Guoyuan International: Maintain a buy rating on New Energy (01799.HK) with a target price of 6.38 Hong Kong dollars.

According to the Financial Channel APP, Guoyuan International has released a research report stating that it maintains a "buy" rating for Nexteer Energy (01799.HK) and updates the target price to 6.38 Hong Kong dollars per share, corresponding to a 16 times PE ratio in 2027, with a 63% upside potential from the current price. In summary, the company is entering a valuation recovery channel: 1) H shares are smoothly progressing towards full circulation, improving trading liquidity and enhancing the value of the capital platform; 2) The clearance of polysilicon supply is accelerating, and if the industry price center gradually recovers from the cash cost, the company's loss reduction is expected to continue to expand. The company's PB ratio in 2026 is only about 0.16 times, already at a significantly low level, with high potential for valuation recovery elasticity.