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Nexteer reported a 6.8% year-on-year revenue growth for the first half of the year, reaching US$2.2 billion, with net profit soaring to US$63.5 million. Notably, China and the EMEASA region emerged as the primary growth drivers, pushing the EBITDA margin up to 10.3%. In light of these strong performance indicators, UBS has revised upwards its earnings forecast for Nexteer from 2025 to 2027 and set a new target price of HK$8.7, maintaining a 'Buy' rating. During the first half, the company secured new orders totaling US$1.5 billion, with a significant 39% share coming from Chinese automakers. Nexteer aims to secure a total of US$5 billion in new orders for the full year and is expanding its portfolio of steer-by-wire technology products, with mass production anticipated in 2026.
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