Yamato: Goldwind Technology (02208) benefits from the progress of the Blue Rocket Aerospace Science and Technology Innovation Board IPO application

The Zhitong Finance App learned that Yamato released a research report saying that Goldwind Technology (02208) rose more than 17% in the intraday market last Friday (2nd), which is expected to stem from the mainland private rocket company Land Space (Land Space) making significant progress in its IPO. The bank gave Goldwind Hong Kong shares a “holding” rating.

According to the Shanghai Stock Exchange, the Blue Rocket Aerospace Science and Technology Innovation Board's IPO application has been accepted, and the company plans to raise 7.5 billion yuan. Meanwhile, Goldwind Technology has a major shareholding in Blue Rocket Space Equipment. Blue Rocket Aerospace's pre-launch valuation was over 20 billion yuan. The market estimated that its post-launch valuation ranged from 60 billion to 100 billion yuan, and Daiwa estimated that the market's valuation premium for Goldwind reached 10% (currently Goldwind's valuation is about 90 billion yuan).

Furthermore, the bank anticipates that any positive progress in the Blue Rocket Aerospace Science and Technology Innovation Board IPO, as well as positive news on the mainland's commercial space policy, could bring further positive stock price catalysts to Goldwind and an opportunity for Goldwind to re-evaluate its valuation.