Core Viewpoint - Citi updated its valuation model for Zhongxin Innovation after the company announced its half-year results, raising profit forecasts for 2025 to 2027 by 28%, 22%, and 18% to 1.721 billion, 2.64 billion, and 3.583 billion yuan respectively, primarily due to management guidance and higher battery sales assumptions [1] Group 1 - The target price for Zhongxin Innovation was raised from 19.9 HKD to 33.4 HKD, maintaining a "Buy" rating [1] - Strong demand for ESS batteries and commercial EV batteries is expected to support Zhongxin Innovation's battery shipment growth from 2025 to 2027 [1]