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<Research>UBS Expects GAC GROUP (02238.HK) Profitability to Remain Under Pressure w/ Rating Neutral
Recommend 8 Positive 6 Negative 3 |
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GAC GROUP (02238.HK)'s 1Q26 net loss was RMB656 million, narrowing 10% YoY and 85% QoQ, UBS released a research report saying. However, excluding one-off items of RMB728 million, adjusted net loss amounted to approx. RMB1.4 billion, widening 89% YoY. Although GAC GROUP's proprietary brand sales rebounded MoM, the continued decline in average selling price and gross margin, alongside expanding losses, remained disappointing, the report noted. The broker believed that, amid intense domestic competition faced by proprietary brand and sluggish growth of joint venture brands, the Company's profitability is expected to remain under pressure. Therefore, UBS rated GAC GROUP at Neutral, with a target price of $3.6. Auto-translated by AI This article was automatically translated by AI, the original language version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. More Details
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