Core Viewpoint - AAC Technologies (02018) has seen a nearly 7% increase in stock price, currently trading at 50.5 HKD, with a trading volume of 643 million HKD, ahead of its mid-year earnings announcement scheduled for August 21 [1] Group 1: Financial Performance Expectations - According to CMB International, AAC Technologies is expected to report a year-on-year revenue growth of 24% and a net profit growth of 66% for the first half of the year, driven by upgrades in acoustic and haptic product specifications from major US clients, increased orders for thermal products, acquisition of automotive acoustic client orders, and improved profitability in optical business [1] - Bank of America Securities indicates that AAC Technologies is benefiting from the upgrade of smartphone component specifications and an improved environment for optical products, suggesting a stabilization in growth and a return to an upward cycle [1] Group 2: Future Growth Projections - Bank of America forecasts that AAC Technologies' revenue will experience double-digit growth from 2025 to 2027, with an improvement in profit margins [1] - The strategic shift of major competitor Sunny Optical towards the high-end market is expected to create greater growth opportunities for AAC Technologies in the mid to high-end market segments [1]

近日，招银国际将瑞声科技(02018)目标价由58.78港元上调至63.54港元，维持"买入"评级。此外，该行 还将瑞声科技2025至27年每股盈利预测上调8%至12%，主要反映光学和精密结构件业务增长超出预 期，以及光学产品盈利能力改善。 招银国际研究报告指出，预期瑞声科技上半年收入及净利润分别同比增长24%及66%，主要由美国主要 客户的声学及触觉产品规格升级、散热产品订单增加、汽车声学客户订单获取，以及光学业务盈利能力 改善所推动。 展望今年下半年及2026年，凭借在多条产品线的技术领先优势，该行认为瑞声科技已具备充分条件，能 把握AI手机、AI眼镜、车用声学和光学产品，以及机械人等领域的新商机和规格升级趋势。 据媒体报道，瑞声科技以感知体验为战略支点，在AI眼镜、人形机器人、智能汽车等领域，已形成独 特的竞争力。高盛也曾在研究报告中点名瑞声科技为物理AI潜力股，看好其在AI装备领域的发展。 AI眼镜领域，瑞声科技在系统级设计中实现声、光、触三感协同，构建起AI眼镜的感知中枢，已成功 出货雷鸟、闪极、星际魅族等国内知名客户。招银国际指出，根据行业数据，预期今年全球与中国的智 能眼镜市场将分别实现43%与 ...

Core Viewpoint - 招银国际 has raised the earnings per share forecast for 瑞声科技 (02018) for 2025 to 2027 by 8% to 12%, driven by better-than-expected growth in optical and precision components business, as well as improved profitability in optical products [1] Group 1: Financial Performance - 瑞声科技 is expected to achieve a year-on-year revenue growth of 24% and a net profit growth of 66% in the first half of the year, primarily due to upgrades in acoustic and haptic product specifications from major US clients, increased orders for thermal products, acquisition of automotive acoustic client orders, and improved profitability in the optical business [1] Group 2: Future Outlook - Looking ahead to the second half of this year and into 2026, 瑞声科技 is well-positioned to capitalize on new opportunities and specification upgrade trends in AI smartphones, AI glasses, automotive acoustic and optical products, and robotics, thanks to its technological leadership across multiple product lines [1] Group 3: Target Price and Rating - 招银国际 has increased the target price for 瑞声科技 from 58.78 HKD to 63.54 HKD while maintaining a "Buy" rating [1]