Broker: UOB Kay Hian
Date of Report: 24 April 2026
Excerpt from UOB Kay Hian report.
Report Summary
- Top actionable BUY calls and target prices:
- CATL (300750 CH): BUY, Target Price: 640.00
- Geely (175 HK): BUY, Target Price: 36.00
- BYD (1211 HK): BUY, Target Price: 130.00
- Minth (425 HK): BUY, Target Price: 56.00
- Most Important Ideas:
- Key auto companies (Minth, Joyson Electronic, Hesai, CaoCao) are expanding into new growth areas such as humanoid robot parts, robotaxi, and AI data centre components to counteract the slowdown in the traditional auto market.
- Transition from hardware suppliers to integrated solution providers (Tier-1), leveraging core technical strengths.
- Minth stands out for rapid product line expansion (intelligent exteriors, EV battery housing, chassis, wireless charging, humanoid robot parts) with a five-year revenue CAGR target of 23%. It guides HK\$56.00 target price and is a top BUY.
- Joyson Electronic is also a BUY (Target: Rmb43.00), highlighting smart cockpit, ADAS and humanoid robot component growth, aiming for higher profitability through integration and new product lines.
- CATL remains a top pick due to strong product pipeline (ultra-fast charging, long-range batteries, sodium-ion batteries) and integrated charging/swapping network, supporting sustained global leadership. Target price: 640.00.
- Sector stance: Maintain MARKET WEIGHT; preference for battery & battery materials, followed by auto parts and OEMs.
above is an excerpt from a report by UOB Kay Hian. Clients of UOB Kay Hian can be the first to access the full report from the UOB Kay Hian website : https://research-api.uobkayhian.com/assets/disclaimer/df64a6ea-7980-447c-ae9e-fd19b93257dc
