《Big brokerage》Daheng reduces Beijing Speed Technology (02498.HK)’s target price by 44% to HK$32, and cuts earnings forecasts as well; reiterates a “Buy” rating.

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Daiwa issued a research report, saying that Suzhou Tongchuang (02498.HK) -0.200 (-0.853%) saw short selling of $388.9k; the ratio was 11.849%. In the second quarter, optical radar sales reached 388.9k units, up 146% year over year, and up 18% quarter over quarter. Among them, shipments of optical radar for advanced driving assistance systems were 291.8k units, up 136% year over year and up 102% quarter over quarter; shipments of optical radar for robots were 97.1k units, up 182% year over year but down 48% quarter over quarter. It is believed to have been affected by seasonal factors for lawn-mowing robots. Daiwa noted that Suzhou Tongchuang’s market share growth has stalled, and competition in the optical radar industry is intensifying. The firm cut the company’s revenue forecasts for 2026 to 2028 by 12% to 31%, and lowered its 2026 optical radar delivery volume forecast from 1.6 million units to 1.2 million units. It also cut the company’s EPS forecasts for 2026 to 2028 by 21% to 37%. In addition, it reiterated the company’s “Buy” rating, but the target price was sharply lowered by nearly 44% to 32 yuan. (sl/da)(Hong Kong stock quotes are delayed by at least 15 minutes. Short-selling data as of 2026-07-10 12:25.)
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