Zhi Tong Cai Jing·2025-10-28 05:45Core Viewpoint - Goldwind Technology (金风科技) reported strong revenue and profit growth for the first three quarters of 2025, but its stock price declined over 4% amid concerns about future earnings surprises and valuation adjustments [1] Financial Performance - Revenue for the first three quarters reached approximately 48.147 billion yuan, representing a year-on-year increase of 34.34% [1] - Net profit attributable to shareholders was about 2.584 billion yuan, showing a year-on-year growth of 44.21% [1] - Basic earnings per share stood at 0.5969 yuan [1] Market Analysis - Daiwa published a report suggesting that there may be potential profit-taking opportunities for Goldwind Technology ahead of its fourth-quarter earnings announcement [1] - The firm believes that the market has largely priced in the guidance of a 2 percentage point increase in gross margin for wind turbines by 2026, indicating limited future positive surprises [1] - Goldwind's largest product segment, wind turbine business, is expected to reach breakeven by 2026, which may limit future valuation upside [1] Rating Adjustment - Daiwa downgraded Goldwind Technology's Hong Kong stock rating from "Outperform" to "Hold" [1] - The target price was raised from 9 HKD to 13 HKD [1]