法巴:手機設備股調整後供吸納機會 料基本面所受影響有限
法巴近日發表報告,相信內地疫情對大中華智能手機供應鏈的基本面及產能影響有限,該行維持對包括瑞聲科技(2018.HK)
及舜宇光學(2382.HK)
等“
估值合理
”的看法,指市場因內地疫情自1月29日以來的負面情緒,對相關股份帶來沽壓。
但該行認為,相關股份近期沽壓後,正提供大中華智能手機供應鏈股份良好吸納機會,料潛在所受影響有限,因行業大部分供應鏈在河北省以外地方,而有在湖北省設廠的鴻海及立訊精密(002475.SZ)在當地廠房的供應占比有限(料佔總收入少於2%)、而蘋果公司未來仍會維持多元化供應鏈政策(每部件供應商最少有2至3個不同公司)。
但無論如何,該行指若內疫情進一步擴大,一旦影響到舜宇光學廠房所在浙江省、瑞聲、可成科技及立訊精密設有廠房所在江蘇省、甚至是舜宇及瑞聲設有廠房所在廣東省,潛在會令該行重新調整對相關股份的盈利預測。而法巴維持對舜宇光學“
持有
”投資評級及合理價值為115港元。
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