Shares of NEXTEER (01316) climbed more than 3%. As of the time of writing, the stock was up 3.17% to HK$7.16, with a turnover of HK$15.84 million. A report from BOCI Research indicated that NEXTEER's operational performance for the second half of last year is expected to be robust, supported by stronger demand in North America and Europe, favorable currency factors, and stable contributions from the Chinese market. Revenue is projected to increase 7% year-on-year to US$2.3 billion, reaching a new semi-annual record, while net profit is anticipated to exceed US$70 million, extending the profit recovery momentum observed since 2024. The bank believes that NEXTEER's optimization and restructuring of its North American facilities have already yielded initial success. A new national standard for automotive steering systems, set to take effect this July, will eliminate the mandatory mechanical linkage requirement, which is expected to help clear a key regulatory hurdle. This development is anticipated to accelerate the adoption of steer-by-wire technology and drive revenue growth for NEXTEER's steer-by-wire business.
Comments