The Zhitong Finance App learned that Yamato released a research report stating that it reaffirmed the “buy” rating of Bijiao Technology (06082) and took a positive attitude towards the company's allotment financing. Bijiao Technology announced before the market on October 8 that it plans to issue 130 million shares at HK$31.08 per share, raising HK$4 billion, at a 9.76% discount from the closing price of HK$34.40 on October 7. Although the share issuance is expected to dilute the expected profit per share by about 5% in 2027, the bank remains positive because it shows progress in the development of the company's flagship product BR20x.

The bank indicated that 70% (HK$2.8 billion) of the proceeds from this fund-raising will be used for supply chain procurement, 20% for R&D, and 10% for working capital. The company raised HK$7 billion in July 2026, of which approximately HK$4 billion was spent on supply chain management. The bank estimates that the two fundraisers together provided a total of HK$7 billion for capacity reservation and material procurement, and indicated that the company plans to use most of the approximately HK$4 billion previously raised for supply chain management by the end of 2026. Considering that the company's 2027 revenue target is 20 billion yuan, compared to the 2026 forecast of 2 billion yuan, Daiwa believes additional supply chain procurement capital is necessary.

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