0944 GMT - Shanghai Biren Technology raises its 2027 revenue target to 20 billion yuan, as the average selling price of its soon-to-be-released chip has doubled, DBS analysts say in a note after a meeting with management. Biren completed the design process of its second-generation chip, the BR20X, in August and expects customer adoption test results within the next three to four months, they say. The average selling price was reset to 300,000 yuan from 150,000 yuan while it still expects to ship 70,000 chips next year, the analysts say. Management thinks that as Nvidia H200's street prices in China have risen to 300,000 yuan-400,000 yuan, BR20X's new price tag is justified as it can deliver 80%-120% of H200's performance. Shares last ended at 37.38 Hong Kong dollars.
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