Sou Hu Cai Jing·2025-10-21 16:55Core Insights - Apple's stock surged by 3.94%, reaching an all-time high, which positively impacted its supply chain companies in the A-share market, such as Luxshare Precision and Lens Technology [1][3] Industry Analysis - The increase in Apple's stock is supported by a report from Counterpoint indicating that iPhone 17 sales in the first ten days exceeded those of iPhone 16 by 14% in both the US and China, demonstrating strong demand [3] - Major investment firms, including Loop Capital, upgraded Apple's rating from "hold" to "buy," setting a target price of $315, suggesting a potential 20% increase from current levels [3] Company Performance - Lens Technology, which primarily focuses on precision manufacturing for smart terminals, reported a revenue of 15.9 billion yuan in Q2, an 18.9% year-on-year increase, with a net profit of 710 million yuan, up 29.3% [3] - Lens Technology's revenue breakdown shows that 82% comes from mobile phones and PCs, while its smart automotive business grew by 16.45% in the first half of the year, and other smart terminal businesses saw a remarkable 128% increase [3] Valuation Considerations - Lens Technology currently has a price-to-earnings (P/E) ratio of 37, which is considered high given its reliance on major clients, with the top five clients accounting for 81% of its revenue, and Apple alone contributing nearly 50% [4] - Analysts predict that Lens Technology's net profit could reach 6.7 billion yuan next year, potentially lowering the P/E ratio to 23, making the valuation more reasonable [4] Investment Strategy - For long-term investors, it is advised to consider the company's fundamentals, valuation, and growth potential rather than chasing short-term price movements [4] - Investors should assess whether they are willing to invest time for potential growth in Lens Technology, especially with the anticipated decrease in P/E ratio [4]