AAC Technologies 2018

Re: AAC Technologies 2018

Postby winston » Fri Aug 09, 2019 3:23 pm

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July 24, 2019

<Research Report>Nomura Downgrades AAC TECH (02018.HK) to Neutral, TP Axed to $47.8

Nomura in its report downgraded AAC TECH (02018.HK) to Neutral from Buy at the target price $47.8, axed from $51.

The broker revised down FY19/ FY20 earnings forecast on AAC TECH by 9/ 8%, due to weaker-than-expected growth momentum in Chinese smartphone customers under US-China trade conflicts and the ban on Huawei.

Source: AAStocks Financial News
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Re: AAC Technologies 2018

Postby winston » Fri Aug 09, 2019 3:27 pm

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May 21, 2019

<Research Report>HSBC Research Upgrades AAC TECH (02018.HK) to Hold, TP Lifted to $37.4

AAC TECH (02018.HK) reported 1Q19 earnings of RMB432 million (-62% YoY), beating earlier guidance of RMB280-390 million.

Revenue receded 19% YoY to RMB3.753 billion, missing HSBC Global Research's estimate by 3%.

The broker raised the 2019-21E earnings for AAC TECH by 6%/ 4%/ 5%.

Overall, AAC TECH was upgraded from Underweight to Hold, with target up from $33.7 to $37.4.

Source: AAStocks Financial News
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Re: AAC Technologies 2018

Postby winston » Sat Aug 24, 2019 7:13 am

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AAC Tech profit dives by 56.7pc to 770m yuan

Blue-chip electronics component maker, AAC Technologies (2018) said interim net profit plunged by 56.71 percent from a year ago to 770 million yuan (HK$851 million), dragged down by reduced gross profit and increased research and development costs.

Revenue dropped by 10.17 percent year-on-year to 7.57 billion yuan, among which revenue from its acoustics business fell by 15 percent to 3.65 billion yuan.

Optical business revenue in the first half of 2019 increased by 73 percent year-on-year to 417 million yuan, while revenue from electromagnetic drives and precision mechanics shrank by 12 percent to 3.03 billion yuan.

Gross profit margin decreased from 36.7 percent to 27.5 percent, owing to average sales price pressures on legacy products and unfavorable product mix due to slow-down in innovation and specs upgrade, said the company.

Earnings per share were 0.64 yuan, and the company declared an interim dividend of 40 HK cents per share.

Source: The Standard

http://www.thestandard.com.hk/breaking- ... 0823&sid=2
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Re: AAC Technologies 2018

Postby winston » Fri Sep 20, 2019 1:17 pm

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<Research Report>JPM Forecasts AAC TECH (02018.HK) Core Biz to Remain Subdued; Rated Neutral

AAC TECH (02018.HK), with the recent share rally, far outran the market of the same period.

JP Morgan attributed it to market anticipation for better-than-expected iPhone and Huawei's Mate 30 demand.

That being said, the broker opined the company's core businesses of acoustics and haptics will still come under pressure, and its lens business will need more time to reap meaningful profit contribution.

The rating was maintained at Neutral with target price of $38.

Source: AAStocks Financial News
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Re: AAC Technologies 2018

Postby winston » Fri Sep 20, 2019 1:17 pm

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<Research Report>JPM Forecasts AAC TECH (02018.HK) Core Biz to Remain Subdued; Rated Neutral

AAC TECH (02018.HK), with the recent share rally, far outran the market of the same period.

JP Morgan attributed it to market anticipation for better-than-expected iPhone and Huawei's Mate 30 demand.

That being said, the broker opined the company's core businesses of acoustics and haptics will still come under pressure, and its lens business will need more time to reap meaningful profit contribution.

The rating was maintained at Neutral with target price of $38.

Source: AAStocks Financial News
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Re: AAC Technologies 2018

Postby winston » Tue Sep 24, 2019 1:27 pm

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<Research Report>G Sachs: AAC TECH Mkt Shr Loss in Apple Acoustics Products; Positive on Lens Progress

At Goldman Sachs' Greater China Tech Day in Hong Kong yesterday, AAC TECH (02018.HK) updated its business regarding handset lens, wafer-level glass lens and edge haptics.

Goldman Sachs felt positive about the progress of handset lens of AAC TECH, yet it said the company's core businesses are weathering with headwinds, including market share loss in Apple acoustics and haptics products.

The rating was retained at Neutral with target price of $40.

Source: AAStocks Financial News
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Re: AAC Technologies 2018

Postby winston » Wed Oct 02, 2019 4:05 pm

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BNP Paribas Initiates AAC TECH (02018.HK) Underweight, TP $36

BNP Paribas initiated AAC TECH (02018.HK) at Underweight, with a target of $36.

AAC TECH has been offering acoustics and haptics components to Apple thanks to the rise of the latter over the past decade, accounting for 48% of the group's sales.

Nevertheless, AAC TECH must endure Apple's slower adoption of new speaker as well as touch feedback technology, along with keener competition within the supply chain.

Hence, AAC TECH's ROIC receded from 38.9% in 2010 to 19.1% in 2018.

Source: AAstocks.com
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Re: AAC Technologies 2018

Postby winston » Thu Oct 24, 2019 11:17 am

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DBS Estimates AAC TECH (02018.HK) 3Q NP to Drop 43% YoY, GPM to Sink to 29%

DBS Group Research projected AAC TECH (02018.HK)'s 3Q19 net profit and gross profit margin to recede to RMB551 million (-43% YoY) and 29%.

The broker believed Android smartphone upgrades would be conducive to AAC TECH's business revival, where the company shall see a turning point in FY20.

AAC TECH's FY20 net profit growth was expected to recoup to 57%, beating consensus of 50%.

Overall, AAC TECH was reiterated Buy, with target lifted from $45 to $56.

Source: AAStocks Financial News
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Re: AAC Technologies 2018

Postby winston » Thu Nov 07, 2019 1:02 pm

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<Research Report>Macquarie Initiates AAC TECH (02018.HK) at Neutral, Awaiting Mkt Recovery

Macquarie initiated AAC TECH (02018.HK) at Neutral with the 12-month target price of $52.2, on the view that the company is facing business transition.

Besides, the company is still losing market shares in iPhone haptics segment, offsetting volume growth from Android customers.

Macquarie perceived the company is awaiting market recovery.

The broker forecast the company's 2019 net profit to slide 47% and that of 2020 and 2021 to pick up 38% and 17%.

Source: AAStocks Financial News
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Re: AAC Technologies 2018

Postby winston » Thu Nov 07, 2019 1:02 pm

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<Research Report>Macquarie Initiates AAC TECH (02018.HK) at Neutral, Awaiting Mkt Recovery

Macquarie initiated AAC TECH (02018.HK) at Neutral with the 12-month target price of $52.2, on the view that the company is facing business transition.

Besides, the company is still losing market shares in iPhone haptics segment, offsetting volume growth from Android customers.

Macquarie perceived the company is awaiting market recovery.

The broker forecast the company's 2019 net profit to slide 47% and that of 2020 and 2021 to pick up 38% and 17%.

Source: AAStocks Financial News
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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