Lens(SZ:300433) Zhi Tong Cai Jing·2025-08-28 08:43Core Viewpoint - Bank of America Securities has raised the target price for Lens Technology (06613) to HKD 30, reflecting optimism about the company's new projects and the iPhone upgrade cycle [1] Group 1: Company Outlook - Lens Technology's management anticipates several new projects to accelerate in the second half of this year and into next year, covering areas such as smartphones, smart glasses, automotive, robotics, and AI servers [1] - The company maintains a positive outlook on the iPhone upgrade cycle, expecting it to sustain for several years after a quiet period of four years [1] - The management emphasized that the current value enhancement is more significant compared to the previous upcycle [1] Group 2: Financial Projections - Bank of America has reiterated a "Buy" rating for Lens Technology's H-shares and A-shares, with profit forecasts for 2025 to 2027 increased by 5% to 8% [1] - The target price for H-shares has been raised from HKD 26 to HKD 30, while the target price for A-shares has increased from RMB 29 to RMB 34 [1] Group 3: New Business Developments - Starting in the second half of this year, Lens Technology will begin delivering automotive glass, with mass production expected next year to serve more clients [1] - The company is currently undergoing Tesla certification [1] - In the AI server segment, Lens Technology has secured liquid cooling orders and plans to ramp up production starting in the second half of this year [1] - The company aims to participate in SSD module production next year and plans to join server assembly work in the following year [1]