Investment Rating - The investment rating for the company is "Buy" (maintained) [1][11] Core Views - The report indicates an upward revision of the company's net profit for 2025-2027, with expected figures of 8.5 billion, 10.9 billion, and 12.5 billion respectively, representing year-on-year growth of 204%, 28%, and 15% [4] - The current stock price of 13.06 HKD corresponds to a PE ratio of 16.7, 13.0, and 11.3 for the years 2025-2027 [4] - The company's optical system capabilities, international expansion, and diversification into AI glasses, robotics, lidar, and automotive modules are expected to enhance mid-term growth [4] - The company's mobile optical business is anticipated to improve profitability, while IoT business is experiencing rapid growth, and the joint venture has turned profitable [5] Financial Summary and Valuation Metrics - Revenue projections for 2025 are set at 20.217 billion, with a year-on-year growth of 25.2% [7] - Net profit for 2025 is projected at 848 million, reflecting a year-on-year increase of 203.9% [7] - The gross margin is expected to improve to 8.0% in 2025, with a net margin of 4.2% [7] - The report highlights a significant increase in the company's earnings per share (EPS), projected at 0.7, 0.9, and 1.0 for 2025, 2026, and 2027 respectively [7]

中金表示，公司业绩处于预告中枢，超出此前预期，主因非手机CCM和FPM销量高增释放利润弹性， 同时联营公司扭亏为盈。该行表示，由于非手机CCM和FPM销量及盈利超预期，同时联营公司业绩改 善，上调公司2025年/2026年盈利预测44%/41%至7.02/8.52亿元。维持"跑赢行业"评级，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。 丘钛科技(01478)再涨超5%，截至发稿，涨1.91%，报13.31港元，成交额4801.1万港元。 消息面上，丘钛科技公布业绩，预计上半年收益88.32亿元人民币，同比升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。 ...