According to "The Big Bank," Bank of America Securities reiterated its "Underperform" rating on YIHAI INTL, lowering the target price to 13.3 yuan

Bank of America Securities published a research report indicating that YIHAI INTL (01579.HK) performed below expectations in the first half of the year, with weak revenue growth and flat net profit. Considering the lack of improvement in business growth prospects, it has lowered the earnings per share forecast for this year and next year by 9% and 15%, respectively, reiterating a "underperform" rating, and reducing the target price from HKD 13.6 to HKD 13.3. Bank of America Securities stated that YIHAI INTL's overseas business profitability still needs improvement. Although there are signs that developing new B2B clients and customized products could bring new growth momentum, it is expected that the short-term contribution will not be significant, and structural negative factors in the industry will continue to exist