---
title: "UBS raises the target price of GOLDWIND to 26.9 yuan, rating it as \"Buy\""
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/281325150.md"
description: "UBS raised the target price of GOLDWIND to HKD 26.9 and maintained a \"Buy\" rating. Although the performance in the fourth quarter of last year was below expectations due to impairment losses, the annual net profit still reached RMB 2.8 billion, an increase of 49% year-on-year. It is expected that the gross profit margin could reach 12% to 15% from 2027 to 2030, but due to the conflict in the Middle East, the gross profit margin faces pressure in the short term, and the earnings per share forecast for 2026 to 2028 has been lowered by 10% to 18%"
datetime: "2026-04-01T07:47:44.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/281325150.md)
  - [en](https://longbridge.com/en/news/281325150.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/281325150.md)
---

> Supported Languages: [简体中文](https://longbridge.com/zh-CN/news/281325150.md) | [繁體中文](https://longbridge.com/zh-HK/news/281325150.md)


# UBS raises the target price of GOLDWIND to 26.9 yuan, rating it as "Buy"

UBS published a research report indicating that GOLDWIND (02208.HK) performed below expectations in the fourth quarter of last year due to impairment losses, but the outlook for its wind turbine business remains optimistic. The net profit for the entire year was RMB 2.8 billion, an increase of 49% year-on-year; the net profit for the fourth quarter was RMB 190 million, up 178% year-on-year, but down 83% quarter-on-quarter, falling short of market expectations, mainly due to an impairment loss of RMB 1.1 billion recorded in the wind farm business.

The bank stated that benefiting from the wind power industry's reversal of internal competition leading to an increase in average selling prices, as well as an increase in overseas shipments, the gross profit margin last year was 8.95%, up 3.9 percentage points year-on-year. Although the conflict in the Middle East has caused short-term fluctuations in overseas shipping and raw material costs, putting pressure on this year's gross profit margin, the bank predicts that the gross profit margin could reach 12% to 15% from 2027 to 2030, maintaining an optimistic outlook for long-term gross profit margins.

The bank has lowered its earnings per share forecast for GOLDWIND for 2026 to 2028 by 10% to 18%, mainly reflecting the decline in profitability of the wind farm business and the short-term gross profit margin pressure brought about by the Middle East conflict. The target price has been raised from HKD 25 to HKD 26.9, equivalent to a forecast price-to-earnings ratio of 10 times for the wind turbine business in 2027 and a price-to-book ratio of 2 times for the wind power generation business, maintaining a "Buy" rating

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