Yamato: Raised MINTH GROUP (00425) target price to 52 Hong Kong dollars, reaffirming a "buy" rating.

Daiwa Securities released a research report stating that they have reiterated their "buy" rating on MINITH GROUP (00425) and raised their target price from HK$40 to HK$52 based on a classification and sum valuation method. They have also raised their net profit forecast for this year and next year by 4% to 5% to reflect the incremental changes in their business. The bank reviewed MINITH GROUP's profit forecast and included some positive business updates. Last year, the sales volume of new energy vehicles in Europe increased by about 30% to 3 million units. Since the beginning of this year, Germany has reinstated national subsidies for new energy vehicle purchases for low to middle-income families, which is expected to provide strong momentum for double-digit growth in new energy vehicle sales in Europe this year. Currently, 70% of the group's battery shell orders come from European customers. Daiwa Securities stated that according to data from Global Market Insights, the global data center liquid cooling system market size could reach $6 billion this year, and grow to $12 billion by 2030. It is expected that from 2026 to 2030, MINITH GROUP may gain a market share of 3% to 5% in the value chain.