智通财经网·2025-11-04 06:53Core Viewpoint - Goldman Sachs has downgraded the target price for Times Electric (688187.SH) to RMB 49.9 from RMB 51, maintaining a "Neutral" rating, while the target price for its H-shares (03898) is lowered to HKD 36.2 from HKD 37, with a "Buy" rating [1] Financial Performance - Times Electric reported weak Q3 2025 results with revenues of RMB 6.62 billion, operating profit of RMB 1.11 billion, and net profit of RMB 1.05 billion, reflecting year-on-year growth of 11%, 15%, and 5% respectively [1] - The company's gross margin, operating margin, and net margin stood at 33%, 17%, and 16% respectively [1] Forecast Adjustments - Goldman Sachs has slightly reduced its revenue forecasts for Times Electric for the years 2025 to 2030 by up to 5% and net income forecasts by up to 6% to reflect the recent performance results [1]