近日，豪威集团发布公告称，公司控股股东虞仁荣计划将于2025年10月29日至2026年1月28日期间，通 过大宗交易方式减持公司股份不超过2400万股，减持比例合计不超过公司股份总数的1.99%。 据了解，虞仁荣此次减持的原因是为归还借款并降低质押率。 分业务来看，图像传感器解决方案贡献收入103.46亿元，占总营收比重的74.21%，较上年同期增加 11.10%，主要得益于汽车电子、全景、运动相机等新兴领域需求的增长。 数据显示，截至9月26日，虞仁荣及其一致行动人累计质押股份1.98亿股，占其持有股份的48.54%及公 司总股本的16.44%，股权质押率处于较高水平。其中，未来半年内到期的质押股份2538万股，对应融 资余额为11亿元；未来一年内到期的质押股份约1.1亿股，对应融资余额55.58亿元。 其中，汽车CIS业务的收入为37.89亿，同比增长30.04%。据其港股上市招股书显示，豪威科技在2024年 全球汽车CIS市场市占率达32.9%，并有望在2024-2026年持续提升在汽车CIS市场市占率。 此次减持也并非是虞仁荣首次减持豪威集团。自2021年1月至今，虞仁荣已累计减持3890万股股份。截 ...

Core Viewpoint - OmniVision Group, formerly known as Weir Shares, is a fabless semiconductor design company that has submitted an application for a Hong Kong IPO, joining a list of A-share companies with a market capitalization exceeding 100 billion RMB [1] Company Background - Founded in 2007 by Yu Renrong, Weir Shares primarily engaged in semiconductor distribution and design, and was listed on the Shanghai Stock Exchange in May 2017 [2] - The acquisition of OmniVision Technologies in August 2019 allowed Weir Shares to enter the CMOS image sensor (CIS) market, significantly increasing its design business revenue [3] - Following the acquisition, Weir Shares rebranded as OmniVision Group in June 2025, with revenue reaching 25.707 billion RMB in 2024, of which 19.190 billion RMB (74.65%) came from image sensor solutions [4] Market Opportunities - The global CIS market is highly concentrated, with the top five players holding 84.1% of the market share; OmniVision Group ranks among the top three with a market share of 13.7% in 2024 [6] - The smartphone sector is the largest application area for CIS, accounting for over 65% of the market, while the automotive sector is the fastest-growing application area [6] - OmniVision Group is the largest player in the automotive CIS market, holding a 32.9% market share, benefiting from the rising penetration of smart vehicles in China [7] - The company is also making progress in medical, security, machine vision, and smart glasses sectors, positioning itself to capture growth in these rapidly developing areas [8]

Investment Rating - The report assigns a "Buy" rating for the company, indicating a potential upside in the stock price [8][10]. Core Insights - The company is expected to achieve a revenue growth of 22.4% in 2024, reaching RMB 257.3 billion, with a net profit increase of 498.1%, amounting to RMB 33.2 billion [10]. - The growth is driven by increased demand for CIS in mobile phones and automotive sectors, alongside continuous optimization of the product structure [8][10]. - The company’s gross margin is projected to improve by 7.7 percentage points to 29.4% in 2024 [10]. Summary by Sections Company Overview - The company operates in the electronics industry, with a current stock price of RMB 124.22 and a market capitalization of RMB 151.17 billion [2]. Recent Ratings - Recent ratings include "Buy" on multiple occasions, with the latest rating on August 19, 2024, at a closing price of RMB 89.7 [3]. Financial Performance - In 2024, the company is forecasted to generate revenue of RMB 257.3 billion, with a net profit of RMB 33.2 billion, resulting in an EPS of RMB 2.77 [10][12]. - The company’s revenue from image sensor solutions is expected to be RMB 192 billion, with mobile CIS revenue at RMB 98 billion and automotive CIS revenue at RMB 59 billion [10]. Profit Forecast - The net profit projections for 2025, 2026, and 2027 are RMB 43.4 billion, RMB 55.7 billion, and RMB 66.3 billion, respectively, with corresponding EPS of RMB 3.57, RMB 4.59, and RMB 5.46 [10][12]. Valuation Metrics - The company is currently valued at a PE ratio of 23 times for 2027, indicating a favorable valuation compared to its growth prospects [10][12].