作为苹果产业链核心供应商，领益智造前三季度实现营业收入 375.90 亿元，同比增长 19.25%，归母净 利润 19.41 亿元，同比增长37.66%。 扣除股权激励摊销费用后，前三季度归母净利润 21.84 亿元，同比增长 52.30%。3Q25 单季度营业收入 139.65 亿元，同比增长 12.91%，归母净利润 10.12 亿元，同比增长 39.28%。扣除股权积累摊销费用 后，3Q25 单季度归母净利润 11.11 亿元，同比增长51.35%，扣非归母净利润 9.97 亿元，同比增长 60.67%。 根据华安证券研报，领益智造业绩表现上佳，多领域受益于大客户创新。从今年 iPhone 系列的升级可 以看到，iPhone 17 Pro 和 iPhone 17 Pro Max 首次引入 VC 均热板设计，同时边框回归铝合金，散热效 果大幅提升；电池方面，更多的机型开始使用钢壳电池；快充方面，17 系列充电功率提升至 40W。 11月18日新闻消息称，iPhone 17系列手机热销推动苹果公司10月份在中国的智能手机销量大增37%，显 示其在这一关键市场仍然拥有强劲的增长动能。市场研究公司Counter ...

11月17日，领益智造跌0.44%，成交额14.12亿元。两融数据显示，当日领益智造获融资买入额7898.52 万元，融资偿还1.15亿元，融资净买入-3562.87万元。截至11月17日，领益智造融资融券余额合计21.35 亿元。 资料显示，广东领益智造股份有限公司位于广东省江门市蓬江区龙湾路8号，成立日期1975年7月1日， 上市日期2011年7月15日，公司主营业务涉及新型电子元器件、手机及电脑配件的生产和销售。主营业 务收入构成为：AI终端88.32%，其他6.68%，汽车及低空经济5.01%。 截至9月30日，领益智造股东户数53.91万，较上期增加82.54%；人均流通股13300股，较上期减少 43.07%。2025年1月-9月，领益智造实现营业收入375.90亿元，同比增长19.39%；归母净利润19.41亿 元，同比增长38.17%。 分红方面，领益智造A股上市后累计派现32.24亿元。近三年，累计派现15.12亿元。 机构持仓方面，截止2025年9月30日，领益智造十大流通股东中，香港中央结算有限公司位居第二大流 通股东，持股1.74亿股，相比上期增加5389.17万股。华泰柏瑞沪深300 ...

Group 1 - Transsion Holdings, known as the "King of African Mobile Phones," plans to seek a secondary listing in Hong Kong to enhance its competitiveness and international brand image while diversifying its financing channels [2] - For the first three quarters of 2025, Transsion reported a revenue of 49.543 billion yuan, a slight decrease of 3.33% year-on-year, while net profit dropped significantly by 44.97% to 2.148 billion yuan [3] - In Q3 2025, despite a revenue increase of 22.60% to 20.466 billion yuan, net profit fell by 11.06% to 0.935 billion yuan, indicating a situation of "increased revenue but decreased profit" [3] Group 2 - The competitive landscape for Transsion is intensifying as other smartphone brands like Xiaomi, Honor, Samsung, and OPPO accelerate their expansion into the African market [4] - Transsion's financial report indicates that other regions, such as Asia, are gradually becoming the main revenue sources, replacing the African market [5] - Despite a significant decline in net profit, Transsion increased its R&D investment by 17.26% to 2.139 billion yuan in the first three quarters of 2025 [5] - The company's operating cash flow showed a remarkable increase of 164.66% to 3.285 billion yuan, attributed to a significant reduction in raw material procurement payments [5] - Transsion's move to list in Hong Kong aligns with the trend of A-share consumer electronics companies seeking listings abroad, following others like Lens Technology and Luxshare Precision [5] - As of November 13, 2023, Transsion's A-share price was 64.99 yuan per share, with a total market capitalization of 74.82 billion yuan [5]

经济观察报记者 郑晨烨 11月16日，第二十七届中国国际高新技术成果交易会（下称"高交会"）在深圳国际会展中心正式闭幕。 根据组委会披露的数据，本届展会展览总面积达40万平方米，吸引了5000余家企业参展，累计意向成交 金额突破1700亿元。 本届高交会，给记者留下深刻印象的，是展馆现场所呈现出的技术与应用深度融合的可能图景。从探索 浩瀚宇宙的航天重器，到支撑城市级算力的基础设施，再到具身智能的场景突围，这场科技盛会覆盖了 相当多的前沿领域，从中可以生动感受到中国创新力量的"技术大爆炸"。 当然，在这场"大爆炸"背后，所有创新成果又面临同一个避不开的问题：如何找到清晰、可量化的商业 落脚点？ 聚焦"商业化"落地 高交会开幕首日，中国航天科技（000901）集团的展台前人流络绎不绝，大家都是来看"惊喜"的，因为 在开幕前举行的新闻发布会上，深圳市科技创新局局长张林曾介绍，航天科技集团将在本届高交会上全 球首发中国太空旅游项目。 不过，当天航天科技集团并未在现场展出太空旅游相关项目，占据展台核心位置的，是一枚长征八号甲 运载火箭模型。现场工作人员向经济观察报记者介绍，长征八号甲运载火箭是面向未来低轨巨型星座组 网 ...

证券日报网讯创世纪（300083）11月17日在互动平台回答投资者提问时表示，公司已与比亚迪 （002594）电子、富士康、立讯精密（002475）、领益智造（002600）、长盈精密（300115）、宇树科 技、中国中车（601766）、上汽通用、中航工业等诸多知名品牌客户展开合作，并获得客户高度认可。 其他客户信息请以公司在指定信息披露媒体发布的定期报告及相关公告为准。 ...

Group 1 - The China International High-Tech Achievements Fair (High-Tech Fair) serves as a platform for global capital to discover potential investment opportunities in cutting-edge technology, with notable companies like Tencent and BYD having emerged from this event [1] - The fair attracts international attention, with many foreign visitors, including those from Canada, the United States, and Brazil, showing interest in advanced robotics and AI technologies showcased by various exhibitors [1][2] - The event features nearly 5,000 high-tech enterprises, providing a rich environment for investment and project collaboration, with Chinese investment institutions actively seeking promising startups [2] Group 2 - Russian companies are particularly interested in Chinese IT technologies, robotics, and semiconductor chips, indicating a growing international interest in China's technological advancements [2] - Investment professionals report engaging with numerous startups across various sectors, including artificial intelligence, medical devices, and agricultural products, highlighting the fair's role in facilitating connections between capital and innovative projects [2] - Analysts suggest that the robotics and innovative pharmaceuticals sectors are poised for significant growth, potentially leading to the emergence of billion-dollar companies in the future [2]

Group 1 - The China International High-Tech Achievements Fair (High-Tech Fair) serves as a platform for global capital to discover potential investment opportunities, with many leading tech companies like Tencent and BYD emerging from this event [1] - The 27th High-Tech Fair commenced in Shenzhen on November 14, attracting international investment institutions and investors [1] Group 2 - The fair showcased advanced technologies, with international investors showing interest in the application of robotics and automation in various industries [2][3] - Companies like Lingyi Manufacturing and Leju Robotics presented their innovations, attracting inquiries from overseas buyers regarding the capabilities and applications of their robots [2] Group 3 - International investors are particularly interested in how Chinese frontier technologies can be implemented in global markets, with specific interest from Russian companies in IT, robotics, and semiconductor technologies [3] - Japanese banks and other foreign entities are actively seeking to connect with Chinese startups to facilitate market expansion [3] Group 4 - Chinese investment institutions are also actively searching for potential investment targets at the fair, with significant interactions reported between investors and startup project leaders [4][5] - The fair has gathered nearly 5,000 tech enterprises, providing a rich environment for funding, project, and talent interactions, which is crucial for resource allocation [5] Group 5 - The focus on sectors such as artificial intelligence, robotics, and innovative pharmaceuticals indicates a growing market potential, with expectations of creating billion-dollar companies in these fields [5]

November 14, 2025 05:45 PM GMT Investor Presentation | Asia Pacific Greater China Technology Hardware: AI Tech Hardware in High Gear M Foundation Morgan Stanley Taiwan Limited+ Sharon Shih Equity Analyst Sharon.Shih@morganstanley.com +886 2 2730-2865 Morgan Stanley Asia Limited+ Andy Meng, CFA Equity Analyst Andy.Meng@morganstanley.com +852 2239-7689 Morgan Stanley Taiwan Limited+ Derrick Yang Equity Analyst Derrick.Yang@morganstanley.com +886 2 2730-2862 Howard Kao Equity Analyst Howard.Kao@morganstanley.c ...

Investment Rating - The industry investment rating is "Overweight" (maintained) [1] Core Insights - The domestic electronic sector continues to face pressure, with a notable decline in the electronic industry index by 4.44% this week, driven by factors such as the US tech stock pullback and ongoing storage price increases [3][4] - AI demand remains strong, leading to significant price hikes in storage, with Samsung increasing certain memory chip prices by 60% this month [5] - The North American data center construction is hindered by power shortages, impacting AI infrastructure development [5] Summary by Sections Market Review - The electronic industry index fell by 4.44% this week, with consumer electronics down 5.49% and semiconductors down 3.97% [3] - US tech stocks showed a slight recovery after the government shutdown ended, with notable gains from companies like Nvidia and AMD [3] Industry Updates - Domestic chip production is accelerating, with new product iterations and significant developments in AI-related hardware [4] - The AI glasses market saw a tenfold increase in sales during the Double Eleven shopping festival [4] Investment Recommendations - The report suggests focusing on technology sectors that have seen significant corrections but have potential catalysts, including companies like SMIC, Huahong Semiconductor, and others [6]

Investment Rating - The investment rating for the company is "Buy" and is maintained [8]. Core Insights - The company reported a revenue of 37.59 billion yuan for the third quarter of 2024, representing a year-on-year growth of 19.25%. The net profit attributable to shareholders was 1.941 billion yuan, up 37.66% year-on-year, while the net profit after deducting non-recurring items was 1.503 billion yuan, an increase of 26.67% [5][6]. - In the third quarter alone, the company achieved a revenue of 13.965 billion yuan, a year-on-year increase of 12.91%, with a net profit of 1.012 billion yuan, reflecting a growth of 39.28% year-on-year. The net profit after non-recurring items was 897 million yuan, up 46.47% year-on-year [5][6]. - The company's gross margin improved to 16.61%, an increase of 0.74 percentage points year-on-year, with a gross margin of 19.20% in the third quarter, up 1.99 percentage points year-on-year and 4.19 percentage points quarter-on-quarter [12]. - The company is expanding its business across four key areas: robotics, AI glasses, foldable screens, and servers, with significant growth in AI-related products and automotive business [12]. Financial Performance - The company’s revenue is projected to reach 44.21 billion yuan in 2027, with a net profit attributable to shareholders expected to be 2.539 billion yuan in 2025 and 3.438 billion yuan in 2026 [16]. - The company has made a strategic acquisition of Zhejiang Xianglong for 2.404 billion yuan, which will enhance its automotive business and align with trends in electrification and intelligence in the automotive sector [12].