According to the report released by Zhongyin International, its research report upgraded Yankuang Energy (01171) to "buy", with the earnings per share forecast for 2024 to 2026 being reduced by 2% to 3% to reflect the impact of placement and recent acquisitions, with the target price of HKD 20.53.

The report states that although the recent placement of Yankuang Energy's H shares was unexpected, it eliminated the risk of further placement of H shares in the coming months. The valuations of a coal mining machinery company and an online logistics platform recently acquired by Yankuang Energy are not attractive, but the trading scale is relatively small and may bring synergies in the long term.