Citigroup lowers HAITIAN INT'L target price to 30 yuan, removing it from the top picks list for Chinese industrials

Citigroup published a research report indicating that HAITIAN INT'L (01882.HK) management revealed a recent slowdown in orders. The current forecast predicts that revenue growth for the second half of the year may drop to high single digits, lower than the 12.5% increase in the first half. Consequently, the company has been removed from the preferred list of Chinese industrial stocks, and earnings forecasts for 2025 to 2027 have been lowered by 2%. The target price has been reduced from HKD 33.5 to HKD 30, but the "Buy" rating is maintained, as the current valuation is considered low, with a dividend yield of approximately 4%