Yadea Likely to Report Weaker 2024 Profit -- Market Talk

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Yadea Likely to Report Weaker 2024 Profit -- Market Talk

Dow Jones2024-12-30

0640 GMT - Yadea is likely to report weaker profit than previously projected after issuing a profit warning for 2024 that guides for a result significantly below Citi and consensus expectations, Citi analysts led by Beatrice Lam say in a research note. The expected profit decline at the Chinese manufacturer of electric bicycles, motorcycles and scooters is mainly due to softer sales volume driven by unfavorable policies and one-off expenses, Citi says, citing Yadea's remarks. The bank cuts its 2024, 2025 and 2026 net profit projections for the company by 44%, 25% and 23%, respectively. Citi lowers its target price to HK$15.20 from HK$17.00 but keeps a buy rating on Yadea. Shares are 2.2% lower at HK$13.10. (tracy.qu@wsj.com)

(END) Dow Jones Newswires

December 30, 2024 01:40 ET (06:40 GMT)

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The bank cuts its 2024, 2025 and 2026 net profit projections for the company by 44%, 25% and 23%, respectively. Citi lowers its target price to HK$15.20 from HK$17.00 but keeps a buy rating on Yadea. Shares are 2.2% lower at HK$13.10. 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