Zhi Tong Cai Jing·2025-11-06 02:21Core Viewpoint - Jianyin International has a positive outlook on Times Electric (03898), raising its profit forecast by 6%-13% and upgrading its rating from "Neutral" to "Outperform" with a target price increase from HKD 28.6 to HKD 47.6, a 66% rise [1] Group 1 - The stock price pullback is seen as a buying opportunity [1] - Despite the impact of reduced subsidies and poor delivery times for rail transit equipment, Times Electric's net profit growth for the first nine months of 2025 was below market expectations [1] - The company is still achieving high-quality performance [1] Group 2 - Times Electric has invested heavily in business transformation in emerging equipment sectors, with progress being made due to successful new products [1] - The company is experiencing growth in market share within the new energy vehicle and power transmission sectors [1]