BUZZ-HK-listed Q Technology hits 3-year high on January shipment growth

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BUZZ-HK-listed Q Technology hits 3-year high on January shipment growth

Reuters02-12

** Shares of camera modules maker Q Technology 1478.HK rise 4.3% to HK$8.34, their highest since February 2022

** Company said total sales volume of its camera modules $(CCM)$ in January rose 12.3% m/m to 35.9 mln units, but was down 10.8% y/y

** Says total sales volume of fingerprint recognition modules (FPM) rose 41.5% Y/Y

** Citi, with a "buy" rating on Q Tech, says CCM shipment volume is in line with expectations amid Chinese New Year impact while FPM is ahead

** "We deem Q Tech as key beneficiary of national handset subsidy and ramp-up of non-handset CCM business," Citi said in a research note

** Hang Seng Tech Index .HSTECH gains 1.2%, Hang Seng Index .HSI rises 1.6%

** Stock rose 46% last year

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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research note** Hang Seng Tech Index .HSTECH gains 1.2%, Hang Seng Index .HSI rises 1.6%** Stock rose 46% last year   (Reporting by Donny Kwok) ((donny.kwok@thomsonreuters.com))","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"dataReport","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"hasMoreComments":false,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}