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《大行报告》瑞信:舜宇(02382.HK)8月付运胜同业 为股价构成正面催化剂
阿思达克 09-14 10:30
瑞信发表报告表示,舜宇光学科技(02382.HK)公布今年8月手机摄像模组、手机镜头及车载镜头出货量按年各升8%、22%及16%,按月则分别升11%、19%及14%;公司今年首八个月手机摄像模组、手机镜头及车载镜头出货量按年各升20%、19%及跌2%,对比公司今年全年指引各升10%、10%%及5%。

该行指,舜宇旗下手机镜头持续受惠中低端手机需求上升,及客户三星因海外需求复苏进行补库存;旗下手机摄像模组则受惠客户Oppo及Vivo推新型号,并估计舜宇9月旗下手机镜头及手机摄像模组在9月付运维持较高水平,但华为禁令在9月15日後生效,此构成不明朗因素。

瑞信称,舜宇旗下手机镜头8月付运按年升22%(按月升19%)至1.62亿件,对比全年管理层指引按年升10%,主要受益於客户三星补库存。

瑞信认为,由於舜宇8月产品付运表现优於同业,相信可对股价构成正面催化剂,但仍需关注华为禁令的潜在影响,但相信新客户的产品设计可成主要催化剂,该行维持对舜宇光学「跑赢大市」评级及目标价168元。

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