Daiwa gave Fuzhikang (2038.HK) a buying rating, and the target price dropped to HK$4.25. Fu Zhi Kang (2038.HK) is in line with the 33-month low created last month. Daiwa believes that orders from Chinese customers, especially Xiaomi, fell short of expectations. It is estimated that Fuzhikang's revenue for the second half of 2015 was 4 billion US dollars, down 13% year on year; it was originally expected to be 4.6 billion yuan. In response to this, the profit forecast for the period was reduced from 154 million US dollars to 126 million US dollars; at the same time, the profit forecast for 2015-17 was lowered by 7%-10%. The reason is that the current price is oversold, and at the same time, new orders from India are expected to offset China's slowdown.