Citibank: Maintaining Chuangtech Industrial's (00669) “Buy” Rating Target Price of HK$168

The Zhitong Finance App learned that Citi released a research report stating that it maintains the “Buy” rating of Innovation and Technology Industries (00669), with a target price of HK$168. Management estimates that US and EU AIDC project orders will be visible for 5 to 7 years. As a result, the bank still places Chuangke Industrial on the preferred list of Chinese industrial stocks.

The report quoted that the management of Chuangke Industrial attended the Citigroup GEM conference in New York from the 9th to 10th of this month. According to Citi's main observations: 1. Benefiting from a lower base and increased POS demand in the second half of this year, revenue growth in the second half of 2026 is expected to accelerate compared to the first half of the year. 2. US tariff rebates will be included in the second half of 2026. This move should further consolidate the net cash position on the balance sheet. The bank is expected to help maintain the continued operation of the company's share repurchase plan after it expires at the end of 2027. 3. The company remains a leader in AI data centers (AIDC) and power utilities in major vertical fields, and has stronger drivers.