Core Viewpoint - 招银国际's report indicates that 鸿腾精密's Q2 performance aligns with expectations, with revenue and net profit increasing by 9% and 13% year-on-year respectively [1] Group 1: Financial Performance - 鸿腾精密's revenue and net profit for Q2 increased by 9% and 13% year-on-year [1] - The company's strategic cloud and automotive sectors accounted for 36% of quarterly sales, with year-on-year growth of 28% and 115% respectively [1] Group 2: Strategic Outlook - The management's acceleration in business transformation during Q2 is viewed positively [1] - Despite lowering guidance for smartphones, consumer internet, and system products due to tariffs and macro uncertainties, the outlook remains positive for cloud and AI server products and AirPod production [1] Group 3: Earnings Forecast and Target Price - The earnings per share forecast for the company has been reduced by 5% to 15% for the years 2023 to 2027, reflecting the performance in the first half of the year and new business guidance [1] - The target price has been raised from HKD 3.48 to HKD 4.96, corresponding to a projected P/E ratio of 16 times for next year, with a "buy" rating maintained [1]
大行评级｜招银国际：鸿腾精密第二季业绩符合预期 上调目标价至4.96港元
Ge Long Hui·2025-08-15 07:31