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Real-time News
On November 19th, a Citi research report indicated that AAC Technologies (02018.HK) has signed an agreement to acquire shares and other equity securities of DispelixOy, an AR diffraction waveguide technology company. The transaction is expected to be completed in the first half of 2026. AAC has been collaborating with Dispelix on a strategic R&D partnership for several years, jointly developing next-generation AR devices with several leading OEM customers and collaborating with major mobile platform suppliers to develop next-generation reference design platforms. The report believes that this acquisition will expand AACs product portfolio and solution capabilities in the XR field, covering acoustics, haptic feedback, microelectromechanical systems (MEMS), camera lenses and lens modules, structural components, and waveguide technology. The report currently gives AAC a target price of HK$56 and a buy rating.On November 19th, Morgan Stanley issued a research report raising its target price for JD Health (06618.HK) from HK$60 to HK$68.8, based on a discounted cash flow valuation, maintaining its "Market Perform" rating. Morgan Stanley stated that, taking into account JD Healths third-quarter results, the company benefits from growth in direct sales and service revenue, and has raised its total revenue forecasts for 2025 to 2027 by 1.4% respectively. Furthermore, with the expansion of drug sales and the increased proportion of advertising revenue, the companys gross margin is showing an upward trend. The bank has raised its recurring earnings per share forecasts for the period by 9%, 13%, and 13% respectively.On November 19th, a CLSA research report indicated that despite facing competition in both domestic and international markets, Man Wah Holdings (01999.HK) still saw a 0.6% year-on-year increase in net profit for the first half of fiscal year 2026, with the interim dividend remaining flat. This was attributed to the groups proactive repositioning and improved operational efficiency. Although US tariffs increased, the gross profit margin in overseas markets still rose 1.1% year-on-year to 39.3% during the period, as continued efficiency improvements and lower raw material costs helped mitigate the impact of tariffs. Furthermore, Man Wahs management stated that capacity investment has peaked and that maintaining stable dividends will be a priority in the coming years. The report believes that managements commitment to shareholder returns may support market sentiment in the short term, and coupled with the expected stable revenue growth in fiscal year 2027, it may bring medium-term upside potential. Based on improved shareholder return visibility, the target price was raised from HK$5 to HK$5.58, maintaining an "Outperform" rating.On November 19th, a research report from Bank of America Securities indicated that Geely Automobile (00175.HK) saw its third-quarter revenue increase by 27% year-on-year to RMB 89.2 billion, primarily driven by a 43% year-on-year increase in deliveries and higher average selling prices. Benefiting from improved economies of scale, operational efficiency, and product mix optimization, gross margin rose 1.2% year-on-year to 16.6%. Net profit for the period increased by 59% year-on-year to RMB 3.8 billion, with cumulative net profit for the first three quarters reaching RMB 13.1 billion, accounting for 77% of the banks full-year forecast. The bank raised its sales volume forecasts for 2025 to 2027 by 2%, 1%, and 2% respectively, its total revenue forecasts by 1%, 2%, and 2%, and its earnings per share forecasts by 1%, 6%, and 5%. The target price was raised from HKD 24 to HKD 25, and the bank reiterated its "buy" rating.According to Japans Kyodo News, the governor of Niigata Prefecture will approve the restart of Tokyo Electric Power Companys Kashiwazaki-Kariwa nuclear power plant.
