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<Research>UOB Kay Hian Trims TP for ZTE (00763.HK) to HKD23.2, Rating Hold
Recommend 10 Positive 7 Negative 11 |
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UOB Kay Hian published a research report covering ZTE (00763.HK), which saw its net profit for 4Q25 grow by 6.8% YoY to RMB33 billion. The gross margin shed by 1.3 ppts YoY but recovered by 3.5 ppts HoH to 29.4%. The annual net profit faded by 43% YoY to RMB296 million, below expectations, mainly due to weak profitability. ZTE's results performance in 4Q25 improved but still fell short of expectations. The broker lowered its net profit forecasts for the group for 2026 and 2027 by 20.7% and 21.5%, respectively, to RMB7.4 billion and RMB7.9 billion. Its target price was reduced from HKD29.4 to HKD23.2, with rating maintained at Hold. AASTOCKS Financial News |
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