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《大行報告》高盛仍關注舜宇(02382.HK)未來毛利擴張潛力評級「中性」
阿思達克 06-12 11:01

高盛發表研究報告指,仍關注舜宇光學科技(02382.HK)未來毛利擴張潛力,因隨著功能增值的方向轉移,以及用家追趕科技,手機鏡頭產業已經趨向飽和。

不過該行指,舜宇5月手機鏡頭出貨量按年增39%,持續超越台灣同業大立光收入按年增16%的升幅,這與該行對其中國市佔率增長的看法互相呼應。不過,毛利率仍然是關鍵,因市場對低端鏡頭的需求不斷增加及競爭加劇,可能會對毛利率產生影響。

另外,公司車載鏡頭保持適度增長,在過去的三年收入貢獻保持在6%;5月出貨量增長仍然疲軟,按年增長29%,導致今年首五個月按年增長23%,低於2017及2018年的41%及25%。但該行指出,舜宇現價接近花旗予明年預測市盈率15倍的估算,故維持其目標價70元不變,評級「中性」。

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