According to the Zhitong Finance App, Times Electric (03898) fell more than 4% at the end of the day. As of press time, it fell by 4.15%, reporting HKD 28.9, with a turnover of HKD 56,255,300.

Bank of America Securities has published a research report, which predicts that the profit growth of the company's power semiconductor business, especially the IGBT module, will slow down in the next two years as the market supply and demand seem to be returning to balance. The bank expects the short-term IGBT module price to be under pressure. The bank currently forecasts that the gross margin of Times Electric's emerging equipment business will decrease from 28% in 2023 to 27% and 26% in the next two years.

Bank of America stated that the H-share stock price of Times Electric has increased by 39% since the beginning of the year. The short-term bullish factors in the railroad equipment sector have basically been reflected in the stock price performance. Therefore, the bank has reduced the target price from HKD 32.8 to HKD 31.7, and downgraded its investment rating from "buy" to "neutral".