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Express News | SAIC General Motors' Lu Xiao: The 6C LFP Battery developed in collaboration with Contemporary Amperex Technology will be used in vehicles this year.
Citi has lowered the Target Price for YUE YUEN IND to HKD 16.8 and downgraded the rating to 'Neutral'.
Citi released a research report stating that it has lowered the Target Price for YUE YUEN IND (00551) from HKD 20.3 to HKD 16.8, a decrease of 17.2%, due to an ETR below 15%. The investment rating has been downgraded from 'Buy' to 'Neutral'. The company released its monthly sales data for December on January 10, showing a growth of 13.5%, which was below expectations. Due to lower operating leverage in the fourth quarter of 2024, which reduces operating momentum, the bank has also cut its forecasts for MFG department gross margin (GM) expansion. Therefore, it has revised down its earnings forecast for 2024-2026 by 5-6%.
Citigroup: Maintains Buy rating for Shenzhou International Group Holdings Limited Unsponsored ADR, target price lowered to 103 Hong Kong dollars.
Citigroup released a research report stating that it has lowered the Target Price for Shenzhou International Group Holdings Limited Unsponsored ADR (02313) by 4.6% from HKD 108 to HKD 103, maintaining an investment rating of "Buy." Citigroup expects that due to improved order flow efficiency for sportswear and Lifestyle, Shenzhou International's revenue growth rate in the second half of the 2024 fiscal year will slightly exceed expectations. However, due to potentially slightly lower orders from Lifestyle (mainly from Uniqlo) in the first half of 2024, the bank expects the gross margin (GM) to be slightly lower in the second half than in the first half. Additionally, in China, some workers...
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Express News | South Korea's Hyundai Motor reportedly donated 1 million USD to Trump's inauguration fund.