Redeye updates its estimates and fair value range following CTEK’s Q2 report, which was released last week. We think the report was somewhat softer than expected, although largely in line with our estimates, where macroeconomic turbulence dented the short-term growth curve. However, we think that the investment case remains equally intact following the report, and we look forward to seeing CTEK launching its adjacent product categories in H2 2025.

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