Core Viewpoint - Recent tariff pressures have eased, suggesting a focus on AI edge applications and automotive intelligence as key innovation themes, with optimism for recovery in the consumer electronics sector [1] Group 1: Terminal Market Trends and Innovations - Q1 smartphone shipments grew by 1.5% year-on-year, with a focus on tariffs, AI innovations, and national subsidies impacting sales throughout the year [2] - Q1 global PC shipments increased by 4.9% year-on-year, driven by pre-emptive shipments to counter tariffs and the transition to Windows 10, alongside AI innovations [3] - AI glasses shipments reached 600,000 units in Q1, a 216% year-on-year increase, primarily driven by Meta's Rayban glasses [3] - Q1 VRMR demand showed a decline of 23%, with AR growth mainly driven by AI+AR glasses expected to launch in the second half of the year [4] - Q1 TV shipments saw a slight increase of 1.2% year-on-year, with expectations for continued growth in Q2, supported by domestic market demand [4] - Domestic automotive sales increased by 11% year-on-year in Q1, with minimal impact from tariffs, and a focus on advancements in intelligent driving technology [5] - Tesla's Optimus robot project is progressing well, with expectations to deploy thousands of units in factories by the end of the year [6] Group 2: Supply Chain and Component Innovations - Apple expects a single-digit revenue increase in Q2, with tariffs leading to a $900 million cost increase, while also focusing on new product launches from Huawei and Xiaomi [7] - Recent easing of US-China tariff negotiations has provided a turning point for the industry, with optimism for AI cloud-side innovations in the medium to long term [8] - Domestic SoC companies showed high performance in Q1, with overseas giants accelerating their AI edge application layouts [9] - The optical component sector is seeing innovation trends such as periscope lenses and large-format sensors, driven by the demand for intelligent driving applications [10] - The PCB industry reported a 24.5% year-on-year revenue increase in Q1, with expectations for continued growth in Q2, driven by AI and automotive electronics [14] Group 3: Investment Recommendations - Focus on high-quality companies benefiting from hardware innovations and AI-driven growth in the Apple supply chain, with a positive outlook for the next three years [17] - Domestic Android brands are less affected by tariffs, with potential sales boosts from AI innovations and subsidy policies [18] - The AI application sector is expected to drive significant growth across various electronic segments, including smartphones, PCs, wearables, and automotive [19] - The automotive sector is entering a rapid development phase, with significant opportunities arising from advancements in intelligent driving technologies [20]

立讯精密工业股份有限公司 关于"立讯转债"回售的第二次提示性公告 本公司及监事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 | 证券代码：002475 | 证券简称：立讯精密 公告编号：2025-066 | | --- | --- | | 债券代码：128136 | 债券简称：立讯转债 | 特别提示： 1、投资者回售选择权：根据《立讯精密工业股份有限公司公开发行可转换公司 债券募集说明书》（以下简称《募集说明书》）的约定，"立讯转债"持有人可回售 部分或者全部未转股的"立讯转债"。"立讯转债"持有人有权选择是否进行回售， 本次回售不具有强制性。 2、回售价格：100.981 元/张（含息税） 3、回售条件触发日：2025 年 5 月 19 日 4、回售申报期：2025 年 5 月 22 日至 2025 年 5 月 28 日 5、发行人资金到账日：2025 年 6 月 3 日 6、回售款划拨日：2025 年 6 月 4 日 7、投资者回售款到账日：2025 年 6 月 5 日 8、回售申报期间"立讯转债"将暂停转股 9、在回售资金发放日之前，如持有的本期债券发生司法冻结或 ...

| 证券代码：002475 | 证券简称：立讯精密 | 公告编号：2025-065 | | --- | --- | --- | | 债券代码：128136 | 债券简称：立讯转债 | | 股票期权的公告》（2025-061）。 2025 年 5 月 21 日，经中国证券登记结算有限责任公司深圳分公司审核确认， 上述 6,003,864 份股票期权的注销事宜已办理完成。 立讯精密工业股份有限公司 关于部分股票期权注销完成的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记 载、误导性陈述或重大遗漏。 立讯精密工业股份有限公司（以下简称"公司"）于 2025 年 4 月 27 日召开了 第六届董事会第十二次会议和第六届监事会第十一次会议，以及 2025 年 5 月 16 日 召开了第六届董事会第十三次会议和第六届监事会第十二次会议，分别审议通过了 《关于调整 2022 年股票期权激励计划行权数量及注销部分股票期权的议案》《关于 注销公司股票期权激励计划已解锁但到期未行权股票期权的议案》。 在 2022 年股票期权激励计划的第二个等待期内，原激励对象中有 140 名激励 对象因个人原因离职， ...

《科创板日报》21日讯，在全球开发者大会 Google I/O 上， Google 宣布将与中国 AR 眼镜企业 XREAL 合作，发布新一代AR眼镜——Project Aura。《科创板日报》记者独家获悉，立讯精密、龙旗科技等国 内供应链企业将提供支持。（记者 黄心怡） 谷歌将与XREAL合作推Android XR平台首款眼镜 立讯精密、龙旗科技等参与 ...

Market Overview - The Shanghai Composite Index rose by 0.38% on May 20, with 27 out of the 28 sectors experiencing gains, led by the beauty and personal care sector, which increased by 2.50% [2] - The electronic sector also saw an increase of 0.71% [2] Fund Flow Analysis - The main funds in the two markets experienced a net outflow of 1.037 billion yuan, with 18 sectors seeing net inflows [2] - The electronic sector had the highest net inflow of funds, totaling 2.673 billion yuan, followed by the pharmaceutical and biological sector with a net inflow of 1.555 billion yuan [2] Electronic Sector Performance - Within the electronic sector, 334 out of 461 stocks rose, with 7 hitting the daily limit [3] - The top three stocks with the highest net inflow were O-film Technology, with 1.788 billion yuan, followed by Yingfangwei and Wanrun Technology, with net inflows of 297 million yuan and 255 million yuan respectively [3] Top Gainers in Electronic Sector - O-film Technology saw a price increase of 9.97% with a turnover rate of 11.35% and a main fund flow of 1.788 billion yuan [4] - Yingfangwei increased by 10.04% with a turnover rate of 12.45% and a main fund flow of 297 million yuan [4] - Wanrun Technology rose by 10.03% with a turnover rate of 4.96% and a main fund flow of 255 million yuan [4] Top Losers in Electronic Sector - The stock with the highest net outflow was Guangzhi Technology, with a net outflow of 173.218 million yuan and a price increase of 4.61% [5] - Hanwujing had a net outflow of 143.987 million yuan with a price increase of 0.16% [5] - Landai Technology experienced a net outflow of 134.810 million yuan with a price decrease of 2.25% [5]

1、投资者回售选择权：根据《立讯精密工业股份有限公司公开发行可转换公司 债券募集说明书》（以下简称《募集说明书》）的约定，"立讯转债"持有人可回售 部分或者全部未转股的"立讯转债"。"立讯转债"持有人有权选择是否进行回售， 本次回售不具有强制性。 2、回售价格：100.981 元/张（含息税） 3、回售条件触发日：2025 年 5 月 19 日 | 证券代码：002475 | 证券简称：立讯精密 公告编号：2025-064 | | --- | --- | | 债券代码：128136 | 债券简称：立讯转债 | 立讯精密工业股份有限公司 关于"立讯转债"回售的第一次提示性公告 本公司及监事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 特别提示： 4、回售申报期：2025 年 5 月 22 日至 2025 年 5 月 28 日 5、发行人资金到账日：2025 年 6 月 3 日 6、回售款划拨日：2025 年 6 月 4 日 7、投资者回售款到账日：2025 年 6 月 5 日 8、回售申报期间"立讯转债"将暂停转股 9、在回售资金发放日之前，如持有的本期债券发生司法冻结或 ...

Market Overview - The FTSE China A50 index components showed mixed performance with logistics, chemical pharmaceuticals, and home appliances leading in gains, while the coal sector faced declines [1] Sector Performance Insurance - China Pacific Insurance, China Ping An, and China Life Insurance reported market capitalizations of 980.99 billion, 361.31 billion, and 326.32 billion respectively, with trading volumes of 6.54 million, 10.71 million, and 5.58 million [3] Alcohol Industry - Kweichow Moutai, Shanxi Fenjiu, and Wuliangye had market capitalizations of 1993.60 billion, 242.98 billion, and 501.66 billion respectively, with trading volumes of 18.64 million, 10.49 million, and 5.22 million [3] Semiconductor - Northern Huachuang, Cambricon Technologies, and Haiguang Information had market capitalizations of 231.43 billion, 284.52 billion, and 325.85 billion respectively, with trading volumes of 7.93 million, 15.80 million, and 6.32 million [3] Automotive - BYD, Great Wall Motors, and Beijing-Shanghai High-speed Railway reported market capitalizations of 1192.71 billion, 199.78 billion, and 294.15 billion respectively, with trading volumes of 37.01 million, 1.61 million, and 2.02 million [3] Oil Industry - COSCO Shipping, Sinopec, and China National Petroleum had market capitalizations of 687.67 billion, 1498.94 billion, and 254.36 billion respectively, with trading volumes of 2.16 million, 2.49 million, and 14.71 million [3] Coal Industry - China Shenhua, Shaanxi Coal and Chemical Industry, and CATL reported market capitalizations of 194.68 billion, 1198.11 billion, and 777.26 billion respectively, with trading volumes of 3.11 million, 3.58 million, and 50.90 million [3] Power Industry - Dongfang Electric, Yangtze Power, and China Nuclear Power had market capitalizations of 753.62 billion, 197.66 billion, and 341.13 billion respectively, with trading volumes of 10.66 million, 7.40 million, and 21.45 million [4] Food and Beverage - CITIC Securities, Guotai Junan, and Haitian Flavoring reported market capitalizations of 387.85 billion, 311.87 billion, and 240.72 billion respectively, with trading volumes of 1.95 million, 7.07 million, and 2.48 million [4] Consumer Electronics - Industrial Fulian, Luxshare Precision, and Heng Rui Medicine had market capitalizations of 379.50 billion, 235.47 billion, and 348.74 billion respectively, with trading volumes of 3.94 million, 17.94 million, and 15.65 million [4] Home Appliances - Gree Electric, Haier Smart Home, and Muyuan Foods reported market capitalizations of 261.19 billion, 245.55 billion, and 216.54 billion respectively, with trading volumes of 11.37 million, 5.03 million, and 4.47 million [4] Medical Devices - Mindray Medical, Wanhua Chemical, and SF Holding had market capitalizations of 178.50 billion, 224.01 billion, and 272.74 billion respectively, with trading volumes of 9.22 million, 6.67 million, and 4.36 million [4] Telecommunications - China Construction, China Unicom, and China Telecom had market capitalizations of 235.94 billion, 171.33 billion, and 466.44 billion respectively, with trading volumes of 11.23 million, 2.30 million, and 8.29 million [4] Transportation Equipment - China CRRC and Guodian NARI had market capitalizations of 209.50 billion and 184.02 billion respectively, with trading volumes of 1.15 million and 2.30 million [5]

Summary of Key Points Core Viewpoint - The announcement details the conditional redemption of "Lixun Convertible Bonds" due to the stock price falling below a specified threshold, allowing bondholders to sell their bonds back to the company at a predetermined price [1][2]. Group 1: Redemption Conditions - The conditional redemption clause is activated if the closing price of the company's stock is below 70% of the conversion price (39.53 CNY) for 30 consecutive trading days during the last two interest years of the bond [2][3]. - The conversion price is set at 56.47 CNY per share, and the bondholders have the option to redeem either partially or fully [1][2]. Group 2: Redemption Price Calculation - The redemption price is calculated to be 100.981 CNY per bond, including interest, with a net amount of 100.785 CNY for individual investors after tax deductions [4]. - The interest rate for the current period is 1.80%, and the interest accrued for the redemption period is calculated based on the number of days from the last interest payment [3][4]. Group 3: Redemption Process and Timeline - The redemption application period is from May 22, 2025, to May 28, 2025, during which bondholders can submit their redemption requests [5]. - The company will announce the results of the redemption and its impact on the company after the redemption period ends [6]. Group 4: Trading and Conversion Restrictions - During the redemption period, "Lixun Convertible Bonds" will continue to be traded, but conversion to shares will be suspended [6]. - If bondholders submit multiple requests (trading, redemption, transfer), they will be processed in a specific order: trading first, then redemption, followed by transfer [6].

北京市汉坤（深圳）律师事务所 关于 立讯精密工业股份有限公司 可转换公司债券回售的 法律意见书 中国深圳市福田区中心四路 1-1 号嘉里建设广场第三座 20 层 518048 电话：(86 755) 3680 6500；传真：(86 755) 3680 6599 北京 ? 上海 ? 深圳 ? 香港 ? 海口 ? 武汉 ? 新加坡 ? 纽约 www.hankunlaw.com 北京市汉坤（深圳）律师事务所 法律意见书 致：立讯精密工业股份有限公司 北京市汉坤（深圳）律师事务所（以下简称本所）接受立讯精密工业股份有限 公司（以下简称公司或立讯精密）的委托，指派本所律师根据《中华人民共和国公 司法》 （以下简称《公司法》）、 《中华人民共和国证券法》 （以下简称《证券法》）、 中国证券监督管理委员会（以下简称中国证监会）发布的《可转换公司债券管理办 法》（以下简称《管理办法》）、深圳证券交易所（以下简称深交所）发布的《深 圳证券交易所上市公司自律监管指引第 15 号—可转换公司债券》（以下简称《监 管指引》）等相关法律法规、规章及其他规范性文件和《立讯精密工业股份有限公 司公司发行可转换公司债券募集说明书》（以下简 ...

| 证券代码：002475 | 证券简称：立讯精密 | 公告编号：2025-062 | | --- | --- | --- | | 债券代码：128136 | 债券简称：立讯转债 | | 立讯精密工业股份有限公司 关于"立讯转债"回售的公告 本公司及监事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 4、回售申报期：2025 年 5 月 22 日至 2025 年 5 月 28 日 5、发行人资金到账日：2025 年 6 月 3 日 6、回售款划拨日：2025 年 6 月 4 日 7、投资者回售款到账日：2025 年 6 月 5 日 8、回售申报期间"立讯转债"将暂停转股 特别提示： 1、投资者回售选择权：根据《立讯精密工业股份有限公司公开发行可转换公司 债券募集说明书》（以下简称《募集说明书》）的约定，"立讯转债"持有人可回售 部分或者全部未转股的"立讯转债"。"立讯转债"持有人有权选择是否进行回售， 本次回售不具有强制性。 2、回售价格：100.981 元/张（含息税） 3、回售条件触发日：2025 年 5 月 19 日 9、在回售资金发放日之前，如持有的本期债券发生司 ...