Smartkarma AI, Smartkarma

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Smartkarma AI

Smartkarma

Smartkarma unites the fragmented investment industry, connecting institutional investors, independent research providers, and corporates within a single network.

Research Reinvented

Equity Bottom-Up

<ul>
 <li>Goertek is a critical component supplier for global consumer electronics giants, with a strategic focus on high-growth areas like VR/AR and smart hardware, which now constitute its largest business segment.</li>
 <li>The company faces significant customer concentration risk, primarily with Apple, and operates in a highly competitive, margin-sensitive industry. Recent performance has been impacted by order fluctuations from key clients.</li>
 <li>Future growth is contingent on diversifying its customer base, maintaining its technological edge in acoustics and optics, and capitalizing on the emerging 'AI+XR' (AI + Extended Reality) market through strategic investments and vertical integration.</li>
</ul>This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.


  Goertek is a critical component supplier for global consumer electronics giants, with a strategic focus on high-growth areas like VR/AR and smart hardware, which now constitute its largest business segment.
  The company faces significant customer concentration risk, primarily with Apple, and operates in a highly competitive, margin-sensitive industry. Recent performance has been impacted by order fluctuations from key clients.
  Future growth is contingent on diversifying its customer base, maintaining its technological edge in acoustics and optics, and capitalizing on the emerging 'AI+XR' (AI + Extended Reality) market through strategic investments and vertical integration.
This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.

Primer: Goertek Inc A (002241 CH) - Sep 2025

APAC IPOs & Placements, Aequitas Research

Nicholas Tan

APAC IPOs & Placements

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/goertek-inc-a" target="_blank" data-smartkarma-citation="entities:11547:1" rel="noopener">Goertek Inc A (002241 CH)</a> is looking to raise up to US$400m in its upcoming Hong Kong IPO. The deal will be run by CICC, CSI, CMB and UBS.</li>
<li>It is a world-leading provider of smart sensing interaction solutions.</li>
<li>Anchored by its robust one-stop smart sensing interaction platform, the firm is dedicated to driving the transformation of next-generation smart sensing interactions in collaboration with global ecosystem partners.</li>
</ul>



Goertek Inc A (002241 CH) is looking to raise up to US$400m in its upcoming Hong Kong IPO. The deal will be run by CICC, CSI, CMB and UBS.
It is a world-leading provider of smart sensing interaction solutions.
Anchored by its robust one-stop smart sensing interaction platform, the firm is dedicated to driving the transformation of next-generation smart sensing interactions in collaboration with global ecosystem partners.


Goertek Microelectronics Pre-IPO Tearsheet

External broker reports(aggregated public sources), CMB International

CMB International

External broker reports(aggregated public sources)

Incorporated in Hong Kong, supported by the mainland and targeting in global market, CMB International Capital Corporation Limited (“CMBI”) is an integrated financial institution providing comprehensive and professional services. As a wholly-owned subsidiary of China Merchants Bank ("CMB"), by leveraging on the Group’s synergy and coordination in domestic and overseas markets, as well as CMB’s strong resources and outstanding social reputation, CMBI and its subsidiaries have been actively implementing diversified business strategies and set up an overall layout of main business segments including Corporate Finance, Asset Management, Wealth Management, Global Markets and Structured Finance, etc. Adhering to the philosophy of “being clients oriented and increasing our own values by the way of creating value for clients”, CMBI endeavors to provide quality and integrated financial services to institutional, corporate and individual customers both domestic and overseas including Hong Kong IPO sponsorship and underwriting, share placement and rights issue for listed companies, financial advisors, bonds issuance services, asset management, direct investment, wealth management, equity sales and trading, etc.

<ul>
<li>Apple is widely expected to launch its long-awaited MR headset in WWDC 2023 this week.</li>
<li>We believe 2023 is set to be one of the best years in VR/AR ecosystem development as Apple’s first MR headset will set new standard for innovation.</li>
<li>We expect technology upgrade to accelerate in displays, optics/sensors and tracking/interaction for enhancing user experience. </li>
</ul>
Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.


Apple is widely expected to launch its long-awaited MR headset in WWDC 2023 this week.
We believe 2023 is set to be one of the best years in VR/AR ecosystem development as Apple’s first MR headset will set new standard for innovation.
We expect technology upgrade to accelerate in displays, optics/sensors and tracking/interaction for enhancing user experience. 

Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

China Technology – Apple MR: Long-awaited next “iPhone moment”

Goertek Microelectronics / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/goertek-microelectronics" target="_blank" data-smartkarma-citation="entities:44460:1" rel="noopener">Goertek Microelectronics (1961589D CH)</a>  is looking to raise up to US$400m in its upcoming Hong Kong IPO.</li>
<li>It is a subsidiary of <a href="https://www.smartkarma.com/entities/goertek-inc-a" target="_blank" data-smartkarma-citation="entities:11547:1" rel="noopener">Goertek Inc A (002241 CH)</a> , and is a world-leading provider of smart sensing interaction solutions.</li>
<li>In this note, we look at the firm's past performance</li>
</ul>



Goertek Microelectronics (1961589D CH)  is looking to raise up to US$400m in its upcoming Hong Kong IPO.
It is a subsidiary of Goertek Inc A (002241 CH) , and is a world-leading provider of smart sensing interaction solutions.
In this note, we look at the firm's past performance


Goertek Microelectronics: Too Reliant on Apple

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

<ul>
<li>Aequitas Research's weekly update on the IPOs, placements, lockup expiry and other ECM linked events that were covered by the team over the past week.</li>
<li>On the IPO front, we had a look at the valuations for <a href="https://www.smartkarma.com/entities/dr-agarwal-s-eye-hospital" target="_blank" data-smartkarma-citation="entities:23713:1" rel="noopener">Dr. Agarwal’s Eye Hospital</a> and <a href="https://www.smartkarma.com/entities/seoul-guarantee-insurance-co" target="_blank" data-smartkarma-citation="entities:40123:1" rel="noopener">Seoul Guarantee Insurance (031210 KS)</a>. </li>
<li>On the placements front, given the holiday shortened week, there were no placements this week.</li>
</ul>


Aequitas Research's weekly update on the IPOs, placements, lockup expiry and other ECM linked events that were covered by the team over the past week.
On the IPO front, we had a look at the valuations for Dr. Agarwal’s Eye Hospital and Seoul Guarantee Insurance (031210 KS). 
On the placements front, given the holiday shortened week, there were no placements this week.


ECM Weekly (3rd Feb 2025) - Seoul Guarantee, Dr Agarwal's, Ather Energy, Hexaware, Visen Pharma

China

GoerTek, Inc. manufactures wireless communication products. The Company offers wireless communication devices armed with wireless technology, active noise cancellation headphones, VoIP devices, hands-free headsets, and other electro-acoustic devices. GoerTek serves the telecommunication and electro-acoustic industries worldwide.

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Goertek Inc A (002241 CH)

Primer: Goertek Inc A (002241 CH) - Sep 2025

Goertek is a critical component supplier for global consumer electronics giants, with a strategic focus on high-growth areas like VR/AR and...

αSK

Goertek Microelectronics Pre-IPO Tearsheet

Goertek Microelectronics (GM) is looking to raise up to US$400m in its upcoming Hong Kong IPO. It is a world-leading provider of smart sensing...

Nicholas Tan

China Technology – Apple MR: Long-awaited next “iPhone moment”

We believe 2023 is set to be one of the best years in VR/AR ecosystem development as Apple’s first MR headset will set new standard for innovation.

CMB International

Goertek Microelectronics: Too Reliant on Apple

Goertek Microelectronics is looking to raise up to US$400m in its upcoming Hong Kong IPO. It is a provider of smart sensing interaction solutions....

Nicholas Tan

ECM Weekly (3rd Feb 2025) - Seoul Guarantee, Dr Agarwal's, Ather Energy, Hexaware, Visen Pharma

Aequitas Research's weekly update on the IPOs, placements, lockup expiry and other ECM linked events that were covered by the team over the past week.

Sumeet Singh

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52-week Range

Market Cap (USDm)

P/E

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