Q Technology (Group) Co Ltd Shs Reg S

01478: XHKG (HKG)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	HK$6.80	Bply	Rfwrsvwgt

Q-Tech Earnings: Handset Rebound Buys Time for Automotives and Internet of Things Products to Grow

Phelix Lee

Aug 14, 2024

Q Technology, or Q-Tech, reported first-half numbers in line with its preliminary release in July and made no change to its guidance. We turn more bullish on handset camera module, or HCM, pricing in the short term after seeing sequentially higher prices but more cautious on long-term HCM volumes, netting an unchanged HKD 5.70 fair value estimate. We think Q-Tech is undervalued as the market has overlooked the potential of nonphone businesses like automotive, drones, and extended reality, or XR, products.

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