The Zhitong Finance App learned that CITIC Lyon released a research report stating that the target price of Great Wall Motor (02333) H shares was lowered to HK$7, maintaining the “outperforming the market” rating. The bank lowered the company's net profit forecast for 2026 to 2028 by 39%, 46% and 52% respectively. The net profit for the full year of 2026 is expected to be 6.8 billion yuan, down 31% year on year.

Great Wall Motor's net profit for the third quarter of 2026 fell 41% year on year to 1.36 billion yuan. It was mainly affected by new car launch promotions and domestic sales falling about 30% year on year, while the share of export sales rose to 55%. CITIC Lyon anticipates that Great Wall Motor's net profit for the fourth quarter will rebound to 3 billion yuan due to delays in the receipt of Russia's recovery fee refund of about 2 billion yuan, but part of the increase will be offset by year-end bonuses.

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