HK/China Healthcare Analyst (ex-Fosun Pharma)

Xinyao (Criss) Wang

Over 15 years' experience in both finance and healthcare, covering clinic operations, investment and equity research in both China and overseas.

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Equity Capital Markets

Autel Intelligent Technology C / Equity Capital Markets

Autel Intelligent Technology C (688208 CH)

<ul>
<li>Autel's core business focuses on two main areas: vehicle diagnosis solution solutions and smart charging solutions. Gross margin improved simultaneously with revenue growth, demonstrating the scale effect of platform-based business.</li>
<li>If the AI business proportion continues to increase, the valuation multiple is expected to rise. Embodied intelligence commercialization progress also has big potential. However, geopolitical risk may bring valuation discount.</li>
<li>Autel has a weaker ability to withstand risks compared to competitors with diversified strategies. A comfortable valuation range could be P/E of 15-24x, based on 2026 net profit forecast.</li>
</ul>


Autel's core business focuses on two main areas: vehicle diagnosis solution solutions and smart charging solutions. Gross margin improved simultaneously with revenue growth, demonstrating the scale effect of platform-based business.
If the AI business proportion continues to increase, the valuation multiple is expected to rise. Embodied intelligence commercialization progress also has big potential. However, geopolitical risk may bring valuation discount.
Autel has a weaker ability to withstand risks compared to competitors with diversified strategies. A comfortable valuation range could be P/E of 15-24x, based on 2026 net profit forecast.


Pre-IPO Autel Intelligent Technology (A/H Listing) - The Business Layout Has Certain Vulnerabilities