Investment Rating - The report maintains an "Outperform" rating for the electronic industry [1][9]. Core Viewpoints - The electronic sector is expected to benefit from high growth in overseas AI computing demand, with a focus on innovative products such as AI smartphones, AI glasses, and foldable screens anticipated to drive market activity in early 2026 [2][3]. - The report emphasizes the importance of patience in investment strategy, suggesting that time can create space for better opportunities in the sector [2]. - The report highlights the potential for domestic companies in the ASIC market, particularly with Google's plans to expand its TPU business, which could enhance market size for cloud inference solutions [4]. Summary by Sections Market Performance - The Shanghai Composite Index rose by 1.40%, while the electronic sector increased by 6.05% over the past week, with components up by 8.10% and electronic chemicals up by 3.93% [2][10]. - The report notes that the electronic sector's recent underperformance was primarily due to the reduction of national subsidies, export rush in Q2, and price increases in memory shortages [2]. Key Company Recommendations - The report recommends several companies for investment, including: - Aojie Technology - Jiangbolong - Demingli - Lens Technology - Luxshare Precision - Lantech Optical - Hengxuan Technology - Lanke Technology - SMIC - Saiwei Electronics - Tianyue Advanced [2]. Product Innovations - Quark's smart glasses S1 were officially launched, featuring a dual-chip architecture and advanced optical solutions, indicating a significant opportunity in the AR glasses market [3]. - Longxin Storage showcased new DDR5 and LPDDR5X products, with expectations for growth driven by domestic production and price recovery in the storage sector [4]. Global Smartphone Market Outlook - The global smartphone shipment is projected to grow by 3.3% in 2025, with Apple expected to capture a 19.4% market share, making it the leading smartphone brand for the first time since 2011 [5][7]. - The report continues to recommend companies within Apple's supply chain, including Luxshare Precision and Industrial Fulian [7]. Company Earnings Forecasts - The report provides earnings forecasts and investment ratings for key companies, with most rated as "Outperform" and showing positive EPS growth projections for 2025 and 2026 [9].

Core Viewpoint - The passing of independent director Xie Zhiming is acknowledged by Lens Technology, which expresses condolences and gratitude for his contributions to the company [4][6]. Group 1: Company Announcement - Lens Technology announced the unfortunate passing of independent director Xie Zhiming due to illness, and the board expressed deep condolences and sympathy to his family [4]. - Following Xie Zhiming's death, the board's membership decreased from 7 to 6, remaining above the legal minimum but below the number stipulated in the company's articles of association [6]. - The company plans to promptly appoint a new independent director in accordance with relevant regulations and will ensure that the current independent directors temporarily fulfill the responsibilities until a new appointment is made [6]. Group 2: Company Operations and Financials - Lens Technology's main business includes the production and assembly of components such as glass, sapphire, ceramics, metals, plastics, touch modules, biometric systems, and acoustic products [6]. - The company has initiated a "de-Apple" strategy to reduce dependency on Apple, exploring new business opportunities, including humanoid robots, which have garnered significant interest from institutional investors [6][7]. - For the first three quarters of 2025, Lens Technology reported revenue of 53.663 billion yuan, a year-on-year increase of 16.08%, and a net profit of 2.843 billion yuan, up 19.91% [7].

Core Viewpoint - The article discusses the impact of AI on investment opportunities in the equity market, highlighting the volatility and potential for profit in specific sectors, particularly in Fujian's food industry and the commercial space sector [1][10]. Summary by Sections A-share Market Review - The A-share market experienced fluctuations, with the Shanghai Composite Index down by 0.42%, Shenzhen Component down by 0.68%, and the ChiNext Index down by 0.69% on December 2 [10]. - The total trading volume across the three markets was 16,073.75 billion, a decrease of 2,821.68 million from the previous day [10]. - Over 3,700 stocks declined, while 55 stocks hit the daily limit up, indicating a strong performance in certain sectors, particularly in Fujian [10]. Fujian Sector Insights - Fujian's food sector saw a significant surge following the announcement of 12 policies supporting Taiwanese residents to open Sha County snack stores, leading to a rapid increase in stock prices [1][3]. - Key companies in this sector include: - Hai Xin Food (002702): A century-old brand focusing on frozen foods, with a flagship store in Beijing [3]. - Hui Fa Food (603536): Specializes in frozen prepared dishes suitable for Sha County snacks [3]. - Other notable companies include Fu Ling Pickled Vegetables (002507), Gai Shi Food (920826), and An Ji Food (603696), all of which are positioned to benefit from the Sha County snack concept [3]. Commercial Space Sector - The commercial space sector is gaining momentum, with the Zhuque rocket scheduled for launch on December 3, which is expected to boost related stocks [10]. - The establishment of a dedicated Commercial Space Administration by the National Space Administration marks a significant step towards the development of China's commercial space industry [10]. AI Mobile Phone Concept - The AI mobile phone sector has shown volatility, with a recent surge followed by a decline, raising concerns about its sustainability [2]. - Morgan Stanley noted that the deployment of AI assistants in mobile phones requires deep technical collaboration with manufacturers, which may reshape the value distribution in the mobile market [2]. Market Trends and Predictions - The report from Morgan Stanley anticipates a modest profit growth of around 6-7% for 2026, lower than the market consensus of 15%, indicating potential adjustments in traditional sectors like consumer goods and real estate [6]. - The article emphasizes the need for continued support in the real estate market, with expectations for policy measures to stabilize housing prices and stimulate demand [8]. Investment Opportunities - The article highlights the potential for investment in sectors such as food and commercial space, driven by government policies and market dynamics [1][10]. - The focus on AI technology and its integration into various industries presents new avenues for growth and investment [2].

蓝思科技（300433）(06613)发布公告，截至2025年11月30日，公司通过回购专用证券账户，以集中竞 价方式累计回购公司股份数量730.96万股，占公司目前A股总股本的0.15%，最高成交价为30.24元/股， 最低成交价为22.50元/股，支付的总金额为2.12亿元(不含交易费用)，回购实施情况符合相关法律法规的 要求和公司既定回购方案。 ...

格隆汇12月2日丨蓝思科技(300433.SZ)公布，截至2025年11月30日，公司通过回购专用证券账户，以集 中竞价方式累计回购公司股份数量7,309,607股，占公司目前A股总股本的0.15%，最高成交价为30.24元/ 股，最低成交价为22.50元/股，支付的总金额为211,923,659.63元（不含交易费用），回购实施情况符合 相关法律法规的要求和公司既定回购方案。 ...

智通财经APP讯，蓝思科技(06613)发布公告，截至2025年11月30日，公司通过回购专用证券账户，以集 中竞价方式累计回购公司股份数量730.96万股，占公司目前A股总股本的0.15%，最高成交价为30.24元/ 股，最低成交价为22.50元/股，支付的总金额为2.12亿元(不含交易费用)，回购实施情况符合相关法律法 规的要求和公司既定回购方案。 ...

蓝思科技12月2日公告，公司于2025年4月7日召开第五届董事会第四次会议，审议通过了《关于回购公 司股份方案的议案》，同意公司使用自有资金或自筹资金以集中竞价交易方式，回购公司部分已发行的 普通股（Ａ股）股份，用于实施员工持股计划或股权激励计划。本次回购金额不低于5亿元（含）且不 超过10亿元（含），回购股份价格上限为34.5元/股，回购股份期限为自公司董事会审议通过本次回购 股份方案之日起12个月内。截至2025年11月30日，公司累计回购730.96万股，占公司总股本的0.15%， 回购价格区间为22.5元/股至30.24元/股，累计使用资金2.12亿元（不含交易费用）。 ...

证券代码：300433 证券简称：蓝思科技 公告编号：临 2025-088 蓝思科技股份有限公司 关于回购公司股份进展的公告 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。 蓝思科技股份有限公司（以下简称"公司"）于2025年4月7日召开第五届董 事会第四次会议，审议通过了《关于回购公司股份方案的议案》，同意公司使用 自有资金或自筹资金以集中竞价交易方式，回购公司部分已发行的人民币普通股 （A股）股份，用于实施员工持股计划或股权激励计划。本次回购金额不低于人 民币5亿元（含）且不超过人民币10亿元（含），回购股份价格上限为34.50元/股 （根据公司2024年度和2025年半年度利润分配实施情况调整后），回购股份期限 为自公司董事会审议通过本次回购股份方案之日起12个月内。2025年7月9日，公 司首次实施了本次股份回购。具体内容详见公司分别于2025年4月8日、2025年7 月9日在巨潮资讯网（http://www.cninfo.com.cn）等符合中国证券监督管理委员会 （以下简称"中国证监会"）规定条件的媒体上发布的《关于回购公司股份方案 的公告》《关于 ...

FF301 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年11月30日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 藍思科技股份有限公司 呈交日期: 2025年12月2日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | H | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 06613 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 301,595,200 | RMB | | 1 | RMB | | 301,595,200 | | 增加 / 減少 (-) | | | | | | | RMB | | | | 本月底結存 | | | 301,595,200 | RMB | | 1 | RMB | | 301,595,200 | | 2. 股份分類 | ...

Group 1 - The independent director of Lens Technology, Xie Zhiming, has passed away due to illness, leading to a reduction in the board members from 7 to 6 [2] - Xie Zhiming was also the chairman of the audit committee and the remuneration and assessment committee, and the company will promptly appoint a new independent director [2] - Xie Zhiming was born in September 1972, held a PhD in accounting, and had extensive experience in academia and consulting roles [3] Group 2 - Lens Technology specializes in the production and assembly of various components including glass, sapphire, ceramics, and touch modules, and is listed on the Shenzhen Stock Exchange since 2015 [5] - The company is undergoing a "de-Apple" process to reduce dependency on Apple and has been exploring new business opportunities, including humanoid robots, with expected revenues in the billions [5] - For the first three quarters of this year, Lens Technology reported a revenue of 53.663 billion yuan, a year-on-year increase of 16.08%, and a net profit of 2.843 billion yuan, up 19.91% [5] Group 3 - As of the latest market close, Lens Technology's A-shares rose by 0.66%, with a stock price of 28.85 yuan per share and a market capitalization of 152.5 billion yuan [6]