AAC Technologies Holdings Inc. logo

AAC Technologies Holdings Inc.

2018.HK

HKSETechnologyHardware, Equipment & Parts

Latest quote

HK$39.42

−HK$0.68 · -1.70%

Aug 24, 10:58 AM HKT

2018.HK company overview

Regular session · HKT · Market data may be delayed.

Company profile

Company website

AAC Technologies Holdings Inc., an investment holding company, delivers comprehensive solutions for smart devices across an expansive global footprint, including Mainland China, Hong Kong, Taiwan, other parts of Asia, the United States, and Europe. Its operations are segmented into four main areas: Acoustic Products, Electromagnetic Drives and Precision Mechanics, Optics Products, and Micro Electro-Mechanical System (MEMS) Components. The Acoustic Products division specializes in sound solutions for a variety of applications, such as smartphones, automotive systems, wearables, tablets, and notebook computers. The Electromagnetic Drives and Precision Mechanics segment manufactures haptic feedback motors used in an array of intelligent devices, including smartphones, smartwatches, tablets, intelligent automobiles, smart glasses, game controllers, virtual and augmented reality (VR/AR) controllers, and bone conduction headphones. This segment further provides precision mechanical components, such as metal casings and other intricate parts, for tablets, wearables, and notebooks. The Optics Products segment supplies an extensive range of lenses—from general plastic lenses to specialized automotive options for front-view, surround-view, occupant monitoring, and driver monitoring systems—along with camera modules and integrated voice coil motor (VCM) and optical image stabilizer (OIS) technologies. The MEMS Components division focuses on producing advanced MEMS microphone products, which find applications in true wireless stereo (TWS) earphones, smart speakers, tablets, and the automotive sector. In addition to its core product lines, the company engages in research and development activities, the fabrication and sale of tooling, precision components, electronic components, and related accessories, as well as offering electroplating services. AAC Technologies Holdings Inc. also maintains a strategic alliance with Dispelix to advance solutions in augmented and mixed reality. Established in 1993 and headquartered in Shenzhen, People's Republic of China, the company underwent a name change in May 2011 from its former designation, AAC Acoustic Technologies Holdings Inc.

Industry
Hardware, Equipment & Parts
Sector
Technology
Headquarters
CN
CEO
Zhengmin Pan
Listed since
Aug 9, 2005
Employees
42,086

Market position

Day range

Current HK$39.42

52-week range

Current HK$39.42

Open
HK$40.86
Previous close
HK$40.10
Volume
6.4M
0.93× average
Average volume
6.89M
Average daily volume
Market cap
45.56B HKD
Beta
1.37
Market reference 1
50-day average
HK$41.5464
-5.12% below average
200-day average
HK$38.9994
+1.08% above average

Financials

Financial snapshot

Latest / TTM

Valuation & yield

Enterprise value
42.64B CNY
P/E (TTM)
15.36×
P/B (TTM)
1.6×
P/S (TTM)
1.19×
EV / EBITDA
8.08×
Earnings yield
6.21%
Free cash flow yield
11.13%
Dividend yield
0.89%

Profitability & efficiency

Gross margin
22.21%
Operating margin
7.91%
Net margin
7.70%
Return on equity
10.31%
Return on assets
5.13%
Return on invested capital
5.81%

Financial health

Debt / equity
0.43×
Current ratio
1.49×
Altman Z-score
2.71
Piotroski F-score
6 of 9

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin
Gross, operating, and net margin trends27%18%9%-1%Gross margin, FY2021: 24.71%Gross margin, FY2022: 18.30%Gross margin, FY2023: 16.90%Gross margin, FY2024: 22.11%Gross margin, FY2025: 22.05%Operating margin, FY2021: 8.36%Operating margin, FY2022: 3.26%Operating margin, FY2023: 1.69%Operating margin, FY2024: 6.95%Operating margin, FY2025: 7.61%Net margin, FY2021: 7.45%Net margin, FY2022: 3.98%Net margin, FY2023: 3.63%Net margin, FY2024: 6.58%Net margin, FY2025: 7.90%FY2021FY2022FY2023FY2024FY2025
Gross margin FY2021 24.71%. Gross margin FY2022 18.30%. Gross margin FY2023 16.90%. Gross margin FY2024 22.11%. Gross margin FY2025 22.05%. Operating margin FY2021 8.36%. Operating margin FY2022 3.26%. Operating margin FY2023 1.69%. Operating margin FY2024 6.95%. Operating margin FY2025 7.61%. Net margin FY2021 7.45%. Net margin FY2022 3.98%. Net margin FY2023 3.63%. Net margin FY2024 6.58%. Net margin FY2025 7.90%.

Income trends

Revenue

31.82B CNY+16.43%

Operating income

2.42B CNY+27.65%

Net income

2.51B CNY+39.77%
Income trends across reported periods34.96B CNY22.38B CNY9.79B CNY−2.8B CNYRevenue, FY2021: 17.67B CNYRevenue, FY2022: 20.63B CNYRevenue, FY2023: 20.42B CNYRevenue, FY2024: 27.33B CNYRevenue, FY2025: 31.82B CNYOperating income, FY2021: 1.48B CNYOperating income, FY2022: 671.72M CNYOperating income, FY2023: 346M CNYOperating income, FY2024: 1.9B CNYOperating income, FY2025: 2.42B CNYNet income, FY2021: 1.32B CNYNet income, FY2022: 821.31M CNYNet income, FY2023: 740.37M CNYNet income, FY2024: 1.8B CNYNet income, FY2025: 2.51B CNYFY2021FY2022FY2023FY2024FY2025
Revenue FY2021 17.67B CNY. Revenue FY2022 20.63B CNY. Revenue FY2023 20.42B CNY. Revenue FY2024 27.33B CNY. Revenue FY2025 31.82B CNY. Operating income FY2021 1.48B CNY. Operating income FY2022 671.72M CNY. Operating income FY2023 346M CNY. Operating income FY2024 1.9B CNY. Operating income FY2025 2.42B CNY. Net income FY2021 1.32B CNY. Net income FY2022 821.31M CNY. Net income FY2023 740.37M CNY. Net income FY2024 1.8B CNY. Net income FY2025 2.51B CNY.
Metric (CNY)FY2025FY2024FY2023FY2022FY2021
Revenue31.82B CNY27.33B CNY20.42B CNY20.63B CNY17.67B CNY
Cost of goods sold24.8B CNY21.29B CNY16.97B CNY16.85B CNY13.3B CNY
Gross profit7.02B CNY6.04B CNY3.45B CNY3.78B CNY4.36B CNY
Research and development2.48B CNY2.2B CNY1.57B CNY1.62B CNY1.73B CNY
Selling, general, and administrative2.12B CNY1.94B CNY1.42B CNY1.48B CNY1.15B CNY
Operating expenses4.59B CNY4.14B CNY2.67B CNY2.64B CNY2.89B CNY
Interest income193.07M CNY198.26M CNY207.82M CNY53.86M CNY48.61M CNY
Interest expense395.16M CNY417.16M CNY390.82M CNY403.08M CNY415.47M CNY
Depreciation and amortization2.69B CNY2.67B CNY2.97B CNY2.99B CNY2.54B CNY
Operating income2.42B CNY1.9B CNY346M CNY671.72M CNY1.48B CNY
Net income2.51B CNY1.8B CNY740.37M CNY821.31M CNY1.32B CNY

Company facts updated Aug 24, 2026.

Earnings

EPS beat rate
60%
6 beats, 3 misses, 1 met estimate
Average EPS surprise
+8.22%
10 comparable reports
Latest EPS result
0.91
Estimate 0.89 · Beat by 2.59%

EPS: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly EPS actual values compared with estimates2.021.380.740.1Q3 '23MissQ4 '23BeatQ2 '24MissQ4 '24BeatQ3 '25MetQ1 '26BeatQ3 '26BeatQ1 '27Estimate
Q3 2023, reported Aug 24, 2023: actual 0.119, estimate 0.123, surprise -2.94%, Miss. Q4 2023, reported Dec 31, 2023: actual 0.554, estimate 0.473, surprise +17.10%, Beat. Q2 2024, reported Jun 30, 2024: actual 0.49, estimate 0.545, surprise -10.07%, Miss. Q4 2024, reported Dec 31, 2024: actual 1.14, estimate 1.08, surprise +5.56%, Beat. Q3 2025, reported Aug 21, 2025: actual 0.828, estimate 0.828, surprise 0.00%, Met estimate. Q1 2026, reported Mar 19, 2026: actual 1.58, estimate 1.56, surprise +1.28%, Beat. Q3 2026, reported Aug 20, 2026: actual 0.912, estimate 0.889, surprise +2.59%, Beat. Q1 2027, reported Mar 25, 2027: actual —, estimate 1.88, surprise —, Comparison unavailable.

Revenue: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly Revenue actual values compared with estimates24.66B18.5B12.35B6.19BQ3 '23BeatQ4 '23MissQ2 '24MissQ4 '24BeatQ3 '25MissQ1 '26MissQ3 '26MissQ1 '27Estimate
Q3 2023, reported Aug 24, 2023: actual 9.96B HKD, estimate 9.75B HKD, surprise +2.14%, Beat. Q4 2023, reported Dec 31, 2023: actual 12.4B HKD, estimate 13.51B HKD, surprise -8.21%, Miss. Q2 2024, reported Jun 30, 2024: actual 12.08B HKD, estimate 12.08B HKD, surprise -0.02%, Miss. Q4 2024, reported Dec 31, 2024: actual 17.11B HKD, estimate 16.28B HKD, surprise +5.06%, Beat. Q3 2025, reported Aug 21, 2025: actual 7.29B HKD, estimate 14.58B HKD, surprise -50.02%, Miss. Q1 2026, reported Mar 19, 2026: actual 20.59B HKD, estimate 21.16B HKD, surprise -2.69%, Miss. Q3 2026, reported Aug 20, 2026: actual 16.74B HKD, estimate 16.75B HKD, surprise -0.07%, Miss. Q1 2027, reported Mar 25, 2027: actual —, estimate 23.37B HKD, surprise —, Comparison unavailable.

Corporate actions

Annual dividends per share

Cash distributions grouped by calendar year; partial years are marked.

HK$0.24

2025 complete year+140.0% since 2020

2026 partial: HK$0.35

* Partial calendar year in the available dividend history.

Corporate action history

Dividend

Ex-dividend May 26, 2026

HK$0.35

Annual

Record May 27, 2026 · Payment Jun 18, 2026

Dividend

Ex-dividend May 26, 2025

HK$0.24

Annual

Record May 27, 2025 · Payment Jun 19, 2025

Dividend

Ex-dividend May 27, 2024

HK$0.10

Annual

Record May 28, 2024 · Payment Jun 20, 2024

Dividend

Ex-dividend May 29, 2023

HK$0.12

Annual

Record May 30, 2023 · Payment Jun 21, 2023

Dividend

Ex-dividend Sep 8, 2021

HK$0.20

Semi-Annual

Record Sep 9, 2021 · Payment Sep 24, 2021

Dividend

Ex-dividend Jun 1, 2021

HK$0.20

Semi-Annual

Record Jun 3, 2021 · Payment Jun 23, 2021

2018.HK peers

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Funds reporting this stock among their holdings, ordered by reported position size.

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