2Q21: Results In Line; Earnings To Recover From 4Q21 GAC's 2Q21 net profit came in as expected at Rmb1,971m, down 10% yoy and 17% qoq, with a chip shortage and spikes in raw material cost squeezing margins. Looking ahead, we keep our view that GAC's earnings will recover from 4Q21 onwards on a recovery in […]

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