Citi initiates a "buy" rating on Ningde Times H shares with a target price of HKD 425.

Citigroup published a research report stating that it first initiated a "buy" rating for Ningde Times H shares with a target price of 425 Hong Kong dollars. The bank stated that Ningde Times is gradually transforming into a leader in new energy technology while providing solutions for new energy. The group is in a leading position in research and development globally, and has introduced innovative battery technology, which helps the company maintain a price advantage and profit margin in fierce competition. The bank also raised the target price of Ningde Times A shares from the original 362 Chinese yuan to 391 Chinese yuan.