CICC: Shiying Electrical (03898.HK) target price raised to HK$44, mid-term performance in line with expectations.

According to the Zhitong Finance and Economics app, Zhongjin released a research report stating that Times Electric (03898.HK) met market expectations in the first half of the year, with a year-on-year revenue growth of 17.95% and a net profit increase of 12.93% to 1.672 billion yuan. In the second quarter alone, revenue increased by 19.88% year-on-year, with a net profit increase of 12.63% to 1.04 billion yuan. The bank maintained Times Electric's "outperform industry" rating, but due to the upward trend in industry valuation center, the target price was raised by 20.4% to 44 Hong Kong dollars.