豪威科技 - 又一个强劲季度；给予增持评级

Reaction to earnings Unchanged In-line Largely unchanged Impact to our thesis Financial results versus consensus Direction of next 12-month consensus EPS Source: Company data, Morgan Stanley Research Omnivision's 3Q25 revenue was in line with MSe. Auto CIS and emerging markets showed strong momentum, while new smartphone CIS could support revenue growth in 2026. Keep OW. Slight EPS miss for 3Q25: Omnivision reported 3Q25 revenue of Rmb7.83bn, up 5% Q/Q and 15% Y/Y, in line with MSe of Rmb8bn. Q3 revenue rea ...