On October 26, BIREN TECH fell 3.04% in Regular Trading, trading at HK$22.98, with turnover of HK$22.27 million.
The move coincided with continued market digestion of the company’s recently completed new H-share placement, even after a major broker reiterated a Buy rating and lifted its 12-month target price.
BIREN TECH completed the placement of 130 million new H shares on October 12 at HK$31.08 per share, raising net proceeds of about HK$4.02 billion. The new shares represented about 4.76% of enlarged total share capital. The proceeds were earmarked mainly for next-generation product supply chain procurement, production preparation, commercialization, research and development, and working capital. Although a broker later raised its target price to HK$92 and increased earnings forecasts for 2027-2030 on expectations of new GPU product volume, higher average selling prices and continued shipments, the stock remains below the placement price, suggesting dilution and valuation pressure are still weighing on sentiment.
(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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