Daiwa Initiates Coverage on HANS CNC with 'Buy' Rating and HK$207 Target Price

Stock News06-10

Daiwa has initiated coverage on HANS CNC (03200) with a 'Buy' rating and a target price of HK$207.

The firm anticipates the company will achieve robust profit growth, driven by a shift in its product mix towards CCD six-axis independent mechanical drilling machines and strong demand for AI-related printed circuit boards (PCBs). It forecasts net profit to increase by 69% year-over-year in 2026 and by 70% year-over-year in 2027.

Daiwa projects that the proportion of CCD six-axis independent mechanical drilling machines in HANS CNC's production will expand from 13% last year to 60% by 2028. It expects total drilling machine sales volume to grow by 97% between 2025 and 2028, reaching 8,639 units.

This shift is anticipated to drive the company's average selling price for integrated drilling machines up by 70% to 1.62 million yuan by 2028, while also boosting its gross profit margin to 41% by the same year.

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