HK Stock Market Move | TIANGONG INT'L (00826) rose more than 9% Powder metallurgy industry chain global layout Institutional raise company target price

TIANGONG INT'L (00826) rose more than 9%, rising by 9.69% to 4.19 Hong Kong dollars as of the time of drafting, with a turnover of 515.678 million Hong Kong dollars. In terms of news, recently, TIANGONG INT'L reached a deep strategic cooperation agreement with the global leader in heat treatment and hot isostatic pressing (HIP) technology, Bodycote, a company based in the UK. The two sides will integrate their core strengths and collaborate in the aerospace, automotive, energy, and other high-end manufacturing sectors to create a new model of globalized collaborative development incorporating "technology + production capacity + market". Currently, the company's subsidiary Jiangsu Tiangong Xin Zhi Materials Co., Ltd. is planning the second phase of its powder metallurgy project, intending to add five hot isostatic pressing devices to further solidify the company's production capacity and technological advantages in the field of high-end alloy materials powder metallurgy, providing strong support for the implementation of the strategic cooperation. CICC recently released a research report stating that considering that high-end materials from TIANGONG INT'L may continue to increase output from 2026 onwards, driving the company's transformation from a leader in tool and die steel to a supplier of high-end new materials. The brokerage has switched the company's valuation to 2026 and maintained an outperform rating, raising the target price by 76% to 5.29 Hong Kong dollars, corresponding to a 26-year P/E ratio of 18.4x, implying a 50% upside potential. The company's current stock price corresponds to a 12.3 times P/E ratio in 2026 and a 9.5 times P/E ratio in 2027.