Dahua Jixian released a research report sayingpokerace, maintain the ideal car-W (02015)"sell for sale" ratingpokerace, significantly cut its annual earnings forecasts from 2024 to 2026 by 39%, 44% and 47% respectively, and the target price dropped from HK$85 to HK$70.

The report stated that the company's first-quarter results fell short of expectations, with operating losses recorded year-on-year, and net profit fell 36% year-on-year to 5.5%pokerace.93 billion yuan, a quarter-on-quarter drop of 90%, mainly due to price cuts. The bank expects its product prices and profit margins to decline further between 2024 and 2026, mainly due to over-pricing of extended-range electric vehicles and intensified price reduction wars in the mainland electric vehicle industry.