AAC Technologies Holdings Inc

02018: XHKG (HKG)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	HKD 87.00	Ybhsk	Fyjgwxl

AAC Technologies Earnings: Impressive Margin Recovery and Outlook; Raising Fair Value 35%

Phelix Lee , Zachary Seng

Mar 28, 2024

We raised our fair value estimate for AAC Technologies to HKD 23 from HKD 17 due to improved upgrade visibility for its speakers and microphone components and access to Premium Sound Solutions’, or PSS', customer base of leading global automakers. However, we believe the market has fully priced in the improved specification upgrade demand, better optics execution, and synergies from the PSS acquisition.

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