报告名称：Truly(00732.HK)AMOLED progress on track; Retain NEUTRAL on valuation
报告类型：港股研究
报告日期：2016-04-22
研究机构：招商证券（香港）
股票名称：信利国际
股票代码：00732
页数：7
简介：Management guided 10% YoY sales growth and flattish GPM in FY16E, driven by 10 times fingerprint module shipment growth and +20%YoY vehicle display/touch modules sales
Positive on AMOLED outlook in the long term, but we expect limited earnings contribution in FY16E until further yield improvement in FY17E
Lifted FY16-18E EPS by 8-12% on stronger fingerprint and vehicle orders; Maintain NEUTRAL on demanding valuation of 8.9x FY16E P/E

下载地址：Truly(00732.HK)AMOLED progress on track; Retain NEUTRAL on valuation