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2024-12-23 10:11:58 GCL TECH (03800.HK) had announced last Thursday (19th) that it intended to raise HK$1.56 billion through a share placing and US$500 million through a convertible bond issue. This round of financing is expected to total US$700 million. Huatai Securities released a research report, expecting that the funds will majorly be used to replenish cash flow and overseas production capacity construction, and that there is no need to over-worry about the company's cash situation. The recent PV policy is gradually landing, said the broker, adding that the valuation of the industry has been revised down. The company's target price was cut from HK$2.29 to HK$1.92, with rating kept at Buy. ~ AAStocks Financial News Web Site: www.aastocks.com | |