丘鈦科技 (集團) 有限公司 Q Technology (Group) Company Limited (Incorporated in the Cayman Islands with limited liability) (於開曼群島註冊成立的有限公司) Stock Code 股份代號：1478 Annual Report 126年報 21 15000 12500 Climate-contrpl Run of Kilometers c 12.02 11.13 18.02 0 04:00 Tire Pressure 15:00 01:00 FRONT LEFT BACK LEFT 0000 Contents 目錄 | --- | --- | --- | --- | --- | --- | |------------------------------------------------|----------------------------|-------|-------|-------|-------| | | | | | | 目錄 | | | | | | | | | Corporate Informat ...

11 Apr 2024 Earnings Summary CMB International Global Markets | Equity Research | Company Update Q-Tech (1478 HK) 1Q24 shipment rebound on track; Auto & IoT as next growth drivers We recently spoke to Q-Tech's mgmt. and we maintain our positive view on high-end Android recovery to drive ASP/shipment upside in FY24E. Q-tech also expected GPM improvement in 1H24E thanks to better product mix and easing competition. For 1Q24, Q-Tech posted impressive growth of 23%/179% YoY in mobile/non-mobile CCM shipment, th ...

香港交易及結算所有限公司及香港聯合交易所有限公司（「聯交所」）對本公告的內容概不負 責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份 內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 Q TECHNOLOGY (GROUP) COMPANY LIMITED 丘鈦科技(集團)有限公 司 （於開曼群島註冊成立的有限公司） （股份代號：1478） 截至二零二三年十二月三十一日止年度 全年業績公告 | --- | --- | |-------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ...

Investment Rating - The report assigns a "Buy" rating to the company with a target price of HKD 3.76, indicating a potential upside of 20% from the current price of HKD 3.13 [1][40]. Core Insights - The global smartphone industry is showing signs of recovery, with a positive growth of 8% year-on-year in Q4 2023, following a prolonged period of decline due to slow technological innovation and extended replacement cycles [4][19]. - The integration of AI technology in smartphones is expected to revolutionize user interaction, creating new market opportunities. Major manufacturers like Samsung and others are already implementing AI features in their products, which is anticipated to drive industry growth [5][20][24]. - The company is focusing on high-end optical modules, which have shown significant revenue elasticity. The shipment of high-resolution camera modules is increasing, with a notable rise in the proportion of modules with 32 million pixels and above [6][33]. Summary by Sections Company Overview - The company, Q Technology (Group) Co., Ltd. (stock code 1478.HK), is a leading manufacturer of mid-to-high-end camera modules and fingerprint recognition modules for smart mobile devices, IoT, and smart automotive applications [14]. Global Smartphone Demand Recovery - The smartphone replacement cycle has extended from 2 years to over 3 years, but the aging of devices is driving an increase in replacement demand. The total global smartphone shipments for 2023 are estimated at 1.14 billion units, with a year-on-year decline of only 4% [4][18][19]. AI Technology Impact - AI is expected to enhance smartphone interaction significantly, with predictions that 5% of smartphone shipments will be AI-enabled by 2024, rising to 45% by 2027. This shift is anticipated to stimulate demand for new devices [5][28]. Company Focus on High-End Camera Modules - The company's camera module shipments for H1 2023 were 167 million units, down 20.8% year-on-year, but are expected to recover in H2 2023 with a smaller decline of 3.2%. The proportion of high-end modules is increasing, reaching 49% in early 2024 [6][32][33]. Financial Forecast and Valuation - Revenue projections for the company from 2023 to 2025 are RMB 12.46 billion (-9.5%), RMB 14.17 billion (+13.7%), and RMB 16.56 billion (+16.9%), with net profits expected to rebound significantly in 2024 [7][38].

智通财经APP获悉，丘钛科技(01478)午后涨超6%，截至发稿，涨5.43%，报3.3港元，成交额1246.59万 港元。 消息面上，丘钛科技公布，今年2月摄像头模组销售数量为2869.8万件，同比增长7.3%，主要是由于智 能手机市场需求回升，及集团于中高端摄像头模组产品及车载摄像头模组产品的业务发展良好；而销量 环比下降28.2%，则主要是由于春节假期因素。其中，手机摄像头模组销量为2,795.6万件，同比增加 6.1%，环比则跌28.2%。 招银国际此前发布研报称，将丘钛科技目标价从3.6港元上调4%至3.74港元，维持"买入"评级，认为该 股极具吸引力。集团1月出货量复苏强劲，超出预期。该行看好2024年上半年高阶智慧型手机需求复 苏；考虑到2023年盈警及出货量修复，将2024/25年财年每股盈利预测下调33及36%，预计分别年增 283%及39%。 ...

| --- | --- | --- | --- | --- | --- | --- | |-------|--------------------------------|-------------------------------------------------------------|-------|-------|-------|-------| | | | | | | | | | | 丘钛科技(集團)有限公司 | | | | | | | | | Q Technology (Group) Company Limited | | | | | | | (於開曼群島註冊成立的有限公司) | (Incorporated in the Cayman Islands with limited liability) | | | | | | | Stock Code 股份代號 : 1478 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ...

香港交易及結算所有限公司及香港聯合交易所有限公司（「聯交所」）對本公告的內容概不負 責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份 內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 1 Q TECHNOLOGY (GROUP) COMPANY LIMITED 丘鈦科技(集團)有限公 司 （於開曼群島註冊成立的有限公司） （股份代號：1478） 截至二零二三年六月三十日止六個月 中期業績公告 | --- | --- | |-------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ...

丘鈦科技（集團）有限公司 Q Technology (Group) Company Limited (Incorporated in the Cayman Islands with limited liability) (於開曼群島註冊成立的有限公司) Stock Code 股份代號：1478 Annual Report e O Contents 目錄 Contents Corporate Information 公司資料 2 Corporate Profile 公司介紹 5 Five-Year Financial Summary 五年財務概要 6 Chairman's Statement 主席報告 9 Management Discussion and Analysis 管理層討論與分析 24 Biographical Details of Directors and Senior Management 董事及高級管理層之履歷詳情 38 Directors' Report 董事會報告 46 Corporate Governance Report 企業管治報告 84 Environmental, Social ...