研报掘金丨华鑫证券：予蓝思科技“买入”评级，战略收购元拾科技-切入英伟达生态

Core Viewpoint - The strategic acquisition of Yuan Shi Technology by Lens Technology marks a significant step into the NVIDIA ecosystem, enhancing its AI hardware layout and capabilities [1] Group 1: Acquisition and Strategic Positioning - Lens Technology has acquired Yuan Shi Technology, which is one of only five companies globally certified by NVIDIA for RVL, indicating a strong strategic positioning within the AI hardware sector [1] - Yuan Shi Technology has been providing core components such as MGXRack racks and slide systems for NVIDIA's GB200/GB300 series and is now involved in the development of NVIDIA's next-generation main server, Vera Rubin [1] Group 2: Business Growth and Diversification - Lens Technology, known for its smartphone glass cover manufacturing, has achieved steady growth in its traditional sectors while also expanding into the automotive and consumer electronics markets through technological upgrades [1] - The company has been investing in AI hardware since 2016, with the launch of its AI robotics facility in Yong'an Park scheduled for November 18, 2025, which will have the capacity to produce 10,000 large automation devices and 500,000 intelligent robots annually [1] Group 3: Future Outlook - The acquisition signifies Lens Technology's transition from AI edge hardware to foundational computing infrastructure, completing a "terminal + computing power" ecosystem that supports the global AI industry [1] - The company is expected to continue its steady growth in consumer electronics while actively expanding its AI hardware business, leading to a "buy" investment rating [1]