Core Viewpoint - Zhaoyin International's research report indicates that Q Technology's net profit increased by 168% in the first half of the year, aligning with previous profit warnings, primarily benefiting from a 27% rise in average selling prices of camera modules (CCM) and an expansion of non-mobile business sales to 24% of total sales [1] Group 1 - Q Technology's management has raised its full-year shipment guidance, with the growth expectation for non-mobile CCM increased from over 40% to over 60% [1] - The report expresses optimism regarding the growth potential of Q Technology's non-mobile businesses, including drones, automotive, and XR [1] - Collaboration with India's Dixon Group is expected to mitigate the impact of uncertainties related to U.S. tariffs [1] Group 2 - Based on better-than-expected average selling prices and gross margins for the first half of the year, Zhaoyin International has raised its earnings per share forecast for Q Technology for 2025 to 2027 by approximately 10% to 12% [1] - The target price for Q Technology has been adjusted from HKD 13.21 to HKD 14.5, with a reiterated "Buy" rating [1]
大行评级｜招银国际：上调丘钛科技目标价至14.5港元 看好非手机业务的增长潜力