On September 22, Daiwa issued a research report indicating that Biren Technology's (06082.HK) management has recently revised its revenue forecast for 2027, escalating it from RMB 1 billion to RMB 20 billion. This revision predominantly stems from the uptick in the average selling price of mainstream AI chips within the Chinese market, coupled with the revenue surge from super-pod solutions propelled by a refined product portfolio. This move underscores the company's robust confidence in the prospective trajectory of its flagship chip, the BR20x, and its prowess in clinching customer orders. Daiwa retains a "Buy" recommendation and elevates the target price from HK$100 to HK$130, aligning with a projected price-to-sales ratio of roughly 15 times for 2027. Furthermore, Daiwa has upwardly adjusted its revenue projections for the years 2026 through 2028, anticipating growth rates of 14%, 94%, and 58%, respectively, culminating in revenues of RMB 2.408 billion, RMB 21.008 billion, and RMB 45.508 billion. These revisions mirror the encouraging trends gleaned from the first-half results and the revenue guidance for the forthcoming year. Concurrently, net profit forecasts for 2027 and 2028 have also been revised upwards by 35% and 10%, respectively, reaching RMB 4.179 billion and RMB 11.967 billion.