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| HSI1 | 25,143.05 | +580.81 | 306.41B |
| HSCEI1 | 8,381.90 | +245.17 | 93.65B |
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2026-07-17 18:12:15 Citi issued a report initiating coverage on DAJIN (01081.HK) with a Buy rating and a target price of HKD50 based on discounted cash flow (DCF) valuation. The broker is positive on the stock for several reasons, including: (i) strong growth in European offshore wind power installations (according to WindEurope data, installations are expected to reach 34.5 GW during 2026-2030, representing 2.4x the installations recorded during 2021-2025); (ii) DAJIN aims to increase its market share in European offshore wind monopile orders from 30% to 40% by 2026; (iii) forecast net profit to double during 2025-2028; and (iv) additional upside potential from its shipbuilding business. The broker attributed the recent share price weakness to slower-than-expected new order inflow since the beginning of the year and the relatively high valuation implied by the H-share IPO price. DAJIN is currently valued at 9x projected 2027 P/E and 1.4x P/B, which is not demanding compared with its 2026-2028 EPS CAGR of 39%, and remains well below European peers' 17.7x P/E and 3.7x P/B. Key catalysts include further new orders in 2H26. DAJIN is Citi's top pick in China's wind power equipment sector. (da/a)~ AASTOCKS Financial News Website: www.aastocks.com This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. | |