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<Research>CICC Chops BLOKS (00325.HK) TP to $90, Keeps Outperform Rating
Recommend
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Positive
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Negative
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BLOKS (00325.HK)'s 2025 revenue was RMB2.91 billion, up 30% YoY, while adjusted net profit rose by 15.5% YoY to RMB675 million, in line with expectations, CICC published a research report saying.

CICC maintained its 2026/ 2027 adjusted net profit forecasts for the Company at RMB870 million/ RMB1.07 billion, and kept rating at Outperform.

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Considering the recent decline in sector risk appetite, the broker chopped its target price by 10% to $90, which corresponds to a projected adjusted PE ratio of 23x/ 18x for 2026/ 2027.
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