On September 29, BIREN TECH rose 3.08% in regular trading, trading at HK$36.26/share, with turnover of HK$65.44 million. The stock rebounded after multiple consecutive sessions of pullback, including a single-day drop exceeding 8% on September 28, as short-term profit-taking pressure was largely absorbed.

On the news front, Daiwa recently raised its target price for the company from HK$100 to HK$130, reiterating a Buy rating. The broker lifted its revenue forecasts for 2026 through 2028 by 14%, 94%, and 58% respectively, projecting revenues of RMB 2.41 billion, RMB 21.01 billion, and RMB 45.51 billion. Management also doubled its 2027 revenue guidance to RMB 20 billion from RMB 10 billion, with flagship chip BR20x expected to begin delivery in Q4. Goldman Sachs separately maintained a Buy rating with a HK$80.5 target price, citing continued AI chip shipment ramp-up.

Fundamentally, BIREN TECH reported H1 revenue of RMB 1.236 billion, surging 1,998% year-over-year, with gross margin improving to 42.7%. The company has secured substantial supply chain capacity, with inventory and prepayments rising significantly to support next-generation product mass production.

(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.)