Core Viewpoint - Cathay Pacific Haitong maintains an "Overweight" rating for Nextracker (01316), citing stable operational performance and expected growth in the electric vehicle sector due to multiple R-EPS entering mass production in the Asia-Pacific region in Q3 2025 [1] Group 1: Financial Projections - EPS forecasts for Nextracker are maintained at $0.06, $0.08, and $0.10 for the years 2025-2027 [1] - The target price is raised to HKD 9.45, based on a 20x PE ratio for 2025, with the exchange rate considered at 1 USD = 7.7 HKD [1] Group 2: Market Developments - R-EPS for models such as Ideal i6, i8, Zeekr 9X, and Chery Jetour G700 are expected to enter mass production in Q3 2025 [1] - The Asia-Pacific region is projected to contribute 49% of order value in the first three quarters of 2025, with an estimated total order value of $5 billion for the year [1] Group 3: Product Innovations - The company has received a key order for steer-by-wire technology from a global leader in electric vehicles, supporting L4 autonomous driving and mobility-as-a-service [1] - An innovative direct-drive steering feel simulator has been launched, enhancing steering feel simulation and accommodating compact, lightweight designs [1]