Gelonghui, May 31 | Haitong Securities Research Report indicates that the Hisense Video (600060.SH) smart terminal display business continued to grow steadily in '23, and the new display business opened a second growth curve. In the short term, large-scale sporting events such as the Olympics and the European Cup are expected to boost demand for terminal TVs, and demand-side recovery is expected to give a positive signal on the supply side. It is expected that panel costs may show signs of gradual improvement after 24H1; in the long run, the company's 1+ (4+N) display industry layout and mixed transformation. The terminal market products integrate structural optimization with emerging display technologies such as ULEDX and Mini LED, building a moat for the Hisense brand from the top down, from industrial layout to product upgrades. The company is expected to achieve net profit of 2.35 billion yuan in 2024. The current stock price corresponds to the company's PE valuation 15 times, and the target valuation is 15-18 times, corresponding to a reasonable value range of 27.0 yuan to 32.40 yuan, maintaining a “superior to the market” rating.
研报掘金丨海通证券：维持海信视像“优于大市”评级，未来有望持续挖掘市场份额与盈利空间
Research Nuggets丨Haitong Securities: Maintaining Hisense Video's “superior to the market” rating, it is expected that it will continue to explore market share and profit space in the future
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