The Zhitong Finance App learned that Citi released a research report stating that it reaffirmed the “buy” rating of Times Electric (03898), with a target price of HK$43.2. The bank said it is expected that Era Electric ROE will gradually return to 11% and 12.2% in 2024 and 2025, close to the level of 2019.

Times Electric's management pointed out that the company has many positive factors, including the net profit of its power semiconductor business of 0.708 billion yuan in the first half of this year, of which 0.1 billion to 0.15 billion yuan was a government subsidy contribution. Therefore, the bank believes that there is no basis for a stock price adjustment of about 20% in its stock price after the second quarter of this year's results.