CLSA has issued a research report initiating coverage on BIREN TECH (06082) with an "Outperform" rating and a target price of HK$46.3. The firm stated that BIREN TECH is a leading provider of general-purpose intelligent computing solutions in China. The company stands to benefit from robust AI capital expenditure growth among domestic hyperscalers, as well as supportive policies that continue to drive demand for locally produced AI chips. CLSA forecasts that BIREN TECH will achieve a compound annual growth rate of 151% in revenue between fiscal years 2025 and 2027. It also expects the company to turn profitable by 2027, with projected net profit reaching RMB 1.3 billion.
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