Macquarie published a research report statingarcadecenterJoseph Galli, chief executive officer and executive director of Chuangke, has tendered his resignation and retired yesterday (20th). He will be replaced by Steven Richman, senior president of its flagship business Milwaukee. The market has been very concerned about Galli over the past 18 years.arcadecenterThe leaders of the company fully recognized it, so they are worried that investors may overreact to news of management changes in the short term, triggering stock price fluctuations.

The bank emphasized that Chuangke has a rich management team and has always implemented its development strategy. It believes that the group's talent pool is underestimated by the market. The main driving force for Chuangke's excellent performance among the industry is its leadership's development plan. It believes that the new executive president has years of industry experience, and this internal promotion will help ensure the stability and continuity of Chuangke's strategic development direction, customer relationships and corporate culture.

Macquarie expects that short-term stock price fluctuations and declines will bring investors opportunities to enter the market. It expects that the group's future operating and development strategies will not undergo any major changes, and it will give it an "outperform" rating with a target price of HK$111.

arcadecenter| Macquarie: Give Chuangke Industrial an "outperform market" rating and target price of HK1

Date: 2024-05-21