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    2018   KYG2953R1149

AAC TECHNOLOGIES HOLDINGS INC.

(2018)
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Aac Technologies : Mr. Wang Weizhong Visited AAC Tampere Imaging R&D Center

06/18/2019 | 12:39am EDT

On June 16, Mr. Wang Weizhong, The Deputy Party Secretary of Guangdong Province and also The Party Secretary of Shenzhen City, visited the newly-built Imaging R&D Center of AAC Technologies ('AAC') in Tampere, Finland, together with Mr. Lauri Lyly, The Mayor of Tampere, Mr. Sun Liwei, The Economic and Commercial Counsellor of the Embassy of the People's Republic of China in Finland, and Mr. Benjamin Pan, Executive Director and CEO of AAC, in witnessing the signing of the Memorandum of Understanding ('MOU') forImaging R&D Cooperation between AAC Technologies and Tampere.

Mr. Wang Weizhong learned in detail about AAC's products, technologies, research and development and its 'reaching-out-to-the-world' status. As Shenzhen is grasping the great opportunities when building the Guangdong-Hong Kong-Macao Great Bay Area to enhance Shenzhen's position as the biggest impetus of the regionand to become a world's influential 'capital' of innovation and creation,Mr. Wangurgedinnovative companies likeAAC having itsbase in Shenzhen but think globally, and enhanceindependent, collaborative and openedinnovation so as tointegrate and make good use of all resources andtake a firm hold of key technologies.And, as a world-class corporation, AAC could serve as an important link between China and Finland for a whole new future-oriented partnership between the two countries.

Mr. Benjamin Pan, AAC's Executive Director and CEO, disclosed that AAC will launch in-depth prospective researches on sensors, imaging algorithms, user experience to establish an one-stop vertically-integrated base with comprehensive R&D capabilities and industry supply capacity, which enable AAC to become a world leader in both optics technology development and manufacturing making Shenzhen a major optics innovation city.

AAC is a world-leadingprecision manufacturer covering a variety of product lines including micro acoustics, precision optics, electromagnetic drives and RF/antenna, each of which aims for large worldwide market shares.According to the MOU, AAC will locate its European headquarter and Imaging Solution R&D Center in Tampere with an investment of USD 10 million to support an academic cooperation for imaging technology by funding post-doctoral researchers in the imaging field at Southern University of Science and Technology and Tampere University.

Other participants of the event included Ms. Anna-Kaisa Heinämäki, Deputy Mayor of Tampere, Ms. Mari Walls, President of Tampere University and Mr. Markku Lahtinen, President of Tampere University of Applied Sciences.

Disclaimer

AAC Technologies Holdings Inc. published this content on 18 June 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 June 2019 04:38:02 UTC


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Financials
Sales 2021 19 783 M 3 066 M 3 066 M
Net income 2021 2 480 M 384 M 384 M
Net Debt 2021 115 M 17,8 M 17,8 M
P/E ratio 2021 23,5x
Yield 2021 1,11%
Capitalization 58 181 M 8 990 M 9 016 M
EV / Sales 2021 2,95x
EV / Sales 2022 2,44x
Nbr of Employees 33 735
Free-Float 58,9%
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Last Close Price 48,14 CNY
Average target price 44,71 CNY
Spread / Average Target -7,13%
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Managers and Directors
Zheng Min Pan Chief Executive Officer & Executive Director
Dan Guo Chief Financial Officer
Hong Jiang Zhang Chairman
Kaitai Pan Chief Innovation Officer & Executive VP
Jack Duan Chief Operating Officer