蓝思科技首季净利润增长39% 全年业务增量可期

Core Viewpoint - Lens Technology (蓝思科技) reported a significant increase in its Q1 2025 performance, with net profit rising nearly 40% year-on-year, driven by strong production capacity utilization and anticipated growth from new product launches in the second half of the year [1][2]. Financial Performance - Q1 2025 revenue reached 17.063 billion yuan, a year-on-year increase of 10.1% [1] - Net profit attributable to shareholders was 429 million yuan, up 38.71% year-on-year [1] - Non-recurring net profit saw an increase of over 60% year-on-year [1] Business Outlook - The company expects multiple growth drivers in 2025, including new product launches from major clients, new orders from domestic clients, increased assembly of North American PC products, and the introduction of smart retail products [1] - Lens Technology plans to deepen research and development in glass, metal materials, and functional modules, while expanding into emerging fields such as AI terminals, smart vehicles, and humanoid robots [1] Listing Plans - The company has initiated plans for a Hong Kong listing, aiming to raise funds for the development of foldable screens, smart automotive components, and AI wearable devices [2] - The listing is expected to enhance global business operations in regions like Vietnam, Thailand, and Mexico, improving global delivery capabilities [2] Supply Chain and Risk Management - Lens Technology has established a robust global supply chain through vertical integration and advanced production processes, enhancing its resilience against risks [3] - The company’s overseas business accounted for 58% of sales in 2024, primarily through components and functional modules, which helps mitigate tariff risks [3] - Domestic sales have increased, now representing 42% of revenue, with breakthroughs in humanoid robots, AI glasses, and smart retail sectors [3]