HK Stock Market Move | MINTH GROUP (00425) rises nearly 10% in the afternoon, JP Morgan says the company's expansion into new markets will drive a revaluation of its valuation.

Minth Group (00425) rose nearly 10% in the afternoon, up 9.81% at the time of publication, at HK$34.94, with a turnover of HK$285 million. JP Morgan released a research report stating that Minth Group has expanded into several new emerging areas, launching products with high synergies with its existing automotive business, including AI liquid cooling, humanoid Siasun Robot & Automation, and electric vertical take-off and landing aircraft. The upcoming AI liquid cooling and Siasun Robot & Automation production line inspection activities are expected to serve as recent stock price catalysts. The bank raised Minth Group's target price from HK$40 to HK$70, the highest in the market, with a "hold" rating, listing the stock as the preferred choice in the mainland automobile parts industry and putting it on the positive catalyst watchlist. The bank believes the stock is currently undervalued and expects the group's entry into new markets to drive a revaluation.