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<Research> CLSA Initiates SIGENERGY (06656.HK) at Outperform, TP HKD608
CLSA issued a research report stating that it has initiated coverage on distributed energy storage system (DESS) solution provider SIGENERGY (06656.HK) with an Outperform rating an...
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<Research> CLSA Initiates SIGENERGY (06656.HK) at Outperform, TP HKD608
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CLSA issued a research report stating that it has initiated coverage on distributed energy storage system (DESS) solution provider SIGENERGY (06656.HK)  +29.500 (+5.673%)   with an Outperform rating and a target price of HKD608, implying forecast P/E ratios of 27x and 20x for this year and next year, respectively. The broker believes key catalysts include more supportive policies and stronger cost pass-through capability, while major risks include weaker-than-expected demand, intense competition, price wars, and disruptive alternative technologies.

CLSA noted that driven by the energy crisis triggered by tensions in the Middle East, the global energy transition is accelerating. It expects global energy storage system shipments to reach 1,273 GWh by 2030, representing a CAGR of 25% from 2025 to 2030.

The broker said SIGENERGY will benefit from shipment growth and high capacity utilization. It forecast revenue CAGR of 50% for 20262028 and net profit CAGR of 40% over the same period on improving operating efficiency. Taking into account product mix changes, gross margin is projected to range between 40% and 42% during the period. (sl/da)(HK stocks quote is delayed for at least 15 mins.)

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