Movement Alert｜Biren Technology Rises 3.49% in Regular Trading, DBS Initiates Coverage with Fair Value of HK$80.74 amid Semiconductor Sector Rally

Market Focus06-24

On June 24, Biren Technology rose 3.49% in regular trading, trading at HK$63.4/share, with turnover of HK$107 million. The stock rebounded following the previous session's pullback from its all-time high of HK$66.35.

On the news front, DBS published a research report initiating coverage on Biren Technology with a fair value of HK$80.74, implying approximately 31% upside from the current price. DBS is bullish on the company's structural opportunity to benefit from expanding capital expenditure by Chinese cloud service providers, projecting a revenue compound annual growth rate of 147% from fiscal year 2026 to 2028.

Meanwhile, the semiconductor sector staged a broad-based rally, with Hua Hong Grace up 12.51%, GigaDevice up 6.89%, SMIC up 6.68%, and Montage Technology up 4.51%, providing strong sector tailwinds. The company has recently completed Day0-level adaptation for over 20 leading large language models including Zhipu GLM-5.2 and MiniMax M3, demonstrating its full-stack technical capabilities in the domestic AI computing ecosystem.

(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.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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