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《大行報告》大摩:舜宇(02382.HK)純利符預期 但憂車載鏡頭指引有下調風險
阿思達克 08-18 09:52
摩根士丹利發表報告表示,舜宇光學(02382.HK)今年上半年純利大致符合該行預期,基於公司旗下客戶多元化,維持對其「增持」投資評級及目標價170元,但關注中美關係緊張,對公司營運潛在帶來風險。

該行指,舜宇光學旗下手機攝像模組(CCM)業務客戶組合多元化,相信華為於該業務客戶佔比可由原來40%至50%,降至20%至25%,料公司可提升來自小米(01810.HK)及OPPO等訂單,公司與三星訂單維持良好。

大摩透露據其了解,華為在舜宇光學旗下手機佔比已經有限,明年智能手機鏡頭將會聚焦不同型號,將更重視光學變焦功能、在拍攝影片時的防震功能等。

大摩表示,舜宇光學將在今早10時半召開分析員會議,投資者將關注公司會否下調全年營運指引,但該行認為公司在智能手機業務上正如期推展,但料車載鏡頭指引潛在有下調風險。該行指,下調對舜宇於2020年至2022年純利預測各2%、5%及5%,以反映手機攝像模組平均售價增長遜預期。

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