Core Viewpoint - Hillstone Technology (01478) experienced a decline of over 5%, with a current price of HKD 9.07 and a trading volume of HKD 77.66 million, following the release of its shipment data for December and the full year [1] Group 1: Shipment Data - In December, the shipment of mobile camera modules increased by 13.2% month-on-month, with a total annual shipment of 435 million units, representing a year-on-year growth of 6%, which was better than the previous estimate of a 3.2% decline by Citigroup [1] - The shipment of camera modules with 32 million pixels and above saw a month-on-month decrease of 0.9% and a year-on-year decrease of 11%, resulting in an annual share of 48%, which is below the company's guidance of 55% [1] Group 2: Non-Mobile Segment Performance - The shipment volume of non-mobile camera modules experienced a significant year-on-year increase of 111%, primarily driven by strong performance in the automotive sector and robust demand in the Internet of Things (IoT), exceeding the company's guidance of 60% year-on-year growth [1] Group 3: Financial Projections - Citigroup has revised down its shipment and gross margin assumptions for Hillstone Technology's mobile camera modules and fingerprint recognition modules for 2026, reflecting the impact of a weak smartphone market [1] - The earnings per share forecasts for 2026 and 2027 have been reduced by 17% and 15%, respectively, but the company is still expected to achieve a net profit of over RMB 1 billion in 2026, driven by its non-mobile business [1]
丘钛科技午后跌超5% 全年3200万像素及以上摄像头模组占比低于指引