Citi: First assigns a "Buy" rating to Lingyi Itech (01688) with a target price of HKD 8.
Benefiting from the value enhancement of iOS products, contributions from Limin Da, expansion of the robotics business, and contributions from edge AI devices, future catalysts include the launch of the iPhone 18 folding model, certification of the Vera Rubin platform, and a potential increase in robotics orders.
Citigroup has released a research report stating that Lingyi Itech (01688) is a leading provider of high-precision functional components and manufacturing platform solutions. Its comprehensive product range and global ODM services help serve a wide array of world-leading clients and benefit from the growth in demand for electronic devices. The stock has been given an initial "Buy" rating with a target price of 8 Hong Kong dollars.
The firm anticipates that the company's revenue and net profit compound annual growth rates for 2025-2028 will reach 23% and 33%, respectively, driven by the enhanced value of iOS products, contributions from Limin Da, expansion of the Siasun Robot & Automation business, and contributions from edge AI devices. Upcoming catalysts include the launch of the iPhone 18 folding model, certification of the Vera Rubin platform, and a potential increase in orders from Siasun Robot & Automation.
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