On September 23, BIREN TECH fell 3.4% in regular trading, trading at HK$41.6 per share, with turnover of approximately HK$52.83 million. The decline comes as a technical pullback following a sharp multi-day rally, with the stock having surged over 12% on September 21 and gained another 4% on September 22, accumulating significant short-term gains.

On the news front, Daiwa on September 22 raised its target price for the company from HK$100 to HK$130, reiterating a Buy rating. The broker lifted revenue forecasts for 2027 and 2028 by 94% and 58% respectively, projecting revenue of RMB 21.01 billion and RMB 45.51 billion, while net profit estimates were raised 35% and 10% to RMB 4.18 billion and RMB 11.97 billion. The implied valuation corresponds to approximately 15x forward price-to-sales for 2027. Multiple institutions have also issued Buy ratings, and the company has denied earlier rumors of a US$1 billion share placement, alleviating dilution concerns.

Fundamentally, BIREN TECH reported H1 revenue of RMB 1.236 billion, up 1,997.6% year-over-year, with gross margin rising to 42.7% and adjusted net losses narrowing 38.9%. The company remains in a loss-making phase, with institutions broadly expecting a breakeven by 2027 as its next-generation BR20X chip enters cloud testing and moves toward volume deployment.

(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.)