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<Research>Daiwa Raises TP of MINTH GROUP (00425.HK) to HKD52, Reiterates Buy Rating
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Daiwa, having reviewed the earnings forecast for MINTH GROUP (00425.HK), incorporated some positive business updates. Last year, the NEV sales volume in Europe mounted by approximately 30% YoY, reaching 3 million units. Since the beginning of this year, Germany has resumed national subsidies for NEV purchases for mid-to-low-income households, which were expected to provide strong momentum for Europe to achieve mid-teen growth in NEV sales in 2026. Currently, 70% of the group's battery casing orders come from European customers. Daiwa reiterated the group's Buy rating, and raised the target price from HKD40 to HKD52. It also increased the net profit forecast for 2026 and 2027 by 4-5% to reflect incremental changes in its business. AASTOCKS Financial News Website: www.aastocks.com |
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