CICC: Maintains "outperform" rating for TCL Electronics (01070.HK) with a target price of HK$21.22.

According to the Securities Times app, Zhongjin issued a research report stating that the global black appliance industry is facing a major change of "convergence of upstream panel cycles, upgrading of midstream product technology, and restructuring of downstream channel structure", with the trend of "Chinese brands advancing and Korean brands retreating" becoming apparent. The bank believes that the logic of Chinese black appliance brands leading the world will continue, and TCL Electronics (01070.HK) as a leading Chinese black appliance company, with distinct beta and alpha attributes. The bank raised the company's 2026/2027 net profit attributable to shareholders by 7%/23% to 2.95/3.99 billion Hong Kong dollars. Maintaining an outperform industry rating and a target price of 21.22 Hong Kong dollars.