---
title: "In \"Major Banks,\" China International Capital Corporation lowered the target price for NEXTEER to 7.1 yuan, maintaining the \"Outperform Industry\" rating"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/280559998.md"
description: "CICC released a report stating that NEXTEER's revenue in the second half of last year increased by 7.6% year-on-year, but net profit fell by 16.3%, falling short of market expectations. Due to uncertainties in the external environment, it has lowered its 2023 net profit forecast by 32% to USD 153 million and introduced a forecast for 2027 net profit of USD 205 million. Although it maintains an \"outperform industry\" rating, the target price is lowered by 15.5% to HKD 7.1, with a forecasted price-to-earnings ratio of 15 times and 11 times"
datetime: "2026-03-26T03:16:07.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/280559998.md)
  - [en](https://longbridge.com/en/news/280559998.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/280559998.md)
---

# In "Major Banks," China International Capital Corporation lowered the target price for NEXTEER to 7.1 yuan, maintaining the "Outperform Industry" rating

CICC published a research report indicating that NEXTEER (01316.HK) saw a 7.6% year-on-year increase in revenue in the second half of last year, while net profit fell by 16.3%. The performance did not meet market expectations due to asset impairment and tariff factors.

The firm stated that due to uncertainties in the external environment, it has lowered its net profit forecast for NEXTEER this year by 32% to USD 153 million and introduced a net profit forecast of USD 205 million for 2027. The firm continues to rate the company as "outperforming the industry," but after considering the large-scale mass production of steer-by-wire business, the support brought by product intelligence, and the latest profit forecast revisions, it has lowered its target price by 15.5% to HKD 7.1, which corresponds to a projected price-to-earnings ratio of 15 times and 11 times for the next two years, respectively

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