According to Cailian Press on March 16 (Editor: Tong Gu), below are the latest ratings and target prices of various institutions for Hong Kong stocks:

Citi: Gives BYD a Buy rating with a target price of HK$174

Citi issued a research report on BYD (01211.HK), giving a target price of HK$174 and a ‘Buy’ rating. The February vehicle insurance volume was approximately 87,300 units, similar to the domestic wholesale sales volume of about 89,600 units, reflecting stable overall inventory levels among domestic dealers. Entering March, the bank expects both exports and domestic sales of BYD to expand year-over-year, reaching a combined total of approximately 220,000 to 250,000 units. The bank believes that the company is likely to destock in March and April and control production before the start of the next new product cycle in mid-April.

BOCOM International: Maintains Neutral rating for Pou Sheng International with a target price of HK$0.49

BOCOM International issued a research report on Pou Sheng International (03813.HK) stating that the company’s 2025 performance is under pressure, with continued weakness in offline channels, deeper discounts, and operating deleveraging leading to revenue and net profit declines of 7.2% and 57.1%, respectively, while gross margin slightly decreased by 0.7 percentage points. Despite strong growth of over 70% in online business (especially Douyin), it is still insufficient to offset the offline downturn. Considering high recovery uncertainty, the target price has been lowered and the rating adjusted to Neutral.

Shenwan Hongyuan: Maintains an Overweight rating for MTR Corporation

Shenwan Hongyuan issued a research report on MTR Corporation (00066.HK) stating that the property development profit for 2025 reached HK$11.084 billion, up 8.0% year-over-year, becoming the core support for performance. Although recurring businesses were affected by declining rents and impairments, the ‘railway + property’ model demonstrated strong execution capability, with multiple projects scheduled for accounting recognition between 2026 and 2028. High profit growth is expected for 2026, along with a stable dividend policy. The Overweight rating is maintained.

Huachuang Securities: Maintains a Recommend rating for Hutchison China MediTech with a target price of HK$30.48

Huachuang Securities issued a research report on Hutchison China MediTech (00013.HK) stating that overseas sales continued to increase significantly in 2025 (FRUZAQLA overseas sales up 26%), with clear recovery in domestic business in the second half of the year (oncology product revenue up 23% quarter-over-quarter). Late-stage pipeline progress is smooth, and HMPL-A251, the first candidate drug from the ATTC platform, has entered global Phase I/IIa clinical trials, potentially becoming a new growth driver. DCF valuation supports a target price of HK$30.48.

Everbright Securities: Maintains a Buy rating for Foxconn Interconnect Technology

Everbright Securities released a research report on Hon Hai Precision (06088.HK), stating that the company’s cloud data center business revenue will increase by 37.6% year-over-year in 2025, with significant growth in shipments of copper-based components related to AI servers; comprehensive deployment in the optical interconnect field has been demonstrated with a 1.6T high-speed connection solution and 102.4Tbps CPO ELSFP optical module technology, with data center business revenue expected to account for over 30% of total revenue by 2028, opening up growth space for AI computing infrastructure.

Guohai Securities: Maintains Buy rating for Mobvista.

Guohai Securities released a research report on Mobvista (01860.HK), stating that the company’s revenue is projected to grow by 35.7% in 2025, with adjusted net profit increasing by 93.5%, driven by AI-powered intelligent bidding systems as the core growth engine; revenue from gaming clients is expected to rise to 74.6%, while non-gaming verticals continue to expand; investments in AI infrastructure are yielding results, doubling per capita revenue, with modular transformation set to unlock efficiency dividends by 2026, highlighting platform network effects.

TF Securities: Reiterates Buy rating for CARsgen Therapeutics-B

TF Securities released a research report on CARsgen Therapeutics-B (02171.HK), stating that the company’s core product CT053 (Saikaze) is experiencing significant commercial volume growth, securing 218 valid orders in 2025, covering more than 20 provinces and cities nationwide; CT041 (Sur-Reolucel) has submitted an NDA, with potential approval anticipated in the first half of 2026, marking it as the world’s first solid tumor CAR-T to enter the NDA stage; universal and in-vivo CAR-T platforms are advancing steadily, supported by strong technological barriers.

TF Securities: Maintains Buy rating for Kelun Biotech-B.

TF Securities released a research report on Kelun Biotech-B (06990.HK), stating that the core product Lurastuzumab (Sac-Tmt) is expected to be included in national medical insurance in 2025, with new indications for HR+/HER2-BC 2L+, receiving six breakthrough therapy designations; SKB105 (ITGB6-ADC) combined with PD-1/VEGF bispecific antibody SKB118 initiates the next-generation IO+ADC exploration, with global Phase III clinical trials covering 17 oncology studies, showcasing a robust pipeline and strong R&D capabilities.

CITIC Securities: Maintain a buy rating for Laopu Gold.

CITIC Securities released a research report on Laopu Gold (06181.HK), stating that the company’s performance in 2025 continues to exhibit high growth, with revenue/adjusted net profit increasing by 217%-229%/233%-240% year-over-year, reflecting strong brand momentum; three rounds of price increases during the year (up to 25%-30%) maintained gross margins above 40%, with consumer buying frenzies validating premium pricing power; strategic expansion into top-tier commercial areas such as SKP and Hang Lung, alongside channel optimization and new product iterations (e.g., Jiugu Xuanhei Vajra), driving both customer spending and sales efficiency upward.

Shenwan Hongyuan: Maintains Buy rating for Laopu Gold.

Shenwan Hongyuan released a research report on Laopu Gold (06181.HK), stating that the company’s H2 2025 revenue/adjusted net profit grew by 194%-214%/194%-205% year-over-year, with successful price hikes restoring gross margins; after two rounds of price adjustments in August and October, gross margins remained stable at high levels; new stores in top-tier commercial areas such as Beijing SKP and Shanghai Hang Lung contributed significantly to incremental growth, with clear trends toward upgrading store locations to prime first- and second-floor spaces or standalone street-front positions, enhancing penetration into high-end channels and sustaining sales efficiency growth.

Guohai Securities: Maintains Accumulate rating for Shougang Resources.

Guohai Securities released a research report on Shougang Resources (00639.HK), stating that the company focuses on high-quality coking coal, with leading gross profit per ton in the industry (average of 955 yuan/ton from 2020 to 2024). The coal quality is scarce, the washing and selection rate is high, and cost control is excellent. In the first half of 2025, performance will bottom out as coal prices stabilize. By 2026, the recovery of coal prices and the resumption of Xingwu Coal Mine’s production capacity will propel performance into an upward trajectory. If the Lianshan Guojiagou mine project is implemented, coking coal production capacity will increase by 76%. Combined with its high net cash position and generous dividend policy, investment value is highlighted.