Times Electric (03898) is now up more than 3%. As of press release, it is up 3.45% to HK$28.45, with a turnover of HK$753.15 million.
The Zhitong Finance App learned that Times Electric (03898) is now up more than 3%. As of press release, it has risen 3.45% to HK$28.45, with a turnover of HK$753.15 million.
According to a research report published by Citigroup, Times Electric's profit forecast for 2024 and FY25 was raised by 11% and 10%, and the target price was raised by about 3%, from 32.5 yuan to 33.3 yuan, reaffirming the “buy” rating.
Times Electric's management said that with its nature as a vertically integrated design and manufacturing (IDM) and a full range of products, the company can stand out from the increasingly fierce competition in the NEV power semiconductor business and IGBT industry. In terms of railway equipment, although equipment replacement is affected by government subsidies, management is confident that strong maintenance operations will continue to drive the growth of railway equipment revenue in 2024.