China's electric scooter maker Yadea rises as Citi lifts TP on strong growth outlook

Shares of Chinese electric two-wheeler manufacturer Yadea Group Holdings 1585.HK jump 6.3% to HK$15.96, set for biggest one-day pct gain since March 18

Stock, with market capitalisation of HK$47.69 bln ($6.13 bln), hits highest since March 20

Citi maintains "buy" and lifts TP to HK$22.5 from HK$16.1, saying it raises Yadea's 2025E volume forecast on YTD strong growth momentum, enhanced product cycle and volume growth, driven by subsidy

Citi also upgrades 2025E net profit on product mix improvements and cost control measures

Hang Seng Commerce & Industry Index .HSNC gains 1%, Hang Seng Index .HSI climbs 0.9%

Yadea's stock up 18.2% YTD

($1 = 7.7754 Hong Kong dollars)