Our new SOTP-based TP of HK$58.78 implies 25.2x FY25E P/E. Reiterate BUY. Nearterm catalysts include AI glasses/phone upgrade, auto client wins and GPM expansion.
What is covered in the Full Insight:
Introduction
2H24 Financial Performance
2025 Outlook and Strategic Position
Earnings Summary and Estimates
Conclusion and Target Price
SUMMARY
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