Group 1 - The core viewpoint of the report is that Huiju Technology (01729) is expected to achieve significant revenue and profit growth in the coming years, driven by strong demand in the data center and server markets, with projected revenues of HKD 112 billion, 161 billion, and 209 billion for 2025, 2026, and 2027 respectively, and net profits of HKD 7.40 billion, 12.50 billion, and 17.50 billion for the same years, corresponding to P/E ratios of 47.3, 28.0, and 20.0 times [1] - The company completed a placement of 108 million shares at HKD 15.22 per share, raising approximately HKD 1.6345 billion, which will be used for strategic investments, global business development, and working capital [2][3] Group 2 - The company is focusing on both organic and external growth strategies, including vertical integration to strengthen supply chain control and horizontal integration to align with core capabilities, particularly in high-growth sectors like medical technology [3] - The company is positioned as a core supplier for Google MPO, with expected growth driven by AI computing demand, automotive sector integration, and increasing healthcare market needs due to aging populations and health awareness [4] - The company is part of the Luxshare ecosystem, with strong positioning in the MPO optical communication and AI server markets, and is expected to become a leading global automotive cable supplier following the successful acquisition of Leoni [4]
招商证券:维持汇聚科技(01729)“强烈推荐”评级 战略投资及海外扩张加速