- We expect NanoFilm Technologies to report a weak 4Q22, with 2H22 earnings to decline by 30% y-o-y, due to Foxconn’s production in Zhengzhou, China being disrupted. The city is still subject to tight restrictions even though the seven-day lockdown was lifted on 9 Nov 22. The ongoing restrictions have led to Customer Z reducing its shipment forecasts for premium phones.
- - Read this at SGinvestors.io -
Production challenges faced by Nanofilm's major customer have led to a cut in shipment forecasts.
- NanoFilm Technologies (SGX:MZH)’s largest customer, Customer Z had in early-Nov 22 reduced the shipment forecasts of its newest premium iPhones after lockdowns in China affected operations of its supplier’s plant in China.
- - Read this at SGinvestors.io -
- Market researcher TrendForce also recently cut its iPhone shipment forecast for Oct-Dec 22 by 2m-3m units to 77m-78m, from 80m, due to the factory's troubles.
Mixed signals regarding reopening of China’s economy vs zero-COVID policy.
- Read more at SGinvestors.io.
Above is the excerpt from report by UOB Kay Hian Research.
Clients of UOB Kay Hian may be the first to access the full report in PDF @ https://www.utrade.com.sg/.
John Cheong UOB Kay Hian Research | https://research.uobkayhian.com/ 2022-11-22
Read also UOB's most recent report:
2023-11-09 Nanofilm Technologies - Expect Weakness To Continue In 4Q23; Downgrade To SELL.
Previous report by UOB:
2023-08-14 Nanofilm Technologies - 1H23 In-Line But Slower-Than-Expected Recovery For 2H23.
Price targets by 2 other brokers at NanoFilm Target Prices.
Listing of research reports at NanoFilm Analyst Reports.
Relevant links:
NanoFilm Share Price History,
NanoFilm Announcements,
NanoFilm Dividends & Corporate Actions,
NanoFilm News Articles
