Goldwind Science & Technology Co., Ltd. (02208) fell more than 4% in Hong Kong trading, extending recent losses. At the time of writing, the stock was down 3.91% to HK$13.53, with a turnover of HK$299 million.

The decline comes amid news that on March 31, according to the Shanghai Stock Exchange website, the IPO application of LandSpace, which is aiming to become China's first listed commercial aerospace firm, has been suspended. LandSpace stated that the suspension is a procedural adjustment and that it is currently updating materials as required.

It is worth noting that a number of companies, including LandSpace and Changxin Technology, have seen their IPO reviews suspended in clusters. The primary reason cited is that the financial documents in their listing applications have passed their validity period and require supplementary submissions.

In a recent research report, UBS lowered its earnings per share forecast for Goldwind for 2026 to 2028 by 10% to 18%, primarily reflecting lower profitability in its wind farm business and short-term gross margin pressure stemming from Middle East conflicts. However, UBS raised its target price for Goldwind from HK$25 to HK$26.9, equivalent to a 2027 forecast price-to-earnings ratio of 10 times for its wind turbine business and a doubling of the price-to-book ratio for its wind power business. The bank maintained a "Buy" rating on the stock.