Yamato: Lowering the target price of Chuangke Industrial to 120 Hong Kong dollars, lowering the earnings forecast per share for 2025 to 2027.

Yamato's research report stated that, quoting the management of Chuangke Industries, it is still too early to quantify the direct impact of global trade negotiations on the company's profits as the negotiations are still ongoing. The bank currently expects any adverse effects of tariffs to mainly appear in the second half of the year. However, due to Chuangke Industries' robust balance sheet, strong brand momentum, and diversified global procurement network, it is expected that although facing short-term trade headwinds, there is still potential to accelerate global market share growth. The bank has lowered Chuangke Industries' EPS forecast for 2025 to 2027 by 10% to 13% to reflect the profit pressure from tariffs and lowered the valuation basis to an average P/E ratio of 22 times for the next two years, to reflect short-term tariff risks. The target price has been revised down from 145 Hong Kong dollars to 120 Hong Kong dollars, with a reiterated "buy" rating.