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Macquarie Downgrades TINGYI (00322.HK) to Neutral, Axes TP to HKD11.9
2026-06-05 17:01:53
Macquarie downgraded TINGYI (00322.HK) from Outperform to Neutral, and axed its target price by 21% from HKD15 to HKD11.9, mainly reflecting margin headwinds from both competition and cost inflation risks.

Despite margin headwinds, a solid dividend yield of about 7% should provide downside support. TINGYI’s FY2026 forecast dividend yield is 6.7%, based on an assumed 100% payout ratio.
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