Guohao Capital maintains the Pearl River Steel Pipe (1938.HK) buying rating, with a target price of HK$4.20. Guohao Capital said that Pearl River Steel Pipes has fallen by 17.7% over the past three months, outperforming the Hang Seng Index by 13.2% and the H-share Index by 13.1%, respectively. The bank said that part of the reason for the decline in Pearl River Steel Pipe was that the company's financial director left office in April, which weakened investor confidence. The bank pointed out that the bank has had exchanges with the former and current financial director of Pearl River Steel Pipe. It believes the market has overreacted to this news and believes that at a time when the basic outlook is improving, it is now a good opportunity to buy at an opportunity. Pearl River Steel Pipeline dropped 1.2% yesterday to close at HK$3.27.