Core Viewpoint - Zhaoyin International reported that Q Technology (01478) achieved a net profit growth of 168% in the first half of the year, aligning with previous profit warnings, primarily driven by a 27% increase in average selling price of camera modules (CCM), a rise in non-mobile business sales proportion to 24%, and improved profitability from its associate company, New Giant Technology [1] Financial Performance - Q Technology's net profit increased by 168% in the first half of the year [1] - The average selling price of camera modules (CCM) rose by 27% [1] - Non-mobile business sales accounted for 24% of total sales [1] Earnings Forecast - Zhaoyin International raised Q Technology's earnings per share forecast for 2025 to 2027 by approximately 10% to 12% [1] - The target price for Q Technology was increased from HKD 13.21 to HKD 14.5 [1] - The "Buy" rating was reaffirmed by Zhaoyin International [1] Business Outlook - Management has raised the annual shipment guidance, with non-mobile CCM growth expectations increased from over 40% to over 60% [1] - Zhaoyin International expressed optimism about the growth potential in Q Technology's non-mobile businesses, including drones, automotive, and XR [1] - The collaboration with India's Dixon Group is expected to mitigate the impact of uncertainties related to U.S. tariffs [1]

Core Viewpoint - Zhaoyin International's research report indicates that Q Technology's net profit increased by 168% in the first half of the year, aligning with previous profit warnings, primarily benefiting from a 27% rise in average selling prices of camera modules (CCM) and an expansion of non-mobile business sales to 24% of total sales [1] Group 1 - Q Technology's management has raised its full-year shipment guidance, with the growth expectation for non-mobile CCM increased from over 40% to over 60% [1] - The report expresses optimism regarding the growth potential of Q Technology's non-mobile businesses, including drones, automotive, and XR [1] - Collaboration with India's Dixon Group is expected to mitigate the impact of uncertainties related to U.S. tariffs [1] Group 2 - Based on better-than-expected average selling prices and gross margins for the first half of the year, Zhaoyin International has raised its earnings per share forecast for Q Technology for 2025 to 2027 by approximately 10% to 12% [1] - The target price for Q Technology has been adjusted from HKD 13.21 to HKD 14.5, with a reiterated "Buy" rating [1]

丘钛科技(01478)涨超11%，截至发稿，涨11.52%，报15.1港元，成交额1.79亿港元。 消息面上，丘钛科技近日公布业绩，上半年收益88.32亿元，同比增长15.1%；纯利3.08亿元，同比增长 167.6%；每股盈利26分。派中期息15港仙，为集团上市以来首度派中期息。公司表示，溢利增加主要 是由于营业收入较同期稳健增长、毛利率按年提升，以及联营公司新巨科技的经营业绩由亏转盈。多家 机构调升公司目标价，中金表示，由于非手机收入增速超预期，且中长期成长业务布局全面，上调目标 价67%至14.97港元。中银国际则维持对丘钛科技的"买入"评级，将目标价由11.6港元上调至16.4港元。 招银国际指出，看好丘钛科技在2025下半年盈利预测上调的趋势，相信市场低估丘钛科技在非手机市场 的领导地位和销售成长势头(特别是无人机和360全景相机)。总体而言，持续看好丘钛科技在非手机业 务(无人机/汽车/扩展现实XR)的增长潜力，并预计在美国在关税存在不确定性的背景下，其与印度 Dixon Group设立的合资公司将推动摄像头模组出货量增长。 ...