HK Stock Market Move | AAC TECH(02018) rose more than 4%; Goldman Sachs expects its revenue to increase by 42% year-on-year in the second half of the year and has raised its target price to 47 Hong Kong dollars.

AAC TECH (02018) rose more than 4%, as of press time, it increased by 4.67% to HK$31.4, with a trading volume of HK$50.77 million. On the news front, Goldman Sachs released a research report stating that it is expected that AAC TECH's revenue in the second half of 2024 will increase by 42% year-on-year, or that the revenue in 2024 will increase by 33% year-on-year, mainly due to the growth of mobile lenses, the increasing contribution of 6P lenses, and the incremental revenue from the PSS automotive business. It is expected that the gross profit margin in the second half of 2024 will increase to 22.6%, and the operating margin (OPM) will increase from 7% in 2024 to 10% in 2027. Based on a 22.6 times 2025 P/E ratio, the target price of AAC TECH has been raised by 11.6% to HK$47 from HK$42.1, maintaining a "buy" rating.