--- title: "BofAS Raises WUXI LEAD TP to HKD64, Company Guides for Margin Improvement" type: "News" locale: "en" url: "https://longbridge.com/en/news/284717196.md" description: "BofAS has raised the target price for WUXI LEADfrom HKD57 to HKD64, maintaining a Buy rating. The company reported a 1Q revenue of RMB3.7 billion, a 19% YoY increase but 15% below expectations, with a gross margin of 33.6%. Net profit was RMB405 million, up 11% YoY but also below forecasts. WUXI LEAD anticipates margin improvement in the coming quarters as high-margin battery equipment orders are recognized. Earnings forecasts for 2026 and 2027 were lowered by 2% and 1%, respectively." datetime: "2026-04-30T07:33:58.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/284717196.md) - [en](https://longbridge.com/en/news/284717196.md) - [zh-HK](https://longbridge.com/zh-HK/news/284717196.md) generator: "portal-rs" --- # BofAS Raises WUXI LEAD TP to HKD64, Company Guides for Margin Improvement BofAS said in a research report that WUXI LEAD (00470.HK) +2.650 (+4.686%) recorded 1Q revenue of RMB3.7 billion, up 19% YoY but down 8% QoQ, 15% below the brokers expectations, as revenue recognition for battery equipment was slower than expected. Gross margin was 33.6%, down 0.9 ppts YoY and 1.3 ppts QoQ, below the brokers forecast of 35.5%, due to the recognition of certain low-margin solar equipment orders during the period. Net profit reached RMB405 million, up 11% YoY and 7% QoQ, but 14% below the brokers expectations. The company expects gross margin to improve QoQ over the next few quarters as high-margin battery equipment orders are recognized. Taking into account the 1Q results, the broker lowered its earnings forecasts for 2026 and 2027 by 2% and 1%, respectively. However, it raised the TP from HKD57 to HKD64 and reiterated its Buy rating.(ss/u)(HK stocks quote is delayed for at least 15 mins.) This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. ### Related Stocks - [00470.HK](https://longbridge.com/en/quote/00470.HK.md) - [300450.CN](https://longbridge.com/en/quote/300450.CN.md) - [BAC.US](https://longbridge.com/en/quote/BAC.US.md) - [BAC-Q.US](https://longbridge.com/en/quote/BAC-Q.US.md) - [BML-L.US](https://longbridge.com/en/quote/BML-L.US.md) - [BAC-L.US](https://longbridge.com/en/quote/BAC-L.US.md) - [BAC-K.US](https://longbridge.com/en/quote/BAC-K.US.md) - [BML-H.US](https://longbridge.com/en/quote/BML-H.US.md) - [BAC-N.US](https://longbridge.com/en/quote/BAC-N.US.md) - [BAC-E.US](https://longbridge.com/en/quote/BAC-E.US.md) - [MER-K.US](https://longbridge.com/en/quote/MER-K.US.md) - [BAC-O.US](https://longbridge.com/en/quote/BAC-O.US.md) - [BML-G.US](https://longbridge.com/en/quote/BML-G.US.md) - [BAC-M.US](https://longbridge.com/en/quote/BAC-M.US.md) - [BAC-B.US](https://longbridge.com/en/quote/BAC-B.US.md) - [BML-J.US](https://longbridge.com/en/quote/BML-J.US.md) - [BAC-S.US](https://longbridge.com/en/quote/BAC-S.US.md) - [BAC-P.US](https://longbridge.com/en/quote/BAC-P.US.md) - [8648.JP](https://longbridge.com/en/quote/8648.JP.md) ## Related News & Research - [02:40 ETLEAD Intelligent Dry Coating Equipment Wins InterBattery Equipment Award, Marking a Historic Breakthrough](https://longbridge.com/en/news/277897285.md) - [Lead Intelligent Unveils "Extreme Intelligent Manufacturing" Solutions at The Battery Show Europe 2026](https://longbridge.com/en/news/290392802.md) - [Adamera Closes Non-Brokered Private Placement of $815,000](https://longbridge.com/en/news/296536612.md) - [Cantor lets hedge funds place big bets on Kalshi’s prediction markets](https://longbridge.com/en/news/296349359.md) - [VIMAB: Strong Q2 revenue growth and new battery contracts signal improving performance](https://longbridge.com/en/news/296577862.md) --- > **Disclaimer: This article is for reference only and does not constitute any investment advice.**