研报掘金丨东莞证券：豪威集团Q2营收创历史新高，维持“买入”评级

Core Viewpoint - The report from Dongguan Securities indicates that OmniVision Technologies achieved record-high revenue in Q2, with steady penetration in downstream application markets [1] Group 1: Revenue Growth - The company's image sensor products are expected to continue penetrating markets such as automotive intelligent driving, panoramic, and action cameras, driving sustained revenue growth [1] - Revenue from the automotive market is projected to reach approximately 5.905 billion yuan in 2024, representing a year-on-year increase of about 29.85% [1] - The smartphone sector is entering its traditional peak season in the second half of the year, with expectations for widespread adoption of main camera, telephoto, and ultra-wide-angle models in Android flagship devices [1] Group 2: Management Efficiency - Alongside revenue growth, the company has also improved management efficiency, effectively promoting net profit growth and releasing profitability [1] Group 3: Emerging Application Markets - New application areas such as panoramic and action cameras are experiencing rapid growth, with the global action camera market projected to reach a CAGR of 14.5% from 2017 to 2023, and an expected market size of 51.35 billion yuan by 2027, with a CAGR of 13.0% from 2023 to 2027 [1] - The rapid growth of the action camera market is anticipated to drive demand for upstream CIS [1]