Citi published a report. Jiantao Laminate has declined by more than 60% since the June high. It believes that now is the time to re-enter the market. Profit growth is expected to accelerate in the second half of this year. The bank expects the year-on-year increase in net profit to 2.8 times faster in the second half of the year. According to the bank, it has noticed that the company has three positive catalysts, including the average sales price inflation of copper clad plates in August after the cost inflation of electronic glass fiber cloth is expected to be between 10% and 15%; after announcing the results on August 24, the market focus will shift to the profit growth forecast for the second half of this year, which is expected to accelerate compared to the first half of the year; and Jianboard launched a T-shaped glass fiber cloth production line in August. Taking into account the company's expectations for the first half of the year, combined with increased market concerns about AI capital expenditure for major data center operators and Nvidia's revolving financing, the 2026-28 earnings estimate was lowered by 9% to 14%; based on a target price-earnings ratio of 22 times, the target price was lowered from HK$130 to HK$92, a decrease of about 29%, and the rating was adjusted from “buy” to “buy/high risk”.

Citi published a report. Jiantao Laminate has declined by more than 60% since the June high. It believes that now is the time to re-enter the market. Profit growth is expected to accelerate in the second half of this year. The bank expects the year-on-year increase in net profit to 2.8 times faster in the second half of the year. According to the bank, it has noticed that the company has three positive catalysts, including the average sales price inflation of copper coated sheets in August after the cost inflation of electronic glass fiber cloth in early August; after announcing the results on August 24, the market focus will shift to the profit growth forecast for the second half of this year, which is expected to accelerate compared to the first half of the year; and Jianboard launched a T-shaped glass fiber cloth production line in August. Taking into account the company's expectations for the first half of the year, combined with increased market concerns about AI capital expenditure for major data center operators and Nvidia's revolving financing, the 2026-28 earnings estimate was lowered by 9% to 14%; based on a target price-earnings ratio of 22 times, the target price was lowered from HK$130 to HK$92, a decrease of about 29%, and the rating was adjusted from “buy” to “buy/high risk”.