Citibank: First time Longqi Technology (09611) “buy” rating target price of HK$24

The Zhitong Finance App learned that, according to Frost & Sullivan data, Longqi Technology (09611) is the second largest consumer electronics ODM company in the world based on 2024 ODM shipments; the bank expects the compounded annual growth rates of the company's revenue and net profit to reach 20% and 34% respectively from 2025 to 2028, covering the “buy” rating for the first time, with a target price of HK$24.

The bank anticipates that the company's growth in 2027 will benefit from Samsung's increase in market share and average sales price, the recovery and stabilization of the Android business, rapid growth in the AI glasses business, the merger of newly acquired companies, and emerging opportunities for AI personal computers and robots.