The Zhitong Finance App learned that CICC released a research report stating that it will maintain$HISENSE HA (00921.HK)$“Outperform the industry” rating, and profit forecasts for 2024 and 2025 remain unchanged. The target price was raised by 31.3% to HK$35.2 to reflect higher industry valuations and reasonable discounts.

According to the report, the company's performance last year was in line with the forecast. Revenue increased 15.5% year-on-year, and net profit increased by nearly 97.8%. The share of the mainland white goods market increased during the period, and sales in overseas markets also grew rapidly.

The bank expects that the scale and competitiveness of Hisense's white goods business will continue to increase, and it can become a new generation of global first-tier white goods brands. The profitability of the white goods business is expected to continue to increase, driving steady improvement in future profits and operating efficiency.