Group 1 - CLSA's top stock picks include AAC Technologies (瑞声科技), Xiaomi, and SMIC [1] - The upcoming iPhone 17 Pro series is expected to feature a vapor chamber for enhanced thermal performance, with AAC Technologies supplying the thermal module [1] - AAC Technologies' optical business is projected to grow, contributing to a forecasted revenue of RMB 27.33 billion for 2024, a 33.8% year-on-year increase [1] Group 2 - AAC Technologies completed the acquisition of 80% of high-end audio system supplier "PSS" last February, leading to a revenue of RMB 3.52 billion from automotive and consumer acoustics products in 2024 [2] - The thermal business of AAC Technologies is expected to generate RMB 326 million in revenue for 2024, reflecting a 40.1% year-on-year growth [2] - AAC Technologies has become a major supplier of thermal modules for flagship smartphones in China, holding over 50% market share [2]
iPhone 17 Pro系列将首次采用均热板，供应商为瑞声科技(02018)