--- title: "\"Big Banks\" JP Morgan: The rise in Goldwind's stock price due to Blue Arrow Aerospace may be an overreaction" type: "News" locale: "en" url: "https://longbridge.com/en/news/271730636.md" description: "JP Morgan pointed out that the rise in Goldwind's stock price due to expectations of Blue Arrow Aerospace's IPO may be an overreaction. It is expected that by December 2025, the prices of solar silicon wafers and batteries will significantly increase due to rising material costs, and industry consolidation will occur in 2026. Goldwind's market value has increased by approximately 14 billion yuan since December 31, 2025, with the valuation multiple reaching 88 times the price-to-book ratio for the fiscal year 2024. Investors are advised to pay attention to Dongfang Cable, as Siyuan Electric has signed a memorandum of understanding for energy storage cooperation with CATL, which is expected to bring upward potential to its future earnings" datetime: "2026-01-07T03:03:00.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/271730636.md) - [en](https://longbridge.com/en/news/271730636.md) - [zh-HK](https://longbridge.com/zh-HK/news/271730636.md) --- > Supported Languages: [简体中文](https://longbridge.com/zh-CN/news/271730636.md) | [繁體中文](https://longbridge.com/zh-HK/news/271730636.md) # "Big Banks" JP Morgan: The rise in Goldwind's stock price due to Blue Arrow Aerospace may be an overreaction JP Morgan's report points out that the prices of solar silicon wafers and batteries will rise significantly by December 2025, mainly due to the increase in key material costs (including polysilicon and silver paste), and partly driven by anti-involution policies. With the establishment of a polysilicon industry consolidation platform in early December 2025, the bank expects policy-driven industry consolidation to occur in 2026. The bank has given "Overweight" ratings to GCL-Poly Energy (03800.HK) and Daqo New Energy (DQ.US). The stock prices of Goldwind Technology (02208.HK) H shares and Goldwind Technology (002202.SZ) A shares are expected to rise by 17% and 18%, respectively, in early January 2026 (from December 31, 2025, to January 6, 2026), while the Hang Seng China Enterprises Index rose by 4% and the Shenzhen Component Index rose by 3% during the same period. According to communications with investors, this round of increase may be attributed to market expectations of the value release of its 4.14% stake in Landspace, as Landspace currently has IPO plans. However, the bank believes that the rise in Goldwind Technology's stock price due to Landspace may be an overreaction. Since December 31, 2025, Goldwind Technology's market capitalization has increased by approximately RMB 14 billion. According to the bank's calculations, this implies that Landspace's valuation multiple will reach 88 times the price-to-book ratio for the fiscal year 2024 (assuming no group discount at the Goldwind Technology level). In the upstream wind power sector, the bank suggests investors shift to Dongfang Cable (603606.SH). Siyuan Electric (002028.SZ) has signed a three-year memorandum of understanding for energy storage cooperation with CATL (03750.HK), with a total scale of 50GWh. The bank believes this cooperation demonstrates Siyuan Electric's ambition to develop its energy storage system business, with a total capacity that could support approximately RMB 20 billion in annual revenue once fully completed. Based on preliminary estimates, the bank expects this 50GWh cooperation could bring more than 10% upside to Siyuan Electric's market consensus earnings forecast for the fiscal years 2027 to 2028 ### Related Stocks - [Goldwind (002202.CN)](https://longbridge.com/en/quote/002202.CN.md) - [GOLDWIND (02208.HK)](https://longbridge.com/en/quote/02208.HK.md) ## Related News & Research - [CATL's controlling shareholder to donate some A-shares](https://longbridge.com/en/news/281197776.md) - [Shin Hwa World logs FY revenue HK$966.9 mln](https://longbridge.com/en/news/281055310.md) - [BYD sold 120,000 NEVs overseas in March, but the EV giant says this is just the start](https://longbridge.com/en/news/281424529.md) - [Datang Renewable's 2025 Profit Falls 33%](https://longbridge.com/en/news/280955777.md) - [The AI industry's biggest names have thoughts on whether you should have kids](https://longbridge.com/en/news/280988304.md)