29 April 2026 | 12:05AM HKT Equity Research Jiangsu Hengli Hydraulic Co. (601100.SS) Earnings Review: 1Q26 miss on soft GPM and unfavorable FX, offsetting strong top-line; Neutral 601100.SS 12m Price Target: Rmb93.00 Price: Rmb104.52 Downside: 11.0% Hengli reported its 1Q26 results after market close on Apr 27 and held an analyst briefing call on Apr 28. 1Q26 NP of Rmb652mn (+6% yoy) was -16% below GSe on weak GPM realization driven by continued drag from the new business and Mexico factory, in addition to ...