招银国际给予瑞声科技(02018.HK)"买入"评级，看好AI浪潮下的硬件升级机遇

Core Viewpoint - 招银国际 has issued a "buy" rating for 瑞声科技, highlighting the company's potential to benefit from the upcoming wave of upgrades in the consumer electronics industry driven by the explosion of AI computing power and innovations in edge AI hardware [1] Industry Summary - The core growth driver for the technology sector by 2026 is expected to be the restructuring of AI hardware and innovations in edge AI [1] - The proliferation of AI smartphones will raise demands for acoustic, optical, sensor, and thermal module specifications, while the rise of smart glasses will initiate a new wave in wearable devices [1] Company Summary - 瑞声科技 holds a leading position in acoustic, optical, MEMS sensors, and VC thermal plates, positioning the company to benefit from the anticipated increase in volume and pricing due to these trends [1] - The company's non-mobile business expansion is also noteworthy, with its automotive acoustic solutions successfully penetrating domestic flagship models and the European market, leading to a continuous increase in global market share [1] - In the emerging AR/VR sector, 瑞声科技's optical waveguide components have secured customer project designations, and its MEMS sensor business is experiencing rapid growth driven by AI, with new businesses like robotic dexterous hands entering large-scale production [1] - These diversified layouts are expected to form significant engines for the company's future growth [1] - Based on the strong momentum from AI-driven upgrades in consumer electronics and multiple business lines, 招银国际 is optimistic about 瑞声科技's long-term growth potential and maintains a "buy" rating [1]