Core Viewpoint - DBS reported that Yangtze Optical Fiber and Cable's revenue for the first half of 2025 increased by 19.4% year-on-year, driven by overseas growth and rising demand for transmission products [1] - Core net profit grew by 14.8%, which is below the market's expectation of approximately 30% for the full year [1] - DBS downgraded the rating of Yangtze Optical Fiber and Cable from "Buy" to "Fully Valued," raising the target price from HKD 20.2 to HKD 40.3, citing that the stock price has tripled over the past six months and the market's reaction to the company's development is considered excessive [1]

Core Viewpoint - DBS has downgraded the rating of Yangtze Optical Fibre and Cable (06869) from "Buy" to "Fully Valued," raising the target price from HKD 20.2 to HKD 40.3, citing an overreaction from the market to the company's development [1] Financial Performance - Yangtze Optical Fibre and Cable reported a 19.4% year-on-year revenue growth for the first half of 2025, driven by overseas growth and increased demand for transmission products [1] - The core net profit increased by 14.8%, which is below the market's expectation of approximately 30% for the full year [1]