Goldman Sachs stated that AAC Tech remains optimistic and expects its future performance to further improve.
Finance and Economics APP learned that Goldman Sachs issued a research report stating to maintain a 'buy' rating on AAC Tech (02018) with a target price set at 38.2 Hong Kong dollars.
The company's revenue increased by 22% in the first half of this year, meeting the bank's and market expectations; gross margin increased by 21.5%, higher than the bank's and market expectations; operating expenses ratio at 16.1%, driving operating profit to grow by 24% in the first half, meeting the bank's expectations and 33% higher than the market's expectations; net income increased by 257% year-on-year, surpassing the bank's and market expectations.
The bank pointed out that it maintains an optimistic outlook on AAC Tech, expecting its future performance to further improve, mainly due to the improving scale and pixel combination of mobile phone lenses; upgrading of product portfolio and easing cost burden pressure through expanding the scale of new components in traditional business; targeting the automotive audio market through Premium Sound Solutions (PSS) company.