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《大行報告》里昂引述舜宇(02382.HK)指手機產品付運及鏡頭模組毛利率要達原目標存挑戰
里昂引述舜宇(02382.HK)指,由於弱於預期的智能手機出貨量,該公司表示手機產品付運及鏡頭模組毛利率要達原目標存挑戰,其原本預計手機鏡頭總毛利率達雙位數。該公司表示其車載鏡頭組繼續保持行業領先地位,出貨量有望達到其指導水平。由於近期智能手機業務面臨壓力,里昂維持舜宇「跑輸大市」評級,目標價117元不變。 里昂認為,舜宇智能驅動業務和VRAR具有堅實的長期投資概念,然而由於智能手機行業尚未見底,且市場普遍預期的盈利預測仍可能向下調整,其盈利將面臨壓力,值得關注的重點包括手機鏡頭方面與瑞聲(02018.HK)的競爭形勢、智能手機出貨量恢復、手機攝像頭升級以及汽車供應鏈的恢復。
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