Bei Jing Shang Bao·2025-07-14 14:33Core Viewpoint - The three major players in the Apple supply chain, Lens Technology, Luxshare Precision, and GoerTek, are at a crossroads, signaling a shift away from their reliance on Apple as they explore different strategic paths for growth and stability [2][4][20]. Group 1: Company Strategies - Lens Technology has successfully completed its listing on the Hong Kong Stock Exchange, raising HKD 4.768 billion with a share price of HKD 18.18, indicating strong market recognition [5][6]. - Luxshare Precision is planning to issue H-shares and list on the Hong Kong Stock Exchange to enhance its global strategy and attract talent [10][13]. - GoerTek is pursuing a unique strategy by spinning off its semiconductor business for independent listing, aiming to optimize its business structure and reduce reliance on the consumer electronics cycle [15][16]. Group 2: Financial Performance - Lens Technology reported a revenue of CNY 69.897 billion in 2024, a year-on-year increase of 28.27%, with net profit rising by 19.94% to CNY 3.624 billion [6]. - Luxshare Precision achieved a revenue of CNY 268.79 billion in 2024, reflecting a 15.9% growth, and a net profit of CNY 13.37 billion, up 22% [10][11]. - GoerTek's revenue reached CNY 100.954 billion in 2024, a slight increase of 2.41%, while net profit surged by 114.93% to CNY 2.665 billion [16]. Group 3: Market Trends and Challenges - The three companies are navigating a changing landscape characterized by Apple's supply chain adjustments and a decline in consumer electronics demand, leading to increased risks associated with dependency on a single client [18][20]. - The shift towards diversification is evident, with Lens Technology expanding into automotive sectors, Luxshare focusing on automotive and AI communications, and GoerTek exploring opportunities in AI smart hardware [6][11][17].