丘钛科技：FY25 in-line; Positive outlook on CCM share gain and drone／auto／XR momentum-20260317

17 Mar 2026 CMB International Global Markets | Equity Research | Company Update Q-Tech (1478 HK) Q-Tech (1478 HK) - FY25 in- FY25 in-line; Positive outlook on CCM share gain momentum and drone/auto/XR momentum Q-Tech posted FY25 revenue/NP growth of 29%/435% YoY, in-line with prior profit alert, mainly driven by non-handset CCM (+171% YoY, 27% of CCM sales), mobile CCM ASP hike (+20% YoY), disposal gain in India and Newmax operating improvement. Looking into 2026, we are positive on mgmt. guidance: 1) hands ...