Core Viewpoint - Zhaoyin International reported that Q Technology (01478) achieved a net profit growth of 168% in the first half of the year, aligning with previous profit warnings, primarily driven by a 27% increase in average selling price of camera modules (CCM), a rise in non-mobile business sales proportion to 24%, and improved profitability from its associate company, New Giant Technology [1] Financial Performance - Q Technology's net profit increased by 168% in the first half of the year [1] - The average selling price of camera modules (CCM) rose by 27% [1] - Non-mobile business sales accounted for 24% of total sales [1] Earnings Forecast - Zhaoyin International raised Q Technology's earnings per share forecast for 2025 to 2027 by approximately 10% to 12% [1] - The target price for Q Technology was increased from HKD 13.21 to HKD 14.5 [1] - The "Buy" rating was reaffirmed by Zhaoyin International [1] Business Outlook - Management has raised the annual shipment guidance, with non-mobile CCM growth expectations increased from over 40% to over 60% [1] - Zhaoyin International expressed optimism about the growth potential in Q Technology's non-mobile businesses, including drones, automotive, and XR [1] - The collaboration with India's Dixon Group is expected to mitigate the impact of uncertainties related to U.S. tariffs [1]
招银国际：升丘钛科技(01478)目标价至14.5港元 看好非手机业务增长潜力