Core Viewpoint - Zhongyin International's report indicates that AAC Technologies (02018) experienced an 18% year-on-year revenue growth to 13 billion RMB, with a gross margin of 20.7% and a significant net profit increase of 62% to 871 million RMB. The management's optimistic guidance for the second half of the year exceeds market expectations, anticipating a strong quarterly rebound in gross margin due to the launch of several high-end projects and a substantial recovery in operational leverage [1] Group 1 - The target price for AAC Technologies has been slightly raised from 62.6 HKD to 62.9 HKD, maintaining a price-to-earnings ratio of 22 times for the 2026 forecast, with a "Buy" rating upheld [1] - The company is expected to benefit from its leading position in acoustic and haptic technology, as well as successful advancements in optical and precision structural components over the years [1] - The integration of AAC Technologies' capabilities across optical, acoustic, and structural components is projected to facilitate rapid expansion in emerging markets such as automotive, XR, and robotics [1]

该行表示，因公司下半年指引及其在声学与触感领域的技术领先地位保持乐观看法，同时瑞声科技在光 学及精密结构件领域的多年拓展也取得有成效的进展。该行预计，随着瑞声科技完成光学、声学与结构 件的全平台能力整合，将有利于其在汽车、XR及机械人等新兴市场的快速拓展。 智通财经APP获悉，中银国际发布研报称，瑞声科技(02018)上半年收入同比增长18%至130亿元人民 币，毛利率20.7%，净利润同比大幅增长62%至8.71亿元人民币。管理层对下半年的乐观指引超市场预 期，预计随着多个高端项目投产及下半年营运杠杆大幅回升，毛利率将实现强劲按季反弹。该行将瑞声 科技目标价由62.6港元小幅上调至62.9港元，对应2026年预测市盈率22倍不变，维持"买入"评级，看好 AI赋能设备与多元化驱动长期增长。 ...