Lens(SZ:300433) Xin Lang Cai Jing·2025-08-19 00:40Group 1: Financial Projections - The company is projected to achieve revenue of 92.18 billion, 115.51 billion, and 137.79 billion from 2025 to 2027, representing year-on-year growth of +31.9%, +25.3%, and +19.3% respectively [1] - The net profit attributable to the parent company is expected to be 5.27 billion, 6.50 billion, and 7.83 billion for the same period, with year-on-year growth of +45.3%, +23.5%, and +20.4% respectively [1] Group 2: Business Segments - The company is diversifying its business with a focus on consumer electronics, which is expected to benefit from product innovation by major clients and the implementation of AI hardware [1] - The smart automotive and cockpit business has become the company's second growth curve, contributing 8.49% to total revenue in 2024 [2] - The smart cockpit market in China is projected to grow from 73.9 billion in 2022 to 103 billion by 2025 [2] Group 3: Competitive Advantages - The company has a strong moat in the glass cover segment, having partnered with Apple since 2006 as a key supplier of glass cover and core structural components [1] - The acquisition of Kesheng Keli has expanded the company's metal structural component business, allowing entry into the mid-to-high-end smartphone market [1] - The company is positioned to benefit from the emerging field of ultra-thin glass (UTG) for foldable screens, especially with Apple's entry into the foldable smartphone market [1] Group 4: Emerging Opportunities - The company is actively expanding into the wearable and robotics sectors, with significant potential expected in the future [3] - A strategic partnership with Lingban Technology aims to enhance the potential of the smart wearable business [3] - The company has also entered the humanoid robot sector, collaborating with Zhiyuan Robotics to deliver the Lingxi X1 robot, indicating future growth prospects in this area [3]