《大行报告》中金料舜宇(02382.HK)2月及3月出货因疫情承压 维持「跑赢行业」评级
中金发表的研究报告指,舜宇光学科技(02382.HK)公布了1月出货量数据,当中手机摄像模组出货量按年增长37.6%,手机镜头出货量按年增长33.2%,表现好於市场(大立光1月收入按年增长23%)。该行指出近期投资者担忧华为库存调整的潜在影响,但该行认为公司强劲的出货量数据表明,舜宇能够在多元化客户群的基础上维持健康增长。展望2月和3月出货量可能受压,主要受到新型冠状病毒疫情的影响,除了延期复工约10天外,公司同时可能面临供需方面的挑战,维持「跑赢行业」评级,目标价140港元不变。
中金指出公司手机镜头出货量好於行业,今年1月其手机镜头出货量按年增长33.2%至1.086亿片,增速好过主要竞争对手大立光,认为主要是受益於国内客户市场份额提升,以及多摄升级继续。
在手机摄像模组方面公司亦维持强劲增长,但ToF摄像模组受高基数影响有所下滑。1月份其手机摄像模组出货量5043万片,按年增长37.6%,该行重申5G时代多摄和ToF摄像模组有望成为大部分旗舰机型的光学解决方案。而在汽车镜头方面公司亦重拾增长,1月份汽车镜头出货量达到477万片,按年增13.4%,料相关业务长期将受益於高级驾驶辅助系统渗透率不断提升。
Follow us
Find us on
Facebook,
Twitter ,
Instagram, and
YouTube or frequent updates on all things investing.Have a financial topic you would like to discuss? Head over to the
uSMART Community to share your thoughts and insights about the market! Click the picture below to download and explore uSMART app!

Disclaimers
uSmart Securities Limited (“uSmart”) is based on its internal research and public third party information in preparation of this article. Although uSmart uses its best endeavours to ensure the content of this article is accurate, uSmart does not guarantee the accuracy, timeliness or completeness of the information of this article and is not responsible for any views/opinions/comments in this article. Opinions, forecasts and estimations reflect uSmart’s assessment as of the date of this article and are subject to change. uSmart has no obligation to notify you or anyone of any such changes. You must make independent analysis and judgment on any matters involved in this article. uSmart and any directors, officers, employees or agents of uSmart will not be liable for any loss or damage suffered by any person in reliance on any representation or omission in the content of this article. The content of the article is for reference only and does not constitute any offer, solicitation, recommendation, opinion or guarantee of any securities, virtual assets, financial products or instruments. Regulatory authorities may restrict the trading of virtual asset-related ETFs to only investors who meet specified requirements. Any calculations or images in the article are for illustrative purposes only.
Investment involves risks and the value and income from securities may rise or fall. Past performance is not indicative of future performance. Please carefully consider your personal risk tolerance, and consult independent professional advice if necessary.