Citi: Initiates APT ELECTRONICS (02551) with a "outperform" rating and a target price of HKD 5.87.

CICC CCB International released a research report stating that it is initiating coverage on APT ELECTRONICS (02551) with an "outperform" rating and a target price of 5.87 Hong Kong dollars, based on a forecasted PE ratio of 16 times for 2025/26. The report points out that the group is a leading supplier of smart visual products in mainland China, with strong LED value chain vertical integration and research and development capabilities. The bank believes that the company's smart automotive vision business is a key growth driver, benefiting from the increasing car shipment volume in mainland China and the smart driving trend. At the same time, the bank also sees the company's advanced display business achieving stable growth.