GTHT Securities has released a research report initiating coverage on HIPINE (02583).
Based on an assessment of the company's recent operational performance, the brokerage forecasts earnings per share (EPS) for the years 2026 to 2028 to be 2.54, 3.49, and 4.46 yuan, respectively.
By referencing comparable companies and applying the industry's average valuation for 2026, which corresponds to a price-to-earnings (P/E) ratio of 19.5 times, the firm has derived a target price of HK$56.96.
This marks the first time the brokerage has covered the stock, assigning it a "Buy" rating.
The report highlights that the company is a leading player in China's market for pure gold and precious metal watches.
It operates under a dual-engine strategy combining its own brand manufacturing (OBM) and original design manufacturing (ODM), positioning it to benefit from the industry's trend towards consolidation.
Comments