Intelligent Finance APP learned that Zheshang Securities released a research report stating that considering the comprehensive layout of software and hardware facilities and internal growth-driven factors, it is expected that Xiamen Xiangyu (600057.SH) will have a net profit attributable to the parent company of 1.211 billion yuan, 1.435 billion yuan, and 1.683 billion yuan from 2020 to 2022, with year-on-year increases of 9.50%, 18.46%, and 17.35%, respectively, corresponding to EPS of 0.56 yuan, 0.66 yuan, and 0.78 yuan. From a growth perspective, the company's compound annual growth rate of net profit attributable to the parent company from 2020 to 2022 is 17.90%, and the PEG of the corresponding 2021E PE is 0.52, which is significantly lower than the valuation relative to the growth. Zheshang Securities believes that the reasonable valuation of the company is around 15 times PE, the reasonable market cap of the 2021 net profit attributable to the parent company is about 21.5 billion yuan, and the relative price still has about 58% room for growth. The first coverage is given a "buy" rating.$Qualcomm (QCOM.US)$It will release its fourth quarter results after the market closes on November 6, 2024, with an expected earnings per share of $2.56, a year-on-year growth of 26.7%. Projected revenue will reach 9.9 billion US dollars, a 14.7% increase from the same period last year. In the third quarter ending on June 23, Qualcomm's revenue increased by 11% year-on-year to 9.39 billion US dollars, exceeding analysts' average expectation of 9.21 billion US dollars; diluted earnings per share were $2.33, higher than analysts' average expectation of $2.24.

In the third quarter financial report, Qualcomm expects fourth quarter revenue to be between $9.5 billion and $10.3 billion, with adjusted earnings per share expected to be between $2.45 and $2.65.

Investors are concerned about the performance expectations for the December quarter, which anticipates single-digit revenue growth instead of double-digit growth. Analysts express concerns about flat forecasts for smart phone sales, as the mobile business accounts for 73% of Qualcomm's revenue, raising concerns about soft demand in key markets.

Furthermore, the company stated that the United States' tightened export restrictions led to an 8% decline in IoT chip sales, indicating broader challenges in its product field which further heightened investor concerns.

Key Indicators

According to analysts' estimates, Qualcomm's "Mobile Revenue" for this quarter is expected to reach $6.15 billion, with a projected 12.8% year-on-year increase; IoT revenue is estimated to be $1.47 billion, with a projected 6.4% year-on-year increase.

Expected auto business revenue is expected to reach 0.79151 billion US dollars, with a year-on-year growth rate of up to 48%.

Editor/ping