Unhidea explains global investment research, selected interviews and market briefs. Explore source attribution, dates, key assumptions and the reasoning behind each article.
Revenue rose 28.5% year on year in the first three quarters of 2026, while net profit attributable to shareholders grew just 9.7%. Citi believes foreign-exchange and non-operating items masked growth in core earnings, but has cut its earnings forecasts and target price for the next three years.
Citi ·
In the third quarter of 2026, Sieyuan Electric’s revenue rose 31% year on year, while net profit attributable to shareholders grew just 4.5%, below BofA’s expectations. BofA cut its earnings forecasts for the next three years and its price target while maintaining its Buy rating.
Bank of America ·
Third-quarter revenue rose 31% and operating profit grew 30%, but net profit increased only 5%. Goldman Sachs believes operations remain resilient; the key factors are the timing of acceptance and delivery, a rising share of low-margin businesses, and whether North American orders can continue to translate into revenue amid policy uncertainty.
Goldman Sachs ·
Foreign exchange effects and a higher share of low-margin businesses weighed on earnings, while lower expense ratios provided a partial cushion. Overseas orders grew by more than 50%, supporting Morgan Stanley’s decision to maintain its Overweight rating, but the profit quality of converted orders remains subject to product mix, exchange rates and costs.
Morgan Stanley ·
Third-quarter revenue growth exceeded the company’s full-year target, but the decline in gross margin also exceeded its target range. Citi sees the low-margin energy storage business as the main drag, with impairments, lower subsidies and foreign exchange losses further depressing profit, and expects full-year earnings consensus to be revised downward.
Citi ·
