On September 17, BIREN TECH rose 3.04% in regular trading, trading at HK$33.88 per share, with turnover of approximately HK$29.16 million. The move was driven by a combination of a reported fundraising plan and a bullish institutional endorsement.
According to recent reports, BIREN TECH is considering a potential share placement of approximately $1 billion, with proceeds intended for AI-related business expansion. The placement could be launched as early as early October, when the 90-day lockup period following its $900 million share sale in July expires. Banks are reportedly in the early stages of gauging investor interest, and final details have yet to be confirmed.
Meanwhile, Goldman Sachs recently reiterated its Buy rating on the company with a 12-month target price of HK$80.5, projecting a 69% CAGR for China's AI chip market through 2030. The firm applied a 36.3x forward EV/EBITDA multiple discounted to fiscal year-end. Morgan Stanley has also been a consistent buyer, raising its stake to 5.02% in late August.
On fundamentals, the company reported H1 revenue of RMB 1.236 billion, a 1,998% year-over-year surge, with gross margin improving to 42.7% and adjusted net loss narrowing 38.9%. Peer ILUVATAR COREX gained 4.59% on the day, reflecting broader sector momentum.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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