Citi: Golden Wind Technology (02208.HK) target price raised to 12 Hong Kong dollars, earnings forecast increased.

Zhitong Finance and Economics APP learned that JPMorgan Chase released a research report stating that Goldwind Technology (02208.HK) had a strong performance in the first three quarters, with a year-on-year increase of 44.2% to 2.584 billion yuan in profit. During the period, the backlog of orders decreased slightly, but the average price remained stable, and it is expected that the gross profit margin will further improve next year. In addition, the management's target for this year is to achieve onshore power generation of 23GW and offshore power generation of 2.6GW, and it is expected that China's offshore wind power installed capacity will continue to grow next year. However, policy changes pose challenges for the operation and sale of wind farms and may bring potential impairment risks. Therefore, JPMorgan Chase raised its profit forecast for Goldwind Technology for 2026 to 2027 by 8% to 10%, maintaining a "neutral" rating for its H-shares, raising the target price by 17% from HK$10.3 to HK$12, and continuing to recommend a "hold" rating for its A-shares, with the target price rising from 14.6 yuan to 17 yuan, an increase of 16%.