Exit and Expansion: Singulus Faces Conflicting Forces Amid Record Rally
27.06.2026 - 16:07:54 | boerse-global.de
When a stock has climbed more than 417% since January, investors typically expect nothing but good news. But for Singulus Technologies, the rally comes with a paradox: its largest shareholder is heading for the exit while the company’s operational turnaround gathers pace.
The Chinese Triumph Science and Technology Group, a subsidiary of state-owned CNBM, plans to offload its entire stake of roughly 1.5 million shares, representing 16.75% of the capital base. The group wants to sell the block in a single transaction to one investor, though the deal has yet to close. In a separate move, Morgan Stanley has lifted its holding to 3.26%, though whether the US bank is linked to the Chinese disposal remains unclear.
While the ownership shuffle plays out, the Kahl am Main-based machinery builder is delivering numbers that justify the euphoria. First-quarter revenue jumped by a third to nearly €22 million, while operating profit quadrupled to €2.2 million. Order intake surged to €28.8 million in the period, setting a brisk pace for the full-year target of around €83 million — a more than 70% increase from the €48.3 million the company managed in a disappointing 2025, when delayed orders pushed the EBIT into negative territory at minus €11.7 million.
Should investors sell immediately? Or is it worth buying Singulus?
The engine of this recovery is solar technology. Singulus has struck a long-term cooperation deal with a global technology leader — analysts at mwb research suspect a non-Asian, likely US-based, player — and secured an initial order in the low double-digit millions. The company is focusing its solar efforts on vacuum coating equipment for high-efficiency perovskite tandem cells, widely seen as the next generation of photovoltaics. A further order for such a system was booked in the first quarter of 2026.
Alongside the solar push, Singulus has been cleaning up its balance sheet. An unnamed strategic partner — the same partner behind the solar collaboration — provided a comprehensive refinancing package that replaced old debt with a secured convertible bond worth around €3.5 million. The five-year note carries a 5% coupon, though it also introduces dilution risk for existing shareholders.
Growth is not limited to solar. In January, Singulus received a repeat order for a TIMARIS coating system used in MicroLED production, with the customer expanding capacity in the United States. That deals a hand in both of the company’s core segments: solar and semiconductors.
At Friday’s close of €7.58, the stock sits just 3.3% below its 52-week high of €7.84. The relative strength index reads 68.8, and with annualized volatility of 84%, every update from the solar partnership is liable to shake the price. The identity of the buyer of Triumph’s block could provide the next big catalyst — until then, the market is betting on a partnership that has yet to deliver its full volume.
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Singulus Stock: New Analysis - 27 June
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