Goldwind Technology (02208) saw its shares surge more than 14% during the trading session. At the time of writing, the stock was up 7.2%, trading at HK$17.28 with a turnover of HK$2.339 billion. The catalyst for the move stems from LandSpace Technology's recent submission of a draft prospectus for an initial public offering on the Sci-Tech Innovation Board. The prospectus reveals that Jianghan Asset Management, a subsidiary of Goldwind, holds a 4.14% stake in LandSpace, making it the sixth-largest shareholder. Daiwa Capital Markets believes that Goldwind's potential investment gains will bolster its short-term earnings performance. Coupled with SpaceX's proposed IPO, this could drive a significant re-rating of the stock. Consequently, Daiwa upgraded its rating on Goldwind's H-shares from "Hold" to "Outperform" and raised its target price from HK$13 to HK$17.
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Goldwind Technology (02208) Surges Over 14% Intraday as Daiwa Cites Potential Investment Gains from LandSpace to Support Short-Term Earnings
Stock News01-09
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