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JPMorgan cuts Sanhua targets to HK$38 and CNY51, keeps Overweight

Verifying
  • JPMorgan lowered Sanhua Intelligent Controls’ share-price targets while maintaining Overweight ratings on its H-shares and A-shares.
  • Sanhua’s H-share target fell from HK$42 to HK$38, while its A-share target dropped from CNY 60 to CNY 51.
  • Sanhua’s robotics and liquid-cooling businesses were identified as structural growth drivers for coming years.
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