CMB International published a research report stating that FIT HON TENG's revenue grew by 6% last year, roughly in line with expectations, while net profit increased by 19% year-on-year, which was below market expectations and the bank's forecast, mainly due to higher operating expenses and one-time costs. Looking ahead to this year, the bank believes that management's guidance is solid, with revenue growth expected to record low double digits, gross profit growth expected to be around 17% to 19%, and operating profit margin expected at 5%. After meeting with the company, the bank believes that order outlook and project acquisitions are still on track. Additionally, with the stock price adjusting by 25% over the past month (during which the Hang Seng Index rose by 4%), it is believed that a long-term entry point has emerged. The bank maintains its rating of 'Buy' and lowers the target price from HKD 4.79 to HKD 3.86. The bank has downgraded its earnings per share forecast for this year and next year by 19% and 10%, respectively, to reflect this year's guidance and market conditions. Future catalysts include NVIDIA's GTC event, the release of AirPods, and progress on GB200/GB300.