Lyon released a report, believing that AAC Tech (02018.HK) will continue to increase its revenue and profit margin due to market recovery, cost control, and product portfolio improvement. In addition, with the implementation of mobile phone subsidies by the mainland government, the company will become a major beneficiary. The target price for the stock has been raised from 38.6 yuan to 47.7 yuan, and it has been included in the bank's preferred list of Chinese technology H shares, alongside Xiaomi-W (01810.HK) and BYD Electronics (00285.HK).

Furthermore, Lyon has raised AAC Tech's profit forecasts for 2024 and 2025 by 2% and 19% to RMB 1.52 billion and RMB 2.2 billion respectively, mainly due to the improvement in profit margins. At the same time, it is estimated that the company is expected to achieve a balance between revenue and expenses in the optical business in the fourth quarter of this year.