Qiu Tai Technology (01478) rose more than 3% in the intraday period. As of press release, it was up 2.7% to HK$3.81, with a turnover of HK$14.64,100.
The Zhitong Finance App learned that Qiu Tai Technology (01478) rose more than 3% in the intraday period. As of press release, it had risen 2.7% to HK$3.81, with a turnover of HK$14.4641 million.
According to the news, Qiutai Technology released sales data for its main products in April. Among them, sales of mobile phone camera modules were about 40.807 million units, up 10.8% month-on-month and 39.2% year-on-year; total sales of camera modules were 41.564 million units, up 9.6% month-on-month and 39.2% year-on-year. According to the announcement, sales volume of camera module products increased month-on-month and year-on-year, mainly due to the recovery in customer project cycles and smartphone market demand.
CMB International previously stated that maintaining Qiutai Technology's “buy” rating, the target price is HK$3.93, mainly due to high profit visibility. Future stock price catalysts include new product launches and better monthly shipments. The bank recently communicated with the company's management and remains optimistic that the recovery of high-end Android phones will drive ASP/shipment growth in 2024.