Citibank: Maintaining Yadi Holdings' (01585) “Buy” Rating Target Price of HK$22.5

The Zhitong Finance App learned that Citi released a research report stating that it maintains the “buy” rating of Yadi Holdings (01585), with a target price of HK$22.5. Yadi Holdings announced a pre-increase in performance. The net profit for the 2025 fiscal year is expected to be no less than RMB 2.9 billion, an increase of more than 128% over the previous year, in line with market expectations, mainly driven by increased sales of electric vehicles and product structure optimization. The net profit for a single vehicle in the second half of 2025 was about 167 yuan, down from 188 yuan in the first half of the year. Capacity utilization was affected by the weakening scale effect and the switch to the new national standard.

Citi believes that industry integration may accelerate, and Yadi, as a leading company, will be the biggest beneficiary. Currently, the company's price-earnings ratio is 10.9 times, and the dividend yield is 4.6%. With the implementation of new standards and the increase in sales volume of high-end products, the profit growth rate is expected to remain strong, which is one of the attractive investment targets in the industry.