CITIC International lowered the target price of VSTECS to 14 yuan with a rating of "Buy"

AASTOCKS
2026.03.23 07:45

Zhao Yin International published a research report indicating that VSTECS (00856.HK) had a total revenue increase of 10% year-on-year to HKD 97.6 billion last year, which was generally in line with expectations. Net profit rose 29% year-on-year to HKD 1.35 billion, exceeding expectations, mainly benefiting from effective operational cost control and revenue growth from high-margin self-developed products.

The firm stated that looking ahead, management expects a compound annual growth rate of net profit to reach 20% during the fiscal years 2026 to 2028, primarily benefiting from operational leverage and revenue growth from self-developed products. The firm raised its earnings forecast for 2026 to 2027 by 11% to 14%, and adjusted its target price from HKD 14.2 to HKD 14, maintaining its rating as "Buy."

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