DBS lowers the target price for Xiexin Technology to HKD 1.3, rating it as a buy.

On April 2, Jin10 reported that DBS issued a research report stating that the stock price of GCL-Poly Energy Holdings Limited (03800.HK) is expected to largely follow the price cycle of polysilicon. Additionally, the government may implement policies to control production or even eliminate outdated capacity, which will act as a catalyst for the stock price. Currently, it is anticipated that GCL-Poly’s production will decline by 30% this year, while the average selling price is expected to rise by over 10%, offsetting the impact of the production decline. DBS maintains a “Buy” rating on GCL-Poly, but considering that the recovery speed of profits is slower than expected, it has lowered its profit forecast for this year from 1 billion yuan to 61 million yuan. It believes that the rise in average selling price and the decline in costs will allow profits to rebound to 1.7 billion yuan next year, and the target price has been lowered from HKD 1.35 to HKD 1.30.