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《大行報告》華泰證券:舜宇(02382.HK)車載鏡頭維持龍頭地位 新產品佈局豐富
華泰證券發表報告指,舜宇(02382.HK)於6月16日舉行投資者日。公司將今年全球和內地智能手機市場出貨量增速預測分別下調至負6.3%和負5.1%以反映疲軟的宏觀環境,但未評論此前指引,即手機鏡頭和攝像模組出貨量按年增長5%,車載鏡頭出貨量按年增長15%。 華泰證券指,舜宇展示了公司用於智能手機、汽車、機械人視覺和ARVR的豐富產品,並認為這些產品將助力公司拓展潛在市場並維持長期增長。該行維持今年至後年每股盈利預測為2.72/3.29/3.79元人民幣,以及基於SOTP估值法得出目標價120港元,維持「買入」評級。 報告又指,舜宇車載鏡頭維持龍頭地位,新產品佈局豐富。舜宇一方面在高端ADAS傳感鏡頭方面持續研發並創新,另一方面在玻塑混合鏡頭方面取得突破,為客戶提供高性價比產品。舜宇預計其2022年車載鏡頭市場份額為34%,並有望在2023年達到 38%。
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