JPZJSHI@EC2612A

Schroders PLC Acquires 3.434 Million Shares of Sanhua Intelligent Controls for HKD 123 Million

Baillie Gifford Reduces Stake in Sanhua Intelligent Controls on May 19, Realizing Approx. 27.13 Million HKD

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

JOLIMARK

TIMES UNI GP

APEX ACE HLDG

VPOWER GROUP

GW TIANDI

FUJING HOLDINGS

TEAMWAY INTL GP

SFSY NEW MAT

FDB HOLDINGS

KEEN OCEAN

00100

03750

06613

01347

02513

02050

01810

00358

02600

09868

MINIMAX-W(00100) rose 10.53%, with a trading turnover 2.8 Billion HKD, and a year-to-date rose 415.2%. CATL(03750) rose 6.38%, with a trading turnover 4.4 Billion HKD, and a year-to-date rose 40.7%. SANHUA(02050) fell 4.89%, with a trading turnover 594.3 Million HKD, and a year-to-date fell 9.7%. XIAOMI-W(01810) fell 4.57%, with a trading turnover 8.3 Billion HKD, and a year-to-date fell 27.7%.

- The Hang Seng Index fell by 1.06%, with a year-to-date decline of 1.2%, while the Hang Seng Tech Index decreased by 0.79% and is down 11% for the year.  
- MINIMAX-W (00100) rose by 10.53% with a trading volume of HKD 2.76 billion, marking a significant year-to-date increase of 415.2%.  
- Additionally, CATL (03750) increased by 6.38%, while SMC (02050) and Xiaomi Group (01810) dropped by 4.89% and 4.57%, respectively, with respective year-to-date declines of 9.7% and 27.7%.

Top Gainers&Losers

MINIMAX-W

CATL

Lens

HUA HONG SEMI

KNOWLEDGE ATLAS

SANHUA

XIAOMI-W

JIANGXI COPPER

CHALCO

XPENG-W

Top 5 HK Stock Gainers/Losers (>100B) (5.27)

03986

02269

00501

06869

06082

01208

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%.

GIGADEVICE

WUXI BIO

OMNIVISION

YOFC

BIREN TECH

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

06809

01989

01898

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

CTG DUTY-FREE

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

002050

002837

09863

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

BYDDY

002594

00175

80175

HGMD

GELHY

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

Conference Minutes

Jovel Lim

Ranks in the top 20% of account holders by rate of return
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Envicool

LEAPMOTOR

XIAOMI-WR

Xiaomi HK SDR 2to1

Xiaomi Corporation

Financial Analysis

GE Aerospace

BOYD Gaming

BYD COMPANY

BYD Company Limited

BYD COMPANY-R

BYD Company

GEELY AUTO

GEELY AUTO-R

Geely Auto HK SDR 2to1

GEELY AUTOMOBILE HOLDINGS LIMITED SPON ADS EACH REP 20 ORD

Geely Auto

Tesla

BYD HK SDR 10to1

I do not think the FOMC will cut or hike interest rate, it should remain the same. I think it is a good idea to get exposure into equities. The bull is still in control!

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Ganfeng Lithium

OPEC will lose its relevance and everyone will simply pump oil till their hearts content. I foresee a destruction in oil and price will crash. Don't be fooled by the Iran war keep oil prices elevated!

Today’s Key News Recap

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.

Qualcomm

NIO-SW

NIO Inc. USD OV

NIO Inc

Spotify

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

with the sudden drop in both earnings and share price, S REITs suddenly become attractive. I will consider buying the dip especially those whose share prices are lower than my average buy

I prefer to stay invested in Singapore REITs and banks given Singapore’s strong economic fundamentals and AAA sovereign credit rating. The Singapore dollar is relatively stable which adds to many retail investors confidence.Just Focus on quality blue chip S-REITs and it will generate steady income with greater peace of mind over the long term.Other options, invest in Hongkong market for growth with excitement🤭 ( political and exchange rate risk).

Robot

On the afternoon of Mar 23 (Beijing time), $SANHUA(2050.HK) released its FY25 annual report.Headline results came in slightly below the midpoint of guidance, near the low end, missing sell-side expectations.

Perfect storm? Sanhua Intelligent Controls not that bad

Below is Dolphin Research's Trans of Sanhua Intelligent Controls' FY25 annual report earnings call.---

Sanhua Intelligent Controls (Trans): 2026 internal net profit growth target at 15%---

JPZJSHI@EC2612A(29620.HK)

Top 5 HK Stock Gainers/Losers (>100B) (5.27)

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?