Group 1: Stock Performance - The stock price has shown a narrow fluctuation, closing at HKD 5.90 on February 11, 2026, with a target average price set at HKD 24.10, indicating a premium of over 300% compared to the current price [2] - Technical indicators such as MACD suggest a short-term consolidation pattern, necessitating observation of market liquidity improvements and the convergence of valuation gaps [2] Group 2: Strategic Development - The company established a subsidiary in Indonesia in 2025 and initiated operations, with a subsequent addition of a subsidiary in Vietnam to its Southeast Asia network [3] - Plans for expansion into Thailand and Malaysia are underway to enhance regional market coverage and brand influence, with internationalization expected to drive business penetration and revenue growth [3] Group 3: Business Progress - The electric loader business is identified as a second growth curve, with a fleet size reaching 316 units by mid-2025 and cumulative subscription revenue exceeding 10 million [4] - Future focus will be on increasing market penetration in the new energy equipment leasing sector and its contribution to overall profitability [4] Group 4: Industry Conditions - The global forklift industry is experiencing a structural recovery, with new order growth reaching 12% in the second quarter of 2025 [5] - The company is transitioning to a light-asset smart operation platform, enhancing equipment utilization through a "subscription + maintenance + management" ecosystem, with a management scale of 59,717 units by mid-2025 [5] - Changes in industry demand and the efficiency of the platform model will be key observation points for sustainable performance [5] Group 5: Company Structure and Governance - Attention is required for the company's periodic financial reports, such as the full-year results for 2025, and announcements from the board regarding strategic adjustments and capital operations [6] - The stability of the shareholding structure may impact governance transparency [6]
佛朗斯股份未来关注点：国际化、电动化与平台转型