3Q21: Results In Line; Earnings To Recover From 4Q21 GAC's 3Q21 net profit came in as expected at Rmb947m, down 65% yoy and 52% qoq, with the chip shortage and resurgence of COVID-19 cases in China dragging sales and hikes in raw material prices pressuring margins. Looking ahead, we keep our view that GAC's earnings […]

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