Zhongjin: Contemporary Amperex Technology (03750) has excellent profit levels, raising this year's profit forecast to 95.98 billion yuan.

CICC released a research report stating that it has raised Contemporary Amperex Technology (300750.SZ, 03750) A-shares and H-shares 2026 profit forecasts by 9.1% and 6.5% to 95.98 billion yuan, and introduced a 2027 profit forecast of 120.22 billion yuan. Corresponding adjustments have been made to the A-share target price by 10.1% to 490 yuan, and the Hong Kong stock target price by 12.1% to 650 Hong Kong dollars. The A-share target price corresponds to a P/E ratio of 23.3 times and 18.6 times for the next two years, with an upside potential of 23.9%. The Hong Kong stock target price corresponds to a P/E ratio of 27.5 times and 21.7 times for the next two years, with an upside potential of 6.6%. The company maintains an outperforming industry rating. Contemporary Amperex Technology's revenue last year was 423.702 billion yuan, an increase of 17% year-on-year, with a net profit of 72.201 billion yuan for the parent company, an increase of 42.3% year-on-year, and a non-GAAP net profit of 64.508 billion yuan, an increase of 43.4% year-on-year. Benefiting from the steady increase in the company's global market share and the continuous improvement in profitability, the company's performance in 2025 exceeded market expectations.