CICC has released a research report stating that Goldwind Science & Technology (02208) delivered third-quarter results in line with market expectations. Revenue rose 25.41% year-on-year and 2.86% quarter-on-quarter, while net profit surged 170.64% year-on-year and 19.31% sequentially.
The firm raised its earnings forecasts for Goldwind by 7.8% and 12.5% for this year and next, to RMB3.31 billion and RMB4.74 billion respectively. CICC maintained its "Outperform" rating on the stock and increased the H-share target price by 56.5% to HK$17.39.
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