Market Overview - The US Senate passed a tax reform bill, with the House of Representatives set for a final vote on Wednesday[8] - The Shanghai Composite Index rose by 0.39% to 3457.75 points, while the Shenzhen Component increased by 0.11%[1] - The Hang Seng Index fell by 0.87% to 24072.28 points, with the Hang Seng Tech Index down 0.72% and the Hang Seng China Enterprises Index down 0.96%[1] Banking Sector - Major US banks, including JPMorgan Chase and Goldman Sachs, raised quarterly dividends after passing the Federal Reserve's stress tests[12] - JPMorgan's board authorized a $50 billion stock buyback program[12] Economic Indicators - US personal income decreased by 0.4% in May, while personal spending fell by 0.1%[17] - The PCE price index year-on-year increased to 2.3% in May, with the core PCE price index at 2.7%[17] Trade Relations - Trump threatened to impose high tariffs on Japan and other countries, potentially forcing Japan to pay tariffs of 30% or 35%[12] - The US Treasury Secretary expressed hope for faster exports of rare earth magnets from China following a recent agreement[12]

Group 1 - The core focus is on high-quality development and the construction of a modern industrial system to inject vitality into economic growth [1][8] - Emphasis on leveraging the advantages of key industries and accelerating project construction to enhance enterprise cultivation [1][8] - The importance of chain-leading enterprises in driving industrial collaboration and innovation is highlighted [8] Group 2 - Companies such as GAC Aion, SANY, and BYD are under review for their operational status and project progress [3][8] - Encouragement for enterprises to grasp industry trends and enhance R&D capabilities to expand market share [13] - Local parks and relevant departments are urged to provide effective services to boost enterprise confidence and create a favorable development environment [14]

Core Viewpoint - Lens Technology, a dual supplier for "fruit chain" and "rice chain," has officially entered the public offering stage for its Hong Kong IPO, aiming to raise funds for R&D and overseas capacity expansion [1][4]. Group 1: IPO Details - The company plans to issue approximately 262 million H-shares, with 28.84 million shares available for Hong Kong and about 233 million for international sales [4]. - The price range for the shares is set between HKD 17.38 and HKD 18.18, with expected net proceeds of HKD 4.59 billion [4]. Group 2: Financial Performance - Revenue projections for Lens Technology from 2022 to 2024 are 46.7 billion, 54.5 billion, and 69.9 billion yuan, respectively, with adjusted net profits of 2.52 billion, 3.10 billion, and 3.84 billion yuan [4]. - The adjusted net profit margins are forecasted at 5.4%, 5.7%, and 5.5% for the same period [4]. Group 3: Business Segments - The revenue share from the smart automotive and cockpit business increased from 7.7% in 2022 to 9.2% in 2023, before decreasing to 8.5% in 2024 [4]. - The smart automotive segment is now the second-largest business for the company, including products like electronic glass, windshields, and dashboards [4]. Group 4: Strategic Partnerships and Future Growth - Xiaomi is a cornerstone investor, and the company anticipates expanding collaboration with Xiaomi beyond smartphones into wearables, automotive, and home appliances [1][4]. - The management emphasizes the importance of the folding screen market, positioning it as a new growth point, especially with advancements in Apple's folding screen technology [6][7]. Group 5: Global Expansion and Supply Chain Resilience - The company plans to enhance its global business layout and supply chain resilience, with potential expansions in Vietnam and Thailand to meet the demand for precision manufacturing solutions [6]. - The management believes that the demand for AI devices and humanoid robots will drive future growth, with aspirations to become the largest humanoid robot manufacturing base globally [7].

Company Highlights - Hanyu Pharmaceutical expects a net profit of 142 million to 162 million yuan for the first half of 2025, benefiting from increased global market demand and successful product approvals [1] - Taotao Automotive anticipates a net profit growth of 70% to 98% year-on-year for the first half of 2025, driven by enhanced brand influence and improved operational efficiency [2] - Xiaogoods City projects a net profit increase of 13% to 17% for the first half of 2025, attributed to growth in main business revenue and trade fulfillment services [2] - Hongxin Electronics signed contracts totaling 373 million yuan for computing power services through its subsidiaries [3] - Alloy Investment's controlling shareholder will change to Jiuzhou Hengchang, leading to the resumption of trading [3] - Hangzhou High-tech is planning a change in control, with a suspension of trading expected for no more than two trading days [4] - Junpu Intelligent signed a sales framework contract for humanoid robots worth 28.25 million yuan [7] - Lens Technology plans to issue 262 million H-shares globally, with an initial price range set between 17.38 and 18.18 HKD [8] - Saintno Biopharmaceuticals received a drug registration certificate for its product, further enhancing its market competitiveness [12] Investment & Contracts - Shenzhen Energy plans to invest 6.332 billion yuan in upgrading the Mawan Power Plant, aligning with national energy policies [17] - China Railway Construction won a contract worth 3.781 billion yuan for the China-Kyrgyzstan-Uzbekistan railway project [27] - China Railway secured contracts totaling approximately 5.343 billion yuan for the same railway project [28] - Zhongtian Technology's subsidiary won multiple marine energy project contracts totaling about 1.722 billion yuan [29] - Lande Group intends to acquire a 20.1667% stake in Jujia Technology for up to 121 million yuan, enhancing its capabilities in high-performance materials [21][22] Financing & Capital Increase - Yiwei Lithium Energy submitted an application for H-share issuance and listing in Hong Kong [30] - Jiadou Technology plans to issue H-shares and list on the Hong Kong Stock Exchange [30] - Helin Micro-Nano is preparing to issue H-shares for listing in Hong Kong [30] Other Developments - Renfu Pharmaceutical received approval for its midazolam injection in France, with expected annual sales of approximately 33 million USD [31] - Kanghong Pharmaceutical obtained a drug registration certificate for its eye drop product, enhancing its product pipeline in the ophthalmology sector [32]

Core Viewpoint - Lens Technology, a leading player in the Apple supply chain, is entering the Hong Kong IPO phase, with the offering scheduled from June 30 to July 4, 2025, and expected trading to begin on July 9, 2025 [1] Group 1: IPO Details - The company plans to issue approximately 262 million H-shares, with 28.84 million shares for Hong Kong and around 233 million shares for international offerings [1] - The expected price range for the shares is between HKD 17.38 and HKD 18.18, with a trading unit of 200 shares [1] - The anticipated net proceeds from the IPO, based on a median price of HKD 17.78, are estimated to be approximately HKD 45.90 billion after expenses [2] Group 2: Use of Proceeds - About 48% of the funds raised will be used to enrich and expand the product and service portfolio, 28% for expanding overseas operations, 14% for enhancing vertical integration and smart manufacturing capabilities, and 10% for working capital and other general corporate purposes [2] Group 3: Market Context and Investor Sentiment - The Hong Kong IPO market is currently attracting significant attention, with many consumer electronics companies pursuing listings [1] - The pricing of Lens Technology's shares reflects a discount of about 25% compared to its A-share price, which aligns with the general trend of Hong Kong shares trading at a discount to A-shares [2] - Previous listings, such as CATL and Hansoh Pharma, have seen their H-shares outperform A-shares, raising investor expectations for Lens Technology [2] Group 4: Cornerstone Investors - The IPO has attracted notable cornerstone investors, with a total subscription amount of approximately USD 191 million (around HKD 1.49 billion) from various well-known investment institutions [3] - Key investors include Xiaomi, UBS AM Singapore, and Oaktree, among others, with Xiaomi and Seiyun Electric each committing USD 10 million [3][4] Group 5: Strategic Goals - The company aims to diversify its financing channels and has broader strategic ambitions, including expanding and optimizing production capacity, enhancing global presence, and improving smart manufacturing systems [6] - Plans include establishing new production lines in Vietnam and Thailand for smart terminal components and smart automotive products, with operations expected to commence by the end of 2025 [6][7] Group 6: Client Diversification - Lens Technology is actively working to reduce its reliance on Apple, with sales to its largest client projected to decrease from 71% in 2022 to below 50% by 2025 [8] - The company is focusing on expanding its customer base and product offerings, including investments in next-generation smart terminal technologies and other sectors like smart automotive and VR products [8][9]

Group 1 - The company, Lens Technology, announced a global offering of H-shares with a base issuance of 262 million shares [1] - The initial price range for the H-share issuance is set between HKD 17.38 and HKD 18.18 [1] - The H-shares are expected to be listed and start trading on the Hong Kong Stock Exchange on July 9, 2025 [1]

2025 年 3 月 31 日，公司向香港联交所递交了本次境外发行上市申请，并于 同日在香港联交所网站刊登了申请资料。 2025 年 6 月 16 日，公司收到中国证券监督管理委员会（以下简称"中国证 监会"）出具的《关于蓝思科技股份有限公司境外发行上市备案通知书》（国合 函[2025]1022 号）。 2025 年 6 月 20 日，香港联交所上市委员会举行上市聆讯，审议了公司本次 境外发行上市申请。关于本次境外发行上市的相关进展具体内容详见公司在巨潮 资讯网（http://www.cninfo.com.cn）等符合中国证监会规定条件的媒体上发布的 有关公告。 2025 年 6 月 30 日，公司按照有关规定在香港联交所网站刊登并派发本次境 外发行上市 H 股招股说明书，该 H 股招股说明书为根据适用的香港法律法规和 香港联交所、香港证券及期货事务监察委员会的相关规范及要求而刊发，其包含 1 / 3 证券代码：300433 证券简称：蓝思科技 公告编号：临 2025-052 蓝思科技股份有限公司 关于刊发 H 股招股说明书、H 股发行价格区间 及 H 股香港公开发售等事宜的公告 本公司及董事会全体成员保证信 ...

Core Viewpoint - Lens Technology (06613.HK) is set to launch its H-share IPO on June 30, 2025, with a price range of HKD 17.38 to HKD 18.18, representing a discount of 32.80% to 38.91% compared to its A-share price of RMB 22.06 [1] Group 1: IPO Details - The company plans to issue approximately 262 million H-shares, accounting for 5.00% of its enlarged share capital, with 28.85 million shares available for Hong Kong public offering [1] - The application deadline for the IPO is July 4, with the final offer price and allocation results expected by July 8, and trading on the Hong Kong Stock Exchange commencing on July 9 [1] Group 2: Financial Projections - Assuming the midpoint of the offer price range at HKD 17.78, the company estimates net proceeds of HKD 4.59 billion from the global offering, which will be allocated as follows: 1. Approximately HKD 2.20 billion (48%) for expanding product and service offerings [2] 2. Approximately HKD 1.29 billion (28%) for global business expansion and capacity enhancement [2] 3. Approximately HKD 643 million (14%) for improving vertical integration in smart manufacturing [2] 4. Approximately HKD 459 million (10%) for working capital and general corporate purposes [2] Group 3: Cornerstone Investors - The company has secured cornerstone investments totaling approximately USD 191 million (around HKD 1.49 billion), representing 32.89% of the offering, with notable investors including Xiaomi's Green Better and Oaktree Capital [3] - Following the IPO, the shareholding of the current major shareholders, founders Zhou Qunfei and Zheng Junlong, will decrease from 63% to 59% [3]

智通财经6月30日电，根据周一在香港交易所发布的公告，蓝思科技将以每股17.38-18.18港元的价格发 行2.62亿股H股，筹资至多48亿港元（6.06亿美元）。蓝思科技预计其H股将于7月9日开始在联交所买 卖。 蓝思科技寻求通过香港上市筹资至多6.06亿美元 ...

Core Viewpoint - Lens Technology (06613.HK) plans to globally offer approximately 262 million H-shares, with a pricing range of HKD 17.38-18.18 per share, aiming to raise around HKD 4.59 billion net from the offering [1][4] Group 1: Company Overview - The company is a leading provider of precision manufacturing solutions for the entire industry chain of smart terminals, focusing on technological innovation and intelligent manufacturing [1] - It ranks first in the global market share for precision structural components and module solutions in consumer electronics at 13.0% and in interactive systems for smart vehicles at 20.9% [1] - The company has established long-term strategic partnerships with leading global consumer electronics and smart automotive brands, participating in product development and production 2 to 3 years prior to product launches [2] Group 2: Investment and Financials - The cornerstone investors have agreed to subscribe for shares totaling approximately USD 191 million (or about HKD 1.499 billion), with a total of 84.32 million shares at a median price of HKD 17.78 per share [3] - The estimated net proceeds from the global offering, after deducting underwriting commissions and other expenses, will be approximately HKD 4.59 billion [4] - The proceeds will be allocated as follows: about 48% for expanding the product and service portfolio, 28% for enhancing overseas business capabilities, 14% for improving vertical integration in intelligent manufacturing, and 10% for working capital and general corporate purposes [4]