UBS Sustains "Buy" Stance on Dongyue Group, Trims Target Price to HK$17.5

Stock News03-27

UBS has issued a research report maintaining a "Buy" rating for DONGYUE GROUP (00189). Based on the company's performance last year and the development outlook for its key products this year, the firm has lowered its earnings per share forecasts for 2026 to 2028 by 3% to 4%, reducing the target price from HK$17.6 to HK$17.5. The report noted that DONGYUE GROUP's net profit increased by 102% year-on-year last year, aligning with preliminary results and the bank's expectations. Gross profit rose by 44% year-on-year, with the gross margin climbing to 31%. Based on the spot prices of its main products, the bank estimates the company's full-year net profit to be approximately 2.4 billion yuan. Looking ahead to 2026, UBS anticipates that the polymer and silicone businesses will see a rebound in profitability from their lows, while the profitability of the refrigerant segment is expected to remain at a relatively high level.

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