Core Viewpoint - Daiwa has raised the target price for QuanFeng Holdings (02285) from HKD 11 to HKD 25, reflecting the company's significantly better-than-expected performance in the first half of the year [1] Financial Performance - Daiwa has upgraded the rating for QuanFeng from "Hold" to "Outperform" [1] - Core earnings per share forecasts for 2025 to 2027 have been increased by 121.8%, 46.1%, and 34.2% respectively [1] - Revenue forecasts for the same period have been raised by 17.3%, 17.6%, and 17.8% respectively [1] Strategic Developments - During an investor day, QuanFeng outlined a development strategy centered on its high-margin EGO brand [1] - Management anticipates that by the end of this year, production capacity in Vietnam will meet 60% of the product demand for exports to the United States [1] - This strategy is expected to alleviate market concerns regarding long-term tariff impacts and competition [1] Market Context - Daiwa had previously lowered its forecasts for QuanFeng following the announcement of reciprocal tariff measures by the Trump administration in April [1] - The downgrade was primarily due to QuanFeng's high concentration of production in China compared to other companies rated by Daiwa [1]
大和：升泉峰控股目标价至25港元 投资者日反馈正面