週四（9月4日）早市港股蘋果概念股盤初上揚，瑞聲科技（02018）高開升2.91%，報43.2元，昨日盤中逼近保力加通道底部，最低41.76元。從技術走勢觀察，股價目 前正於關鍵支持位附近徘徊，多空雙方展開激烈爭奪，短線突破方向成為市場關注焦點。 技術分析顯示，瑞聲當前支持位分別位於40元（支持1）和36.3元（支持2），而上方阻力則見於45.5元（阻力1）及48.2元（阻力2）。值得留意的是，股價 目前略低於10日移動平均線（43.84元），與30日移動平均線（43.71元）基本持平，但仍站穩在60日移動平均線（41.92元）之上。RSI相對強弱指數目前處 於45水平，屬於中性偏弱區間，多個震盪指標顯示超賣狀態，威廉指標更顯示"處於超賣區間，買入"信號，技術面呈現築底特徵。 | 信號總結 | 賣出信號 中立信號 | 買入信號 | | --- | --- | --- | | 中立 | O | | 大行方面，華泰證券研究報告指，瑞聲科技(02018.HK)上半年聲學毛利率承壓，光學毛利率改善。考慮到MEMS麥克風業務的毛利率改善低於預 期，該行將2025至27年歸母淨利預測分別下調1%、5%及4%，至22.8億 ...

在折叠iPhone方面，郭明錤称苹果近期已上修折叠屏iPhone出货量，2026与2027年分别提升至800-1000 万，以及2000-2500万。此前预估分别为600-800万以及1000-1500万。在折叠iPad方面，郭明錤认为定价 策略更为高端，在展开状态下将提供18至20英寸的显示面积，苹果目前预估首年的出货量为50-100万 台。(格隆汇) | 代码 | 名称 | 最新价 | 涨跌幅 √ | | --- | --- | --- | --- | | 01415 | 高伟电子 | 34.180 | 6.02% | | 06613 | 蓝思科技 | 27.560 | 4.55% | | 00285 | 比亚迪电子 | 43.040 | 4.72% | | 02018 | 瑞声科技 | 43.640 | 3.95% | | 02382 | 舜宇光学科技 | 80.400 | 2.03% | | 01478 | 丘钛科技 | 14.540 | 2.61% | | 02038 | 富智康集团 | 15.500 | 0.19% | 港股苹果概念股多数走强，其中，高伟电子涨6%，蓝思科技、比亚迪电子涨近5%，瑞 ...

每经AI快讯，9月4日，港股苹果概念股盘初上扬，蓝思科技涨近6%，高伟电子涨超5%，瑞声科技、比 亚迪电子涨超3%。 ...

智通财经APP获悉，苹果概念股多数活跃，截至发稿，高伟电子(01415)涨5.27%，报33.94港元；瑞声科 技(02018)涨3.62%，报43.5港元；比亚迪电子(00285)涨3.55%，报42.56港元；蓝思科技(06613)涨 2.73%，报27.08港元。 消息面上，据报道，天风国际证券分析师郭明錤透露，苹果计划于2026年推出其首款可折叠iPhone，并 计划于2028年跟进发布可折叠iPad。此外，消费电子进入新品发布旺季。华为今日将举办华为Mate XTs 非凡大师及全场景新品发布会，将发布新款华为三折叠屏手机。苹果则官宣2025年秋季发布会将于北京 时间9月10日凌晨1点举行，届时iPhone、Apple Watch、Airpods等新品将发布。国盛证券指出，消费电 子板块中长期成长逻辑依然稳固，AI创新产业趋势明确，端侧AI落地有望加速手机等终端换机周期， 并将驱动对硬件的升级，看好板块修复弹性。 ...

FF301 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: 瑞聲科技控股有限公司（於開曼群島註冊成立之有限公司） 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) | 02018 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 5,000,000,000 | USD | | 0.01 USD | | 50,000,000 | | 增加 / 減少 (-) | | | | | | USD | | | | 本月底結存 | | | 5,000,000,000 | USD | | 0.01 USD | | 50,000,000 | 本月底法定/ ...

其中瑞声科技推出行业首创的大师级同轴对称双扬声器，应用于Redmi K80至尊版，带来更好的低音下 潜以及更丰富的高频细节。还有行业最薄扬声器首发，搭载于OPPO Find N5，其单体厚度仅1.4mm。此 外，还有雷鸟V3、闪极 AI「拍拍镜」A1等数款AI眼镜采用了瑞声科技的立体声解决方案。 瑞声科技管理层在发布会上表示，瑞声科技将持续推动声学解决方案的创新与提升，将先进的硬件设 计、智能算法与专业调音服务加深融合，以满足日益复杂的智能设备多场景、高品质的声学应用需求。 随着新产品尤其是高价值产品下半年陆续出货，公司下半年声学毛利率将稳健提升，全年声学毛利率将 保持不低于去年全年30.2%的水平。 近日，瑞声科技(2018.HK)在新加坡发布2025年中期业绩报告，集团上半年收入为人民币133.2亿元，同 比增长18.4%，再创新高。净利润同比大幅提升63.1%至8.76亿元，主要由于光学业务盈利性持续改善， 以及精密结构件业务的高速增长。 其中声学业务稳步增长，市场份额得到进一步提升，上半年实现收入人民币35.2亿元，同比增长1.8%。 毛利率为27.2%，伴随下半年更多中高端项目爬坡，毛利率将稳定提升 ...

当投资者仍在博弈消费电子板块的周期拐点时，瑞声科技(02018.HK)似乎带来了新的叙事。 日前，公司发布了上半年业绩公告，净利润同比增长超过60%。而从更多的财务数据与运营数据来看，其身上旧叙事中的"声学周期股"标签， 正在被技术溢价与多元增长的新逻辑解构。 据管理层最新指引，2025年瑞声科技全年营收增速将超过18%，毛利不低于2024年的22.1%。这意味着瑞声科技在保持较高盈利水准的同时， 今年营收规模将大幅上涨至322亿，再创历史新高。 一、真正的焦点在于：旧叙事正在被新信号打破。 上半年集团收入133.2亿元，同比增长18.4%；净利润8.76亿元，同比飙升63.1%，利润跑出"加速度"。剪刀差主要源于产品结构升级和费用增 速低于收入增速。其中，光学、电磁传动与精密结构件、车载声学三大业务合计贡献收入增量约16.5亿元，占总增量的约80%，且高价值产品 占比持续提升。同时，三费增速仍低于营收增速，规模效应持续释放。 另一方面，瑞声科技已为长期主义铺就厚实的财务安全垫： 77.5亿元账面现金、4.7%净负债率、28.9亿元经营性现金净流入，显示公司在消费电子恢复周期中格外从容。更值得玩味的是，公司在 ...

Core Viewpoint - Apple Inc. is set to hold a major fall product launch event on September 9, where the iPhone 17 series is expected to be unveiled, leading to a positive market reaction for Apple-related stocks [1] Group 1: Stock Performance - Lens Technology (300433) saw an increase of 11.02%, trading at 28.82 HKD [1] - GoerTek (01415) rose by 2.46%, reaching 34.2 HKD [1] - AAC Technologies (02018) experienced a 1.72% increase, priced at 46.02 HKD [1] - FIH Mobile (02038) gained 1.73%, with a price of 15.25 HKD [1] Group 2: Strategic Developments - Apple is in discussions with Google to enhance Siri, indicating a dual approach of external collaboration and in-house development to accelerate AI advancements, with potential outcomes exceeding expectations by 2026 [1] - Citic Securities noted that the current valuations of A/H share companies in the Apple supply chain are relatively low, anticipating a recovery in sentiment due to the resolution of short-term negative factors [1] - Apple announced an additional investment commitment of 100 billion USD in the U.S., bringing its total investment over the next four years to 600 billion USD, which is expected to expedite its investment pace in the U.S. and secure exemptions from punitive tariffs on iPhone assembly in India [1]

Core Viewpoint - 瑞声科技 reported a revenue of 13.3 billion yuan for 1H25, reflecting an 18% year-over-year increase, with a net profit of 880 million yuan, up 63% year-over-year [1][2] Group 1: Financial Performance - The company achieved a revenue of 35.2 billion yuan in the acoustic segment, a 2% year-over-year increase, with a gross margin of 27.2%, down 2.7 percentage points [1] - The optical segment generated a revenue of 26.5 billion yuan, a 20% year-over-year increase, with a gross margin of 10.2%, up 5.5 percentage points [1] - The motor and precision components segment reported a revenue of 46.3 billion yuan, a 27% year-over-year increase, with a gross margin of 22.9%, remaining stable [1] Group 2: Future Outlook - The company is expected to leverage opportunities in the automotive, XR glasses, and robotics sectors, potentially creating new growth drivers [2] - In the automotive sector, partnerships and acquisitions are anticipated to enhance the company's competitive edge, with significant revenue and market share growth expected in the next 2-3 years [2] - For XR glasses, the company has made breakthroughs with major clients, leading to anticipated rapid revenue growth from this segment [2] - The robotics segment is expected to see product layout advancements, particularly in high-value areas, with potential for quick scaling in customer adoption [2] Group 3: Valuation and Ratings - The net profit forecasts for 2025, 2026, and 2027 have been adjusted downwards by 1%, 5%, and 4% to 2.28 billion, 2.65 billion, and 2.92 billion yuan respectively [1][2] - The target price has been revised to 60.30 HKD, maintaining a "buy" rating, with a target PE of 25.0x for 2026 [2]

Core Insights - 瑞声科技 reported a record revenue of RMB 13.32 billion for the first half of 2025, representing an 18.4% year-on-year increase, with net profit rising 63.1% to RMB 876 million [1] - The company expects to maintain a high growth rate in revenue for the second half of the year, not lower than the first half's growth rate, with a full-year gross margin expected to be no less than 22.1% from the previous year [1] - The AI upgrade trend is anticipated to drive significant growth in multiple business segments, including cooling and MEMS microphones, with revenue from the cooling segment expected to exceed RMB 1.2 billion, tripling compared to 2024 [6] Financial Performance - The acoustic business generated revenue of RMB 3.52 billion in the first half of 2025, with a gross margin of 27.2%, a decrease of 2.7 percentage points year-on-year [3] - The company aims to maintain the full-year acoustic gross margin at no less than 30.2%, supported by improved operational efficiency and large-scale production in the second half [3] - The optical business revenue reached RMB 2.65 billion, growing 19.7% year-on-year, with expectations for the gross margin to exceed 30% for the full year [4] Product Development - 瑞声科技 launched innovative acoustic products, including the SLS master-level and coaxial speakers, with over 17 million units shipped in the first half, a nearly 40% increase year-on-year [3] - The company’s unique WLG technology is expected to see over 10 million units shipped this year, with a projected growth of over 50% next year [4] - The introduction of high-performance, high-density products is anticipated to enhance market opportunities, particularly in the context of foldable devices [6] Market Expansion - The automotive segment has become a significant growth area, contributing over 13% to total revenue, with a revenue of RMB 1.74 billion in the first half of 2025, a 14.2% increase year-on-year [7][8] - The company has established itself as a TIER1 supplier in the automotive sector, with successful projects in Europe and China [7] - Future plans include expanding from component supply to branded system products, aiming to provide diversified solutions in the acoustic, optical, and electronic sectors [8]