Dahua Jixian: Upgraded Goldwind Technology (02208.HK) target price to 10.8 Hong Kong dollars, maintained a "buy" rating.

Zhixin Finance APP learned that Dahua Xian released a research report stating that Xinjiang Goldwind Science & Technology (02208.HK) achieved a profit of approximately 1.49 billion yuan in the first half of the year, a year-on-year increase of 7.3%, in line with expectations. Revenue increased by 41.3% year-on-year to 28.5 billion yuan, mainly driven by a 107% increase in wind turbine deliveries. During the period, the profit margin of Goldwind Science & Technology's wind turbine business rose to 8%, but the comprehensive profit margin fell by 2.9 percentage points year-on-year to 15.3% due to a decrease in contributions from wind farms. The attributable wind farm capacity reached 8,652 MW, with a power generation of 8.495 billion kilowatt hours, a year-on-year increase of 14%, but a decrease in electricity prices resulted in an 8.6% year-on-year decrease in power generation revenue. The bank maintained a "buy" rating on Goldwind Science & Technology, with the target price raised from 7.5 Hong Kong dollars to 10.8 Hong Kong dollars.