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花旗:維持舜宇光學(2382.HK)買入評級 目標價280港元
格隆匯 12-13 12:49

花旗發表研究報吿指,舜宇光學(2382.HK)11月手機鏡頭出貨量按月上升7%,按年跌4%;首11個月出貨量按年跌6%至13億件。該行相信韓國客户最近表現優於中國品牌,舜宇的毛利率將可受惠於自動化進程及更好營運效率,又相信與蘋果的合作已很穩定。該行維持其“買入”評級,目標價280港元。

該行指,手機鏡頭模組11月出貨量按月跌11%,按年跌4%,今年累計出貨量按年升14%至6.22億件,低於其全年20-25%的增長目標,認為主要是由於中國客户表現較差。

車載鏡頭方面,該行指,11月出貨量按月跌3%,按年跌25%,主要受高基數影響,今年累計出貨量按年升25%至6300萬件,對比全年目標為30-35%增長。該行相信,汽車零部件短缺仍然是影響車載鏡頭訂單的主要原因。

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