Core Viewpoint - Citigroup has initiated a 90-day upward catalyst observation for Minth Group, setting a target price of HKD 46 and rating it as "Buy" [1] Group 1: AI Liquid Cooling Products - Large-scale delivery of AI liquid cooling products is expected to have begun in January, with further orders anticipated for Minth in this sector [1] Group 2: European Sales and Subsidy Policies - The reintroduction of subsidy policies in Germany is expected to present an upward risk for Minth's sales in Europe [1] Group 3: Other Catalysts - The impact of rising aluminum prices is considered manageable [1] - The effect of increased tariffs in Mexico is limited, projected to involve approximately USD 1 million by 2026 [1] - Revenue contribution from the robotics business is expected to reach around USD 10 million by 2026 [1] - The company's valuation is deemed attractive, with a dividend yield of 3.8% and a payout ratio of 40% [1]
大行评级｜花旗：对敏实集团开启90天上行催化剂观察，目标价46港元