Shares of Geely Automobile Holdings Limited (HKG:175), one of China's leading automakers, soared by 7.81% on Thursday, as investors reacted to a recent analysis suggesting the company's stock is currently undervalued despite a negative profit growth outlook.
According to a report by Simply Wall St, Geely Auto's intrinsic value is estimated to be around HKD 23.89 per share, significantly higher than its current trading price of HKD 14.34. This valuation discrepancy has sparked investor interest, driving the stock's recent surge.
Additionally, news emerged that Geely Auto's parent company, Zhejiang Geely Holding, is seeking up to a 2 billion euro syndicated loan facility to refinance debt incurred from the purchase of Volvo in 2018. This move could be seen as a positive sign, indicating Geely's efforts to position itself for future growth opportunities, particularly in the electric vehicle sector.
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