According to a report published by J.P. Morgan Chase, the Ningde era's net profit for the second quarter was 22.5 billion yuan, in the middle of market expectations of 22 to 23 billion yuan; net profit increased 42% year-on-year in the first half of the year, showing steady performance. At the performance meeting, management reiterated that it maintains a high level of confidence in battery demand in 2027, and the expected growth may exceed the long-term compound annual growth rate of 20% to 30%. The bank maintains an “gain” rating for the Ningde era. The target price for H shares is HK$725, based on a price-earnings ratio of 30 times the 2026 forecast, and is still the first choice in China's battery value chain. The unexpected A-share repurchase plan will boost investor confidence.

According to a report published by J.P. Morgan Chase, the Ningde era's net profit for the second quarter was 22.5 billion yuan, in the middle of market expectations of 22 to 23 billion yuan; net profit increased 42% year-on-year in the first half of the year, showing steady performance. At the performance meeting, management reiterated that it maintains a high level of confidence in battery demand in 2027, and the expected growth may exceed the long-term compound annual growth rate of 20% to 30%. The bank maintains an “gain” rating for the Ningde era. The target price for H shares is HK$725, based on a price-earnings ratio of 30 times the 2026 forecast, and is still the first choice in China's battery value chain. The unexpected A-share repurchase plan will boost investor confidence.