CICC: Maintains "Outperform" rating on Bloks (00325.HK), target price HK$80, bullish on overseas and building-block vehicle growth potential.

Zhitong Finance APP has learned that CICC issued a research report stating that it maintains an "Outperform" rating on Bloks (00325.HK), with a target price of HK$80, corresponding to P/E ratios of 21.8x and 17.1x for 2026 and 2027 respectively, implying 46% upside. The bank expects the company's adjusted net profit for 2026 and 2027 to be RMB 790 million and RMB 980 million respectively. The bank believes that Bloks has entered a period of accelerated overseas growth. Based on its product strength and creativity in play, it is optimistic about the growth momentum from overseas expansion and building-block vehicle volume ramp-up in the short term, and in the medium to long term, with the advancement of the "Three Alls Strategy," the company is expected to further unlock growth space.