CICC: Maintains Yadea Group Holdings (01585) Outperform rating, target price of HKD 18.

According to the Wisdom Financial APP, CICC released a research report stating that Yadee Holdings (01585) has improved its product structure and reduced costs through various measures, raising its 25E/26E net profit attributable to shareholders by 12%/12% to 30/35 billion yuan. The current stock price corresponds to 12x/10x 25/26E P/E. The rating is maintained as outperforming the industry, with a target price of 18 Hong Kong dollars, corresponding to 17x/14x 25E/26E P/E, with a 40.4% upside potential from the current level. The company announced its 1H25 results: in 1H25, the company achieved operating income of 19.19 billion yuan, a year-on-year increase of 33.1%; and a net profit attributable to shareholders of 1.65 billion yuan, a year-on-year increase of 59.5%.