CICC has initiated coverage on Johnson Electric Holdings (00179), assigning an "Outperform" rating with a target price of HK$43.6. This valuation implies forward P/E multiples of 20x and 18.9x for fiscal years 2026 and 2027, respectively.
The report highlights Johnson Electric as a global leader in micro motors, with a strong presence in the automotive sector. The company is expanding into new growth areas, including humanoid robotics and liquid cooling technology.
CICC notes that Johnson Electric benefits from the growing demand for micro motors driven by automotive electrification trends. Its established market position and diversification into high-potential segments like humanoid robots and liquid cooling are expected to drive future growth.
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