Gelonghui, November 8 | According to Huaan Securities Research Report, Sanhuan Group (300408.SZ) benefited from the MLCC business, and the company's revenue for the 23Q3 single quarter increased year-on-month. In the future, as the company's operating rate increases and the share of high-capacity products increases, combined with cost advantages, the company's MLCC business is expected to continue to drive overall revenue growth. As the global economy recovers, demand in the downstream consumer market will also continue to improve, driving up revenue from the company's ceramic backplates, PKG and other related businesses. In the ceramic backplate business, the downstream of the company is mainly smartwatches, and revenue is expected to grow as the product's penetration rate in smartwatches increases. Maintain a “buy” rating.
研报掘金丨华安证券：三环集团Q3收入同环比增长，维持“买入”评级
Research Report Nuggets: Huaan Securities: Sanhuan Group's Q3 revenue increased month-on-month, maintaining a “buy” rating
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