---
title: "Under the banner of \"Big Banks,\" the target price for YONGDA AUTO has been lowered to 1.65 yuan with a rating of \"Buy.\""
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/282274695.md"
description: "Citigroup lowered the target price for YONGDA AUTO to 1.65 yuan, maintaining a \"Buy\" rating. Management expects the overall gross margin for new car sales in 2026 to exceed 1%, with the gross margin for new energy vehicles expected to increase by more than 200 million yuan annually, and the gross margin for fuel vehicles expected to increase by more than 100 million yuan annually. Although gross margins may experience negative growth in the first and second quarters of 2026, improvements are expected in the second half of the year due to increased sales of new energy brands"
datetime: "2026-04-10T01:38:22.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/282274695.md)
  - [en](https://longbridge.com/en/news/282274695.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/282274695.md)
---

# Under the banner of "Big Banks," the target price for YONGDA AUTO has been lowered to 1.65 yuan with a rating of "Buy."

Citi published a research report indicating that YONGDA AUTO (03669.HK) management expects the comprehensive gross margin of new car sales to exceed 1% by 2026, with the gross margin of new energy vehicles expected to increase by more than RMB 200 million annually, and the gross margin of fuel vehicles expected to increase by more than RMB 100 million annually.

The bank expects the company's gross margin to experience negative growth in the first and second quarters of 2026, but with the growth in sales of new energy brands, the gross margin in the second half of the year is expected to improve compared to the previous quarter. The bank has lowered its target price from HKD 3.19 to HKD 1.65, maintaining a "Buy" rating

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