Company Update: Surfing the wave of industrial digitalisation
- Industrial digitalisation remains the key growth driver, with highest revenue exposure of 30% among peers
- Earnings trimmed by 1%/3%/9% for FY23-25, on softer enterprise spending amidst a weak macro
- Forecast earnings to grow by 11%/10%/11% in FY23/24/25, respectively
- Maintain BUY for attractive dividend yield of 7%; TP of HK$6.1
