CICC published a research report stating that TIMES ELECTRIC (03898) delivered first-half results that aligned with market expectations, with revenue growing 17.95% year-over-year and net profit rising 12.93% to RMB 1.672 billion.

For the second quarter alone, revenue increased 19.88% year-over-year, while net profit grew 12.63% to RMB 1.04 billion.

The firm maintains its "outperform" rating for TIMES ELECTRIC. However, due to the upward shift in industry valuation levels, CICC has raised its target price by 20.4% to HK$44.