Core Viewpoint - Hillstone Technology (01478) experienced a decline of over 5%, closing at HKD 9.07, with a trading volume of HKD 77.66 million [1] Group 1: Shipment Data - In December, the shipment of mobile camera modules increased by 13.2% month-on-month, with a total annual shipment of 435 million units, representing a year-on-year growth of 6%, outperforming Citigroup's previous estimate of a 3.2% decline [1] - The shipment of camera modules with 32 million pixels and above saw a month-on-month decrease of 0.9% and a year-on-year decline of 11%, resulting in an annual share of 48%, which is below the company's guidance of 55% [1] Group 2: Non-Mobile Camera Modules - The annual shipment of non-mobile camera modules grew significantly by 111% year-on-year, driven by strong performance in the automotive sector and robust demand in the Internet of Things (IoT), exceeding the company's guidance of 60% year-on-year growth [1] Group 3: Earnings Forecast Adjustments - Citigroup has lowered its shipment and gross margin assumptions for Hillstone Technology's mobile camera modules and fingerprint recognition modules for 2026, reflecting the impact of a weak smartphone market [1] - The earnings per share forecast for 2026 and 2027 has been reduced by 17% and 15%, respectively, but the company is still expected to achieve a net profit of over RMB 1 billion in 2026, driven by its non-mobile business [1]

声明：市场有风险，投资需谨慎。本文为AI基于第三方数据生成，仅供参考，不构成个人投资建议。 本文源自：市场资讯 作者：情报员 国家知识产权局信息显示，昆山丘钛微电子科技股份有限公司取得一项名为"大靶面手机长焦镜头"的专 利，授权公告号CN118151332B，申请日期为2024年1月。 天眼查资料显示，昆山丘钛微电子科技股份有限公司，成立于2007年，位于苏州市，是一家以从事计算 机、通信和其他电子设备制造业为主的企业。企业注册资本288758.8万人民币。通过天眼查大数据分 析，昆山丘钛微电子科技股份有限公司共对外投资了5家企业，参与招投标项目37次，财产线索方面有 商标信息6条，专利信息799条，此外企业还拥有行政许可43个。 ...

Core Viewpoint - Company reported significant growth in camera module sales driven by increased overseas demand and market share gains, while fingerprint recognition module sales experienced a decline due to changes in product accounting [1] Group 1: Camera Module Sales - The sales volume of mobile camera modules reached 43.08 million units in December 2025, representing a quarter-on-quarter increase of 13.2% and a year-on-year increase of 40.8% [1] - Total sales of camera modules amounted to 45.938 million units, with a quarter-on-quarter increase of 10% and a year-on-year increase of 43.6% [1] - The growth in camera module sales is attributed to rising demand from overseas clients and an increase in market share, particularly for modules with less than 32 million pixels [1] Group 2: Fingerprint Recognition Module Sales - The total sales volume of fingerprint recognition modules was 17.947 million units, showing a quarter-on-quarter increase of 0.9% but a year-on-year decrease of 12% [1] - The decline in fingerprint recognition module sales is primarily due to the exclusion of certain products produced and sold in India from the sales count starting September 26, 2025, with no similar exclusions in the previous period [1] Group 3: Other Camera Module Applications - Sales of camera modules for IoT and smart automotive applications saw significant year-on-year growth, indicating a positive trend in these sectors [1]

Core Viewpoint - Company reported significant growth in camera module sales driven by increased overseas demand and market share expansion, while fingerprint recognition module sales experienced a decline due to changes in product accounting [1] Group 1: Camera Module Sales - The sales volume of mobile camera modules reached 43.08 million units in December 2025, representing a quarter-on-quarter increase of 13.2% and a year-on-year increase of 40.8% [1] - Total sales of camera modules amounted to 45.938 million units, with a quarter-on-quarter increase of 10% and a year-on-year increase of 43.6% [1] - The growth in camera module sales is attributed to rising demand from overseas clients and an increase in market share, particularly for modules with less than 32 million pixels [1] Group 2: Fingerprint Recognition Module Sales - The sales volume of fingerprint recognition modules totaled 17.947 million units, showing a quarter-on-quarter increase of 0.9% but a year-on-year decrease of 12% [1] - The decline in fingerprint recognition module sales is primarily due to the exclusion of certain products produced and sold in India from the sales count starting September 26, 2025 [1]

Core Viewpoint - Q Technology (01478.HK) reported significant growth in its main product sales for December 2025, particularly in camera modules, driven by increased overseas demand and rising market share [1] Group 1: Sales Performance - Total camera module sales reached 45.938 million units in December 2025, representing a month-on-month increase of 10.0% and a year-on-year increase of 43.6% [1] - Sales of mobile camera modules accounted for 43.08 million units, with a month-on-month growth of 13.2% and a year-on-year growth of 40.8% [1] - Fingerprint recognition module sales totaled 17.947 million units, showing a month-on-month increase of 0.9% but a year-on-year decrease of 12.0% [1] Group 2: Market Drivers - The growth in camera module sales is attributed to increased demand from overseas clients and a continuous rise in market share, particularly for camera modules with less than 32 million pixels [1] - Sales of camera modules for IoT and smart automotive applications have also seen significant year-on-year growth, indicating a positive trend in these sectors [1]

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。 Q TECHNOLOGY (GROUP) COMPANY LIMITED 丘鈦科技(集團)有限公 司 （於開曼群島註冊成立的有限公司） 自願公告 本公告乃由丘鈦科技（集團）有限公司（「本公司」，連同其附屬公司統稱「本集 團」）自願作出。除另有指明者外，本公告所採用之產品銷售數量統計口徑與本 公司日期為二零二五年十一月十一日之公告一致。 本公司董事（「董事」）會（「董事會」）謹此宣佈，本集團及本公司之聯營公司 Kunshan Q Tech Microelectronics (India) Private Limited（「印度丘鈦」）於二零二五 年十二月主營產品銷售數量詳細如下： 一、本集團主營產品銷售數量 | | 2025年12月 | 環比變化 | 同比變化 | | --- | --- | --- | --- | | 產品類別 | （千件） | （%） | （%） | | 手機攝像頭模組 | 43,08 ...

Group 1 - The mobile industry chain is experiencing a significant decline, with major companies like Highgreat Electronics, BYD Electronics, Lens Technology, and Q Tech all reporting stock price drops ranging from 1.95% to 3.8% [1] - The global DRAM market is undergoing a substantial price increase, described as the "strongest" in history, with prices rising rapidly since July 2025, and most categories seeing increases of over 100% [1] - DDR4 and DDR5 memory prices have surged by 2-3 times within the year, and the price increase trend is expected to accelerate into 2026 [1] Group 2 - Citic Securities indicates that manufacturers are raising prices or reducing product configurations, reflecting the significant cost pressure from rising memory prices being passed on to end consumers, which may lead to a temporary decline in consumer electronics sales [2] - Despite the impact of rising storage prices on the consumer electronics sector, there is an expectation of low fundamental performance in 2026, but the acceleration of AI innovation trends in 2026-2027 is anticipated, with major companies like Apple, Google, and OAI focusing on AI terminal entry to create a closed loop of computing power, terminals, and applications [2]

Group 1 - The mobile industry chain is experiencing a decline, with notable drops in stock prices for companies such as Highgreat Electronics (-3.8%), BYD Electronics (-3%), Lens Technology (-2.66%), and Q Tech (-1.95%) [1] - The global DRAM market is undergoing a significant price increase, described as the "strongest" price surge in history, with prices rising over 100% for most categories since July 2025 [1] - DDR4 and DDR5 memory prices have increased by 2-3 times within the year, and the price escalation is expected to accelerate into 2026 [1] Group 2 - Major manufacturers are raising prices or reducing product configurations, indicating that the cost pressure from rising memory prices is being transmitted to end consumers, leading to a temporary decline in consumer electronics sales [2] - The industry is likely to see a concentration of resources and pricing power among leading brands with scale and supply chain advantages [2] - Despite the low expectations for the consumer electronics sector due to memory price increases, there is a clear trend of accelerated innovation in AI from major companies like Apple, Google, and OAI, aiming to create a closed loop of computing power, terminals, and applications in 2026-2027 [2]

Group 1 - The Hong Kong stock market for Apple-related stocks experienced a downward trend, with significant declines observed in several companies [1] - Highwei Electronics (01415.HK) fell over 3%, while Sunny Optical Technology (02382.HK) and AAC Technologies (02018.HK) dropped more than 2% [1] - Additionally, Q Tech (01478.HK) and BYD Electronics (00285.HK) saw declines of over 1% [1]

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12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: 2026年1月5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 | ...