HUAQIN (ASX: 03296) saw its share price rise more than 5% during the trading session. At the time of writing, the stock is up 3.23% to HKD 81.60, with a trading volume of HKD 889.07 million.
Haitong International has initiated coverage on HUAQIN (ASX: 03296) with an 'Outperform' rating and a target price of HKD 104.14. The firm noted that, driven by industry AI trends, the company's AI server products possess clear growth drivers, supporting the sustained rapid expansion of its computing and data center business. Profitability is also showing an improving trend.
The report forecasts HUAQIN's net profit for 2026 to 2028 to reach RMB 5.03 billion, RMB 6.34 billion, and RMB 7.92 billion, respectively. Earnings per share are projected at RMB 4.53, RMB 5.71, and RMB 7.14, representing year-on-year growth of 24%, 26%, and 25%. Haitong International also anticipates the company's net profit margins for 2026 to 2028 to be 2.47%, 2.68%, and 2.92%, respectively, driving net profit growth to outpace revenue growth.