of high-end models may bring profit expectations, so we continue to recommend Geely Auto.

(Chief Editor: He Chong)

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