Citigroup: Downgrade Weidai (00303.HK) Target Price to HKD 69, Disappointing Performance in the Second Half of the Fiscal Year

Wisdom Financial APP learned that Citigroup released a research report stating that the earnings per share forecast for Wei Yida (00303.HK) for the fiscal year 2027-28 has been revised down by 16% to 17%, and the target price has been lowered from HK$76 to HK$69, mainly due to the underperformance in the second half of the fiscal year 2026. The underperformance is mainly due to the impact of US tariffs, lower-than-expected sales in the US market, and a decline in the CMS business. The bank introduced an estimate for the fiscal year 2029, expecting a compound annual earnings per share growth rate of 5.5% over the next three years. The target price has been lowered from HK$76 to HK$69, with a "buy" rating.