Core Viewpoint - Morgan Stanley maintains an "Overweight" rating and a target price of HKD 59 for Delta Electronics Holdings (00179), despite a mixed performance in recent operational data [1] Financial Performance - Delta's revenue for the first three fiscal quarters ending December remained flat year-on-year, but the third fiscal quarter saw a 2% increase to USD 893 million, indicating a gradual recovery [1] - The revenue growth in the third quarter was slightly below Morgan Stanley's expectations, primarily due to the slower-than-expected project initiation by Chinese automotive companies [1] Business Segments - The industrial products segment continues to outperform due to structural market share growth [1] - Limited data disclosure regarding humanoid robots and AI data center cooling businesses adds uncertainty to short-term visibility [1] - The recovery speed of the automotive products business remains uncertain, impacting short-term outlook [1]

Core Viewpoint - Morgan Stanley maintains an "Overweight" rating and target price of HKD 59 for Delta Electronics Holdings (00179) despite a mixed operational update [1] Group 1: Financial Performance - Delta Electronics reported that revenue for the first three fiscal quarters remained flat year-on-year, but third-quarter revenue increased by 2% to USD 893 million, indicating a gradual recovery [1] - The revenue growth in the third quarter was slightly below Morgan Stanley's expectations, primarily due to the slower-than-expected project initiation by Chinese automotive companies [1] Group 2: Business Segments - The industrial products segment continues to perform well due to structural market share growth [1] - Limited data disclosure regarding humanoid robots and AI data center cooling businesses, along with uncertainty in the recovery speed of the automotive products segment, restricts short-term visibility [1]

Core Viewpoint - Morgan Stanley's report indicates that Delta Electronics Holdings has updated its operational data, showing a gradual recovery despite third-quarter revenue growth being slightly below expectations [1] Group 1: Financial Performance - Revenue for the third quarter increased by 2% year-on-year to $893 million, reflecting a gradual recovery [1] - Revenue remained flat year-on-year for the first three fiscal quarters ending December [1] Group 2: Business Segments - The industrial products segment continues to perform well due to structural market share growth [1] - Limited data disclosure regarding humanoid robots and AI data center cooling business creates uncertainty [1] - The recovery speed of the automotive products business remains uncertain, impacting short-term visibility [1] Group 3: Analyst Rating - Morgan Stanley maintains an "Overweight" rating and a target price of HKD 59 [1]

Core Viewpoint - 德昌电机控股's stock dropped over 7%, currently at 28.44 HKD, with a trading volume of 160 million HKD [1] Financial Performance - For the nine months ending December 31, 2025, the company's revenue was 2.726 billion USD, a decrease of approximately 4 million USD compared to the same period last fiscal year [1] - The revenue increase of 40 million USD was attributed to currency fluctuations [1] - The automotive segment generated 2.301 billion USD, down 14 million USD or 1% compared to the same period in the 2024/25 fiscal year [1] - Excluding foreign exchange effects, the automotive segment's revenue declined by 49 million USD or 2% [1] Management Commentary - The Chairman and CEO, Dr. Wang Suizhong, noted that the company's revenue has remained stable this fiscal year, reflecting a weak overall macroeconomic environment and high uncertainty related to geopolitical issues and US trade policies [1] - Based on current trading conditions and customer orders, the company expects its full-year revenue to be roughly similar to last year [1]

Core Viewpoint - 德昌电机控股 reported a slight decline in revenue for the nine months ending December 31, 2025, with total revenue at $2.726 billion, down approximately $4 million compared to the same period last fiscal year [1] Financial Performance - The group's revenue for the automotive product segment was $2.301 billion, a decrease of $14 million or 1% compared to the same period in the 2024/25 fiscal year [1] - Excluding foreign exchange impacts, the automotive product segment's revenue declined by $49 million or 2% [1] - The overall revenue remained stable, reflecting a weak macroeconomic environment and high uncertainty related to geopolitical issues and U.S. trade policies [1] Future Outlook - The chairman and CEO, Dr. Wang Suizhong, indicated that the company expects the full-year revenue to be roughly similar to last year's figures based on current trading conditions and customer orders [1]

FY25/26 Business Update For the December 2025 Quarter Investor Briefing Jan 2026 Disclaimer This presentation contains certain forward-looking statements with respect to the financial condition, results of operations and business of Johnson Electric and certain plans and objectives of the management of Johnson Electric. Words such as outlook, expects, anticipates, intends, plans, believes, estimates, projects, variations of such words and similar expressions are intended to identify such forward- looking st ...

Core Viewpoint - 德昌电机控股 reported a slight decline in revenue for the nine months ending December 31, 2025, with total revenue at $2.726 billion, down approximately $4 million compared to the same period last fiscal year, although currency fluctuations contributed an increase of $40 million [1] Revenue Breakdown - The automotive product segment generated revenue of $2.301 billion, a decrease of $14 million or 1% compared to the same period in the previous fiscal year. Excluding foreign exchange effects, the automotive segment's revenue fell by $49 million or 2% [1] - The industrial products segment reported revenue of $425 million, an increase of $10 million or 2% year-on-year. When excluding foreign exchange impacts, the industrial segment's revenue rose by $5 million or 1% [1] - Overall performance reflects significant regional disparities influenced by market and customer dynamics [1]

Core Viewpoint - The company reported a slight decline in revenue for the nine months ending December 31, 2025, with total revenue at $2.726 billion, down approximately $4 million compared to the same period last fiscal year, although currency fluctuations contributed an increase of $40 million [1] Group 1: Automotive Products - Revenue from the automotive products segment was $2.301 billion, a decrease of $14 million or 1% compared to the same period last fiscal year. Excluding foreign exchange effects, revenue declined by $49 million or 2% [1] - In the Asia-Pacific region, revenue fell by 6%, primarily due to price adjustments to maintain competitiveness and weak demand for non-local automotive brands in China, which has historically been a strong market for this segment. This decline was partially offset by growth in local automotive brand sales [1] - Sales of cooling management, steering and closure systems, and oil pumps decreased, while sales of brake systems, visual systems, and transmission systems partially offset the overall decline [1] Group 2: Industrial Products - Revenue from the industrial products segment was $425 million, an increase of $10 million or 2% compared to the same period last fiscal year. Excluding foreign exchange effects, revenue rose by $5 million or 1% [2] - In the Asia-Pacific region, revenue decreased by 1%, mainly due to intense price competition faced by the industrial products segment and some customers, leading to declines in sales of food and beverage, floor care, and printer application products. This decline was significantly offset by growth in sales of gardening and forestry equipment, medical, and data center cooling application products [2] - In the Europe, Middle East, and Africa region, revenue increased by 6%, driven by replenishment orders from customers after consuming previously excess inventory and the launch of new products, leading to growth in sales of gardening and forestry equipment, heating application products, and flexible printed circuits [2] Group 3: Overall Performance and Outlook - In the Americas, revenue decreased by 2%, primarily due to reduced demand from several customers and some projects reaching the end of their lifecycle, leading to declines in sales of ventilation and surgical application products. However, this was partially offset by growth in sales of piezoelectric motors and ultrasonic motor subsystems, benefiting from strong demand in semiconductor manufacturing and medical drug delivery systems [3] - The Chairman and CEO commented on the company's sales performance and short-term outlook, indicating that revenue has remained stable so far this fiscal year, reflecting a weak overall macroeconomic environment and high uncertainty related to geopolitical issues and U.S. trade policies. The company expects full-year revenue to be roughly similar to last year based on current trading conditions and customer orders [3]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或因倚 賴該等內容而引致的任何損失承擔任何責任。 Johnson Electric Holdings Limited 德昌電機控股有限公司 * (在百慕達註冊成立之有限公司) (股份代號: 179) 25/26 財政年度第三季度 業務及未經審核財務資料 德昌電機控股有限公司（「德昌電機」或「本公司」，連同其附屬公司統稱「本集 團」）發出此公告，內容有關本集團截至 2025 年 12 月 31 日止九個月之業務營運及選 定之未經審核財務資料。 本公司董事會認為刊發最新季度銷售表現與國際企業披露的最佳常規一致。此公告旨 在提升透明度，並確保投資者及潛在投資者在同一時間平等地取得相同的信息。 截至 2025 年 12 月 31 日止九個月，本集團營業額為 2,726 百萬美元，對比上一財政年度 同期之 2,730 百萬美元，下跌約 4 百萬美元。期內，受惠於匯率變動，本集團營業額增 加 40 百萬美元。 汽車產品組別之銷售 截至 2025 年 12 月 31 ...

FF301 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00179 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 1,760,000,000 | HKD | | 0.05 HKD | | 88,000,000 | | 增加 / 減少 (-) | | | | | | HKD | | | | 本月底結存 | | | 1,760,000,000 | HKD | | 0.05 HKD | | 88,000,000 | 本月底法定/註冊股本總額： HKD 88,000,000 備註： * 僅供識別 第 1 頁 共 10 頁 v 1.1.1 截至月份: 2025年12月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: ...