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<Research> JPM Lowers TP for NEXTEER (01316.HK) to HKD6; SbW and EMB Products Expected to Commercialize This Year
JPMorgan's research report pointed out that after NEXTEER (01316.HK) announced its FY2025 results yesterday (25th), its stock price declined. Although revenue and EBITDA margin wer...
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<Research> JPM Lowers TP for NEXTEER (01316.HK) to HKD6; SbW and EMB Products Expected to Commercialize This Year
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JPMorgan's research report pointed out that after NEXTEER (01316.HK)  +0.060 (+1.154%)    Short selling $15.52M; Ratio 99.539%   announced its FY2025 results yesterday (25th), its stock price declined. Although revenue and EBITDA margin were broadly in line with market expectations, net profit fell short of expectations. The company's dividend payout ratio was increased from 35% in 2024 to 45% last year. Management expressed a constructive outlook for 2026 during the earnings call, expecting revenue growth to exceed the market by 200 to 300 bps and continuous margin expansion.

The firm noted that NEXTEER's Steer-by-Wire (SbW) products have secured orders from two leading Chinese new energy vehicle companies, with production lines in China set to commence in the first half of 2026. Additionally, the company plans to invest in its first Electronic Mechanical Braking (EMB) production line in 2026, expecting to receive the first order in the second half of the year, with a value premium of two to three times that of traditional braking systems. Although management anticipates limited short-term financial contributions from SbW and EMB, they expect a significant profitability inflection point by 2030 as applications accelerate.

JPMorgan lowered NEXTEER's target price from HKD6.5 to HKD6, maintaining a "Neutral" rating. (hc/j)(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-04-02 16:25.)



This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation.

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