公告称，摄像头模组产品销售数量同比明显增长，主要是由于集团于手机摄像头模组业务的市场份额上 升，以及应用于物联网(IoT)及智能汽车领域的摄像头模组销售数量均同比大幅增长。 智通财经APP讯，丘钛科技(01478)公布，于2025年8月，摄像头模组销售数量合计4707.9万件，环比增 长18.4%，同比增长44.3%。指纹识别模组销售数量合计2059万件，环比增长43%，同比增长27.8%。 指纹识别模组产品销售数量环比增长主要是由于客户项目周期影响，同比增长主要是由于集团于指纹识 别模组业务的市场份额上升，超声波指纹识别模组销售数量同比大幅增长。 ...

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告的內容概不負責，對其準 確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生 或因倚賴該等內容而引致的任何損失承擔任何責任。 | （千件） | | | | | | | 2025年主營產品銷售數量 | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 產品類別 | 1月 | 2月 | 3月 | 4月 | 5月 | 6月 | 7月 | 8月 | 9月 | 10月 | 11月 | 12月 總計 | | 手機攝像頭模組 | 34,699 | 22,914 | 29,442 | 31,783 | 32,380 | 32,648 | 37,836 | 44,467 | – | – | – | – 266,169 | | 其他領域攝像頭模組 | 1,198 | 997 | 1,199 | 1,446 | 1,543 | 1,700 | 1,914 | 2,612 | – | – | – | – 12,609 ...

Core Viewpoint - The company reported strong financial performance for the first half of 2025, with significant growth in revenue and net profit, driven by advancements in camera module and fingerprint recognition module businesses [1][2][3]. Group 1: Financial Performance - In the first half of 2025, the company achieved revenue of RMB 8.832 billion, a year-on-year increase of 15.07% [1] - The net profit attributable to shareholders reached RMB 308 million, up 167.59% year-on-year [1] - The non-GAAP net profit attributable to shareholders was RMB 259 million, reflecting a substantial increase of 512.40% year-on-year [1] Group 2: Camera Module Business - The smartphone camera module segment saw a shift towards high-end specifications, with modules of 32 million pixels and above accounting for approximately 53.4% of total smartphone modules, an increase of about 5.5 percentage points year-on-year [1] - Sales of periscope camera modules reached approximately 10.6 million units, a year-on-year increase of about 5.9 times [1] - The average selling price of camera modules rose to approximately RMB 41.5, up 27.2% year-on-year and 16.1% quarter-on-quarter [1] Group 3: Non-Smartphone Camera Module Business - The company’s non-smartphone camera module business, particularly in automotive and IoT sectors, showed robust growth with shipments of 8.084 million units, a year-on-year increase of 47.9% [2] - The company has established partnerships with seven leading global automotive Tier 1 manufacturers and received supplier qualifications from 34 first-line automotive brands [2] - The sales guidance for non-smartphone camera modules has been revised from a year-on-year growth of no less than 40% to no less than 60% [2] Group 4: Fingerprint Recognition Module Business - The fingerprint recognition module business generated revenue of RMB 830 million, a year-on-year increase of 109.3% [3] - Shipment volume reached 94.36 million units, reflecting a year-on-year growth of 59.7% [3] - The average selling price increased by 31.1% year-on-year, contributing to improved sales revenue and gross margin [3] Group 5: Strategic Investments and Partnerships - The company increased its stake in New Giant Technology to 41.8%, enhancing its capabilities in smartphone, IoT, and NB lens technology [4] - New Giant Technology reported a revenue increase of 19.8% year-on-year, with a gross margin improvement from approximately 7.9% to 12.3% [4] - The company became the largest shareholder of Norwegian listed company poLight, focusing on TLens and semiconductor piezoelectric motors [4]

Investment Rating - The report assigns a "Buy" rating for the company, marking its first coverage [1]. Core Insights - The company has shown strong growth in its camera module business, particularly in the automotive and IoT sectors, with a significant increase in both revenue and profit margins [3][4][5]. - The company reported a revenue of RMB 8.832 billion for the first half of 2025, representing a year-on-year increase of 15.07%, and a net profit of RMB 308 million, which is a remarkable increase of 167.59% [3]. - The average selling price of camera modules has increased by approximately 27.2% year-on-year, driven by the optimization of product structure [4]. Company Overview - The latest closing price is HKD 14.16, with a total market capitalization of HKD 168.44 billion [2]. - The company has a debt-to-asset ratio of 65.06% and a price-to-earnings ratio of 32.96 [2]. Business Segments - The smartphone camera module segment has seen a shift towards high-end specifications, with modules of 32 million pixels and above accounting for about 53.4% of total sales, an increase of 5.5 percentage points year-on-year [4]. - In the non-smartphone sector, the company shipped 8.084 million camera modules for automotive and IoT applications, marking a year-on-year growth of 47.9% [5]. - The fingerprint recognition module business also experienced significant growth, with revenue reaching RMB 830 million, a year-on-year increase of 109.3% [6][8]. Financial Projections - The company is projected to achieve revenues of RMB 19.124 billion, RMB 21.705 billion, and RMB 24.472 billion for the years 2025, 2026, and 2027, respectively [10]. - The net profit forecast for the same years is RMB 745 million, RMB 938 million, and RMB 1.102 billion, indicating strong growth potential [10]. Strategic Developments - The company has deepened its vertical integration in smart vision systems, enhancing its capabilities in smartphone, IoT, and NB sectors through strategic investments [9]. - The company has established partnerships with seven leading automotive Tier 1 manufacturers, which supports its growth in the automotive camera module market [5].

Contents 目錄 | Corporate Information | 2 | | --- | --- | | 公司資料 | | | Corporate Profile | 5 | | 公司介紹 | | | Management Discussion and Analysis | 6 | | 管理層討論與分析 | | | Other Information | 32 | | 其他信息 | | | Report on Review of Condensed Consolidated Financial Statements | 59 | | 簡明合併財務報表審閱報告 | | | Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income | 62 | | 簡明合併損益及其他全面收益表 | | | Condensed Consolidated Statement of Financial Position | 65 | | 簡明合併財務狀況表 | | | Condensed Consolidated Sta ...

Core Viewpoint - The news highlights the strong performance of Apple-related stocks in the Hong Kong market, driven by analyst predictions regarding Apple's upcoming foldable devices, including the iPhone and iPad, which are expected to significantly increase sales volumes in the coming years [1] Group 1: Stock Performance - Most Apple-related stocks in the Hong Kong market showed strong gains, with notable increases: - GoerTek rose by 6% - Lens Technology and BYD Electronics increased by nearly 5% - AAC Technologies rose by 4% - Q Technology increased by 2.6% - Sunny Optical rose by 2% - FIH Mobile saw a slight increase of 0.19% [1] Group 2: Product Launch Plans - Analyst Ming-Chi Kuo revealed that Apple plans to launch its first foldable iPhone in 2026 and a foldable iPad in 2028, both utilizing ultra-thin glass cover solutions supplied exclusively by Corning [1] - The estimated shipment volumes for the foldable iPhone have been revised upwards to 8-10 million units for 2026 and 20-25 million units for 2027, compared to previous estimates of 6-8 million and 10-15 million units respectively [1] - For the foldable iPad, Apple anticipates a higher pricing strategy, with a display area of 18 to 20 inches when unfolded, and an estimated first-year shipment of 500,000 to 1 million units [1]

Group 1 - Apple concept stocks have seen significant declines, with Hong Teng Precision down 9.77% to HKD 4.25, Qiu Tai Technology down 7.17% to HKD 13.99, and Gao Wei Electronics down 4.42% to HKD 32.44 [1] - IDC's recent report indicates that global smartphone shipments are expected to grow by 1.0% year-on-year in 2025, reaching 1.24 billion units, an increase from the previous forecast of 0.6%, primarily driven by a 3.9% growth in iOS device shipments this year [1] - Omdia reported that global smartphone shipments are projected to decline to 28.87 million units in Q2 2025, a quarter-on-quarter decrease of over 800,000 units, representing a 2.8% drop, with only a slight year-on-year decrease of 20,000 units, less than 0.1% [1] Group 2 - According to招商证券, global smartphone shipments increased by 1% year-on-year in Q2, while shipments in China decreased by 4%, attributed to tariff fluctuations and macroeconomic uncertainties affecting demand, particularly in the low-end market [2] - Recent adjustments by third-party institutions have lowered the 2025 global smartphone shipment growth forecast from 2-4% to 0-1% due to uncertainties in global demand [2] - The iPhone 17 is set to begin mass production in Q3, with over 90 million units of materials already prepared, and the new model is expected to boost sales with enhanced AI features, while the Android market is focusing on brand dynamics and innovations in subsidies, AI, and optics [2]

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年8月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 丘鈦科技（集團）有限公司 呈交日期: 2025年9月1日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 01478 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 50,000,000,000 | HKD | | 0.01 | HKD | | 500,000,000 | | 增加 / 減少 (-) | | | 0 | | | | HKD | | 0 | | 本月底結存 | | | 50,000,000,000 | HKD | | 0.01 | HKD | | 500,000,000 | ...

Core Viewpoint - Hillstone Technology (01478) reported strong financial results for the first half of the year, with significant growth in revenue and profit, leading to increased investor confidence and stock price appreciation [1] Financial Performance - The company achieved a revenue of 8.832 billion HKD, representing a year-on-year increase of 15.1% [1] - Net profit reached 308 million HKD, showing a remarkable year-on-year growth of 167.6% [1] - Earnings per share were reported at 0.26 HKD, with an interim dividend of 0.15 HKD declared, marking the first interim dividend since the company's listing [1] Strategic Insights - The increase in profit is attributed to steady growth in operating income, improved gross margin, and the turnaround of joint venture New Giant Technology from loss to profit [1] - DBS Group's research report indicates strengthened confidence in the company's strategy of upgrading its product portfolio and focusing on the development of non-mobile lens modules [1] - Expectations for the second half of the year are optimistic, driven by a richer smartphone product mix, recovery in fingerprint recognition module capacity utilization, and ongoing expansion in non-mobile lens modules for automotive and IoT projects [1] Target Price Adjustments - CICC raised its target price for Hillstone Technology by 67% to 14.97 HKD, citing better-than-expected growth in non-mobile revenue and comprehensive long-term growth strategies [1] - Zhongyin International adjusted its target price from 11.6 HKD to 16.4 HKD, reflecting positive market sentiment and financial performance [1]

Core Viewpoint - Q Technology (01478) reported strong financial results for the first half of the year, with significant growth in both revenue and profit, leading to a positive market response and increased target prices from analysts [1] Financial Performance - Revenue for the first half reached 8.832 billion HKD, representing a year-on-year increase of 15.1% [1] - Net profit was 308 million HKD, showing a substantial year-on-year growth of 167.6% [1] - Earnings per share were reported at 0.26 HKD [1] - The company declared an interim dividend of 0.15 HKD, marking the first interim dividend since its listing [1] Operational Insights - The increase in profit was attributed to steady growth in operating income, improved gross margin, and the turnaround of joint venture New Giant Technology from loss to profit [1] - Analysts from DBS expressed strengthened confidence in Q Technology's product upgrade strategy and focus on developing non-mobile lens modules [1] Future Outlook - Analysts predict improved financial performance in the second half of the year, driven by a richer smartphone product mix, recovery in fingerprint recognition module capacity utilization, and ongoing expansion in non-mobile lens modules [1] - CICC raised the target price for Q Technology by 67% to 14.97 HKD, citing better-than-expected growth in non-mobile revenue and comprehensive long-term growth strategies [1] - Zhongyin International increased its target price for Q Technology from 11.6 HKD to 16.4 HKD [1]