Guotai Junan maintains Titan's 2188.HK buy rating, with a target price of HK $1.62.

The company has signed an agreement with the Ssangyong cement plant in Zunyi County to build and manage power production facilities for the Ssangyong cement plant, and the company said Titan Energy Technology would record revenue of about 46.25 million yuan based on maximum power generation. Guotai Junan said that based on the median electricity generation, the project's annual revenue contribution to Titan is expected to be 10.5 million yuan, and the annual net profit contribution will reach 5 million yuan. But the bank added that the biggest risk to the project was the operation of Ssangyong cement, the contractor. If the Ssangyong cement plant faces operational difficulties in some period, the actual power generation will not meet the company's expectations.

Titan Energy Technology fell 3.3 per cent to HK $1.16.