Guoyuan International: Raise target price of Haier Smart Home (06690.HK) to 36.6 Hong Kong dollars, improve efficiency of mainland market channels.

According to the Zhangjiang Financial APP, CICC released a research report stating that Haier Smart Home (06690.HK) achieved a year-on-year increase in operating income and non-GAAP net profit attributable to mother of 10.2% and 15.2% to 156.49 billion yuan and 11.7 billion yuan respectively in the first half of this year. The bank slightly raised the company's net profit forecast for 2025 to 2027 by 0.4% to 3.1% to 21.2 billion yuan and 24.3 billion yuan, based on a forecasted P/E ratio of 13 times in 2026, and slightly increased the target price to 36.6 Hong Kong dollars. The company announced its first mid-term dividend, currently with an attractive dividend yield, and maintained a "buy" rating.