瑞声科技-均热板、人工智能眼镜、边缘人工智能设备、可折叠手机将推动未来增长；目标价上调至 68.6 港元；买入评级

16 November 2025 | 5:06PM HKT Equity Research AAC (2018.HK): Vapor chamber, AI glasses, Edge AI devices, Foldable phones to drive growth ahead; TP up to HK$68.6; Buy We are getting increasingly bullish about AAC due to its new components (Vapor chamber) and promising iPhone outlook. We revisit our earnings estimates and raise TP to HK$68.6 owing to: Allen Chang +852-2978-2930 | allen.k.chang@gs.com Goldman Sachs (Asia) L.L.C. Verena Jeng +852-2978-1681 | verena.jeng@gs.com Goldman Sachs (Asia) L.L.C. Ting S ...