On June 13th, Guolonghui reported that Orient's research report pointed out that Sanan Optoelectronics (600703.SH) LED epitaxial chip product revenue in 2023 increased by 6%, and LED market demand gradually recovered in the second half of 23. The utilization rate of equipment gradually rebounded. The company's Mini LED sales continue to grow, Micro LED cooperates with domestic and foreign major factories, MIP has mass production conditions, automotive LED multiple products enter the mass production and delivery stage, plant lighting products, lasers, high-end mobile phone flashlights and other products are progressing well. Subsequently, with the increase of the proportion of high-end products and the utilization rate of equipment, the LED business's profitability is expected to further improve. The company's silicon carbide business is progressing smoothly. In addition, Hunan Sanan and the global power giant Vitesse Technology have reached a strategic partnership, which is expected to be used in data centers, communication networks and other fields. According to comparable companies' 25-year 40x PE valuation, the corresponding target price is 14.40 yuan, maintaining a buy rating.
研报掘金丨东方证券：维持三安光电“买入”评级，目标价14.40元
Research reports from Orient Securities: Maintain a "buy" rating on Sanan Optoelectronics with a target price of 14.40 yuan.
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