智通财经网·2026-01-15 02:11Group 1 - Gao Wei Electronics (01415) shares increased nearly 3%, currently up 1.95% at HKD 30.28, with a trading volume of HKD 21.5 million [1] - Morgan Stanley's report indicates that Gao Wei Electronics underperformed the Hang Seng Index in Q4 last year due to market concerns over rising memory prices potentially weakening iPhone demand; however, the firm believes the market reaction is excessive, forecasting an 8% year-on-year growth in electronic manufacturing services shipments for the first half of this year [1] - The adjusted iPhone product line in the second half of this year is expected to benefit Gao Wei Electronics, as the company has a higher business proportion in Pro and Pro Max models, along with a continuous market share expansion [1] Group 2 - CITIC Securities emphasizes that imaging remains a crucial choice for smartphone manufacturers to create differentiated user experiences, with ongoing upgrades to the iPhone's imaging capabilities [1] - Changes in the supply landscape for Apple's rear camera present opportunities for Gao Wei Electronics to expand its market share, particularly with the introduction of main camera modules [1] - The camera module technology primarily consists of COB and FC processes, with only Apple currently adopting the FC process supply system, which has a high technical barrier and is more closed; this results in a limited number of suppliers for Apple's camera modules due to stringent supplier requirements [1]