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| HSI1 | 23,211.81 | 0.00 | -- |
| HSCEI1 | 7,802.09 | 0.00 | -- |
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2026-10-26 11:51:35 Morgan Stanley issued a report stating that LENS (06613.HK) (300433.SZ)'s third-quarter results missed expectations. Net profit was RMB843 million, up 16% QoQ and down 50% YoY, 56% below the broker's forecast and 63% below market expectations, mainly due to weaker revenue growth and lower margins. The broker said market sentiment toward the stock may be affected by the results. Based on 20x 2027 PE, the valuation is not cheap, and it maintained an "Equalweight" rating. The broker noted that third-quarter revenue was RMB19.035 billion, up 29% QoQ and down 8% YoY, 9% below the broker's forecast and 14% below market expectations. Management attributed the weakness to softer end-market demand caused by rising memory costs, RMB appreciation, and different product launch schedules among major clients. Gross margin fell 1.4 ppts QoQ to 16.8% (versus the broker's forecast of 19.5%), mainly due to foreign exchange headwinds and lower operating leverage, dragging down net profit. Although the broker believes LENS TECHNOLOGY (300433.SZ) has solid growth momentum in the long run, it expects near-term sentiment to remain soft due to weak third-quarter financial performance, with no strong catalysts seen in the coming quarters. It maintained a target price of RMB31.(ha/u)~ AASTOCKS Financial News Website: www.aastocks.com This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. | |