Glonghui, August 2, 丨 Nexteer (1316.HK) bucked the trend and increased to 6.76% at the end of the session, reaching a record high of HK$6.79 in the past five months, with a total market capitalization of HK$17 billion.
Societe Generale Securities previously believed that Nexteer could break out of its performance trough in the second half of the year and return to the growth channel. It was given a “buy” rating, with a target price of HK$8.39. As the global automotive industry ushered in restorative growth, the company's core customer performance picked up.