野村上调舜宇(2382.HK)今年出货量预测目标价100港元吁买入
野村发表研究报告指,早前因舜宇(02382.HK)镜头相关业务产品平均销售价格增长强劲,视为结构性正面因素而将其投资评级上调“买入”,目标价维持100港元。
野村最新调整舜宇今年出货量预测,将今年手机镜头出货量预测由按年升25-30%,调整至按年增长30%;手机摄像模组(CCM)及车载镜头的出货量预测则维持按年增长20-25%和25%不变,估计手机摄像模组(CCM)下半年毛利率将会明显改善。

野村预期,舜宇今年的资本开支约为40亿元人民币,早前预测约为3亿元人民币。该行预计公司为满足市场需求,手机镜头及手机摄像模组的产能将会提升,营运开支比率料维持约8%或以上。
野村亦引述公司管理层指,因新产品收益率改善等因素,预期下半年手机摄像模组毛利率将会明显改善,而车载镜头毛利率则相对平稳,手机镜头毛利率料会逐步提升。管理层又确认将与丘钛科技合作,进军光学指纹模块市场。
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