YADEA

UBS expects YADEA's overseas sales to double in 2026 but cut its target price from HKD 18 to HKD 15, weighing on sentiment. The stock staged a recovery after hitting a 52-week low of HKD 8.790 in the morning session, closing at HKD 9.100, up 2.13% from the previous close of HKD 8.910. Supporting factors include Q4 2025 net profit surging 453.33% YoY to HKD 702 million, revenue up 34.78% YoY to HKD 9.91 billion, and a net margin of 7.08%. The stock trades at a PE of 8.78x, PB of 2.44x, with a dividend yield of 5.83%. However, the price remains below the MA20 (10.509) and MA60 (11.602), with a YTD decline of 21.23% and a 39.44% discount to the 52-week high of HKD 15.010.