Goldman Sachs: Slightly lowers Times Electric's target price to HKD 36.2, rating "Buy"
Goldman Sachs released a research report stating that it has lowered the 12-month target price for Times Electric to RMB 49.9 (previously RMB 51), with a rating of "Neutral"; the 12-month target price for H shares has been lowered to HKD 36.2 (previously HKD 37), with a rating of "Buy." Times Electric's performance in the third quarter of 2025 was weak, with revenue, operating profit, and net profit at RMB 6.62 billion, RMB 1.11 billion, and RMB 1.05 billion (representing year-on-year growth of 11%, 15%, and 5%, respectively); gross margin, operating profit margin, and net profit margin were 33%, 17%, and 16%, respectively. Overall, Goldman Sachs has slightly lowered its revenue forecast for Times Electric for 2025 to 2030 by up to 5% and its net income forecast by up to 6% to reflect the performance results
According to the Zhitong Finance APP, Goldman Sachs released a research report stating that it has lowered the 12-month target price for Times Electric (688187.SH) to RMB 49.9 (previously RMB 51), with a rating of "Neutral"; the 12-month target price for its H-shares (03898) has been lowered to HKD 36.2 (previously HKD 37), with a rating of "Buy".
Times Electric's performance in the third quarter of 2025 was weak, with revenue, operating profit, and net profit at RMB 6.62 billion, RMB 1.11 billion, and RMB 1.05 billion (representing year-on-year growth of 11%, 15%, and 5%, respectively); gross margin, operating profit margin, and net profit margin were 33%, 17%, and 16%, respectively. Overall, Goldman Sachs has slightly lowered its revenue forecast for Times Electric from 2025 to 2030 by up to 5% and its net income forecast by up to 6% to reflect the performance results
