Citi: Johnson Electric Holdings (00179.HK) issues profit warning, expects net profit to fall 56% to 62% in the first half of the fiscal year; rating downgraded to "Sell"

Zhito Finance APP has learned that Citi issued a research report stating that Johnson Electric Holdings (00179.HK) unexpectedly issued a profit warning for its fiscal 2027 first-half results for the period ended September, to be announced in early November, and is expected to record a 56% to 62% decline in net profit for the period; given that the margin outlook is worse than expected, the bank lowered its earnings forecasts for fiscal years 2027 to 2029 by 21% to 37%, cut its target price by 25.5% from HK$19.6 to HK$14.6, and downgraded its rating from "Neutral" to "Sell."