[ET Net News Agency, 27 August 2019] HSBC Qianhai Securities lowered its target price
for AAC Technologies (02018) to HK$30.1 from HK$35.4 and maintained its "hold" rating.
The research house said AAC's 2Q results missed expectations on margin. The margin
weakness was mainly due to acoustic, electromagnetic and optics and others. The sequential
margin drop was mainly attributable to a product mix shift, pricing pressure on legacy
products, and yield and utilisation issues in optics.
HSBC believes a turnaround would rely on significant yield/utilisation improvement in
the optical business and the launch of wafer-level glass (WLG) products.
It lowered its 2019/20/21 net profit forecasts by 21%/13%/13%, mainly on gross margin
reductions in acoustic and electromagnetic devices segments. (KL)
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02018 AAC TECH
Nominal 
24.550 0.000 (0.000%) Others
27/08/2019 16:56
{I-bank focus}HSBC trims AAC Technologies (02018) to HK$30.1
| Remark: | Real time quote last updated: 26/04/2024 08:26 |
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