On September 15, SANHUA (02050.HK) fell 3.06% in regular trading, trading at HK$23.42/share, with turnover of approximately HK$89.29 million.

On the news front, multiple investment banks recently lowered their target prices on the company. JPMorgan cut its H-share target price to HK$38 while reiterating an Overweight rating, CICC reduced its target by 12.5% to HK$35 maintaining an Outperform rating, and Citi lowered its target to HK$29. The downgrades followed the company's interim results, which showed first-half revenue of RMB 16.9 billion, up 3.92% year-over-year, but attributable net profit of RMB 2.044 billion, down 3.12%, with second-quarter net profit declining 7.47% on a standalone basis. CICC also trimmed its full-year and next-year earnings forecasts by 8.7% and 4.0% respectively, citing slowing automotive business growth. JPMorgan, however, noted that the market may be overly pessimistic about the company's new business visibility and capacity ramp-up trajectory.

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