External broker reports(aggregated public sources), CMB International

CMB International

Incorporated in Hong Kong, supported by the mainland and targeting in global market, CMB International Capital Corporation Limited (“CMBI”) is an integrated financial institution providing comprehensive and professional services. As a wholly-owned subsidiary of China Merchants Bank ("CMB"), by leveraging on the Group’s synergy and coordination in domestic and overseas markets, as well as CMB’s strong resources and outstanding social reputation, CMBI and its subsidiaries have been actively implementing diversified business strategies and set up an overall layout of main business segments including Corporate Finance, Asset Management, Wealth Management, Global Markets and Structured Finance, etc. Adhering to the philosophy of “being clients oriented and increasing our own values by the way of creating value for clients”, CMBI endeavors to provide quality and integrated financial services to institutional, corporate and individual customers both domestic and overseas including Hong Kong IPO sponsorship and underwriting, share placement and rights issue for listed companies, financial advisors, bonds issuance services, asset management, direct investment, wealth management, equity sales and trading, etc.

External broker reports(aggregated public sources)

Equity Bottom-Up

<ul><li>Maintain BUY. We are of the view that Minth’s 1H25 earnings were well on track and more importantly, its key operating metrics such as new orders, R&amp;D, capex and cash flow are solid.</li><li>We still believe Minth is better positioned than most peers in the global auto parts industry.</li><li>We expect steady revenue growth to continue in the next few years, with possible positive surprise from new businesses.</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Maintain BUY. We are of the view that Minth’s 1H25 earnings were well on track and more importantly, its key operating metrics such as new orders, R&amp;D, capex and cash flow are solid.We still believe Minth is better positioned than most peers in the global auto parts industry.We expect steady revenue growth to continue in the next few years, with possible positive surprise from new businesses.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Minth Group (425 HK) - Well on Track; New Businesses as a Call Option

Minth Group Ltd

Minth Group (425 HK) - Well on Track; New Businesses as a Call Option