HK Stock Market Move | Goldwind Science & Technology (02208) fell more than 4%, JP Morgan said the company's stock price may have risen too much in response to Blue Arrow Aerospace.

Goldwind Science & Technology (02208) fell more than 4%, as of the time of writing, it is down 3.63% to HK$15.13, with a trading volume of HK$944 million. On the news front, on December 31, 2025, Blue Arrow Aerospace officially submitted its listing application and was accepted, with the potential to become the "first stock in commercial aerospace." Blue Arrow Aerospace's prospectus shows that Jianghan Assets, a subsidiary of Goldwind Science & Technology, holds 4.14% of Blue Arrow Aerospace's shares. Goldwind Science & Technology recently stated that its stake in Blue Arrow Aerospace is an investment in non-listed equity instruments. JP Morgan released a research report stating that Goldwind Science & Technology's A-share has significantly outperformed the market recently, possibly due to market expectations of the value release of its 4.14% stake in Blue Arrow Aerospace. The bank believes that Goldwind Science & Technology's stock price may have risen or reacted overly due to Blue Arrow Aerospace. Since December 31, 2025, the market value of Goldwind Science & Technology has increased by approximately RMB 14 billion. According to the bank's calculation, this means that the valuation multiple of Blue Arrow Aerospace will reach 88 times the 2024 fiscal year price-to-book ratio.