UBS has released a research report stating that TIMES ELECTRIC (03898) achieved revenue and net profit growth of 18% and 13% year-on-year respectively in the first half, which was largely in line with expectations. The steady sales growth was primarily driven by healthy expansion in EMU new vehicle sales and maintenance service operations.

UBS maintains its "Buy" rating on TIMES ELECTRIC. Based on the interim results performance, the bank has raised its earnings per share forecasts for 2025-2027 by 1%, 7%, and 9% respectively, while lifting the target price from HK$39.4 to HK$45.2. UBS remains optimistic about the company's solid core business performance and expects new business segments to provide potential growth momentum.