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2 February 2026 | 8:29AM HKT Equity Research AccoTest (688200.SS): Tester mix upgrade on rising AI trend and improving OSAT demand; 4Q revenue guided +18%~67% YoY; Buy Accotest guided 2025 revenues to grow 41%56% YoY to Rmb1.3bnRmb1.4bn, suggesting 4Q25 midpoint revenue guidance at 43% YoY to Rmb405m, in line with our estimates. Management attributed the growth to rising client demand, mix upgrade to high-end market, and the company's client base expansion. 2025 NI growth was guided at 46%~78% YoY, with 4 ...