Credit Suisse issued a research report saying it gave Dechang Electric Holdings (00179) a "neutral" rating, raising its profit forecast for the 2023-25 fiscal year by 3% to 5%, raising its target price from HK $9 to HK $9.45, Zhitong Financial APP learned. It recently reported that third-quarter revenue rose 7 per cent year-on-year to $904 million, in line with the bank's expectations. The turnover of the automotive product group rose 12% in the quarter compared with the same period last year, and the turnover of the automotive product group outperformed the output of the light vehicle industry in the first three quarters.

Looking ahead, the bank expects revenue growth in the automotive product group to remain strong in the first half of this year, although there is widespread concern about the risk of recession in Europe and the United States, but due to a shortage of parts and soaring commodity prices, car production has been shrinking since 2020, so the bank expects future sales in Europe and the United States to grow by 5% and 8%.