Ge Long Hui A P P·2025-11-05 02:55Core Viewpoint - The report from 招银国际 indicates a cautious outlook on Haier Smart Home despite a robust guidance for fiscal year 2026, with management reaffirming high single-digit sales growth and over 10% net profit growth for the second half and full year of fiscal year 2025 [1] Group 1: Financial Performance - Management has reiterated expectations for high single-digit sales growth and over 10% net profit growth for fiscal year 2025 [1] - The third quarter performance of fiscal year 2025 was strong, leading to confidence in sales and net profit growth for the fourth quarter [1] Group 2: Future Projections - The firm acknowledges the sources of growth for the company but remains cautious due to macroeconomic risks, projecting only 5% sales growth and 9% net profit growth for fiscal year 2026 [1] - The target price for Haier Smart Home has been adjusted from HKD 31.57 to HKD 29.05, while maintaining a "Buy" rating [1]