Daiwa raised its target price for Biren Technology (06082.HK) to HK$130 from
HK$100 and reiterated a Buy, after management lifted 2027 revenue guidance to
yuan 20 billion from yuan 10 billion. Daiwa said the revision reflects higher
average selling prices for mainstream Chinese AI chips and a bigger revenue mix
from super‑pod solutions, signaling confidence in the flagship BR20x chip and
order pickup. The broker raised its 2026–28 revenue forecasts by 14%, 94% and
58% to yuan 2.408bn, yuan 21.008bn and yuan 45.508bn, and upped 2027–28 net
profit forecasts by 35% and 10% to yuan 4.179bn and yuan 11.967bn. The new PT
implies roughly 15x 2027 price-to-sales.
