Lens(SZ:300433) Zhi Tong Cai Jing·2025-08-28 09:27Core Viewpoint - Bank of America Securities has a positive outlook on Lens Technology (06613), anticipating several new projects in the second half of this year and next year across various sectors including smartphones, smart glasses, automotive, robotics, and AI servers [1] Group 1: Company Outlook - Management is optimistic about the iPhone specification upgrade cycle, expecting it to sustain for several years after a quiet period of four years [1] - The company emphasizes that the current value enhancement is more significant compared to the previous upcycle [1] Group 2: Financial Projections - The firm maintains a "Buy" rating for Lens Technology's H-shares and A-shares (300433.SZ), raising the profit forecast for 2025 to 2027 by 5% to 8% [1] - The target price for H-shares has been increased from HKD 26 to HKD 30, while the target price for A-shares has been raised from RMB 29 to RMB 34 [1] Group 3: New Business Developments - The company plans to start delivering automotive glass in the second half of this year, with mass production expected next year to serve more clients [1] - Tesla certification is currently in progress [1] - In the AI server segment, Lens Technology has secured liquid cooling orders and will 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]