Daiwa released a research report stating that it expects Goldwind Science & Technology (02208.HK)’s potential investment gains to underpin its short-term earnings performance and drive a medium-term valuation re-rating. Additionally, the company’s outstanding share buyback program is also expected to support the stock price. The firm upgraded the company’s rating from “Hold” to “Outperform” and raised its H-share target price from HK$13 to HK$17. The firm noted that Blue Arrow Aerospace plans to list on the STAR Market of the Shanghai Stock Exchange this year, with its current valuation exceeding RMB 20 billion; the market expects the company’s valuation to potentially be revalued to RMB 100 billion following the listing. The firm believes that, given Goldwind’s equity stake in Blue Arrow Aerospace and in conjunction with SpaceX’s proposed IPO, these potential catalysts could drive a significant revaluation of Goldwind’s market capitalization.