CICC: Raises Aisino Technology's target price by 35% to HKD 1.77, maintains neutral rating

Jinshi data news on October 29th, CICC released a research report, raising the profit for Xinjiang Technology (03800.HK) for 2025/26, and at the same time raising the target price from 1.31 Hong Kong dollars by 35.1% to 1.77 Hong Kong dollars. The bank is optimistic about the company’s continuous improvement in the market share of granular silicon due to cost advantages, but the recent big rise in stock price has already fully reflected the expectation of supply-side reform Favourable Information, and further valuation improvement awaits policy implementation, maintaining a “neutral” rating. The report pointed out that the company’s net loss attributable to the mother in the third quarter was 1.492 billion yuan (the same below), narrowing by 0.2 billion yuan from the previous quarter, and the cash cost per ton of granular silicon (including R&D expenses) was 33,200 yuan. Even with a drop in production capacity utilization, it still decreased by 0.2 yuan on a month-on-month basis, with significant technological improvement.