Goldman Sachs: First Pay Sanhua Intelligent Control (02050) “Buy” Rating Target Price HK$33.2

The Zhitong Finance App learned that Goldman Sachs released a research report stating that the launch covered Sanhua Intelligent Control (02050) and gave it a “buy” rating for the first time. The target price was HK$33.2. According to the bank, Sanhua is the world's leading supplier of HVAC control and thermal management components, and is optimistic about its growth potential in the field of humanoid robot actuators. This is based on its stable global market leadership position in HVAC components and thermal management components for electric vehicles.

The bank expects Sanhua's revenue and net profit to grow at a compound annual rate of 19% from 2025 to 2030. The bank believes that humanoid robots are an important long-term technology trend. As a high-visibility actuator assembler, Sanhua is expected to take a key role in the supply chain. It is predicted that by 2030, the business segment will contribute 25% and 18% of total revenue and net profit.