2 September 2025 | 1:02AM HKT AccoTest (688200.SS): OSAT Capex cycle recovery and product migration to drive growth ahead; TP up to Rmb245; Buy Accotest reported 2Q25 net income beat our/ BBG consensus by 29%/ 20%, reflecting OSAT capex recovery and Accotest's product lines expansion. Management is positive on order and revenues growth momentum in 2H25, supported by capex cycle recovery, overseas market growth, and product expansion to address demand from data center/ automotive market, affirming our constr ...