Qiu Ti TechnologyThe number of camera module shipments in 2021 has been revised down. The company’s share price has fallen sharply for two consecutive days. Today, it fell more than 7% to HK$13.44.
Qiu Ti Technology issued an announcement on the evening of Friday (16th) that it is expected that the group’s comprehensive profit attributable to shareholders in the first half of the year may increase by about 40% to 60% year-on-year. The company also announced that as the target of shipment volume set in last year’s performance announcement will face greater challenges, it has revised the target to “strive to achieve a year-on-year increase of not less than 25% in the number of camera module shipments in 2021 compared to the previous year.” The earlier growth target was not less than 30%.
According to the latest research report issued by Credit Suisse, it lowered its earnings per share estimates for 2021 to 2023 by 1%, 1.1% and 1%, and lowered its rating from outperform to neutral, maintaining a target price of HK$16. Nomura also downgraded Qiu Titanium Technology‘s rating to neutral, with a target price of HK$19.
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