Core Viewpoint - The company, Lens Technology, has signed a share acquisition intention agreement to purchase 100% equity of PMG International Co., LTD from Leu Song-Show, aiming to enhance its capabilities in AI computing hardware solutions [1] Group 1: Acquisition Details - The specific transaction amount and scheme will be determined through further negotiations based on due diligence, auditing, and evaluation results [1] - The transaction does not constitute a related party transaction or a major asset restructuring and will not impact the company's operating performance for the current year [1] Group 2: Strategic Implications - The acquisition will allow the company to quickly gain mature technology and customer certifications in the server cabinet business, including components such as racks, slides, trays, and busbars [1] - The integration of advanced liquid cooling system capabilities with the company's strong precision component manufacturing and vertical integration will significantly enhance its core competitiveness in AI computing hardware solutions [1] - This move is expected to open new avenues in AI computing infrastructure and accelerate the company's transformation into a global AI hardware innovation platform [1] Group 3: Market Performance - On December 10, the company's stock fell by 1.23%, closing at 28.9 yuan per share, with a total market capitalization of 152.7 billion yuan [2]

Core Viewpoint - The company has signed a share acquisition intention agreement to purchase 100% equity of PMG International Co., LTD, enhancing its capabilities in the server cabinet business and AI hardware solutions [1][2] Group 1: Acquisition Details - The acquisition agreement was signed on December 10, 2025, with the specific transaction amount and terms to be determined after due diligence and negotiations [1] - The acquisition does not constitute a related party transaction or a major asset restructuring [1] Group 2: Strategic Benefits - The acquisition will allow the company to quickly gain mature technology and customer certifications in the server cabinet business, including components like racks, slides, trays, and busbars [2] - The integration of advanced liquid cooling systems with the company's strong precision component manufacturing and vertical integration capabilities will significantly enhance its core competitiveness in AI computing hardware solutions [2] - This move is expected to open new avenues in AI infrastructure and accelerate the company's transformation into a global AI hardware innovation platform [2]

蓝思科技12月10日公告，公司于2025年12月10日在中国香港与吕松寿LEU, SONG-SHOW签订了《股权 收购意向协议》，拟以现金及其他合法方式购买吕松寿LEU, SONG-SHOW拥有的PMG International Co.,LTD.（裴美高国际有限公司）100%股权。具体交易金额、交易方案等将由相关各方根据尽职调 查、审计及评估结果等进一步协商谈判，具体交易金额及收购方式将由交易双方在正式收购协议中确 定。本项交易不构成关联交易，未构成重大资产重组。 ...

Core Viewpoint - The company, Lens Technology, announced a share acquisition intention agreement to purchase 100% equity of PMG International Co., LTD, enhancing its capabilities in AI computing hardware solutions [1] Group 1: Acquisition Details - The acquisition is set to be finalized by December 10, 2025, with the transaction amount and scheme to be determined through due diligence, auditing, and evaluation [1] - The acquisition will be executed through cash and other legal means [1] Group 2: Strategic Benefits - The acquisition will allow the company to quickly obtain mature technology and customer certifications in the server cabinet business, including racks, slides, trays, busbars, and other components [1] - The integration of advanced liquid cooling systems will complement the company's strong manufacturing capabilities in precision structural components and vertical integration from materials to modules to complete machines [1] - This move significantly enhances the company's core competitiveness in AI computing hardware solutions and accelerates its transformation into a global AI hardware innovation platform [1]

公告称，通过本项收购，公司将快速获得国内外特定客户服务器机柜业务(包括但不限于机架、滑轨、 托盘、Busbar、其他组件)的成熟技术与客户认证，以及先进液冷散热系统集成能力，与公司强大的精 密结构件制造及"材料-模组-整机"垂直整合能力形成强力互补和高度协同。 蓝思科技（300433）(300433.SZ)公告，公司于2025年12月10日在中国香港与吕松寿LEU,SONG-SHOW 签订了《股权收购意向协议》，拟以现金及其他合法方式购买吕松寿LEU,SONG-SHOW拥有的PMG International Co.,LTD.(裴美高国际有限公司)100%股权。PMG International Co.,LTD.(裴美高国际有限公 司)持有元拾科技(浙江)有限公司95.1164%股权。 根据协议，出让方承诺并保证，于本协议签署之日，PMG International Co.,LTD.(裴美高国际有限公司) 与元拾科技(浙江)有限公司已拥有开展国内外特定客户服务器机柜业务(包括但不限于机架、滑轨、托 盘、Busbar、其他组件)所需的供应商资质、技术与知识产权、研发与业务团队、生产能力、生产设备/ 场地等要素， ...

Group 1 - The company, Lens Technology (300433.SZ), signed a share acquisition intention agreement on December 10, 2025, to purchase 100% equity of PMG International Co., LTD. from Leu Song-Show for cash and other legal means [1] - PMG International Co., LTD. holds a 95.1164% stake in Yuan Shi Technology (Zhejiang) Co., Ltd., which is involved in the specific customer server cabinet business [1] - The seller guarantees that PMG International Co., LTD. and Yuan Shi Technology (Zhejiang) Co., Ltd. possess the necessary qualifications, technology, intellectual property, R&D and business teams, production capacity, and facilities required for the business, which will remain effective for at least three years post-transaction [1] Group 2 - Through this acquisition, the company will quickly gain mature technology and customer certifications for the specific customer server cabinet business, as well as advanced liquid cooling system integration capabilities [2] - The acquisition will complement and synergize with the company's strong precision component manufacturing and vertical integration capabilities in "materials-modules-complete machines" [2]

证券代码：300433 证券简称：蓝思科技 公告编号：临 2025-089 蓝思科技股份有限公司 关于签订股权收购意向协议的公告 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。 特别提示： 1、本次签订的股权收购意向协议为意向性协议，涉及本次收购的具体事宜 包括交易金额、交易方案等，将由相关各方根据尽职调查、审计及评估结果等进 一步协商谈判，并由交易双方在正式收购协议中确定，存在一定的不确定性，公 司将按照规定及时披露本事项的后续进展情况； 2、本项交易不构成关联交易，不构成《上市公司重大资产重组管理办法》 规定的重大资产重组，不会对公司本年度经营业绩构成影响。 一、协议的签订情况 3、公司注册号：20557 4、注册地址：The office of Pacific Fiduciaries (Samoa) Limited, Le Sanalele Complex, Ground Floor, Vaea Street, Saleufi, Apia, Samoa 5、法定代表人/负责人：吕松寿LEU,SONG-SHOW 蓝思科技股份有限公司（以下简称"公司"或"甲 ...

Group 1 - The 3C supply chain is benefiting from the cyclical recovery of its industry and the accelerated penetration of AI at the edge, presenting growth opportunities [1] - The 3C supply chain's specialized manufacturing model of "components-modules-finished products" is well-suited for the mass production phase of humanoid robots [1] - Companies like Luxshare Precision and Lens Technology are leveraging their experience in the 3C sector to expand into humanoid robotics, focusing on module and finished product manufacturing [1] Group 2 - The 3C terminal market, represented by smartphones, is entering a recovery cycle, providing a foundation for industry growth [2] - Major tech companies are accelerating the deployment of AI at the edge, which is expected to drive a new replacement cycle for terminal products [2] - Companies like Apple, Google, and ByteDance are competing to enhance their mobile devices with AI capabilities, which could lead to significant growth in the 3C industry [2]

Core Points - The 19th China Listed Company Value Selection awarded Lens Technology as one of the "Top 50 Value Companies on the Growth Enterprise Market" [1] - Lens Technology's President and Secretary of the Board, Jiang Nan, was recognized as a "Sunshine Secretary" [1] Group 1 - This year marks the 10th anniversary of Lens Technology's listing on the Growth Enterprise Market, highlighting the company's stable operations, governance, and continuous investment in technological innovation [3] - The award selection process involved multiple rigorous steps, including self-nomination, data screening, expert review, and regulatory approval, reflecting the authoritative recognition of the company's comprehensive performance and long-term investment value over the past decade [3] Group 2 - Lens Technology aims to enhance governance, focus on core business, and actively develop new productive forces to sustainably return value to investors and create greater value in the next decade [5]

Investment Rating - The industry investment rating is "Positive" (maintained) [1] Core Insights - The humanoid robot sector continues to rebound, entering an upward channel, with the core company index rising by 5.54%, outperforming the broader market [12][11] - Multiple factors contributed to the unexpected strength of the rebound, including prior adjustments in the sector, advancements in Tesla's Optimus robot, and anticipated supportive policies from the U.S. government [4][12] - The year 2026 is projected to be a milestone for humanoid robot mass production, with significant catalysts expected [4][40] Summary by Sections Humanoid Robot Sector Performance - The humanoid robot sector index and leading stocks have shown a continued rebound, with the core company index increasing by 5.54% during the week of December 1 to December 5, 2025 [12][11] - The top five performers included Hengli Hydraulic (+11.53%), Siling Co. (+10.07%), and Wuzhou Xinchun (+9.24%) [12][14] Optimus Robot Development - Tesla's Optimus robot is progressing towards mass production, with recent demonstrations showcasing its running capabilities, achieving speeds of 2.5-3 m/s [5][16] - The U.S. government is expected to introduce supportive policies for the robot industry, which may accelerate development and enhance market confidence [31][33] - The domestic industrialization process is also speeding up, with leading companies preparing for capital market entry [34][38] Investment Opportunities - Key investment opportunities are identified in the supply chain, including components such as head assemblies, bearings, and structural parts [27][30] - Specific companies recommended for investment include Lens Technology, Minth Group, and Wuzhou Xinchun, among others [6][30] - The report emphasizes the importance of technological upgrades and supply chain integration to support mass production [27][30]