瑞银：升中集安瑞科(03899)目标价至9.19港元 维持“买入”评级

Core Viewpoint - UBS reports that CIMC Enric (03899) achieved a net profit growth of 15.6% year-on-year in the first half of the year, driven by the clean energy sector [1] Financial Performance - Revenue for the first half reached 12.6 billion RMB, representing a year-on-year increase of 9.9% [1] - Net profit amounted to 562 million RMB, reflecting a year-on-year growth of 15.6% [1] - The clean energy business continues to be the core growth engine, with revenue growth of 22.2% year-on-year [1] Market Outlook - The report indicates that CIMC Enric's new orders in the second quarter showed a quarter-on-quarter improvement [1] - UBS raised the target price from 9 HKD to 9.19 HKD, corresponding to a projected price-to-earnings ratio of 14 times for this year [1] - Based on the performance forecast for the first half of 2025, UBS has adjusted the profit forecast for 2025-2027 upwards by 2-5% [1]