Goldman Sachs
June 17, 2026
Sieyuan Electric Phase III Transformer Expansion to Further Support Export Growth
Single Stock ReportEquitiesIndustrials
Sieyuan Electric announced a new Phase III transformer factory expansion to address supply shortages and support its export-led growth strategy. Goldman Sachs reiterates a Buy rating with a 12-month target price of Rmb223.9.
Key Takeaways
- 1.Sieyuan Electric announced a Rmb480mn Phase III transformer factory expansion to support medium-term export growth.
- 2.The company maintains a significant time-to-market advantage, delivering transformers in 24-36 weeks compared to global lead times of ~128 weeks.
- 3.The investment supports the analyst's forecast of reaching Rmb10.6bn in power transformer revenue by 2029E.
Table of Contents
- Investment thesis, valuation methodology and risks
- Disclosure Appendix
- GS Factor Profile
- M&A Rank
- Quantum
- Disclosures
- Price target and rating history chart(s)
- Target price history table(s)
- Regulatory disclosures
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Authors
Zhou LiJacqueline DuHao Chen
Securities
Sieyuan Electric
Themes
Global power transformer shortageGlobal grid infrastructure upgrade cycleData center infrastructure demand
Regions
GlobalChinaUnited States