AAC Technologies (02018.HK) Acoustics, Optics’ Gross profit margin of increase sharply in 1Q21, expected to reverse the decreasing trend in revenue in 2021 July 6, 2021 420

PSR Recommendation: ACCUMULATE Status: Initiation
Target Price: HKDHKD63

Investment Summary
Shenzhen Yuanyu, the predecessor of AAC Technologies was found in 1993, started to
manufacture miniature acoustic components and was listed on the main board of the Hong
Kong Stock exchange in 2005. The Company is the world’s leading solution provider for smart
devices with cutting-edge technologies in materials research, simulation, algorithms, design,
automation and process development in Acoustics, Optics, Electromagnetic Drives and
Precision Mechanics, and MEMS, providing advanced miniaturized and proprietary
technology solutions in smartphones and portable electronic devices across the world.

About the author

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Samuel Sung

宋承軒先生 (Samuel Sung) 分析師 宋承軒先生本科畢業於香港科技大學數學系,以優異成績畢業於英國紐卡素大學獲取國際金融分析碩士學位。宋先生現為輝立証券持牌分析師,主要覆蓋TMT行業。 Samuel Sung graduated from Hong Kong University of Science and Technology with BSc in Mathematics and obtained Master’s Degree with distinction in International Financial Analysis from Newcastle University. Samuel is currently a licensed research analyst at Phillip Securities and covers the TMT sector.

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