YADEA (01585) surged over 6% again, rising 6.29% to HK$13.68 at the time of writing, with turnover reaching HK$182 million. On the news front, YADEA released its interim results, achieving revenue of RMB19.186 billion, up 33.11% year-over-year, with profit attributable to owners reaching RMB1.649 billion, an increase of 59.5% year-over-year.

Bank of America Securities issued a research report stating that the company's sales volume grew 38% year-over-year during the period, benefiting from trade-in subsidy policies and channel restocking demand. Gross margin reached 19.6%, up 1.6 percentage points year-over-year. Net profit grew 60% year-over-year, in line with previous performance guidance. The bank believes the company will continue to expand its market share.

BOCOM International noted that new national standards will be officially implemented on September 1 this year, marking the industry's entry into a new cycle. As the industry leader, the company is expected to benefit from its technological capabilities, channel network, and product strength. Additionally, YADEA leads its peers in overseas expansion, with the company expecting its overseas sales volume to achieve a breakthrough by 2027. Considering the implementation of new national standards and the increasing proportion of high-end products, the bank raised its revenue and net profit forecasts for the company for 2025-2027, with target price raised from HK$19.84 to HK$22.63. Given the positive impact of new national standards on domestic sales and favorable overseas sales prospects, the bank remains optimistic about the company's medium to long-term development and maintains a "Buy" rating.