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Great Wall Motor HK MARKET Great Wall Motor: An automaker with TRADING MATTERS SERIES: grand plans to ramp up EV production STOCK HIGHLIGHT DIGITAL ENGAGEMENT TEAM Features a single stock and zooms in on its performance in 23 FEBRUARY 2021 the market KEY METRICS Great Wall Motor (2333 HK) Price Chart Current Price 23.70 35.00 Latest Dividend 0.28 30.00 Dividend Ex-Date 26/2/2021 23 Feb 2021: 25.00 Indicated Dividend Yield 1.42% 23.70 20.00 RSI 42.94 15.00 Analysts 12M Target Price 28.91 10.00 200 Day MA 5.00 REFINITIV STOCKREPORTS+ 100 Day MA AVERAGE SCORE 50 Day MA 0.00 Feb 20 May 20 Aug 20 Nov 20 Feb 21 7/10 As of 23 February 2021 midday closing As of 23 February 2021 midday closing Refer to page 3 for indicator components KEY MARKET EVENTS Hang Seng Index Price Chart 12 Feb Lunar New Year 32,000 holiday 23 Feb 2021: 30,000 18 Feb 30,769.20 China stock 28,000 markets reopen 26,000 22 Feb 24,000 China 1Y & 5Y 200 Day MA Loan Prime Rate 100 Day MA 22,000 Release 50 Day MA 25 Feb 20,000 HK Futures Roll Feb 20 May 20 Aug 20 Nov 20 Feb 21 Date As of 23 February 2021 midday closing 1 of 5 Data extracted from Bloomberg as of 23 February 2021 midday closing, unless otherwise stated Market Commentary • Great Wall Motor (GWM) is China’s largest SUV and pickup manufacturer, producing a variety of vehicles under four brands – Haval, Great Wall, WEY and ORA. The company has four vehicle production facilities and a production capacity of 800,000 units per year. China accounts for more than 90% of sales, but GWM has exported vehicles to more than 60 countries worldwide. • Great Wall Motor to produce 80,000 EVs in Thailand, plans hub (15 Feb 2021, Bloomberg) • Great Wall Motor will produce 80,000 electric vehicles within the first quarter in Thailand, which is in line with the company’s plan to make the nation its production and exporting hub for the ASEAN region. • Interview: BMW confident in long-term development of Chinese market (10 Feb 2021, Xinhua) • BMW established a joint venture with China's Great Wall Motor and broke ground on a new energy vehicles (NEVs) factory in east China's Jiangsu Province in November 2019. • The new plant, due for completion in 2022, will produce BMW's electric MINIs and Great Wall Motors models, with an annual capacity of 160,000 cars. • Interim dividend of CNY 0.28 per share was declared on 25 January 2021, going ex-date on 26 February 2021 TRADING FLOWS RESISTANCE LEVELS SUPPORT LEVELS • Great Wall Motor’s • 30.00 (26 Jan 21) • 23.15 (05 Feb 21) shares previously hit • 31.80 (11 Jan 21) • 22.55 (23 Dec 20) its month intraday high of 29.20 on 16 Feb 2021 • Share price dipped below the 50 Day MA, still above 100 and 200 Day MA 2 of 5 Data extracted from Bloomberg as of 23 February 2021 midday closing, unless otherwise stated Fundamental Viewpoint An Extract from STOCKREPORTS+ Analyst Price Target and Recommendations Source: REFINITIV STOCKREPORTS+, extracted 23 February 2021 midday closing 3 of 5 Data extracted from Bloomberg as of 23 February 2021 midday closing, unless otherwise stated Hong Kong Peer Analysis (STOCKREPORTS+) Source: REFINITIV STOCKREPORTS+, extracted 23 February 2021 midday closing Global Peer Analysis (Bloomberg) Mkt Cap P/E P/B Last Indicated Ticker Name (USD) P/E 5Yr P/B 5Yr Px Yield (%) (Millions) Avg Avg Average 20,048 30.85 33.34 18.00 8.72 2.09 2.16 GREAT WALL MOTOR 2333 HK COMPANY-H 42,906 23.70 43.25 12.59 3.30 0.93 1.42 000800 CH FAW JIEFANG GROUP 8,438 11.72 23.02 19.89 2.20 1.46 N/A NIO US NIO INC - ADR 79,712 50.68 N/A 44.14 N/A XPEV US XPENG INC - ADR 30,016 38.00 N/A 5.36 N/A CHONGQING 200625 CH CHANGAN AUTO-B 12,789 5.74 6.61 0.48 0.39 N/A LI US LI AUTO INC - ADR 24,989 27.84 N/A 0.86 N/A YADEA GROUP 1585 HK HOLDINGS LTD 7,223 18.70 62.95 16.30 13.61 2.81 0.53 BAIC BLUEPARK NEW 600733 CH ENERGY -A 4,419 8.17 N/A 1.97 1.31 N/A LIFAN INDUSTRY 601777 CH GROUP CO LT-A 4,002 5.71 N/A N/A N/A ZHEJIANG CFMOTO 603129 CH POWER CO L-A 3,040 146.15 57.65 33.04 14.91 6.99 0.27 BAIC MOTOR CORP 1958 HK LTD-H 2,997.97 2.90 6.55 8.19 0.41 0.73 6.43 Source: Bloomberg, extracted 23 February 2021 midday closing 4 of 5 Data extracted from Bloomberg as of 23 February 2021 midday closing, unless otherwise stated DISCLAIMER The information provided herein is a compilation or summary of materials and data based from external sources available to OCBC Securities Private Limited (“OSPL”), and does not represent OSPL’s view on the matters mentioned. Whilst we have taken all reasonable care to ensure that the information contained in this publication is not untrue or misleading at the time of publication, we cannot guarantee its accuracy or completeness, and you should not act on it without first independently verifying its contents. Trading in securities can be very risky, and you may lose all or more than the amount invested or deposited. Where necessary, please seek advice from an independent financial adviser regarding the suitability of any trade or investment product taking into account your investment objectives, financial situation or particular needs before making a commitment to trade or purchase the investment product. You should consider carefully and exercise caution in making any trading decision whether or not you have received advice from any financial adviser. No representation or warranty whatsoever (including without limitation any representation or warranty as to accuracy, usefulness, adequacy, timeliness or completeness) in respect of any information (including without limitation any statement, figures, opinion, view or estimate) provided herein is given by OSPL and it should not be relied upon as such. OSPL does not undertake an obligation to update the information or to correct any inaccuracy that may become apparent at a later time. OSPL shall not be responsible for any loss or damage howsoever arising, directly or indirectly, as a result of any person acting on any information provided herein. The information provided herein is intended for general circulation/discussion purposes only and may not be published or circulated in whole or in part without our written consent. All trademarks, registered trademarks, product names and company names or logos mentioned herein are the property of their respective owners, and you agree that you will not do anything to infringe or prejudice those rights. Reference to any products, services, processes or other information, does not constitute or imply endorsement, sponsorship or recommendation thereof by OSPL. 5 of 5 Data extracted from Bloomberg as of 23 February 2021 midday closing, unless otherwise stated.
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