Core Viewpoint - Moody's has confirmed AAC Technologies Holdings Inc.'s "Baa3" issuer rating and senior unsecured debt rating, upgrading the outlook from stable to positive, reflecting the company's leading position in acoustic and haptic components, improving business diversification, and strong financial metrics [1] Group 1: Financial Performance and Projections - Moody's expects AAC Technologies' revenue to grow approximately 10% annually over the next 12-18 months, driven by a strong product portfolio and increasing customer penetration [1] - The EBITDA margin is projected to remain around 19% in 2024, with adjusted debt to EBITDA ratio expected to decrease to approximately 2.0 times by the end of 2025 due to increasing EBITDA and stable debt levels [1] Group 2: Business Segments - In the optical business, AAC Technologies has established itself as a key supplier, with significant contributions expected from high-end products and improved operational efficiency over the next 12-18 months [2] - The optical business has achieved a CAGR of 36% from 2019, with revenue projected to exceed 5 billion RMB in 2024, and global shipments of unique WLG glass-plastic hybrid lenses expected to reach millions [2] - The automotive acoustic business is also growing rapidly, with projected revenue of 3.52 billion RMB and a gross margin of 24.8%, with products widely used by both traditional and luxury car brands [3] - AAC Technologies has completed the second tranche of share acquisition for PSS, which is now an indirect wholly-owned subsidiary [3]

Core Viewpoint - Moody's has confirmed AAC Technologies Holdings Inc.'s "Baa3" issuer rating and senior unsecured debt rating, upgrading the outlook from stable to positive, reflecting the company's leading position in acoustic and haptic components, improving business diversification, and strong capital structure and liquidity [1] Group 1: Financial Performance and Projections - Moody's expects AAC Technologies' revenue to grow approximately 10% annually over the next 12-18 months, driven by a strong product portfolio and increasing customer penetration [1] - The EBITDA margin is projected to remain around 19% in 2024, with the adjusted debt-to-EBITDA ratio expected to decrease to about 2.0 times by the end of 2025 due to increasing EBITDA and stable debt levels [1] Group 2: Business Segments - In the optical business, AAC Technologies has established itself as a key supplier, with significant contributions expected from high-end products and improved operational efficiency over the next 12-18 months [2] - The automotive business is benefiting from synergies gained from the acquisition of Premium Sound Solutions (PSS), enhancing product diversification and market exposure [2] - The optical business has achieved a CAGR of 36% since 2019, with revenue expected to exceed 5 billion RMB in 2024, and the company ranks among the top three globally in optical lens shipments [2] - The automotive acoustic business is also experiencing rapid growth, with projected revenue of 3.52 billion RMB and a gross margin of 24.8% in 2024, with products widely used by both traditional and luxury car brands [3]

智通财经APP讯，瑞声科技(02018)发布公告，有关建议收购Acoustics Solutions International B.V.的公 布。建议交易事项的第二批次完成已于2025年7月31日按照买卖协议的条款进行。第二批次购买价按股 东协议厘定，而第二批次股份的总购买价为 1.286亿美元连同利息。在第二批次完成后，目标公司成为 本公司的间接全资附属公司。 ...

瑞声科技(02018)发布公告，有关建议收购Acoustics Solutions International B.V.的公布。建议交易事项的 第二批次完成已于2025年7月31日按照买卖协议的条款进行。第二批次购买价按股东协议厘定，而第二 批次股份的总购买价为1.286亿美元连同利息。在第二批次完成后，目标公司成为本公司的间接全资附 属公司。 ...

格隆汇7月31日丨瑞声科技(02018.HK)发布公告，就收购ACOUSTICS SOLUTIONS INTERNATIONAL B.V.股份事项，建议交易事项的第二批次完成已于2025年7月31日按照买卖协议的条款进行。第二批次 购买价按股东协议厘定，而第二批次股份的总购买价为1.286亿美元连同利息。在第二批次完成后，目 标公司成为公司的间接全资附属公司。 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公佈的內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示概不就因本公佈全部或任何 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 。 承董事會命 瑞聲科技控股有限公司 主席 張宏江 香港，2025年7月31日 於本公佈日期，董事會成員為潘政民先生、莫祖權先生及吳春媛女士，以及三位 獨立非執行董事張宏江先生、郭琳廣先生及彭志遠先生。 收購ACOUSTICS SOLUTIONS INTERNATIONAL B.V. 第二批次完成 謹此提述瑞聲科技控股有限公司（「本公司」）2023年8月10日有關建議收購Acoustics Solutions International B.V.之公佈、本公司2024年1月18日之通函（「該通函」）、本 公司2024年2月6日有關股東特別大會投票表決結果及達成該等條件之公佈以及本 公司2024年2月9日之第一批次完成公佈。除文義另有所指外，本公佈所用詞彙與 該通函所界定者具有相同涵義。 董事會欣然宣佈，建議交易事項之第二批次完成已於2025年7月31日按照買賣協議 之條款進行。第二批次購買價按股東協議釐定， ...

高盛就保诚(02378.HK)发布研报称，预计保诚第二季新业务利润增长将加快，同比增长15%，上半年经 营自由盈余总额将录强劲增长。高盛微调预测，将H股目标价由147港元下调至134港元，重申"买入"评 级。预计香港市场将成为主要增长动力，中期而言，自2027财年起，保诚可达到40%或以上的OFSG分 派率，并将继续上升。 瑞银华宝：维持恒瑞医药买入评级 目标价87.3港元 智通财经7月31日讯(编辑 童古 汤赞淇)以下为各家机构对港股的最新评级和目标价: 交银国际：维持理想汽车中性评级 目标价103.7港元 交银国际就理想汽车(02015.HK)发布研报称，该公司新车型理想i8定价虽然优于预期，但在配置上较消 费者的预期或有落差，同时下半年有多款30万元级别六座SUV新车型上市，该价格带将成为红海市场。 该行维持全年销量预测56万辆，较2024年增长10.7%。 高盛：维持保诚买入评级 下调目标价至134港元 摩根大通：维持老铺黄金增持评级 目标价1249港元 摩根大通就老铺黄金(06181.HK)发布研报称，该公司新开精品店表现强劲，预计2025年下半年势头将持 续，受品牌价值、产品创新及市场对"国牌"的 ...

该信息由智通财经网提供 智通财经APP获悉，招银国际发布研报称，将瑞声科技(02018)2025至27年每股盈利预测上调8%至 12%，主要反映光学和精密结构件业务增长超出预期，以及光学产品盈利能力改善，目标价由58.78港 元升至63.54港元，维持"买入"评级。 该行预期瑞声科技上半年收入及净利润分别同比增长24%及 66%，主要由美国主要客户的声学及触觉产品规格升级、散热产品订单增加、汽车声学客户订单获取， 以及光学业务盈利能力改善所推动。展望今年下半年及2026年，凭藉在多条产品线的技术领先优势，该 行认为瑞声科技已具备充分条件，能把握AI手机、AI眼镜、车用声学和光学产品，以及机械人等领域 的新商机和规格升级趋势。 ...

Group 1: Market Overview - The Hang Seng Index (HSI) is expected to continue rising to 25,800-26,000 next week, with a support level at 24,600 and a resistance level at 25,894 [1] - Technical signals indicate a "strong buy" for the semiconductor sector, with a potential price target of 56-60 HKD for SMIC [3] - China Southern Airlines has recently broken through its previous high, with a key resistance level at 6.19 HKD [6] Group 2: Individual Stock Analysis - Ganfeng Lithium is showing a gradual upward trend, with a support level at 27 HKD and a resistance level at 33.6 HKD, potentially reaching 35 HKD [9] - Alibaba's stock is currently viewed as a buying opportunity, with a target of 130 HKD and support levels at 112.3 HKD and 105.7 HKD [12] - AAC Technologies has a neutral technical signal, with resistance levels at 41.2 HKD and 42.5 HKD, indicating a lack of clear direction [15]

Group 1 - The 2025 Fortune China 500 list includes 38 companies from Shenzhen, such as Huawei, AAC Technologies, BYD, and Ping An [1] - The list is based on the same methodology as the Fortune Global 500, covering both listed and unlisted companies, providing insights into the latest development trends of China's largest enterprises [1] Group 2 - Among the top ten most profitable companies, Tencent and Ping An, both private enterprises from Shenzhen, achieved significant net profit growth, with Tencent's net profit exceeding $26.9 billion, a year-on-year increase of over 65%, ranking 6th in profitability [3] - Ping An ranked 10th in the profitability list, showcasing strong financial performance [3] - AAC Technologies reported a record revenue of 27.33 billion RMB in 2024, with a net profit of 1.797 billion RMB, reflecting a year-on-year growth of 142.7% [3] - AAC Technologies leads in multiple sectors, including micro-acoustics and precision optics, and has been recognized as a "Manufacturing Single Champion" by the Ministry of Industry and Information Technology [3] - The total revenue of the 500 companies on the list is projected to reach $14.2 trillion in 2024, with a net profit of $756.4 billion, representing a growth of approximately 7% compared to the previous year [3] - In dollar terms, China's GDP is expected to reach $18.75 trillion in 2024, with the combined revenue of the 500 companies accounting for about three-quarters of the country's GDP [3]