BPZJSHI@EC2701A

William O'Neil Resumes Coverage of Sanhua Intelligent Controls with Buy Rating

Zheshang Securities Maintains Buy Rating on Sanhua Intelligent Controls, Optimistic About Robot Business Breakthrough

Zhisheng Intelligent Control Focuses on Environmental Thermal Management Solutions

Zhisheng Intelligent Control Q1 2026 Revenue and Net Profit Growth Slowed Significantly

Sanhua Smart Control Announces Q1 2026 Earnings: 15% Net Profit Growth Target Remains Unchanged

CICC Reports: Zhonghua ZhiKong Q1 Earnings Meet Expectations

BofAS Cuts Profit Forecast and Maintains 'Underperform' Rating for Sanhua Smart Control

Sanhua Smart Control Advances Liquid Cooling for Data Centers and Energy Storage

SANHUA released FY2026 Q1 earnings on April 29 After-Market (BJT), actual revenue HKD 8.813 B (forecast HKD 8.925 B), actual EPS HKD 0.2503

Schroders PLC Increases Holdings in Sanhua Smart Control

SANHUA to Release FY2026 Q1 Earnings on April 29 After-Market (BJT), Forecast Revenue HKD 8.963 B

Schroders PLC Increases Holdings in Sanhua Intelligent Control by $113 Million

Schroders PLC Increases Holding in Sanhua Smart Control to 10.62%

Shareholders of Sanhua Smart Control Complete or Prematurely Terminate Sale Plan

JPMorgan Downgrades Sihai Refrigeration's Profit Forecast and Target Price

Citi Report: Sanhua Smart Control Expected 15% Net Profit Growth in 2026

CICC Downgrades Target Price for Sanhua Intelligent to HKD 40

Sanhua Smart Control and Subsidiaries Share a 3.5 Billion Yuan Asset Pool Quota

SANHUA released FY2025 Annual Earnings on March 23 After-Market (BJT), actual revenue HKD 33.89 B (forecast HKD 36.08 B), actual EPS HKD 1.057 (forecast HKD 1.1314)

SANHUA released FY2025 Q4 earnings on March 23 After-Market (BJT), actual revenue HKD 7.765 B (forecast HKD 9.288 B), actual EPS HKD 0.2172 (forecast HKD 0.262)

FAMEGLOW

ZHONGSHENJIANYE

TJCD

ZXZN QI-HOUSE

CENTRAL DEV H

NEW GONOW RV

HINSANG GROUP

JOLIMARK

MEGAIN

REALWAY CAPITAL

02050

06613

03986

02269

00501

06869

01347

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SANHUA(02050) rose 6.84%, with a trading turnover 1.8 Billion HKD, and a year-to-date fell 6.3%. Lens(06613) rose 5.23%, with a trading turnover 779.6 Million HKD, and a year-to-date fell 11.4%. YOFC(06869) fell 12.14%, with a trading turnover 5.0 Billion HKD, and a year-to-date rose 331.3%. HUA HONG SEMI(01347) fell 8.74%, with a trading turnover 7.1 Billion HKD, and a year-to-date rose 56%.

Top Gainers&Losers

SANHUA

Lens

GIGADEVICE

WUXI BIO

OMNIVISION

YOFC

HUA HONG SEMI

BIREN TECH

CHALCO

Top 5 HK Stock Gainers/Losers (>100B) (5.15)

06809

01989

01898

09868

01880

MONTAGE TECH(06809) rose 16.78%, with a trading turnover 1.9 Billion HKD, and a year-to-date rose 200.9%. DELTON(01989) rose 14.5%, with a trading turnover 657.1 Million HKD, and a year-to-date rose 198.8%. CHINA COAL(01898) fell 4.54%, with a trading turnover 531.0 Million HKD, and a year-to-date rose 37.3%. YOFC(06869) fell 4.07%, with a trading turnover 5.4 Billion HKD, and a year-to-date rose 319%.

- The Hang Seng Index rose by 1.22%, with a year-to-date increase of 2.3%.  
- Key stocks like Lanki Technology (06809) saw a significant rise of 16.78%, leading to a total annual increase of 200.9%.  
- In contrast, Zhongmei Energy (01898) decreased by 4.54%, while Zhangfei Optical Fiber (06869) fell by 4.07%, despite their year-to-date gains of 37.3% and 319%, respectively.

MONTAGE TECH

DELTON

CHINA COAL

XPENG-W

CTG DUTY-FREE

Top 5 HK Stock Gainers/Losers (>100B) (5.6)

002050

002837

09863

01810

81810

HXXD

XIACY

Data center-related new products are advancing on track. This year is expected to grow 50%-100% YoY.

Sanhua Intelligent Controls (1Q26 Trans): Still Targeting 15% YoY Net Profit Growth

01211

BYDDF

81211

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002594

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HGMD

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GELYY

TSLA

HYDD

Q1 revenue returned to positive growth. Back in positive territory.

Sanhua Intelligent Controls: Auto parts back in the black; how long until the robot boom?

CICC reported that SANHUAdelivered 1Q results in line with expectations, with a revenue increase of 1.36% YoY to RMB7.774 billion. Despite a 3% YoY decline in domestic air-conditioner sales and a 6.6% YoY drop in passenger vehicle sales, SANHUA benefited from its expansion into data center and energy storage sectors. CICC maintained its earnings forecasts for 2026 and 2027, keeping an Outperform rating on both A-shares and H-shares, with target prices of RMB59.5 and HKD40, respectively.

AASTOCKS News

Sanhua

CICC

CICC: SANHUA  1Q Results In Line; Maintains Outperform Rating

BofAS reported that SANHUAexperienced a 1% YoY revenue growth in 1Q, with a 15% increase in automotive components but a 6% decline in refrigeration. Gross margin improved to 27.8%, though net profit rose only 3% YoY, missing expectations due to foreign exchange losses. The broker lowered revenue and earnings forecasts for 2026-2028 by 2% and maintained an Underperform rating, citing a potential growth slowdown to 10% this year and a high valuation at 27 times forecast PE, with a target price of HKD30.

Bank of America

BANK OF AMERICA CORPORATION DEP SHS REP 1/1000TH INT NON CUM PFD QQ

BANK OF AMERICA CORPORATION DEP SHS REP 1/1200TH PRF SERIES '5'

BANK OF AMERICA CORPORATION 7.25% NON-CUM PERP CONV PFD SER L

BANK OF AMERICA CORPORATION 5.875%NON CUM DEP SHS REP1/1000TH SER HH

BANK OF AMERICA CORPORATION DEP SHS REP 1/1200TH PRF SERIES '2'

BANK OF AMERICA CORPORATION 5% DEP SHS REPR 1/1000TH NON CUM PFD LL

BANK OF AMERICA CORPORATION DEP SHARES REP 1/1000TH PERP PFD SER 'E'

BANK OF AMERICA CORPORATION INCOME CAPITAL OBLIG NTS DUE 15/12/2066

BANK OF AMERICA CORPORATION 4.375% DP SH RP 1/1000TH IN NON CU PF NN

BANK OF AMERICA CORPORATION DEP SH REP 1/1200TH PRF SER 1 USD25

BANK OF AMERICA CORPORATION 5.375%DEP SHS REP 1/1000TH NON CUM SR KK

BANK OF AMERICA CORPORATION 6%NON CUM DEP SHS EACH REP 1/1000 SER GG

BANK OF AMERICA CORPORATION DEP SHS REP 1/1200 PFD SER 4 USD25

BANK OF AMERICA CORPORATION DEP SHS REP 1/1000TH NON CUM PFD SER SS

BANK OF AMERICA CORPORATION 4.125%DEP SH REP 1/1000 PFD SER PP USD25

Bank of America Corp

BofAS: SANHUA  1Q Net Profit Misses; Reiterates Underperform

HSBC Research forecasts a 23% CAGR growth in global energy storage systems (ESS) installed capacity from 2025 to 2030, raising its installation estimates for 2023 and 2024. The capacity is expected to reach 901GWh by 2030, driven by renewable energy and grid infrastructure challenges. The report highlights the underestimated growth potential of behind-the-meter energy storage, projecting its share to rise from 17% in 2024 to 25% in 2030. HSBC initiated coverage on SANHUA and other related stocks with a Buy rating, providing target prices for each.

HSBC HOLDINGS

HSBC

HSBC Holdings Plc

Deye

Sungrow Power Supply

FARATRONIC

Hongfa

HSBC 5xShortSG241213

HSBC Research Expects Significant Growth in Global ESS Installed Capacity Over Next 5 Years, Rates SANHUA  Buy

SANHUAshares rose 4.45% to HKD33.3 after reporting a net profit of RMB928 million for Q1 2026, a 3% YoY increase but 6% below market consensus. Revenue increased 1% YoY to RMB7.777 billion, also below estimates. The company faced foreign exchange losses of RMB150 million. Citi maintains a Neutral rating with a target price of HKD31, citing growth pressures in Q2 2026 due to a high base in refrigeration and weak automotive sales.

Citigroup

CITIGROUP INC 6.250 NON CUM SER II PFD WI

SANHUA  Gains 4.5% in Half-day Post-results; Citi Maintains Neutral Rating

Zhejiang Sanhua Intelligent Controls Co., Ltd. reported a 1.36% year-on-year revenue increase to RMB 7.77 billion and a 2.68% rise in net profit to RMB 927.6 million for Q1 2026. Operating cash flow surged 136.5% to RMB 1.11 billion, indicating strong cash generation despite declining earnings per share and weakened ROE. Total assets remained stable at RMB 49.36 billion, with equity attributable to shareholders up 2.77% to RMB 32.63 billion. Analysts rate the stock as a Buy with a target price of HK$37.40.

Tip Ranks

Sanhua Intelligent Controls Posts Strong Q1 Cash Flow Despite Softer Returns on Equity

QCOM

09866

SPOT

MSFT

601888

0429 | Dolphin Research Focus: 🐬 Macro/Industry 1) The Fed will hold its policy meeting in Washington this week, with the decision due Wed 2:00pm ET (Thu 2:00am Beijing). Markets will focus on the rate decision, policy stance and forward guidance on the easing path.With growth and inflation still resilient, consensus expects rates to be kept on hold this time. 🐬 Single Stocks 1) $NIO-SW(09866.HK) $NIO Inc(NIO.US) Under Nio’s ONVO brand, the smart dual-cockpit, large five-seat flagship SUV ONVO L80 has been introduced. Pre-sales have started.

Fed decision due tonight; NIO's ONVO L80 pre-sale in focus | Daily News Recap

BPZJSHI@EC2701A(29436.HK)

Top 5 HK Stock Gainers/Losers (>100B) (5.15)

Top 5 HK Stock Gainers/Losers (>100B) (5.6)

Sanhua Intelligent Controls (1Q26 Trans): Still Targeting 15% YoY Net Profit Growth

Sanhua Intelligent Controls: Auto parts back in the black; how long until the robot boom?

CICC: SANHUA 1Q Results In Line; Maintains Outperform Rating

BofAS: SANHUA 1Q Net Profit Misses; Reiterates Underperform

HSBC Research Expects Significant Growth in Global ESS Installed Capacity Over Next 5 Years, Rates SANHUA Buy

SANHUA Gains 4.5% in Half-day Post-results; Citi Maintains Neutral Rating

Sanhua Intelligent Controls Posts Strong Q1 Cash Flow Despite Softer Returns on Equity

Fed decision due tonight; NIO's ONVO L80 pre-sale in focus | Daily News Recap