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之內容概不負責，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告全部或任何部份內容而產生或因倚賴該等內容而引致之任何損失 承擔任何責任。 Lens Technology Co., Ltd. 藍 思 科 技 股 份 有 限 公 司 （ 於中華人民共和國註冊成立的股份有限公司） （股份代號：6613） 海外監管公告 本公告乃根據香港聯合交易所有限公司證券上市規則第13.10B條刊發。 茲載列藍思科技股份有限公司（「本公司」）於深圳證券交易所網站(www.szse.cn) 及巨潮資訊 網(www.cninfo.com.cn)刊登的公告如下，僅供參閱。 承董事會命 藍思科技股份有限公司 董事長 周群飛 香港，2025年8月25日 於本公告日期，本公司董事會成員包括執行董事周群飛女士、鄭俊龍先生及饒橋兵先生；及獨立非執行董事 萬煒女士、劉岳先生、田宏先生及謝志明先生。 蓝思科技股份有限公司 2025 年半年度报告摘要 证券代码：300433 证券简称：蓝思科技 公告编号：定 2025-004 蓝思科技股份有限公司 本半年度报告摘要来自半年度报告全文， ...

海外監管公告 本公告乃根據香港聯合交易所有限公司證券上市規則第13.10B條刊發。 茲載列藍思科技股份有限公司（「本公司」）於深圳證券交易所網站(www.szse.cn) 及巨潮資訊 網(www.cninfo.com.cn)刊登的公告如下，僅供參閱。 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之內容概不負責，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告全部或任何部份內容而產生或因倚賴該等內容而引致之任何損失 承擔任何責任。 Lens Technology Co., Ltd. 藍 思 科 技 股 份 有 限 公 司 （ 於中華人民共和國註冊成立的股份有限公司） （股份代號：6613） 承董事會命 藍思科技股份有限公司 董事長 周群飛 香港，2025年8月25日 於本公告日期，本公司董事會成員包括執行董事周群飛女士、鄭俊龍先生及饒橋兵先生；及獨立非執行董事 萬煒女士、劉岳先生、田宏先生及謝志明先生。 证券代码：300433 证券简称：蓝思科技 公告编号：临 2025-062 蓝思科技股份有限公司 第五届董事会第七次会议决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完 ...

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之內容概不負責，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告全部或任何部份內容而產生或因倚賴該等內容而引致之任何損失 承擔任何責任。 海外監管公告 本公告乃根據香港聯合交易所有限公司證券上市規則第13.10B條刊發。 茲載列藍思科技股份有限公司（「本公司」）於深圳證券交易所網站(www.szse.cn) 及巨潮資訊 網(www.cninfo.com.cn)刊登的公告如下，僅供參閱。 承董事會命 藍思科技股份有限公司 董事長 周群飛 香港，2025年8月25日 Lens Technology Co., Ltd. 藍 思 科 技 股 份 有 限 公 司 （ 於中華人民共和國註冊成立的股份有限公司） （股份代號：6613） 於本公告日期，本公司董事會成員包括執行董事周群飛女士、鄭俊龍先生及饒橋兵先生；及獨立非執行董事 萬煒女士、劉岳先生、田宏先生及謝志明先生。 证券代码：300433 证券简称：蓝思科技 公告编号：临 2025-063 蓝思科技股份有限公司 第五届监事会第五次会议决议公告 本公司及监事会全体成员保证信息披露的内容真实、准确、完 ...

| EF001 | | --- | | | 非居民企業 | | | | --- | --- | --- | --- | | | （非中國內地登記地址） | 10% | 對境外非居民企業H股股東，本公 | | | | | 司統一按10%的稅率代扣代繳企業 | | | | | 所得稅。 | | | 非個人居民 | | | | | （非中國內地登記地址） | 10% | 本公司將按10%稅率代為扣繳H股 | | | | | 個人股東（香港居民、澳門居民或 | | | | | 其他與中國協議股息個人所得稅率 | | | | | 為10%的國家居民）的個人所得 | | | | | 稅。若H股個人股東為與中國協議 | | | | | 股息個人所得稅率低於10%的國家 | | | | | 居民，本公司將代為辦理享受有關 | | | | | 協議優惠待遇申請。若H股個人股 | | | | | 東為與中國協議股息個人所得稅率 | | | | | 高於10%但低於20%的國家居民， | | | | | 本公司將按協議的實際稅率扣繳個 | | | | | 人所得稅。 | | | 非個人居民 | | | | | （非中國內地登記地址 ...

[Financial Highlights](index=1&type=section&id=Financial%20Highlights) [Financial Highlights Overview](index=1&type=section&id=Financial%20Highlights_Overview) The company reported significant increases in total revenue, gross profit, and net profit attributable to owners of the parent, alongside an interim cash dividend proposal Key Financial Data for H1 2025 | Indicator | H1 2025 (RMB million) | H1 2024 (RMB million) | YoY Growth (%) | | :--- | :--- | :--- | :--- | | Total Revenue | 32,960.16 | 28,866.65 | 14.18% | | Gross Profit | 4,304.61 | 3,653.66 | 17.82% | | Net Profit Attributable to Owners of the Parent | 1,142.69 | 861.26 | 32.68% | | Cash Dividend per 10 Shares | RMB 1.00 (tax inclusive) | - | - | [Condensed Consolidated Financial Statements](index=3&type=section&id=Condensed%20Consolidated%20Financial%20Statements) [Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income](index=3&type=section&id=Condensed%20Consolidated%20Statement%20of%20Profit%20or%20Loss%20and%20Other%20Comprehensive%20Income) During the reporting period, the company's revenue and profit both grew, with profit for the period at **RMB 1,194,275 thousand** and total comprehensive income at **RMB 1,165,018 thousand** Summary of Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income | Indicator | 2025 (RMB thousand) | 2024 (RMB thousand) | | :--- | :--- | :--- | | Revenue | 32,960,158 | 28,866,649 | | Gross Profit | 4,304,610 | 3,653,655 | | Profit Before Tax | 1,245,648 | 787,389 | | Profit for the Period | 1,194,275 | 880,945 | | Profit for the Period Attributable to Owners of the Company | 1,142,689 | 861,262 | | Total Comprehensive Income for the Period | 1,165,018 | 800,954 | | Basic Earnings Per Share (RMB) | 0.23 | 0.17 | [Condensed Consolidated Statement of Financial Position](index=5&type=section&id=Condensed%20Consolidated%20Statement%20of%20Financial%20Position) As of June 30, 2025, the company's non-current assets increased, while current assets and current liabilities both decreased, leading to a reduction in net current assets Summary of Condensed Consolidated Statement of Financial Position | Indicator | June 30, 2025 (RMB thousand) | December 31, 2024 (RMB thousand) | | :--- | :--- | :--- | | Non-current Assets | 52,575,732 | 50,243,266 | | Current Assets | 24,677,823 | 30,772,781 | | Current Liabilities | 22,305,454 | 23,065,161 | | Net Current Assets | 2,372,369 | 7,707,620 | | Net Assets | 47,995,837 | 48,845,910 | [Notes to the Condensed Consolidated Financial Statements](index=7&type=section&id=Notes%20to%20the%20Condensed%20Consolidated%20Financial%20Statements) [1. General Information](index=7&type=section&id=1.%20General%20Information) Lens Technology Co., Ltd. was incorporated in China, listed on the Shenzhen Stock Exchange in 2015, and its H-shares were listed on the Hong Kong Stock Exchange from July 9, 2025, with the Group primarily engaged in R&D, design, manufacturing, and sales of structural and functional modules, as well as consumer electronics assembly, smart automotive, and other emerging businesses - The company's H-shares were listed on the Main Board of the Hong Kong Stock Exchange on **July 9, 2025**[10](index=10&type=chunk) - The Group's principal business covers R&D, design, manufacturing, and sales of structural components and functional modules, along with consumer electronics assembly, smart automotive, and other emerging sectors[10](index=10&type=chunk) [2. Basis of Preparation and Accounting Policies](index=7&type=section&id=2.%20Basis%20of%20Preparation%20and%20Accounting%20Policies) The condensed consolidated financial statements are prepared in accordance with International Accounting Standard 34 and the Listing Rules of the Stock Exchange, with the first-time application of amendments to IAS 21 having no significant impact on financial position or performance - The financial statements are prepared in accordance with **International Accounting Standard 34** and the **Listing Rules of the Stock Exchange**[11](index=11&type=chunk) - The first-time application of amendments to **International Accounting Standard 21**, 'Lack of Exchangeability', had no significant impact on the financial position and performance[12](index=12&type=chunk) [5. Revenue and Segment Information](index=8&type=section&id=5.%20Revenue%20and%20Segment%20Information) Total revenue for the period was **RMB 32,960.16 million**, primarily from smart devices and computers, with significant contributions also from smart automotive and cockpit, smart wearables, and other smart terminal businesses, and the company operates as a single operating and reportable segment Revenue Analysis by Major End Products and Services | Revenue Source | 2025 (RMB thousand) | 2024 (RMB thousand) | | :--- | :--- | :--- | | Smart Devices and Computers | 27,184,821 | 24,015,935 | | Smart Automotive and Cockpit | 3,164,660 | 2,717,527 | | Smart Head-mounted Displays and Wearables | 1,646,553 | 1,435,012 | | Other Smart Terminals | 363,606 | 159,334 | | Other | 600,518 | 538,841 | | **Total** | **32,960,158** | **28,866,649** | - The company operates as a **single operating and reportable segment**[14](index=14&type=chunk) [6. Other Income](index=8&type=section&id=6.%20Other%20Income) Other income for the period was **RMB 310,463 thousand**, primarily comprising government grants and interest income, with a significant increase in government grants Composition of Other Income | Other Income Source | 2025 (RMB thousand) | 2024 (RMB thousand) | | :--- | :--- | :--- | | Government Grants | 142,156 | 101,481 | | Interest Income | 124,091 | 129,876 | | Compensation Income | 13,875 | 14,390 | | Other | 30,341 | 36,163 | | **Total** | **310,463** | **281,910** | [7. Net Other Gains and Losses](index=9&type=section&id=7.%20Net%20Other%20Gains%20and%20Losses) Net other gains and losses for the period amounted to **RMB 255,142 thousand**, primarily driven by a substantial increase in net foreign exchange gains Composition of Net Other Gains and Losses | Item | 2025 (RMB thousand) | 2024 (RMB thousand) | | :--- | :--- | :--- | | Net Foreign Exchange Gains | 167,973 | 30,357 | | Net Fair Value Gains from Financial Assets/Liabilities at Fair Value Through Profit or Loss | 74,180 | 110,083 | | Gains (Losses) on Disposal of Property, Plant and Equipment and Intangible Assets | 13,675 | (10,856) | | Other | (686) | — | | **Total** | **255,142** | **129,584** | [8. Income Tax Expense (Credit)](index=9&type=section&id=8.%20Income%20Tax%20Expense%20(Credit)) Income tax expense for the period was **RMB 51,373 thousand**, compared to an income tax credit in the prior period, primarily due to increased profit before tax, with some Chinese subsidiaries enjoying a **15% preferential tax rate** as high-tech enterprises Composition of Income Tax Expense (Credit) | Item | 2025 (RMB thousand) | 2024 (RMB thousand) | | :--- | :--- | :--- | | Current Tax | 63,315 | 123,024 | | Under-provision in Prior Years | 23,251 | 2 | | Deferred Tax Credit | (35,193) | (216,582) | | **Total** | **51,373** | **(93,556)** | - The company and certain Chinese subsidiaries are certified as high-tech enterprises, enjoying a **15% preferential tax rate**[17](index=17&type=chunk) [9. Dividends](index=10&type=section&id=9.%20Dividends) The Board approved an interim dividend of **RMB 0.10 per ordinary share** (tax inclusive) for 2025, totaling **RMB 526,023 thousand**, expected to be paid on or before **October 24, 2025** - The Board approved an interim dividend of **RMB 0.10 per ordinary share** (tax inclusive) for 2025, totaling **RMB 526,023 thousand**[19](index=19&type=chunk) - The 2024 final dividend of **RMB 1,983,582 thousand** (**RMB 0.40 per share**) was declared and paid during the current period[19](index=19&type=chunk) [10. Earnings Per Share](index=10&type=section&id=10.%20Earnings%20Per%20Share) Basic and diluted earnings per share attributable to owners of the company for the period were both **RMB 0.23**, an increase from **RMB 0.17** in the prior period Earnings Per Share | Indicator | 2025 (RMB) | 2024 (RMB) | | :--- | :--- | :--- | | Basic Earnings Per Share | 0.23 | 0.17 | | Diluted Earnings Per Share | 0.23 | 0.17 | [11. Financial Assets (Liabilities) at Fair Value Through Profit or Loss](index=11&type=section&id=11.%20Financial%20Assets%20(Liabilities)%20at%20Fair%20Value%20Through%20Profit%20or%20Loss) As of June 30, 2025, total financial assets at fair value through profit or loss significantly increased to **RMB 1,242,678 thousand**, primarily comprising structured deposits and unlisted investments Financial Assets (Liabilities) at Fair Value Through Profit or Loss | Item | June 30, 2025 (RMB thousand) | December 31, 2024 (RMB thousand) | | :--- | :--- | :--- | | Structured Deposits | 1,081,917 | 354,917 | | Unlisted Investments at Fair Value Through Profit or Loss | 138,443 | — | | Deliverable Forward Contracts | (15,432) | (9,620) | | Listed Equity Securities | 589 | — | | **Total** | **1,205,517** | **345,297** | | **Financial Assets at Fair Value Through Profit or Loss** | **1,242,678** | **354,917** | | **Financial Liabilities at Fair Value Through Profit or Loss** | **(37,161)** | **(9,620)** | [12. Trade and Bills Receivables](index=11&type=section&id=12.%20Trade%20and%20Bills%20Receivables) As of June 30, 2025, total trade and bills receivables amounted to **RMB 8,754,981 thousand**, a decrease from the end of 2024, with the largest portion being non-overdue amounts Trade and Bills Receivables | Item | June 30, 2025 (RMB thousand) | December 31, 2024 (RMB thousand) | | :--- | :--- | :--- | | Trade Receivables | 8,877,537 | 11,006,529 | | Less: Provision for Expected Credit Losses | (123,393) | (148,312) | | **Total** | **8,754,981** | **10,865,736** | Ageing Analysis of Trade Receivables | Ageing | June 30, 2025 (RMB thousand) | December 31, 2024 (RMB thousand) | | :--- | :--- | :--- | | Not Overdue | 8,631,198 | 10,610,390 | | Overdue 0-90 Days | 187,242 | 363,411 | | Overdue 91-180 Days | 33,428 | 9,396 | | Overdue 181-365 Days | 15,957 | 4,236 | | Overdue Over One Year | 9,712 | 19,096 | [13. Prepayments and Other Receivables](index=12&type=section&id=13.%20Prepayments%20and%20Other%20Receivables) As of June 30, 2025, total prepayments and other receivables increased to **RMB 2,206,002 thousand** from the end of 2024, primarily comprising recoverable VAT and prepayments for property, plant, and equipment Composition of Prepayments and Other Receivables | Item | June 30, 2025 (RMB thousand) | December 31, 2024 (RMB thousand) | | :--- | :--- | :--- | | Recoverable VAT | 586,999 | 344,998 | | Prepayments for Property, Plant and Equipment | 928,579 | 1,020,338 | | Prepayments for Materials and Other | 148,792 | 174,304 | | Refundable Deposits for Land Use Rights | 200,000 | 200,000 | | Refundable Deposits for Project Performance | 150,000 | 150,000 | | Other Receivables | 157,873 | 141,181 | | **Total** | **2,206,002** | **2,038,769** | [14. Trade and Other Payables](index=13&type=section&id=14.%20Trade%20and%20Other%20Payables) As of June 30, 2025, total trade and other payables decreased to **RMB 15,578,880 thousand** from the end of 2024, with trade payables constituting the largest portion Composition of Trade and Other Payables | Item | June 30, 2025 (RMB thousand) | December 31, 2024 (RMB thousand) | | :--- | :--- | :--- | | Trade Payables | 9,363,757 | 10,388,566 | | Construction Payables | 3,895,189 | 3,616,325 | | Accrued Staff Costs | 1,440,892 | 1,532,142 | | **Total** | **15,578,880** | **16,365,834** | [15. Borrowings](index=13&type=section&id=15.%20Borrowings) During the period, the Group repaid borrowings of **RMB 2,009,811 thousand**, with floating-rate bank borrowings bearing interest at the Loan Prime Rate, subject to certain upward or downward adjustments - Borrowings of **RMB 2,009,811 thousand** were repaid during the period, a decrease from **RMB 2,872,598 thousand** in the prior period[25](index=25&type=chunk) - Floating-rate bank borrowings bear interest at the Loan Prime Rate, with interest rates reset every **1 to 12 months**[25](index=25&type=chunk) [16. Share Capital](index=14&type=section&id=16.%20Share%20Capital) As of June 30, 2025, the company's share capital was **RMB 4,982,772 thousand**, slightly reduced due to the repurchase and cancellation of restricted A-shares under the restricted share scheme Changes in Share Capital | Item | June 30, 2025 (Number of Shares) | June 30, 2025 (RMB thousand) | | :--- | :--- | :--- | | Registered, Issued and Fully Paid Ordinary Shares | 4,982,772,171 | 4,982,772 | | Repurchase and Cancellation of Restricted A-shares | (107,100) | (107) | [17. Events After the Reporting Period](index=14&type=section&id=17.%20Events%20After%20the%20Reporting%20Period) Subsequent to the reporting period, the company's H-shares were listed on the Stock Exchange on **July 9, 2025**, with a total of **301,595,200 ordinary shares** issued through public offering and overallotment - The company's H-shares were listed on the Stock Exchange on **July 9, 2025**[27](index=27&type=chunk) - A total of **301,595,200 ordinary shares** were issued through public offering and overallotment[27](index=27&type=chunk) [Management Discussion and Analysis](index=15&type=section&id=Management%20Discussion%20and%20Analysis) [I. Industry Development During the Reporting Period](index=15&type=section&id=I.%20Industry%20Development%20During%20the%20Reporting%20Period) AI technology is profoundly empowering consumer electronics, smart cockpits, and embodied AI, driving market demand growth and industrial upgrading, with the company actively seizing market opportunities through its full-产业链 integration capabilities and innovative products - AI empowers innovation in consumer electronics terminals, with Canalys projecting AI smartphone penetration to rise from **34% in 2025** to **54% in 2028**[28](index=28&type=chunk) - The smart cockpit sector is undergoing multimodal interaction innovation, with China Business Industry Research Institute forecasting the passenger vehicle smart cockpit market to exceed **RMB 156.4 billion** in **2025**[29](index=29&type=chunk) - The embodied AI industry has entered its first year of scaled growth, with Gaogong Robot predicting the global embodied AI market to reach **RMB 6.339 billion** in **2025** and potentially surpass **RMB 400 billion** by **2035**[30](index=30&type=chunk) [II. Group's Operating Performance](index=16&type=section&id=II.%20Group's%20Operating%20Performance) In H1 2025, the company's operations progressed steadily, achieving significant growth in both operating revenue and net profit attributable to owners of the parent, with the H-share listing raising capital for global expansion and product portfolio optimization, and all major business segments maintaining growth - The company's H-shares were listed on the Main Board of the Hong Kong Stock Exchange, raising capital for global expansion and optimizing the product portfolio[32](index=32&type=chunk) Operating Performance for H1 2025 | Indicator | H1 2025 (RMB million) | YoY Growth (%) | | :--- | :--- | :--- | | Operating Revenue | 32,960.16 | 14.18% | | Net Profit Attributable to Owners of the Parent | 1,142.69 | 32.68% | | Net Profit Attributable to Owners of the Parent (Excluding Non-recurring Items) | 940.08 | 41.85% | | Basic Earnings Per Share | RMB 0.23 | 35.29% | [1. Smart Devices and Computers](index=16&type=section&id=1.%20Smart%20Devices%20and%20Computers) This business segment achieved significant revenue growth, with the company solidifying its leading position in the market for appearance parts, structural components, and functional modules, and successfully mass-producing metal frames for multiple high-end models Revenue from Smart Devices and Computers Business | Business Segment | H1 2025 Revenue (RMB million) | YoY Growth (%) | | :--- | :--- | :--- | | Smart Devices and Computers | 27,184.82 | 13.19% | - The company solidified its leading position in the market for appearance parts, structural components, and functional modules, including glass, ceramics, sapphire, and metal[32](index=32&type=chunk) - In collaboration with leading clients, the company mass-produced metal frames for several new high-end models, achieving rapid growth in market share and profitability[32](index=32&type=chunk) [2. Smart Automotive and Cockpit](index=17&type=section&id=2.%20Smart%20Automotive%20and%20Cockpit) Revenue from smart automotive and cockpit business grew, with core product lines achieving synergistic volume production, and ultra-thin laminated car window glass successfully integrated into new vehicle models of leading automakers Revenue from Smart Automotive and Cockpit Business | Business Segment | H1 2025 Revenue (RMB million) | YoY Growth (%) | | :--- | :--- | :--- | | Smart Automotive and Cockpit | 3,164.66 | 16.45% | - Core product lines such as central control modules, smart B/C pillars, charging piles, cockpit decorative parts, and wireless charging modules achieved synergistic volume production, with communication modules and domain controllers realizing batch delivery[33](index=33&type=chunk) - Ultra-thin laminated car window glass was successfully integrated into the mass production system of new models for leading domestic automakers, with capacity expansion initiated based on customer demand[33](index=33&type=chunk) [3. Smart Head-mounted Displays and Wearables](index=17&type=section&id=3.%20Smart%20Head-mounted%20Displays%20and%20Wearables) Revenue from smart head-mounted displays and wearables grew, with the company achieving breakthroughs in core processes such as optical waveguide lens yield optimization and high-precision automated assembly, and successfully mass-producing AI glasses Revenue from Smart Head-mounted Displays and Wearables Business | Business Segment | H1 2025 Revenue (RMB million) | YoY Growth (%) | | :--- | :--- | :--- | | Smart Head-mounted Displays and Wearables | 1,646.55 | 14.74% | - Breakthroughs were achieved in core process areas such as optical waveguide lens yield optimization and high-precision automated assembly[34](index=34&type=chunk) - Successfully achieved large-scale mass production and delivery of complete AI glasses for leading domestic clients[34](index=34&type=chunk) [4. Other Smart Terminals](index=17&type=section&id=4.%20Other%20Smart%20Terminals) Revenue from other smart terminals achieved significant growth, with substantial progress in collaborations with leading domestic and international embodied AI enterprises, and batch delivery of core components and complete machine assembly Revenue from Other Smart Terminals Business | Business Segment | H1 2025 Revenue (RMB million) | YoY Growth (%) | | :--- | :--- | :--- | | Other Smart Terminals | 363.61 | 128.2% | - Substantial progress was made in collaborations with leading domestic and international embodied AI enterprises, achieving batch delivery of core components such as joint modules, dexterous hands, and exoskeleton devices, as well as complete machine assembly[35](index=35&type=chunk) - Revenue from the smart retail product line significantly increased year-on-year, forming diversified growth engines[35](index=35&type=chunk) [III. Financial Review](index=18&type=section&id=III.%20Financial%20Review) This section provides a detailed review of changes in various financial indicators during the reporting period, including revenue, gross profit, expenses, net other gains and losses, reversal of impairment losses, and income tax expense, along with explanations for key variations [Revenue](index=18&type=section&id=Revenue_Financial%20Review) Total revenue increased by **14.18%** year-on-year during the reporting period, primarily driven by comprehensive growth across smart devices and computers, smart automotive and cockpit, smart wearables, and other smart terminal businesses Revenue Growth Details | Business Segment | H1 2025 Revenue (RMB million) | YoY Growth (%) | | :--- | :--- | :--- | | Total Revenue | 32,960.16 | 14.18% | | Smart Devices and Computers | Increased by 3,168.89 | 13.19% | | Smart Automotive and Cockpit | Increased by 447.13 | 16.45% | | Smart Head-mounted Displays and Wearables | Increased by 211.54 | 14.74% | | Other Smart Terminals | Increased by 204.27 | 128.2% | [Gross Profit and Gross Margin](index=18&type=section&id=Gross%20Profit%20and%20Gross%20Margin_Financial%20Review) Gross profit increased by **17.82%** year-on-year during the reporting period, with gross margin improving by **0.40 percentage points** to **13.06%**, reflecting enhanced profitability Changes in Gross Profit and Gross Margin | Indicator | H1 2025 (RMB million) | H1 2024 (RMB million) | YoY Growth (%) | | :--- | :--- | :--- | | Gross Profit | 4,304.61 | 3,653.66 | 17.82% | | Gross Margin | 13.06% | 12.66% | 0.40pp | [Other Income](index=18&type=section&id=Other%20Income_Financial%20Review) Other income increased by **10.13%** year-on-year during the reporting period, primarily due to an increase in government grants Changes in Other Income | Indicator | H1 2025 (RMB million) | H1 2024 (RMB million) | YoY Growth (%) | | :--- | :--- | :--- | | Other Income | 310.46 | 281.91 | 10.13% | - Primarily due to an increase in **government grants**[39](index=39&type=chunk) [Selling Expenses](index=18&type=section&id=Selling%20Expenses_Financial%20Review) Selling expenses decreased by **10.91%** year-on-year during the reporting period, primarily due to reductions in intermediary service fees, sample and packaging costs, and sorting fees Changes in Selling Expenses | Indicator | H1 2025 (RMB million) | H1 2024 (RMB million) | YoY Change (%) | | :--- | :--- | :--- | | Selling Expenses | 281.77 | 316.29 | -10.91% | - Primarily due to a decrease in intermediary service fees, sample and packaging costs, and sorting fees[40](index=40&type=chunk) [Administrative Expenses](index=19&type=section&id=Administrative%20Expenses_Financial%20Review) Administrative expenses increased by **5.31%** year-on-year during the reporting period, primarily due to higher staff remuneration and professional service fees Changes in Administrative Expenses | Indicator | H1 2025 (RMB million) | H1 2024 (RMB million) | YoY Growth (%) | | :--- | :--- | :--- | | Administrative Expenses | 1,568.07 | 1,489.01 | 5.31% | - Primarily due to an increase in staff remuneration and professional service fees[41](index=41&type=chunk) [Research and Development Expenses](index=19&type=section&id=Research%20and%20Development%20Expenses_Financial%20Review) Research and development expenses increased by **29.15%** year-on-year during the reporting period, primarily due to increased investment in R&D for new projects, products, and areas Changes in Research and Development Expenses | Indicator | H1 2025 (RMB million) | H1 2024 (RMB million) | YoY Growth (%) | | :--- | :--- | :--- | | Research and Development Expenses | 1,643.86 | 1,272.82 | 29.15% | - Primarily due to increased R&D investment in new projects, new products, and new areas[42](index=42&type=chunk) [Finance Costs](index=19&type=section&id=Finance%20Costs_Financial%20Review) Finance costs decreased by **21.50%** year-on-year during the reporting period, primarily due to the repayment of certain bank loans, including both long-term and short-term borrowings Changes in Finance Costs | Indicator | H1 2025 (RMB million) | H1 2024 (RMB million) | YoY Change (%) | | :--- | :--- | :--- | | Finance Costs | 155.86 | 198.55 | -21.50% | - Primarily due to the repayment of certain bank loans, including both long-term and short-term borrowings[43](index=43&type=chunk) [Net Other Gains and Losses](index=19&type=section&id=Net%20Other%20Gains%20and%20Losses_Financial%20Review) Net other gains and losses increased by **96.90%** year-on-year during the reporting period, primarily due to increased net foreign exchange gains from USD to RMB settlements Changes in Net Other Gains and Losses | Indicator | H1 2025 (RMB million) | H1 2024 (RMB million) | YoY Growth (%) | | :--- | :--- | :--- | | Net Other Gains and Losses | 255.14 | 129.58 | 96.90% | - Primarily due to increased net foreign exchange gains from USD to RMB settlements[44](index=44&type=chunk) [Net Reversal of Impairment Losses under Expected Credit Loss Model](index=19&type=section&id=Net%20Reversal%20of%20Impairment%20Losses%20under%20Expected%20Credit%20Loss%20Model) Net reversal of impairment losses significantly increased by **1,483.75%** during the reporting period, primarily due to higher collection amounts compared to the prior period Changes in Net Reversal of Impairment Losses | Indicator | H1 2025 (RMB million) | H1 2024 (RMB million) | YoY Growth (%) | | :--- | :--- | :--- | | Net Reversal of Impairment Losses | 25.34 | 1.60 | 1,483.75% | - Primarily due to an increase in collection amounts compared to the prior period[45](index=45&type=chunk) [Income Tax Expense](index=19&type=section&id=Income%20Tax%20Expense_Financial%20Review) Income tax expense for the period was **RMB 51.37 million**, compared to an income tax benefit in the prior period, primarily due to increased profit before tax Changes in Income Tax Expense (Benefit) | Indicator | H1 2025 (RMB million) | H1 2024 (RMB million) | | :--- | :--- | :--- | | Income Tax Expense (Benefit) | 51.37 (Expense) | (93.56) (Benefit) | - Primarily due to an increase in **profit before tax**[46](index=46&type=chunk) [Cash Flow Analysis](index=20&type=section&id=Cash%20Flow%20Analysis) Net cash from operating activities significantly increased during the reporting period, while net cash used in investing and financing activities also increased, reflecting the impact of revenue growth, increased accounts receivable collection, asset purchases, and no new borrowings [Net Cash Generated from Operating Activities](index=20&type=section&id=Net%20Cash%20Generated%20from%20Operating%20Activities) Net cash generated from operating activities increased by **28.43%** year-on-year during the reporting period, primarily due to increased revenue and higher collection of opening trade receivables Changes in Net Cash Generated from Operating Activities | Indicator | H1 2025 (RMB million) | H1 2024 (RMB million) | YoY Growth (%) | | :--- | :--- | :--- | | Net Cash Generated from Operating Activities | 4,325.28 | 3,367.72 | 28.43% | - Primarily due to increased revenue and higher collection of opening trade receivables[47](index=47&type=chunk) [Net Cash Used in Investing Activities](index=20&type=section&id=Net%20Cash%20Used%20in%20Investing%20Activities) Net cash used in investing activities increased by **109.28%** year-on-year during the reporting period, primarily due to increased payments for property, plant, and equipment and purchases of structured deposits Changes in Net Cash Used in Investing Activities | Indicator | H1 2025 (RMB million) | H1 2024 (RMB million) | YoY Growth (%) | | :--- | :--- | :--- | | Net Cash Used in Investing Activities | 5,020.38 | 2,398.91 | 109.28% | - Primarily due to increased payments for property, plant, and equipment and purchases of structured deposits[48](index=48&type=chunk) [Net Cash Used in Financing Activities](index=20&type=section&id=Net%20Cash%20Used%20in%20Financing%20Activities) Net cash used in financing activities increased by **19.62%** year-on-year during the reporting period, primarily due to no new borrowings raised in the current period Changes in Net Cash Used in Financing Activities | Indicator | H1 2025 (RMB million) | H1 2024 (RMB million) | YoY Growth (%) | | :--- | :--- | :--- | | Net Cash Used in Financing Activities | 4,205.50 | 3,515.57 | 19.62% | - Primarily due to no new borrowings raised in the current period[49](index=49&type=chunk) [Liquidity and Sources of Working Capital](index=20&type=section&id=Liquidity%20and%20Sources%20of%20Working%20Capital) The Group's primary sources of liquidity are cash generated from operating activities and bank borrowings; as of June 30, 2025, current assets decreased, and the current ratio declined to approximately **1.11**, but the company is committed to maintaining optimal liquidity to meet operational needs - Primary sources of liquidity include cash generated from operating activities and bank borrowings[50](index=50&type=chunk) Liquidity Position | Indicator | June 30, 2025 (RMB million) | December 31, 2024 (RMB million) | Change | | :--- | :--- | :--- | :--- | | Current Assets | 24,677.82 | 30,772.78 | Decrease | | Current Ratio | 1.11 | 1.33 | Decline | [Foreign Exchange Risk Management](index=21&type=section&id=Foreign%20Exchange%20Risk%20Management) The company manages foreign exchange risk by closely monitoring foreign currency exchange rate fluctuations and may employ hedging instruments such as derivatives; net foreign exchange gains of **RMB 167.97 million** were recorded during the reporting period - The company manages foreign exchange risk by closely monitoring foreign currency exchange rate fluctuations and may employ hedging instruments such as forward, option, and swap contracts[51](index=51&type=chunk) - Net foreign exchange gains of **RMB 167.97 million** were recorded during the reporting period[51](index=51&type=chunk) [Contingent Liabilities](index=21&type=section&id=Contingent%20Liabilities) As of June 30, 2025, the company had no material contingent liabilities, guarantees, or pending litigations - As of **June 30, 2025**, there were no material contingent liabilities, guarantees, or any pending or threatened material litigation or claims against any member of the Group[52](index=52&type=chunk) [Capital Expenditure and Commitments](index=21&type=section&id=Capital%20Expenditure%20and%20Commitments) Capital expenditure for the period was approximately **RMB 4,297.12 million**, primarily for the purchase of property, plant, and equipment and land leases; as of June 30, 2025, total capital commitments were approximately **RMB 2,640.37 million** Capital Expenditure | Indicator | H1 2025 (RMB million) | H1 2024 (RMB million) | | :--- | :--- | :--- | | Capital Expenditure | 4,297.12 | 2,936.65 | Capital Commitments | Indicator | June 30, 2025 (RMB million) | December 31, 2024 (RMB million) | | :--- | :--- | :--- | | Total Capital Commitments | 2,640.37 | 2,217.42 | [Non-IFRS Measures](index=22&type=section&id=Non-IFRS%20Measures) The company uses adjusted profit for the period and adjusted net profit margin as non-IFRS measures to better compare operating performance across different periods; adjusted profit for H1 2025 was **RMB 1,224.2 million**, with an adjusted net profit margin of **3.7%** - The company uses adjusted profit for the period and adjusted net profit margin as non-IFRS measures to eliminate the impact of non-cash items such as share-based payments, aiding in the understanding and evaluation of interim financial information[55](index=55&type=chunk) Non-IFRS Measures | Indicator | January-June 2025 (RMB thousand) | January-June 2024 (RMB thousand) | | :--- | :--- | :--- | | Profit for the Period | 1,194,275 | 880,945 | | Add: Share-based Payments | 29,967 | 94,412 | | **Adjusted Profit for the Period** | **1,224,242** | **975,357** | | **Adjusted Net Profit Margin** | **3.7%** | **3.4%** | [IV. Prospects and Outlook](index=23&type=section&id=IV.%20Prospects%20and%20Outlook) [Prospects and Outlook Overview](index=23&type=section&id=Prospects%20and%20Outlook_Overview) The company will seize AI-driven smart terminal upgrade opportunities, deepen precision manufacturing and material innovation, continuously expand business boundaries in smart devices, smart automotive, smart wearables, and other smart terminal sectors, and build diversified growth engines through global layout, vertical integration, and technological R&D - The company is seizing the opportunity of the AI-driven smart terminal upgrade wave, deeply empowering the edge-side model hardware ecosystem with precision manufacturing and material innovation[58](index=58&type=chunk) - In the future, the company will continue to deepen its global production capacity layout, accelerate overseas base construction leveraging its Hong Kong listing; strengthen its vertical integration advantages in materials, modules, and complete machines; and enrich its high-value-added product matrix[59](index=59&type=chunk) - R&D will focus on cutting-edge areas such as full-color optical waveguides, lightweight new metal materials, and core technologies for smart terminals[59](index=59&type=chunk) [1. Smart Devices Sector](index=23&type=section&id=1.%20Smart%20Devices%20Sector) Leveraging its deep technical expertise in foldable screen UTG and mass production capabilities, the company innovatively launched a multi-layer structural design to effectively eliminate creases, and is benefiting from the rapid increase in demand for new 3D glass - Leveraging deep technical expertise in foldable screen UTG and mass production capabilities, the company innovatively launched a multi-layer structural design for foldable screens, effectively eliminating creases and enhancing screen flatness[58](index=58&type=chunk) - Demand for new 3D glass is rapidly increasing, with high growth expected in the coming years, and the company will continue to benefit from the incremental opportunities brought by this round of technological innovation[58](index=58&type=chunk) [2. Smart Cockpit Sector](index=23&type=section&id=2.%20Smart%20Cockpit%20Sector) The company has established collaborations with over **30 leading domestic and international automotive enterprises**, expanding its automotive business boundaries, achieving new business breakthroughs in automotive communication modules and domain controllers, with ultra-thin laminated glass expected to bring significant incremental growth - Collaborations have been established with over **30 leading domestic and international automotive enterprises**, including major North American clients, expanding automotive business boundaries and achieving new business breakthroughs in automotive communication modules and domain controllers[58](index=58&type=chunk) - The developed automotive ultra-thin laminated glass features lightweight, sound insulation, heat insulation, HUD projection, and photochromic shading functions, which will continue to bring significant incremental growth to the company's automotive business[58](index=58&type=chunk) [3. Smart Wearables Sector](index=23&type=section&id=3.%20Smart%20Wearables%20Sector) As a complete machine assembly partner for renowned domestic clients, the company covers the entire production process from optical lenses and functional modules to complete machines, applying core technologies such as self-developed nanocrystalline glass, with future optical modules and optical waveguide lenses expected to be gradually introduced and achieve volume production - As a complete machine assembly partner for renowned domestic clients, the company covers the entire production process from optical lenses and functional modules to complete machines[58](index=58&type=chunk) - Applying core technologies such as self-developed nanocrystalline glass, product performance and lightweighting levels are significantly enhanced[58](index=58&type=chunk) - It is expected that the gradual introduction and volume production of the company's optical-related modules and optical waveguide lenses will effectively address industry bottlenecks in the future[58](index=58&type=chunk) [4. Other Smart Terminals Sector](index=24&type=section&id=4.%20Other%20Smart%20Terminals%20Sector) The company is collaborating with clients to establish an embodied AI innovation center, aiming to build China's largest core manufacturing platform for embodied AI hardware, and continuously expanding into the smart retail payment terminal market to strengthen diversified growth contributions - Collaborating with clients to establish an embodied AI innovation center, focusing on core R&D for data acquisition and secondary development, key modules such as joint motors, and iterative motion control algorithms[59](index=59&type=chunk) - The goal is to build China's largest highly vertically integrated core manufacturing platform for embodied AI hardware[59](index=59&type=chunk) - Continuously expanding into the smart retail payment terminal market, strengthening diversified growth contributions[59](index=59&type=chunk) [Other Important Information](index=24&type=section&id=Other%20Important%20Information) [Material Investments and Material Acquisitions and Disposals of Subsidiaries, Associates, and Joint Ventures](index=24&type=section&id=Material%20Investments%20and%20Material%20Acquisitions%20and%20Disposals%20of%20Subsidiaries%2C%20Associates%2C%20and%20Joint%20Ventures) As of the date of this announcement, the company has no other material future plans for investments and capital assets beyond those disclosed in the prospectus and this announcement, nor were there any material acquisitions or disposals of subsidiaries, associates, and joint ventures during the reporting period - As of the date of this announcement, the company has no other material future plans regarding material investments and capital assets[60](index=60&type=chunk) - During the reporting period, the company had no material investments and/or material acquisitions or disposals of subsidiaries, associates, and joint ventures[61](index=61&type=chunk) [Corporate Governance](index=24&type=section&id=Corporate%20Governance) The company is committed to maintaining high standards of corporate governance, having adopted the Corporate Governance Code in Appendix C1 of the Hong Kong Listing Rules; while the H-shares were not listed during the reporting period and the code was not applicable, it has been complied with since the listing date, with two deviations: the roles of Chairman and Chief Executive Officer are not segregated, and management reports business progress quarterly - The company has adopted all applicable code provisions of the **Corporate Governance Code** as set out in Appendix C1 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited[62](index=62&type=chunk) - Since the H-share listing date (**July 9, 2025**), the company has complied with all applicable code provisions in Part 2 of the Corporate Governance Code, with two deviations: the roles of Chairman and Chief Executive Officer are not segregated, and management reports business progress quarterly[63](index=63&type=chunk)[64](index=64&type=chunk)[65](index=65&type=chunk) [Standard Code for Securities Transactions by Directors](index=25&type=section&id=Standard%20Code%20for%20Securities%20Transactions%20by%20Directors) The company has adopted the Standard Code in Appendix C3 of the Listing Rules; while the H-shares were not listed during the reporting period and the code was not applicable, all Directors and Supervisors have confirmed compliance with the Standard Code's provisions since the listing date - The company has adopted the **Standard Code** as set out in Appendix C3 of the Listing Rules as the code of conduct for securities transactions by Directors and Supervisors[66](index=66&type=chunk) - Since the H-share listing date, each Director and Supervisor has confirmed compliance with the standards set out in the Standard Code[67](index=67&type=chunk) [Significant Events After the Reporting Period](index=26&type=section&id=Significant%20Events%20After%20the%20Reporting%20Period_Other) Except for the H-share listing and share issuance disclosed in Note 17 to the condensed consolidated financial statements, there were no other significant events affecting the Group from the end of the reporting period to the date of this announcement - Save as disclosed in Note 17 to the condensed consolidated financial statements, there were no other significant events affecting the Group from the end of the reporting period to the date of this announcement[68](index=68&type=chunk) [Use of Proceeds from Global Offering](index=26&type=section&id=Use%20of%20Proceeds%20from%20Global%20Offering) The company's H-share global offering has successfully listed, with net proceeds after expenses of approximately **HKD 5,404.52 million** (equivalent to approximately **RMB 4,924.27 million**), which will be used as stated in the prospectus, with no changes to the proposed use currently - Net proceeds from the company's H-share global offering amounted to approximately **HKD 5,404.52 million** (equivalent to approximately **RMB 4,924.27 million**)[69](index=69&type=chunk) - The net proceeds will be used as stated in the prospectus, with no changes to the proposed use currently[69](index=69&type=chunk)[70](index=70&type=chunk) [2025 Interim Dividend](index=26&type=section&id=2025%20Interim%20Dividend) The Board approved the 2025 interim profit distribution plan, proposing a cash dividend of **RMB 1.00 per 10 shares** (tax inclusive), totaling an estimated **RMB 526,022,760.40**, representing **46.03%** of H1 net profit; H-share dividends will be paid in HKD at a specific exchange rate, with detailed tax relief and withholding arrangements for A-share and H-share shareholders - The Board approved the 2025 interim profit distribution plan: a cash dividend of **RMB 1.00 per 10 shares** (tax inclusive)[73](index=73&type=chunk) 2025 Interim Dividend Distribution Details | Indicator | Amount | | :--- | :--- | | H1 2025 Net Profit Attributable to Owners of the Parent | RMB 1,142,689,297.22 | | Actual Distributable Profits to Shareholders | RMB 14,464,160,992.29 | | Estimated Total Cash Dividend | RMB 526,022,760.40 | | Percentage of H1 2025 Unaudited Net Profit | 46.03% | - H-share dividends will be calculated based on the average benchmark exchange rate of RMB to HKD published by the People's Bank of China for the five working days preceding the Board meeting (**RMB 0.91274 to HKD 1.00**), resulting in an interim dividend of **HKD 1.0956 per 10 H-shares** (tax inclusive)[74](index=74&type=chunk) [I. Distributable Profits](index=26&type=section&id=I.%20Distributable%20Profits) The company achieved a net profit attributable to shareholders of **RMB 1,142,689,297.22** in H1 2025, with actual distributable profits to shareholders totaling **RMB 14,464,160,992.29** as of June 30, 2025 - The company achieved a net profit attributable to shareholders of **RMB 1,142,689,297.22** in H1 2025[71](index=71&type=chunk) - As of **June 30, 2025**, the company's actual distributable profits to shareholders amounted to **RMB 14,464,160,992.29**[72](index=72&type=chunk) [II. Distribution Plan](index=27&type=section&id=II.%20Distribution%20Plan) The company's 2025 interim profit distribution plan proposes a cash dividend of **RMB 1.00 per 10 shares** (tax inclusive) to all shareholders, with an estimated total cash dividend of **RMB 526,022,760.40**, representing **46.03%** of H1 net profit - The company's 2025 interim profit distribution plan proposes a cash dividend of **RMB 1.00 per 10 shares** (tax inclusive) to all shareholders[73](index=73&type=chunk) - The estimated total cash dividend is **RMB 526,022,760.40**, representing **46.03%** of the company's unaudited net profit for H1 2025[73](index=73&type=chunk) - The H-share interim dividend is **HKD 1.0956 per 10 shares** (tax inclusive), calculated at an average benchmark exchange rate of **RMB 0.91274 to HKD 1.00**[74](index=74&type=chunk) [III. Suspension of H-share Transfer Registration for 2025 Interim Dividend Distribution](index=28&type=section&id=III.%20Suspension%20of%20H-share%20Transfer%20Registration%20for%202025%20Interim%20Dividend%20Distribution) To determine eligibility for the 2025 interim dividend, H-share transfer registration will be suspended from **September 18 to September 23, 2025**, with the record date being **September 23, 2025** - To determine eligibility for the 2025 interim dividend, H-share transfer registration will be suspended from **September 18 to September 23, 2025**[75](index=75&type=chunk) - The record date is **September 23, 2025**, and H-share shareholders must complete transfer registration by **4:30 p.m. on September 17, 2025**[75](index=75&type=chunk) [IV. Tax Relief](index=28&type=section&id=IV.%20Tax%20Relief) This section details dividend tax relief and withholding arrangements for overseas non-resident enterprise and individual H-share shareholders, Shenzhen-Hong Kong Stock Connect investors, and Shanghai-Hong Kong Stock Connect H-share investors - For overseas non-resident enterprise H-share shareholders, the company is required to withhold and pay enterprise income tax at a **10% rate**[76](index=76&type=chunk) - For overseas individual H-share shareholders, the company will withhold and pay individual income tax at a **10% rate**, and provide assistance for tax refund applications based on tax treaties[77](index=77&type=chunk) - Dividends for Shenzhen-Hong Kong Stock Connect investors are subject to a **10% income tax withholding** by the company, with eligible investors under tax treaties able to apply for tax refunds[79](index=79&type=chunk)[80](index=80&type=chunk) - Dividends for Shanghai-Hong Kong Stock Connect H-share investors are distributed in RMB, with mainland individual investors and securities investment funds subject to a **20% individual income tax withholding**, while mainland enterprise investors declare and pay taxes themselves[81](index=81&type=chunk) [Purchases, Sales or Redemptions of the Company's Listed Securities](index=31&type=section&id=Purchases%2C%20Sales%20or%20Redemptions%20of%20the%20Company's%20Listed%20Securities) During the reporting period, the company cumulatively repurchased **322,600 A-shares** through centralized bidding, totaling **RMB 7,267,695**, for employee stock ownership or equity incentive plans, and concurrently repurchased and cancelled **107,100 restricted A-shares** from **45 incentive recipients** - The company cumulatively repurchased **322,600 A-shares** through centralized bidding, representing **0.006474%** of the total A-share capital, with a total payment of **RMB 7,267,695**, for employee stock ownership or equity incentive plans[83](index=83&type=chunk) - The company repurchased and cancelled a total of **107,100 restricted A-shares** of the first category, which were granted but not yet vested, from **45 incentive recipients** who no longer met the incentive qualifications[84](index=84&type=chunk) [Publication of 2025 Interim Results and H-share Interim Report](index=32&type=section&id=Publication%20of%202025%20Interim%20Results%20and%20H-share%20Interim%20Report) The 2025 interim results announcement has been published on the HKEXnews website and the company's website, and the H-share interim report will be displayed on these websites and dispatched to shareholders who have requested printed copies in due course - The 2025 interim results announcement has been published on the **HKEXnews website (www.hkexnews.hk)** and the **company's website (www.hnlens.com)**[85](index=85&type=chunk) - The H-share interim report will be displayed on the aforementioned websites in due course and dispatched to shareholders who have requested printed copies[85](index=85&type=chunk)

Core Insights - The Apple-related stocks in Hong Kong have seen a rise, with notable increases in companies such as AAC Technologies up over 4% and BYD Electronics up 2.5% [1] - Bank of America has indicated that the inventory for the iPhone 17 series is expected to exceed 90 million units in the second half of 2025, remaining consistent with last year's forecast of 90-95 million units [1] - Concerns regarding a year-on-year decline in inventory of 5%-10% have diminished due to easing tariff pressures on Apple products [1] - The Apple supply chain is entering a significant upgrade cycle for 2025-2026, with attention on new model inventory, specification upgrades, and stock performance [1] Company Performance - AAC Technologies: Latest price at 45.580, with a rise of 4.25% [1] - BYD Electronics: Latest price at 38.160, with a rise of 2.53% [1] - Sunny Optical Technology: Latest price at 81.100, with a rise of 2.33% [1] - Hon Teng Technology: Latest price at 5.020, with a rise of 2.03% [1] - Tongda Group: Latest price at 0.116, with a rise of 1.75% [1] - Lens Technology: Latest price at 23.980, with a rise of 1.44% [1] - Q Tech: Latest price at 15.100, with a rise of 0.80% [1] - East Joy Long Holdings: Latest price at 2.630, with a rise of 0.77% [1]

Core Viewpoint - Lens Technology (06613) has seen a significant stock price increase, reaching a new high since its listing, driven by its advantages in emerging fields such as foldable iPhones, automotive, smart glasses, and robotics [1] Group 1: Company Performance - The stock price of Lens Technology rose over 5%, peaking at 25 HKD, and currently trading at 24.72 HKD with a transaction volume of 286 million HKD [1] - Analysts from Bank of America expect the company to benefit from iPhone specification upgrades, with applications of anti-reflective coatings, 3D glass, and ultra-thin flexible glass (UTG) likely to enhance average selling prices [1] Group 2: Market Position and Growth Potential - Credit Suisse highlighted that Lens Technology is a major supplier of glass covers and metal casings for Apple, benefiting from increased average selling prices, market share expansion, and trends in foldable iPhones and 3D glass [1] - The company is also a key supplier for Tesla's smart cockpit and is expanding into Xiaomi's automotive window glass sector, while collaborating with industry leaders to venture into humanoid robots and AI-enhanced AR glasses [1] - The forecast for Lens Technology indicates a compound annual growth rate (CAGR) of 18% in revenue from 2024 to 2027, driven by increased market share in smartphones and computers, diversification in automotive products, and expansion into emerging fields [1]

Core Viewpoint - The stock of Lens Technology (06613) has reached a new high since its listing, driven by positive market sentiment and expectations of growth in emerging sectors such as foldable iPhones, automotive, smart glasses, and robotics [1] Group 1: Company Performance - Lens Technology's stock price increased over 5% during trading, peaking at 25 HKD, marking a new high since its IPO [1] - As of the latest update, the stock is trading at 24.72 HKD with a transaction volume of 286 million HKD [1] Group 2: Market Opportunities - Bank of America Securities highlights the company's advantages in emerging fields, anticipating benefits from iPhone specification upgrades and the application of anti-reflective coatings, 3D glass, and ultra-thin flexible glass (UTG) which are expected to enhance average selling prices [1] - Credit Lyonnais notes that Lens Technology is a key supplier of glass covers and metal casings for Apple, benefiting from increased average selling prices, market share expansion, and trends in foldable iPhones and 3D glass [1] Group 3: Future Growth Projections - The company is projected to achieve a compound annual growth rate (CAGR) of 18% in revenue from 2024 to 2027, driven by increased market share in smartphones and computers, diversification in automotive products, and expansion into emerging sectors [1] - Lens Technology is also a critical supplier for Tesla's smart cockpit and is expanding into Xiaomi's automotive glass market, while collaborating with industry leaders in humanoid robotics and AI-enhanced reality (AR) glasses [1]

Core Viewpoint - Apple is entering mass production of the iPhone 17, with significant upgrades expected in various components, which may enhance its market value and sales potential [1][3]. Group 1: Product Launch and Features - The iPhone 17 series is expected to be officially announced on September 9, with pre-orders starting on September 12 and sales commencing on September 19 [1]. - The iPhone 17 lineup will include the iPhone 17 Air, iPhone 17, iPhone 17 Pro, and iPhone 17 Pro Max, replacing the Plus model with the Air variant [1]. - The flagship iPhone 17 Pro will feature seven core upgrades, including the new A19 Pro chip, enhanced camera systems, and increased RAM to 12GB, which is a 50% increase from the previous model [2]. Group 2: Pricing and Market Expectations - The iPhone 17 series is expected to see an overall price increase of approximately $50 compared to the previous generation, with the iPhone 17 Pro starting at $1,049 and the Pro Max at around $1,249 [3]. - Analysts predict that if the iPhone 17 series performs well at launch, the total iPhone shipments could reach 78 million units during the 2025 shopping season [3]. Group 3: Related Companies and Supply Chain - BOE Technology Group (京东方精电) has entered the iPhone 17 Pro supply chain, exclusively providing OLED panels for the Chinese market, with an annual capacity of 100 million units [4]. - GoerTek (高伟电子) is a key supplier for Apple, providing front camera modules for iPhones and iPads, with over 90% of its revenue coming from Apple [4]. - BYD Electronics (比亚迪电子) is a leading high-end manufacturing company providing casings and assembly services for Apple products [4]. - Lens Technology (蓝思科技) is a major supplier of glass covers and metal casings for Apple, benefiting from increased average selling prices and market share expansion [4]. - AAC Technologies (瑞声科技) will supply thermal management modules for the iPhone 17 Pro series, enhancing heat dissipation performance [4]. - Hon Teng Precision (鸿腾精密), a subsidiary of Foxconn, is an important part of Apple's supply chain, providing connectors and charging modules, and has also entered the AirPods assembly business [4].

藍 思 科 技 股 份 有 限 公 司 (A joint stock company incorporated in the People's Republic of China with limited liability) （ 於中華人民共和國註冊成立的股份有限公司） (股份代號 Stock Code: 6613) 20 August 2025 Dear non-registered H shareholder(s), Arrangement of Electronic Dissemination of Corporate Communications Pursuant to Rule 2.07A of the Rules Governing The Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Stock Exchange") under the expansion of paperless listing regime and electronic dissemination of corporate co ...