0922 GMT - Shenzhen Inovance has a positive outlook despite weaker-than-expected 3Q earnings, HSBC analysts say in a note. They expect China's industrial-automation market to return to growth in 2026-2027 after two years of decline, benefiting Inovance, the largest domestic factory-automation player in terms of 2024 sales. The company should gain from likely strong capex trends, rising capacity utilization and overseas expansion in key downstream markets. The analysts also see business opportunities for Inovance in new product categories like software and in new markets such as semiconductors and machine tools. HSBC views Inovance's valuation as attractive and maintains a buy rating on the stock with a CNY96.00 target price. Shares last closed at CNY78.27. (jason.chau@wsj.com)
(END) Dow Jones Newswires
October 27, 2025 05:22 ET (09:22 GMT)
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