Lates News

Citibank's research report stated that AAC Technologies' mid-term net profit of 876 million yuan increased by 63% year-on-year, generally in line with the bank's and market expectations. All business divisions achieved the company's previous guidance on revenue, but only the optical business recorded a year-on-year increase in gross profit margin, mainly driven by the improvement in the gross profit margin of plastic lenses exceeding 10 percentage points year-on-year. Citibank's target price for AAC Technologies is HK$45, equivalent to a forecasted P/E ratio of approximately 20 times this year, with a "Buy" rating.