Group 1 - UBS report indicates that Yue Yuen Industrial Holdings Limited (00551) management revealed an improvement in third-quarter OEM business profit margins compared to the first half of the year, primarily due to reduced overtime, increased worker familiarity with orders, and stabilization of U.S. tariff policies [1] - UBS expects some orders to be advanced to production in the fourth quarter, despite a projected year-on-year decline in fourth-quarter sales volume, with an anticipated increase in average selling prices [1] - Looking ahead to next year, UBS forecasts that the recovery of individual brands may provide positive impacts, and strong holiday sales performance could enhance brand confidence, benefiting Yue Yuen's sales and attracting new brand clients [1] Group 2 - UBS has raised the target price for Yue Yuen from HKD 18 to HKD 18.4, maintaining a "Buy" rating [1]
瑞银：上调裕元集团目标价至18.4港元 料第四季销售均价可提升