CHINA LESSO Shares Surge Over 7% in Morning Session Following CICC's Raised Target Price to HK$5.90

Deep News05-29 10:41

CHINA LESSO (02128) saw its shares rise more than 7% during the morning trading session. As of the latest update, the stock has increased by 7.43%, currently trading at HK$4.77, with a turnover of HK$35.18 million.

Previously, CICC released a research report stating that CHINA LESSO's (02128) 2025 performance fell below the firm's expectations. Revenue declined by 10% year-on-year to RMB 24.3 billion, while net profit dropped by 25% year-on-year to RMB 1.26 billion. The company's earnings were lower than the firm's projections, potentially due to the concentrated recognition of non-operating items such as goodwill impairments, asset impairments, and foreign exchange losses in the second half of last year. Additionally, the decline in raw material PVC prices also contributed to an unexpected drop in the company's selling prices. The company's overseas operations may gradually contribute new growth points. Based on 2027 earnings forecasts, the target price has been raised by 40% to HK$5.90, equivalent to projected 2026 and 2027 price-to-earnings ratios of 11 times and 6 times, respectively. The stock has been given an "outperform the industry" rating.

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