BOCOM raised the rating of Yihe Holdings (00838-HK) from “synchronizing” to “buying”, while the target price was raised 26% to 1.6 yuan.

The bank pointed out that with the gradual contribution of products in the automobile industry, revenue from 100 million and molds increased dramatically for three consecutive months, all indicating that the company's business situation will improve significantly. The depreciation expenses of Yuanhe were higher than expected, so the earnings per share of Yuanhe were lowered by 21.3% and 29.2% for the current and next two years.