Volkswagen released a research report pointing to a positive outlook for Ruisong Technology's (02018.HK) profit recovery this year, with higher mobile phone shipments and a pixel mix upgrade driving a rebound in gross margins. At the same time, the company also sees the opportunity for artificial smartphones to bring specification upgrades to add AI capabilities to the phone, making it profitable. That said, the company's gross profit before tax (EBIT) will rebound from a low of 2% in 2023 to 7% and 8% for the next two years.

COXING EXTENDED ITS VALUATION BASE TO NEXT YEAR AT 20.5 TIMES ITS MARKET EARNINGS RATIO, AND REGAINED ITS BUY RATING ON UBS FROM $33.8 TO $38.2. The bank's Qualcomm revenue forecast rose by 1%, 1% and 1% for 2025 to 2027, driven by upgrades to its pixel mix and improved specifications for its AI smartphones, topping revenue forecasts for its smartphone lens and MEMS microphone businesses. The bank also raised its operating expenditure forecast to reflect increased R&D spending on new products. In addition, the bank kept its 2025 and 2027 earnings estimates broadly unchanged.