Nameson Holdings | 1982.HK | --- | --- | --- | --- | --- | |-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ...

Sunny Optical | 2382.HK Sunny's 1H24 result was ahead of market consensus, with revenue and net income came in at RMB14,279mn/1,079mn respectively (+32.1%/+147%Yoy), (12.4%/14.3% above consensus), Sunny's net income arrived at the high-end of the profit alert (+140-150% Yoy) in endJul. Sunny's 1H24 net profit reached 60% of our FY24E estimates. We attributed Sunny's result beat to the following factors: i) smartphone end demand gradual recovery (esp. flagship models), which drove volume shipment, ASP and GM ...

AAC Technologies | 2018.HK | --- | --- | --- | --- | |----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------------------------|-----------|-------------------------| | | Rating | BUY | Upgrade | | Improved earnings visibility favours re-rating | Target Price | HK$ 37.24 | | | | Current price | HK$ 31.25 | Upside: +19.2% | | 1H24 net pr ...

Q Tech Group | 1478.HK China Puti 1H24 in-line with profit alert, thanks to GM improvement and stable OPEX ratio QT's 1H24 net profit arrived at near the mid-point of the profit alert (issued in mid-Jul), revenue and net profit each soared 40.1%/453.9% Yoy to RMB7,675mn/RMB115mn, and reached 51%/38% of market FY24E consensus. The robust 1H24 result was attributed to i) improved smartphone demand led to CCM shipment volume and QT's market share increase in global smartphone OEMs; ii) Though GM a slight miss ...

China Puti FLASH NOTE 8 May 2024 Fundamentals Expects better 2HFY24 on client's fast order ; Net gearing ratio further declined ◼ The sales drop in 1HFY24 was mainly driven by ASP (-12.9% Yoy,in HKD terms) in knitwear as a result of higher sales volume of normal knitwear and whole garment with lower ASP, while mutually agreed price adjustment for whole garment products caused a drag on ASP. Nevertheless, we noticed that normal knitwear ASP managed to grow 10.6% HoH (based on our calculation) in 1HFY24, we b ...

L Page 2 / 7 Source: Company data, CIRL estimates | --- | --- | --- | --- | --- | --- | --- | --- | --- | |----------------------------------------------------|--------|--------|-------|--------|--------|-------|-------|-------| | Exhibit 2: Key assumptions \nYear to Dec (HK$ mn) | FY19A | FY20A | FY21A | FY22A | FY23A | FY24E | FY25E | FY26E | | Segment Revene | | | | | | | | | | Mold fabrication | 591 | 700 | 706 | 606 | 620 | 657 | 683 | 718 | | Plastic components manufacturing | 1,720 | 1,333 | 1,698 | ...

BYD Electronic | 285.HK Rating BUY Maintain 1Q24 result in-line, AI exposure next to watch Target HKD 41.35 P Cri uce rr ent HKD 27.10 Upside: +54.3% 1Q24 result in-line, e arnings backend loaded Comppraicen y U pdate % BYDE’s 1Q24 result was largely in-line and on track to FY24E consensus, with revenue and net profit each grew 38.5%/33% to 3 May 2024 RMB36.5bn and RMB610mn respectively thanks to Jabil Singapore (Jabil) consolidation, while GM was largely flattish QoQ at 6.9%, Hayman Chiu despite a 0.8ppt d ...

Sunny Optical | 2382.HK Rating BUY Maintain Short term pain, long term gain Target Price HKD 49.37 From: HK$74.94 Current price HKD 37.45 Upside:+31.8% FY23 result a miss, de -spec and interest cost weigh on earnings Company Update S unny’s FY23 result disappoints market, with revenue and net income came in at RMB31,681mn/1,099mn respectively (-4.6%/-54.3%Yoy). Sunny’s topline was ~2% below Bloomberg consensus and our estimates, 18 April 2024 while net income arrived at the low-end of the profit warning ale ...

An ta Sports | 2020.HK Rating BUY Maintain Multi-branded strategy drives quality growth Target price HK$128.8 C Cuu rr rr ee nn t price HK$85.15 Upside: +51.3% Curren ◼ FY23 results above e xpectation: Company Update Anta announced FY23 results on 26th Mar with revenue and net profit arrived at 15 Apr 2024 RMB62.4bn and RMB10,236m, up 16.2%/34.9% YoY. The strong earnings growth was mainly driven by higher store productivity, disciplined retail discount and higher interest Hugo Suen income. And they declared ...

Li Ning | 2331.HK Rating BUY Maintain Operating quality to drive earnings growth Target price HK$29 .40 C Cuu rr rr ee nn t price HK$21.25 Upside: +38.4% Curren FY23 results met exp ectations Company update Li Ning (LN) FY23 results on 20th Mar with revenue and net profit of RMB27.6bn (+7% YoY) and RMB3,187mn (-21.6% YoY) respectively. And they declared a final dividend of 22 Mar 2024 RMB19cents, implying dividend payout ratio reached 45% (FY22: 30%). We joined their post result presentation, management pro ...