The Zhitong Finance App learned that Bank of America Securities released a research report saying that Shenzhou International (02313)'s mid-term revenue fell 5.3% year on year and net profit fell 40% year on year, in line with earlier profit forecasts. The gross margin for the period fell 4.5 percentage points year on year. The decline was greater than expected, mainly affected by exchange rates, labor costs, raw material costs and tariffs. Exchange losses during the period amounted to RMB 506 million, compared with an exchange gain of RMB 126 million recorded in the same period last year. Based on the interim results, Bank of America Securities lowered Shenzhou International's 2026 and 2027 earnings forecasts per share by 5% and 3%, and the target price was lowered from HK$50 to HK$49.6, maintaining a “buy” rating.

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