Company Update: Two motivators to drive growth
- Orders related to industrial internet and digitalisation grew 30% in 1H23, supporting future revenue growth
- Lowered earnings forecasts by 1%/3%/3% for FY23/24/25, on assumption of higher operating expenses
- Expect earnings to grow by 7%/7%/8% in FY23/24/25, respectively
- Maintain BUY for its attractive dividend yield of 7%; TP of HK$4.9