On September 2, GWMOTOR fell 3.01% in regular trading, trading at HKD 7.735/share, with turnover of HKD 19.92 million.

On the news front, GWMOTOR released its August production and sales report on September 1, showing total vehicle sales of 113,396 units, down 1.87% year-over-year, while production rose 4.53% to 118,316 units. The widening production-sales gap signals mounting inventory pressure. For January through August, cumulative sales reached 805,358 units, up just 1.98%, while cumulative production grew 8.76% to 854,229 units.

Adding to the bearish sentiment, GWMOTOR's previously disclosed interim results showed first-half revenue of RMB 102.1 billion, up 10.6%, but attributable net profit plunged 61.11% to RMB 2.465 billion, dragged by delayed overseas tax subsidy recognition and foreign exchange losses. Q2 net profit alone fell 66.87%. The board also resolved not to distribute an interim dividend. CMB International recently cut its target price from HKD 19 to HKD 14, while BOC International lowered its target to HKD 8.

The broader Automobile Manufacturers sector also traded lower, with BYD COMPANY down 2.49%, GEELY AUTO down 2.62%, LI AUTO-W down 3.31%, XPENG-W down 2.79%, and NIO-SW down 4.70%.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)