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大行評級|里昂:中東客或尋求中國電子產品 看好比亞迪電子、瑞聲、小米及高偉電子
里昂發表報吿表示,在黎巴嫩發生的通訊設備爆炸或令部分中東國家轉投內地製造的電子設備,在內地有廠房的內地電子公司或會受惠。在內地及香港的科技板塊,該行認為,各自對Android及蘋果的憂慮已大致反映,有部分股票的估值已達非常吸引的水平。該行對H股的首選為比亞迪電子、瑞聲科技、小米及高偉電子。該行指,比亞迪電子母企比亞迪持續增長的電動車業務可成為公司持續增長的動力。公司在今年次季純利錄得按年下跌,主要是因為去年同期的基數效應,由於去年第三季的基數仍高加上iPhone金屬外殼仍在加速生產,故料公司第三季純利將錄得按年下滑,第四季增長將會轉正。該行予該股評級“跑贏大市”和目標價38.4港元。里昂稱,瑞聲方面,在來自蘋果公業務自然增長以及汽車聲學業務增長下,公司正按計劃實現其盈利增長。該行予該股評級“跑贏大市”和目標價38.6港元。另外,大部分投資者已經不再擔憂小米智能手機的毛利,而是關心小米電動車的新車型,以及公司2026年以後的電動車產能擴張計劃。該行予該股評級“跑贏大市”和目標價24.5港元。高偉在開拓iPhone 16 Pro 和iPhone 16 Pro Max 潛望鏡和超廣角攝像頭模塊市場方面的進展超出了預期。公司在這些產品中的市佔率接近40%,高於該行之前預期的30%以上。該行予該股評級“跑贏大市”和目標價28.5港元。
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