买 入华泰金融(HK):Earnings Temporarily Dented on Soft Film Biz., AI R&D Intensified2024-09-09
摘要:In 1H24, Jetsen Technology logged revenue/attributable NP/recurring NP of RMB1,451/250/249mn (-2.45/-29.06/-24.44% yoy) in 1H24. We lower our 2024/2025/2026 attributable NP estimates to RMB510/610/674mn (previous: RMB593/688/761mn). In light of Jetsen’s intensified R&D efforts in AI and its partnership with Huawei Cloud on developing video LLMs, we see potential new growth drivers for the company, and thus value the stock at 22x 2024E PE, a premium over its peers’average of 20x on Wind consensus estimates. Our target price is RMB4.18 (previous: RMB6.16). Maintain BUY. 查看全文>>