Summary of Key Points Group 1: 52-Week Highs - A total of 45 stocks reached their 52-week highs as of October 23, with notable performers including Base Champion Group (08460) at 234.56%, Tianjin Chuangye Environmental Protection Co., Ltd. (01065) at 136.88%, and Liji Engineering Holdings (01690) at 80.26% [1] - The closing prices and peak prices for the top three stocks are as follows: Base Champion Group closed at 0.250 with a peak of 0.455, Tianjin Chuangye at 4.880 with a peak of 10.020, and Liji Engineering at 0.105 with a peak of 0.137 [1] Group 2: 52-Week Lows - The report also highlighted stocks that reached their 52-week lows, with Huaxi Holdings (01689) showing a decline of 16.67%, China New Economy Equity (02958) down by 14.17%, and Agile Holdings (00186) down by 13.16% [2] - The closing prices and lowest prices for the top three declining stocks are: Huaxi Holdings at 0.400 with a low of 0.350, China New Economy at 0.123 with a low of 0.103, and Agile Holdings at 0.165 with a low of 0.165 [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]

Core Insights - Apple-related stocks have shown strong performance, with notable increases in share prices for companies such as Highgreat Electronics (5.42%), Q Technology (4.96%), and BYD Electronics (3.46%) [1] Sales Performance - According to Counterpoint Research, the sales of the iPhone 17 series in the first 10 days after launch in China and the US are 14% higher compared to the iPhone 16 during the same period [1] - The base model iPhone 17 has performed particularly well in the Chinese market, while the high-end iPhone 17 Pro Max has seen the strongest demand growth in the US [1] Product Comparison - The new ultra-thin iPhone Air, although targeting a smaller audience and generating less buzz than the base iPhone 17, has already surpassed the sales of the previous "Plus" model it replaced [1]

Core Insights - Apple's stock price reached an all-time high, boosting the share prices of related companies in the Hong Kong market [1] - Strong demand for the new iPhone 17 series is indicated, with sales in the first ten days surpassing those of the iPhone 16 series by 14% in both the US and China [1] Company Performance - Gawei Electronics saw a price increase of 5.36%, with a market capitalization of 293.55 billion and a year-to-date increase of 19.51% [2] - Hongteng Precision rose by 5.03%, with a market cap of 427.26 billion and a year-to-date increase of 60.27% [2] - Lens Technology increased by 5.00%, with a market cap of 1,421.48 billion and a year-to-date increase of 48.86% [2] - AAC Technologies experienced a 4.18% rise, with a market cap of 480.41 billion and a year-to-date increase of 9.77% [2] - Q Technology's stock rose by 3.28%, with a market cap of 175.81 billion and a year-to-date increase of 137.24% [2] - Sunny Optical Technology increased by 3.94%, with a market cap of 894.46 billion and a year-to-date increase of 19.59% [2] - FIH Mobile saw a 3.62% rise, with a market cap of 148.01 billion and a year-to-date increase of 105.54% [2] - BYD Electronics increased by 3.46%, with a market cap of 903.54 billion but a year-to-date decrease of 3.21% [2]

Core Viewpoint - Apple-related stocks showed active performance, with significant gains observed in several companies following a meeting between Apple's CEO Tim Cook and China's Minister of Industry and Information Technology, Li Lecheng, discussing Apple's business development in China and cooperation in the electronics sector [1] Group 1: Stock Performance - Hon Teng Precision increased by 6.4% [1] - BYD Electronics rose nearly 6% [1] - Lens Technology gained 3.5% [1] - AAC Technologies saw a 2% increase [1] - FIH Mobile and Sunny Optical also experienced upward movement [1] Group 2: Corporate Developments - Tim Cook emphasized Apple's commitment to increasing investment in China and enhancing cooperation for mutual benefits [1] - Sabih Khan, the new COO, visited China for the first time to engage with the "Apple supply chain" [1] - Apple reported that over 90% of its manufacturing in China now utilizes renewable energy, with more than 100 suppliers contributing to this achievement [1]

消息面上，Counterpoint此前发布报告称，2025年第三季度前八周，中国智能手机市场销量同比下降 2%，这与期内促销活动和国家补贴政策加剧了中高端市场的竞争且消费者更倾向购买中高端产品有 关。该机构预计，2025年第三季度中国智能手机市场将小幅下跌，而全年表现大体持平。 值得注意的是，OpenAI此前与果链龙头企业立讯精密（002475）达成战略合作。里昂表示，考虑到 OpenAI的设备团队核心成员均来自苹果公司，其选择与苹果供应链企业合作亦属合理。预计有关举措 可为现有苹果供应链企业带来新增长动力。 苹果概念股全线下跌，截至发稿，高伟电子(01415)跌5.32%，报36.64港元；富智康集团(02038)跌 5.05%，报17.66港元；比亚迪（002594）电子(00285)跌4.28%，报41.58港元；丘钛科技(01478)跌 3.33%，报15.98港元。 ...

致：香港交易及結算所有限公司 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9月30日 狀態: 新提交 公司名稱: 富智康集團有限公司 呈交日期: 2025年10月2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) | 02038 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 2,000,000,000 | USD | | 0.4 USD | | 800,000,000 | | 增加 / 減少 (-) | | | 0 | | | USD | | | | 本月底結存 | | | 2,000,000,000 | USD | | 0.4 USD | | 800,000,000 | 本月底法定/註冊股本總額： USD 800,000, ...

富智康集团(02038)发布公告，于2025年9月29日斥资95.91万港元回购5.6万股股份。 ...