Lingyi iTech Likely to Benefit from Growing Electronic-Devices Demand

Dow Jones08-10

0548 GMT - Lingyi iTech is likely to benefit from growing demand for electronic devices thanks to its comprehensive product offerings and original-design-manufacturing services, Citi analysts say in a note. Lingyi iTech, which supplies companies such as iPhone maker Apple, is a provider of high-precision functional components and manufacturing solutions. Over 2025-2028, the analysts see the company logging a compound annual growth rate of 23% in revenue and 33% in net profit, partly thanks to Apple products and edge artificial-intelligence devices. Citi initiates coverage of Lingyi iTech's Shenzhen-listed stock at neutral with a target price of 13.00 yuan. It sets a buy call on shares listed in Hong Kong, with a target price of 8.00 Hong Kong dollars. The company's A shares fall 1.9% to 12.48 yuan; its H shares decline 1.4% to HK$6.13.

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