NEXTEER's stock price plunged 5.02% during intraday trading, following the release of its second-half financial results and a subsequent downward revision of its price target by a major brokerage.

The decline comes after Bank of America Securities reported that NEXTEER's net profit for the second half fell 16% year-on-year to US$39 million, significantly missing the brokerage's forecast by 47%. The weaker performance was attributed to higher-than-expected operating expenses and a US$24 million impairment loss related to the cancellation of an electric vehicle project.

In response to the financial update, the institution lowered its earnings per share estimates for 2026 and 2027 and reduced its price target for NEXTEER from HK$10 to HK$8.2, while maintaining a "Buy" rating on optimism for future margin improvement and new steer-by-wire orders.