
SANHUA Gains 4.5% in Half-day Post-results; Citi Maintains Neutral Rating

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SANHUAshares rose 4.45% to HKD33.3 after reporting a net profit of RMB928 million for Q1 2026, a 3% YoY increase but 6% below market consensus. Revenue increased 1% YoY to RMB7.777 billion, also below estimates. The company faced foreign exchange losses of RMB150 million. Citi maintains a Neutral rating with a target price of HKD31, citing growth pressures in Q2 2026 due to a high base in refrigeration and weak automotive sales.
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