CICC: Initiates coverage on China Innovation Navigations (03931) with an "outperform" rating and a target price of HK$24.2.

According to the Wisdom Financial APP, Zhongjin released a research report stating that Zhongchuang Innovation Aviation (03931) is a leading domestic lithium battery manufacturer, with comprehensive strength leading the industry. It is expected that the company's EPS in 2025 and 2026 will be 0.87 yuan and 1.18 yuan respectively, with a CAGR of 87.9%. The company's current stock price is trading at 22.8/16.6x 2025/2026e P/E. The bank has set a target price of HK$24.2 for the company, corresponding to 25.8/19.1x 2025/2026e P/E and a 13.1% upside potential, initiating coverage with an "outperform industry" rating.