<div id="readability-page-1"><div>CLSA said in a research report that GREAT WALL MOTOR (02333.HK) -0.140 (-1.078%) Short selling $44.13M; Ratio 20.661% recorded 1Q revenue of RMB45.1 billion, up 12.7% YoY, with average selling price per vehicle at RMB167,000. During the period, net profit attributable to shareholders after accounting for exchange rate impact amounted to RMB950 million, down 46% YoY; excluding exchange rate factors, it increased 41.7% YoY.The report noted that 1Q sales volume rose 4.8% YoY to 269,100 units, of which overseas sales accounted for 48.3%, with sales in Brazil and SE Asia doubling in particular. The broker expects the companys flexible multi-powertrain platform architecture to further strengthen its overseas growth momentum, enabling it to swiftly adapt to demand in different markets.The broker maintained its full-year sales forecast at 1.4 million units and expects earnings per vehicle to grow moderately. It maintained the Outperform rating on GREAT WALL MOTOR H shares and GREAT WALL MOTOR (601633.SH) -0.050 (-0.247%) A shares, with target prices of HKD15 and RMB23 respectively. (ss/da)(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-04-24 16:25.) (A Shares quote is delayed for at least 15 mins.)</div>This article was automatically translated by AI, the Chinese 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.</div>

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CLSA maintains an Outperform rating for GREAT WALL MOTOR, citing continued overseas growth momentum. The company reported a 12.7% YoY revenue increase to RMB45.1 billion in Q1, with net profit down 46% YoY to RMB950 million, but up 41.7% when excluding exchange rate impacts. Sales volume rose 4.8% YoY to 269,100 units, with overseas sales making up 48.3%. CLSA forecasts full-year sales of 1.4 million units and expects moderate earnings growth per vehicle, setting target prices at HKD15 for H shares and RMB23 for A shares.

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CLSA Expects GREAT WALL MOTOR  Overseas Growth Momentum to Continue, Maintains Outperform Rating