KGI Research Singapore

Singapore's leading broker offering Futures, FX, Equities and Wealth Management.

Technical Analysis – 17 March 2025

United States | Singapore | Hong Kong | Earnings

Yum China Holdings, Inc. (YUMC US)

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  • Shares closed at a high since November 2024 with more volume.
  • MACD is positive, RSI is constructive.
  • Long – Entry 51.5, Target 56.5, Stop 49.5
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Gaotu Techedu Inc. (GOTU US)

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  • Shares closed at a high since October 2024 with constructive volume. 20dEMA is about to cross the 200dEMA.
  • MACD is positive, RSI is constructive.
  • Long – Entry 3.60 Target 4.20 Stop 3.30

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Wilmar International Ltd. (WIL SP)

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  • Shares closed higher above the 5dEMA with constructive volume. 50dEMA is about to cross the 200dEMA.
  • MACD is positive, RSI is constructive.
  • Long – Entry 3.28, Target 3.48, Stop 3.18
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Q & M Dental Group Ltd. (QNM SP)

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  • Shares closed higher above the 5dEMA with constructive volume.
  • MACD is positive, RSI is constructive.
  • Long – Entry 0.295 Target 0.325, Stop 0.280

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Shandong Gold Mining Co Ltd (1787 HK)

  • Shares closed at a 4-month high above the 5dEMA with a surge in volume. The 50dEMA is about to cross the 200dEMA.
  • RSI is constructive and MACD is positive.
  • Long – Entry 16.5, Target 17.9, Stop 15.8
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Zijin Mining Group Co Ltd (2899 HK)

  • Shares closed at a 4-month high above the 5dEMA with rising volume.
  • Both RSI and MACD are constructive.
  • Long – Entry 16.9 Target 18.3, Stop 16.2

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Li Auto Inc (LI)

  • 4Q24 Revenue: $6.1B, +3.7% YoY, miss estimates by $60M
  • 4Q24 Non-GAAP EPADS: $0.52, beat estimates by $0.12
  • 1Q25 Guidance: Expect revenue between 23.4 billion yuan (US$3.2 billion) to 24.7 billion yuan compared to the analyst estimate of 38.4 billion yuan and vehicle deliveries between 88,000 and 93,000 units.
  • Comment: Li Auto delivered mixed Q4 results with revenue below estimates and earnings surpassing estimates due to cost management and price cuts. Its gross margin declined to 20.3%. The company forecasted weaker-than-expected Q1 revenue of between US$3.2bn to US$3.4bn and deliveries up to 93,000 units amid rising competition from Huawei-backed Aito, BYD, and Xiaomi. Li Auto is expanding overseas, setting up hubs in Central Asia and the UAE, with plans for North America and Europe. It will also launch two new fully electric sport utility vehicle models namely the i8 and i6 in 2025 to compete in China’s crowded electric SUV market. The intense EV competition in China will prove difficult for Li Auto to stand out amid the aggressive pricing strategy amongst peers and their rapid technological innovation. However, China’s policies to boost domestic consumption, along with overseas expansion, may partially offset the anticipated sales decline. 1Q25 recommended trading range: $27 to $30. Negative Outlook.

理想汽车(LI)

  • 24财年第四季度营收： 61亿美元，同比增长3.7%，低于预期6,000万美元。
  • 24财年第四季度Non-GAAP每股盈利： 0.52美元，高于预期0.12美元。
  • 25财年第一季度指引： 预计营收在234亿元（32亿美元）至247亿元之间，分析师预期为384亿元；预计汽车交付量在88,000至93,000辆之间。
  • 短评：理想汽车第四季度业绩喜忧参半，营收未达预期，但成本控制和降价使盈利超预期。毛利率降至20.3%。由于华为支持的问界、比亚迪和小米等竞争加剧，公司预计第一季度营收将低于预期，为32亿至34亿美元，交付量最高93,000辆。理想汽车正在扩展海外，在中亚和阿联酋设立枢纽，并计划进入北美和欧洲。2025年将推出i8和i6两款新电动SUV，以在中国拥挤的市场竞争。中国电动汽车市场竞争激烈，同行业的激进定价和快速技术创新使理想汽车面临挑战。中国刺激内需的政策和海外扩张或能部分抵消预期销售下滑。25财年第一季度建议交易区间：27美元至30美元。负面展望。