0823 GMT - Zhejiang Leapmotor Technology will likely deliver about 25,000 to 30,000 vehicles in January, adrop of 30%-40% on month, Deutsche Bank analyst Bin Wang writes in a note. He attributes the expected sequential decline to fewer working days in January due to the early Lunar New Year holiday and consumer behavior. Some buyers brought forward purchases to December, while others delayed pulling the trigger as they awaited local government subsidies, he adds. The Chinese carmaker set a sales volume target of 500,000 units for 2025, thanks to its expanding dealer network and product portfolio, he says. The brokerage maintains a buy rating on the stock with a target price of HK$49.00. Shares last closed at HK$34.00. (jiahui.huang@wsj.com; @ivy_jiahuihuang)
(END) Dow Jones Newswires
January 22, 2025 03:23 ET (08:23 GMT)
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