Huaxi Securities: Initially rates Aux Electric (02580.HK) as "hold" and promotes globalization layout.

Economic Weekly APP learned that Huaxi Securities released a research report stating that the revenue of AUX Group (02580.HK) is expected to be 30.6 billion yuan, 32.1 billion yuan, and 34.5 billion yuan from 2026 to 2028, with net profit attributable to mother being 2.2 billion yuan, 2.4 billion yuan, and 2.7 billion yuan, respectively. The corresponding EPS are 1.39 yuan, 1.51 yuan, and 1.68 yuan. Based on the closing price of 11.25 Hong Kong dollars on June 4, 2026 (according to Tonghuashun, the exchange rate is 1 Hong Kong dollar = 0.83 RMB yuan), the comparable company's average PE for 2026 is 11 times, corresponding to PE ratios of 7/6/6 times. This is the first coverage, with a "hold" rating being given.