Citigroup has released a research report indicating that AAC TECH (02018) achieved a net profit of RMB 1.636 billion in the second half of last year. Revenue exceeded the bank's forecast by 5%, with a gross profit margin of 23%. The bank has assigned AAC TECH a target price of HK$56 and a "Buy" rating. By business segment, revenue from the electromagnetic drive and precision components division, automotive acoustics business, and sensor and semiconductor operations all surpassed expectations last year.
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