CITIC Securities International: Initiating coverage of Bank of Communications Science and Technology (02543.HK) with a "buy" rating and a target price of HK$56.

According to the Zhongtong Financial APP, CMB International Securities has released a research report stating that it has set a target price of 56 Hong Kong dollars for Daheng Technology (02543.HK) and rated it as "hold". The bank expects the compound annual growth rate of sales from 2024 to 2027 to reach 50%, with gross profit margins increasing by approximately 100 basis points each year. The main driving factors include: new products such as foldable and electrically assisted bicycles driving up average selling prices, a 200-300 basis point increase in profit margins from in-house production, and an expected increase in online sales channels to around 35% by 2026, with a gross profit margin of about 50%, significantly higher than offline margins of 27-28%.