Goldman Sachs: First time Geely Auto (00175) “buy” rating, target price of HK$24 is expected to rise to half of overseas sales in 2030

Zhitongcaijing · 1d ago

The Zhitong Finance App learned that Citibank released a research report saying that WLT Partners, the relevant shareholder of Lanqi Technology (06809), plans to sell up to 2.33 million A shares, accounting for 0.19% of the total share capital, to raise funds for the upcoming equity incentive exercise requiring more than 500 million yuan in capital. The bank expects the sale to have limited impact on the stock price, and reaffirmed the “buy” rating of Lanqi Technology's A Shares (688008.SH), with a target price of RMB 320.

The bank believes that the sale is small and the use of capital is clear, and the impact on stock prices is limited. At the same time, Lanqi Technology's strong growth prospects over many years remain complete. The first is the strong order momentum from the second half of 2026 to 2027, driven by agent-based AI. Increased CPU shipments and improved memory channels should support memory interface demand, while the migration of the DDR5 sub-generation and the arrival of the final DDR6 will support an increase in average sales price and gross margin.