The Zhitong Finance App learned that Bank of America Securities released a research report stating that the target price for the Ningde Era (03750) was lowered from HK$775 to HK$630, reaffirming the “buy” rating. The bank pointed out that the company's net profit for the third quarter of 2026 increased 15% year on year, but fell 6% month-on-month to RMB 21.2 billion, lower than the bank's and market expectations.

Bank of America Securities lowered Ningde Era's 2026 adjusted net profit forecast by 8.6% to 88.056 billion yuan, and lowered the 2027 forecast by 14.8% to 99.06 billion yuan, mainly reflecting higher battery shipment forecasts for energy storage systems, as well as lower average battery sales prices and gross profit margins.

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