---
title: "CITIC International lowered the target price of VSTECS to 14 yuan with a rating of \"Buy\""
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/280120478.md"
description: "CMB International has lowered the target price for VSTECS to HKD 14, maintaining a \"Buy\" rating. The report indicates that VSTECS' total revenue increased by 10% to HKD 97.6 billion last year, with net profit rising by 29% to HKD 1.35 billion, primarily benefiting from effective cost control and high-margin self-developed products. The management expects a compound annual growth rate of 20% for net profit from fiscal year 2026 to 2028"
datetime: "2026-03-23T07:45:54.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/280120478.md)
  - [en](https://longbridge.com/en/news/280120478.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/280120478.md)
---

# CITIC International lowered the target price of VSTECS to 14 yuan with a rating of "Buy"

Zhao Yin International published a research report indicating that VSTECS (00856.HK) had a total revenue increase of 10% year-on-year to HKD 97.6 billion last year, which was generally in line with expectations. Net profit rose 29% year-on-year to HKD 1.35 billion, exceeding expectations, mainly benefiting from effective operational cost control and revenue growth from high-margin self-developed products.

The firm stated that looking ahead, management expects a compound annual growth rate of net profit to reach 20% during the fiscal years 2026 to 2028, primarily benefiting from operational leverage and revenue growth from self-developed products. The firm raised its earnings forecast for 2026 to 2027 by 11% to 14%, and adjusted its target price from HKD 14.2 to HKD 14, maintaining its rating as "Buy."

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