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SGBIREN@EC2701A

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LongbridgeAI

Top 5 HK Stock Gainers/Losers (>100B) (9.2)
Top Gainers&Losers·2 days ago, 08:30 AM
- On September 2, 2026, the Hang Seng Index fell 0.07 % while the Hang Seng Tech Index declined 0.74 %. - Among major Hong Kong stock companies, China Overseas Development rose 4.55 % with a turnover of 7.3 billion HKD, and Kingboard Laminates increased 3.29 % with a turnover of 31.6 billion HKD. - Conversely, Freegold-DRS dropped 7.54 % with a turnover of 57.306 million HKD, and China International Capital Corporation fell 7.12 % with a turnover of 550 million HKD.
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CICC Keeps Their Buy Rating on Shanghai Biren Technology Co., Ltd. Class H (6082)
Tip Ranks·2 days ago, 05:07 AM
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Asian Growth Stocks With Strong Insider Ownership
Simplywall·2 days ago, 04:20 AM
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Biren Technology falls 5% in Hong Kong trading
HK Stock Market Update·2 days ago, 01:37 AM
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CLSA Slightly Raises BIREN TECH TP to HKD67.5 on Strong AI Chip Demand
AASTOCKS News·Sep 1 at 03:00 AM
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Top 10 HK Stock Gainers (8.31)
Top Gainers&Losers·Aug 31 at 08:30 AM
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Top 5 HK Stock Gainers/Losers (>100B) (8.31)
Top Gainers&Losers·Aug 31 at 08:30 AM
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China's GPU Sector Advances in First Half as Two Makers Swing Into The Red, Two Narrow Losses
Yicai·Aug 31 at 05:33 AM
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STOCKS | Biren Technology Rises 7.8% After Interim Loss Narrows
CoinLive·Aug 31 at 02:05 AM
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Biren Technology climbs 5% as first-half revenue jumps nearly 20-fold
HK Stock Market Update·Aug 31 at 01:42 AM
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Shanghai Biren Technology (SEHK:6082) Stock Rich Valuation Meets Narrower Losses
Simplywall·Aug 30 at 12:28 AM
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Weekly Recap | 6082.HK +12.95%, first interim revenue up nearly 20x
Weekly Review·Aug 29 at 04:46 AM
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Birentech 1H26 quick take: Post-market on Aug 28, Birentech released its first results since listing. As the company had already issued an interim profit alert on Aug 17 with ranges for revenue and loss, the better-than-expected narrowing was largely priced in.However, the next-day and subsequent tape suggested investors were not buying it.In our initiation, we laid out the stock’s beta logic and H2 catalysts. This note tracks what in the print merits attention.1. RevenueDespite revenue surging +2,000% YoY to RMB 1.236bn, QoQ growth was only +26.6%, indicating no sustained step-up. The core revenue driver remains BR166X, which we flagged as a dated product in our coverage.Market focus is still squarely on BR20X.2. Gross marginGPM expanded 1,100bps YoY, yet it is clearly lower vs. peers Moore Threads/MetaX with near-60% GPM. This is largely due to the current mix being BR166X-heavy.Mass production of BR20X should improve margin structure.3. Leading indicatorsDownstream CSPs such as Tencent and Alibaba have materially ramped CAPEX, but this cycle has yet to show up in Birentech’s leading indicators. Inventories rose 28% vs. FY25, broadly in line with revenue growth, while contract liabilities shrank slightly.This suggests downstream orders have not flowed in meaningfully to Birentech, as BR166X lags peers by a generation and has not broken through with customers.BR20X has taped out in small volumes, and prepayments rose +230% vs. end-FY25, likely reflecting upstream capacity reservations. We expect a meaningful ramp for BR20X in 2027.4. ValuationThe company’s current market cap is RMB 87bn. We see domestic compute as a clear investment theme, with BR20X commercialization and customer breakthroughs remaining the key H2 watchpoints.That said, the fundamentals in this print do not point to a strong alpha name.We think the tape-out validation cadence is not fast, and BR20X, initially slated for H2 commercialization, may be delayed. In the supply chain, leading foundry SMIC’s advanced-node capacity is primarily allocated to Huawei and Cambricon, and Hua Hong’s capacity ramp is another key risk.In Dolphin Research’s TAM sizing, the AI xPU market reaches $80–90bn by 2030. Under a conservative case of 1.5% share (our base-case market split: Huawei ~70%, Cambricon ~10%, and if the remaining eight players split evenly, Birentech at ~2.5%), that implies revenue of $1.2–1.35bn.Assuming ~15x PS in 2030 and a 40% margin (≈38x PE), discounted back to 2026 at 13%, the fair value is $11–12bn, or ~HK$80bn.We see better downside protection at that level. $BIREN TECH(06082.HK)
Aug 28 at 12:02 PM
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BIREN TECH Interim Loss Narrows to RMB377 million, Revenue Surges Nearly 20x
AASTOCKS News·Aug 28 at 09:30 AM
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Shanghai Biren FY26 H1 loss narrows 76.4% to RMB 377.2 million; revenue climbs to RMB 1.24 billion
PUBT·Aug 28 at 08:34 AM
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