此乃要件 請即處理 閣下對本通函任何方面或將予採取的行動如有任何疑問，應諮詢 閣下的股票經紀或其他註冊證券交易商、 銀行經理、律師、專業會計師或其他專業顧問。 閣下如已售出或轉讓名下所有高偉電子控股有限公司的股份，應立即將本通函連同隨附的代表委任表格轉 交予買主或承讓人，或經手買賣或轉讓的銀行、股票經紀或其他代理人，以便轉交買主或承讓人。 香港交易及結算所有限公司及香港聯合交易所有限公司對本通函的內容概不負責，對其準確性或完整性亦 不發表任何聲明，並明確表示，概不對因本通函全部或任何部分內容而產生或因倚賴該等內容而引致的任 何損失承擔任何責任。 Cowell e Holdings Inc. 高偉電子控股有限公司 （於開曼群島註冊成立的有限公司） （股份代號：1415） 持續關連交易 更新現有採購框架協議及現有材料採購框架協議 及 股東特別大會通告 獨立董事委員會及獨立股東之獨立財務顧問 高偉電子控股有限公司謹訂於2025年11月19日（星期三）以虛擬會議方式舉行股東特別大會（「股東特別大 會」），大會通告載於本通函第68至69頁。倘 閣下未能出席股東特別大會及╱或於會上投票，務請將隨附 的代表委任表格按其上印 ...

Group 1 - Apple reported Q4 FY2025 revenue of $102.466 billion, an 8% year-over-year increase, and net profit of $27.466 billion, up 86.4% year-over-year, marking a historical high for the quarter [1] - iPhone revenue and services revenue both reached record highs, according to CEO Tim Cook [1] - Revenue from Greater China was $14.493 billion, a decline of 3.6% year-over-year, indicating weaker performance of the iPhone 16 in the Chinese market [1] Group 2 - IDC reported that approximately 68.4 million smartphones were shipped in the Chinese market in Q3, reflecting a 0.6% year-over-year decline, continuing the downward trend [1] - Q3 is traditionally a slow season for smartphone sales, with fewer new product launches and releases [1] Group 3 - Hong Kong-listed Apple concept stocks generally declined, with notable drops including GoerTek down 4%, Sunny Optical and BYD Electronics down over 2%, and Lens Technology, Q Technology, AAC Technologies, and VTech also experiencing declines [2]

Core Viewpoint - The Hong Kong stock market experienced a decline in October, with all three major indices ending the month lower after a brief rise at the beginning. The Hang Seng Index fell by 3.53%, the Hang Seng China Enterprises Index dropped by 4.05%, and the Hang Seng Tech Index saw the largest decline at 8.62. The Hang Seng Index fell below the 26,000-point mark, while the Hang Seng Tech Index fell below 6,000 points [1]. Sector Performance - The coal, port transportation, oil, and airline sectors showed positive performance, with China Eastern Airlines rising by 19.8%, China Southern Airlines increasing by 12.5%, and China Petroleum gaining over 13%. China National Offshore Oil Corporation rose nearly 4%. In the coal sector, China Coal Energy surged nearly 18%, while China Shenhua Energy increased by 12% and Shougang Resources rose by 9.7% [1]. - Conversely, the Apple concept stocks, biopharmaceuticals, domestic real estate, automotive, and semiconductor sectors experienced significant declines. Highway Electronics led the Apple concept sector with a drop of 20.7%, followed by Sunny Optical with a decline of 16.8% and Q Technology down by 15.8%. In the automotive sector, Li Auto fell by 21.35%, Leap Motor dropped by 12.13%, and BYD shares decreased by 8.7%. Although SMIC reached a new high during the month, it still fell by 5.7% [1]. Large Technology Stocks - Among large technology stocks, Xiaomi saw a significant drop of 20%, Kuaishou fell by 14.48%, Baidu decreased by 11.71%, NetEase dropped by 8.36%, JD.com fell by 7.87%, Alibaba decreased by 6.72%, Tencent dropped by 5.13%, and Meituan fell by 2.39% [1].

Core Viewpoint - Guotai Junan Securities initiates coverage on Gao Wei Electronics (01415) with a "Buy" rating, projecting net profit attributable to shareholders to reach $191 million, $225 million, and $336 million for 2025-2027, corresponding to PE ratios of 19x, 17x, and 11x respectively [1] Group 1 - The company is deeply tied to Apple, with 98.1% of its revenue in the first half of 2025 coming from Apple, benefiting from customer stickiness due to significant synergies from the Luxshare Precision Industry supply chain and ongoing capital expenditures to meet Apple's supply chain demands [1] - Strong demand for iPhones is noted, with approximately 4 million units activated in China as of October 12, and expected steady growth in iPhone and iPad shipments, providing a solid demand foundation for the company [1] - The annual iteration and upgrade of iPhone camera modules represent a clear value growth trajectory, with the value of the camera module for the iPhone Pro Max increasing by about $37 from the 13 series to the 16 series, and the latest 17 Pro Max long-focus lens significantly upgraded from 12 million pixels to 48 million pixels, indicating a trend of increasing unit value that will enhance company revenue [1] Group 2 - Following the gradual exit of major competitor Sharp from the rear camera module supply chain, the supply chain landscape is being reshaped, with Apple seeking to balance its supply chain and reduce costs [2] - The company is expected to gain more market share in ultra-wide-angle and periscope long-focus modules due to its proactive capacity expansion, with potential entry into the higher-value main camera segment by 2027, opening new growth opportunities [2]

Core Viewpoint - Guojin Securities initiates coverage on Gao Wei Electronics (01415) with a "Buy" rating, projecting net profits for 2025-2027 to reach $191 million, $225 million, and $336 million, respectively, with corresponding P/E ratios of 19x, 17x, and 11x [1] Group 1: Financial Projections - The target market capitalization for Gao Wei Electronics is set at HKD 419.90 billion, with a target price of HKD 48.38 per share for 2026 based on a 24x P/E ratio [1] - The company is expected to achieve significant revenue growth driven by strong demand for iPhones and iPads, with iPhone camera module value increasing from the 13 series to the 16 series by approximately $37 [1] Group 2: Customer Dependency and Competitive Position - Gao Wei Electronics has a deep binding with Apple, with 98.1% of total revenue in H1 2025 coming from Apple, benefiting from strong customer loyalty due to collaboration with Luxshare Precision and significant capital expenditure [1] - The exit of major competitor Sharp from the rear camera module supply chain is reshaping the competitive landscape, allowing Gao Wei Electronics to capture more market share in ultra-wide-angle and periscope modules [2] Group 3: Growth Opportunities - The company is expected to enter the higher-value main camera segment by 2027, creating new growth opportunities as Apple seeks to balance its supply chain and reduce costs [2]

香港，2025年10月30日 於本公佈日期，董事會由執行董事孟岩先生及吳英政先生；非執行董事陳漢洋先生及楊立先 生；及獨立非執行董事蘇艶雪女士、蔡鎮隆先生及劉霞女士組成。 暫停辦理股份過戶登記手續 高偉電子控股有限公司（「本公司」）董事會（「董事會」）謹此宣佈，為確定本公 司股東出席將於2025年11月19日（星期三）舉行的應屆本公司股東特別大會（「股 東特別大會」）並於會上投票的權利，本公司將於2025年11月14日（星期五）至 2025年11月19日（星期三）（包括首尾兩日）暫停辦理股份過戶登記手續，期內本 公司不會辦理任何股份過戶登記。為確保有權出席股東特別大會並於會上投票， 所有過戶文件連同有關股票須於2025年11月13日（星期四）下午四時三十分前送 交本公司香港股份過戶登記分處香港中央證券登記有限公司，地址為香港灣 仔皇后大道東183號合和中心17樓1712–1716號舖，以辦理登記。 承董事會命 高偉電子控股有限公司 主席 孟岩 香港交易及結算所有限公司及香港聯合交易所有限公司對本公佈的內容概不負責，對其準確 性或完整性亦不發表任何聲明，並明確表示，概不就因本公佈全部或任何部分內容所產生或 因依 ...

Group 1 - The Hong Kong stock market saw a collective rise in Apple-related stocks, with notable increases in several companies [1] - Hongteng Precision experienced an 8.06% increase, reaching a latest price of 5.900 and a total market capitalization of 43.091 billion [2] - Weishi Jiajie rose by 6.26%, with a latest price of 10.010 and a total market capitalization of 14.312 billion, marking a year-to-date increase of 102.51% [2] Group 2 - Gaoweidian increased by 5.04%, with a latest price of 33.760 and a total market capitalization of 29.303 billion, reflecting a year-to-date increase of 19.29% [2] - Lens Technology saw a rise of 2.92%, with a latest price of 26.760 and a total market capitalization of 141.409 billion, showing a year-to-date increase of 48.09% [2] - Fuzhikang Group increased by 2.39%, with a latest price of 18.830 and a total market capitalization of 14.739 billion, achieving a year-to-date increase of 104.67% [2]

Group 1 - The core viewpoint indicates that Apple-related stocks in Hong Kong have collectively declined, with significant drops in companies such as 富智康集团 (5.5% down) and others like 鸿腾精密 and 丘钛科技 (over 4% down) [1] - Renowned Apple analyst 郭明錤 from 天风国际 has reported that the demand for iPhone Air is lower than expected, leading the supply chain to reduce shipments and production capacity [1] - The supply chain's production capacity is expected to shrink by over 80% by Q1 2026, with some components anticipated to cease production by the end of 2025 due to the inability to find new market segments [1] Group 2 - Specific stock performance includes 富智康集团 at 18.240 with a decline of 5.49%, and other companies like 丘钛科技 at 14.090 (down 4.28%) and 蓝思科技 at 25.880 (down 4.01%) [2] - Other notable declines include 比亚迪电子 (3.58% down), 高伟电子 (3.40% down), and 舜宇光学科技 (2.32% down) [2] - The overall trend reflects a challenging environment for Apple-related stocks, driven by reduced demand and production adjustments in the supply chain [1][2]

Group 1 - Apple concept stocks experienced significant declines, with 富智康集团 (Fujikon Group) falling by 6.22% to HKD 18.1 [1] - 鸿腾精密 (Hon Teng Precision) decreased by 5.51%, trading at HKD 5.32 [1] - 丘钛科技 (Q Technology) saw a drop of 4.82%, with shares priced at HKD 14.01 [1] - 高伟电子 (GoerTek) declined by 3.95%, now at HKD 31.62 [1] - 比亚迪电子 (BYD Electronics) fell by 3.79%, with a current price of HKD 37.04 [1]

Core Viewpoint - Apple-related stocks have experienced significant declines due to lower-than-expected demand for the iPhone Air, leading to supply chain adjustments and potential production cuts [1] Group 1: Stock Performance - FIH Mobile (02038) fell by 6.22%, trading at HKD 18.1 [1] - Hon Teng (06088) decreased by 5.51%, trading at HKD 5.32 [1] - Q Technology (01478) dropped by 4.82%, trading at HKD 14.01 [1] - GoerTek (01415) declined by 3.95%, trading at HKD 31.62 [1] - BYD Electronic (00285) fell by 3.79%, trading at HKD 37.04 [1] Group 2: Supply Chain Insights - Analyst Ming-Chi Kuo indicated that demand for the iPhone Air is below expectations, prompting the supply chain to reduce shipments and production capacity [1] - Supply chain capacity is expected to shrink by over 80% by Q1 2026, with some components anticipated to cease production by the end of 2025 [1] - Existing Pro and standard models are meeting most high-end user demands, making it challenging to identify new market segments [1] Group 3: Market Sentiment and Trade Variables - Trade variables are affecting market sentiment, but the impact of tariffs on Apple’s supply chain companies should not be overstated [1] - Apple maintains strict requirements for suppliers, and domestic supply chain companies are deemed irreplaceable [1] - Equipment companies may see Apple redirect resources towards cost-reduction and efficiency-enhancing technologies such as flexible automation and 3D printing [1]