Citibank: Jiudai Technology (01478.HK) exceeded expectations in profits. Target price is 8.8 Hong Kong dollars, reiterating a "buy" rating.

Zhimedia Finance APP learned that Citigroup issued a research report stating that Kinetik Technology (01478.HK) recently announced a profit, with the mid-term profit expected to increase by 1.5 to 1.8 times to 288 million to 323 million RMB. The midpoint of 305 million RMB is already 53% of the bank's full-year expectations. The bank predicts that the market will have a positive response to the profit announcement, and it will also have a positive impact on Sunny Optical Technology (02382.HK), indicating that even with a decrease in shipments, improving product mix can still bring potential profit growth. The bank reaffirms its "buy" rating on Kinetik Technology with a target price of 8.8 Hong Kong dollars.