Macquarie released a research report saying that the target price for the Ningde era was raised from HK$680 to HK$700, reaffirming the “outperforming the market” rating. The bank pointed out that although domestic demand for electric vehicles is softening and dragging down sentiment, the Ningde Era can offset the impact by increasing the installed capacity of bicycle batteries and passing on costs. Although the bank lowered its profit forecast for FY2026 by 9%, it rolled the valuation benchmark to 20 times the earnings per share for FY2027 and raised the H share premium from 20% to 25%, taking into account share supply and demand.

Macquarie released a research report saying that the target price for the Ningde era was raised from HK$680 to HK$700, reaffirming the “outperforming the market” rating. The bank pointed out that although domestic demand for electric vehicles is softening and dragging down sentiment, the Ningde Era can offset the impact by increasing the installed capacity of bicycle batteries and passing on costs. Although the bank lowered its profit forecast for FY2026 by 9%, it rolled the valuation benchmark to 20 times the earnings per share for FY2027 and raised the H share premium from 20% to 25%, taking into account share supply and demand.