NEXTEER Shares Rise Over 3% in Early Trading; UBS Keeps "Buy" Rating

Deep News06-02

Shares of NEXTEER advanced more than 3% during the morning session. At the time of writing, the stock was up 2.81% at HK$5.13, with a turnover of HK$29.41 million.

UBS Research Report Highlights

UBS released a research note stating that NEXTEER's management disclosed during the Asia Investment Conference 2026 that the company has already initiated two steer-by-wire (SbW) projects this year. It is anticipated that more SbW and electromechanical brake (EMB) orders will be secured in 2026, while a rear-wheel steering (RWS) project is scheduled to commence production in the second half of this year.

Management expects stable year-on-year revenue growth for the 2026 fiscal year. However, they noted that rising commodity prices could pressure profit growth, particularly for the company's operations in China. The company is intensifying efforts in cost and capacity optimization to enhance profitability.

In this year's first quarter, NEXTEER secured $1.6 billion in new orders. The company also further expanded its REPS business with North American clients and maintained strong order momentum for its core products in China.

UBS believes that the development of SbW technology and NEXTEER's ability to secure further SbW orders could serve as catalysts for the stock price. UBS has lowered its target price for NEXTEER from HK$8.6 to HK$7.6 but maintains a "Buy" rating on the stock.

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