知名分析师郭明錤在最新的报告中指出，苹果(AAPL.US)第一代iPhone折叠屏手机(iPhone Fold)铰链单 价预计在量产后降至约70–80美元，明显低于市场预期的100–120美元或以上。铰链单价大幅下调，有利 Apple降低成本提升利润，或反映于售价以扩大市占。 郭明錤表示，立讯精密（002475）(002475.SZ)最快可于2027年后加入并成为新铰链供应商。立讯精密 成为潜在供应商反应两个可能趋势：未来铰链单价仍有下行空间与铰链将成为系统组装厂的新战场。 郭明錤提到，鸿海与新日兴成立合资公司负责折叠iPhone铰链接单与生产，鸿海持股比重略高并主导未 来方向，该合资公司取得较高订单比重(约65%)，高于Amphenol(约35%)。铰链单价下降主因在于组装 设计优化与鸿海参与，而非上游零组件成本大幅下跌。受惠于鸿海的扩产与量产能力，合资公司因此取 得较高订单。鸿海透过与新日兴合资切入铰链事业，除着眼铰链本身的利润，强化与组装事业的垂直整 合优势亦是关键。 郭明錤指出，Amphenol订单占比较低，亦因对Apple扩产要求不积极，其考量可能在于绝对报酬（铰链 事业的获利成长性）与相对报酬（投 ...

郭明錤提到，鸿海与新日兴成立合资公司负责折叠iPhone铰链接单与生产，鸿海持股比重略高并主导未 来方向，该合资公司取得较高订单比重(约65%)，高于Amphenol(约35%)。铰链单价下降主因在于组装 设计优化与鸿海参与，而非上游零组件成本大幅下跌。受惠于鸿海的扩产与量产能力，合资公司因此取 得较高订单。鸿海透过与新日兴合资切入铰链事业，除着眼铰链本身的利润，强化与组装事业的垂直整 合优势亦是关键。 郭明錤指出，Amphenol订单占比较低，亦因对Apple扩产要求不积极，其考量可能在于绝对报酬（铰链 事业的获利成长性）与相对报酬（投资AI的报酬率或更高）。 智通财经APP获悉，知名分析师郭明錤在最新的报告中指出，苹果(AAPL.US)第一代iPhone折叠屏手机 (iPhone Fold)铰链单价预计在量产后降至约70–80美元，明显低于市场预期的100–120美元或以上。铰链 单价大幅下调，有利Apple降低成本提升利润，或反映于售价以扩大市占。 郭明錤表示，立讯精密(002475.SZ)最快可于2027年后加入并成为新铰链供应商。立讯精密成为潜在供 应商反应两个可能趋势：未来铰链单价仍有下行空间与铰 ...

【郭明錤称苹果折叠屏iPhone铰链成本低于预期，立讯精密有望2027年成供应商】郭明錤在报告中表 明，苹果可折叠iPhone铰链大规模量产成本预计为70至80美元，远低于此前市场普遍预估的每台100至 120美元。这一成本差异为苹果赋予了更大的定价灵活性，同时不会压缩其作为旗舰新品实验项目的利 润空间。富士康与新日兴已组建合资企业，承担大部分铰链单元的生产工作。据郭明錤估算，两家合计 市场份额约为65%，剩余约35%由安费诺供应。郭明錤还提到，立讯精密最快能在2027年加入并成为新 的铰链供应商。 本文由 AI算法生成，仅作参考，不涉投资建议，使用风险自担 本文由 Al 算法生成,仅作参考,不涉投资建议,使用风险自担 和讯财经 和而不同 迅达天下 扫码查看原文 和讯猎报 10.13 09:42:15 周一 苹果折叠屏iPhone: 铰链成本低于预 期,立讯有望2027入局 【郭明鎮称苹果折叠屏iPhone铰链成本低于预期, 立讯精密有望2027年成供应商】郭明鲜在报告中表 明,苹果可折叠iPhone铰链大规模量产成本预计为 70至80美元,远低于此前市场普遍预估的每台100 至120美元。这一成本差异为苹果 ...

10月11日，中国电信（601728）集团有限公司(以下简称"中国电信")携手三星电子举办心系天下三星W 系列新品发布会，推出新一代高端商务折叠屏智能手机——心系天下三星W26。 重塑铰链产业 作为智能手机领域的一大颠覆性创新，折叠屏手机的核心在于通过柔性OLED屏幕与精密铰链技术的结 合，实现屏幕的物理折叠与展开。 据悉，心系天下三星W26搭载骁龙8至尊版移动平台(forGalaxy)，NPU、CPU与GPU全面升级，另外， 产品还支持天通卫星通信，兼容卫星通话与短信服务。 当下，国内折叠屏手机市场愈发火热，已吸引不少生产厂商入局。中国电子商务专家服务中心副主任郭 涛对《证券日报》记者表示，未来，该产业唯有实现"硬件—软件—材料"的三维协同创新，才能解决折 叠屏"可用"到"好用"的跃升，最终实现从形态创新到体验创新的跨越，推动折叠屏从"小众尝鲜"走 向"大众普及"。 产品迭代加速 据记者梳理，今年以来，不少手机厂商先后发布了折叠屏手机新品。7月2日，荣耀在深圳发布了其 Magic V5折叠屏旗舰手机，以8.8毫米的厚度刷新了行业最薄纪录；此前的6月25日，vivo也已正式推出 了其新一代大折叠产品X Fol ...

Group 1 - Samsung China held the "Heartfelt World" series product launch event on October 11, officially releasing the new device Samsung W26, which is based on the Samsung Galaxy Z Fold 7 and features new color options of Danxi Red and Xuan Yao Black along with the Heartfelt World logo [1] - The Samsung W26 is priced at 16,999 yuan for the 16+512GB version and 18,999 yuan for the 16+1TB version [3] - The W26 has a folded thickness of 8.9mm and an unfolded thickness of 4.2mm, making it the thinnest phone in the Heartfelt World series, with a total weight of only 215g [3] Group 2 - The new device is equipped with the Qualcomm Snapdragon 8 for Galaxy mobile platform and includes Galaxy AI, supporting Tiantong satellite communication services [5]

Investment Rating - The report assigns an "Accumulate" rating to the company with a target price of 80.50 CNY [5][12][18]. Core Insights - The company specializes in precision components for folding machines, with expectations for continuous improvement in average selling price (ASP) per unit. The company is steadily advancing its domestic and international production capacity, enhancing its global supply capabilities [2][12][21]. - The projected revenue for the company from 2025 to 2027 is 12.37 billion CNY, 16.10 billion CNY, and 21.39 billion CNY, respectively, with net profit attributable to the parent company expected to be 1.07 billion CNY, 1.86 billion CNY, and 2.76 billion CNY [11][16][18]. Summary by Sections 1. Earnings Forecast and Valuation - The company is expected to achieve revenues of 814 million CNY in 2024, growing to 1.237 billion CNY in 2025, and 1.610 billion CNY in 2026, with a compound annual growth rate (CAGR) of 44.9% from 2024 to 2025 [11][16]. - The estimated earnings per share (EPS) for 2025, 2026, and 2027 are projected to be 0.66 CNY, 1.15 CNY, and 1.71 CNY, respectively, indicating significant growth rates of 43.3%, 73.9%, and 48.2% [11][12][18]. 2. Business Situation - The company focuses on MIM (Metal Injection Molding) and non-MIM components, with a strong presence in the supply chains of major smartphone brands, including Apple and Amazon. The company is well-positioned to benefit from the increasing demand for folding screen devices [21][22]. - The revenue from non-MIM precision components is expected to reach 460 million CNY in 2024, representing a year-on-year growth of 101.9%, driven by new projects from major clients [12][21][24]. 3. Production Capacity and Global Supply Chain - The company is making steady progress in establishing new production capacities both domestically and internationally, with factories in Changsha, Hunan, and Vietnam entering phased production [12][24].

科技媒体 Wccftech 昨日（10月8日）发布博文，报道称在最新投资简报中，分析师蒲得宇（Jeff Pu）透 露，苹果正研发首款折叠屏手机 iPhone 18 Fold，预计于2026年底发布。 材质方面，蒲得宇分析认为称 iPhone 18 Fold 为平衡强度、重量和散热管理，最大创新在于采用混合金 属框架，利用钛金属的结构强度来保证设备的耐用性，同时借助铝金属的轻量化特性来控制整机重量。 钛合金中通常会使用少量铝，而且这两种金属也可以以更高的比例混合。由于钛比铝重，苹果可能计划 在框架的承重部分使用钛，在其他部分使用铝，以减轻重量。 （荆楚网） 作为折叠屏设备的核心部件，铰链承受着巨大的机械应力。行业分析师郭明錤此前也曾透露，苹果将为 铰链部件选用钛金属和不锈钢，以确保其在反复开合下的稳定性和对齐精度。 屏幕方面，综合多方消息，iPhone 18 Fold 在展开后将拥有一块 7.8 英寸的内屏，此外还有一块 5.5 英寸 的外屏。彭博社的马克・古尔曼称其整体形态可能类似于将两台超薄的 iPhone Air 并排堆叠。 生产进度方面，蒲得宇透露 iPhone 18 Fold 交由富士康组装生产，目前 ...

Core Viewpoint - The company, Jingyan Technology, specializes in MIM components for foldable smartphones and has begun mass production of cooling solutions, positioning itself for growth in various sectors including smart wearables and data servers [1][2][5]. Group 1: Company Overview - Jingyan Technology's main products include MIM components and modules, with a significant portion of revenue derived from these products, accounting for nearly 60% of total revenue [2][6]. - The company reported a revenue of 1.415 billion yuan in the first half of 2025, representing a year-on-year growth of 41.19%, and a net profit of 80.75 million yuan, up 36.37% [2][6]. Group 2: Market Position and Opportunities - The foldable smartphone market is expected to see a shipment of around 10 million units in China by 2025, with a compound annual growth rate of 10.6% projected until 2028 [5]. - The anticipated entry of Apple into the foldable smartphone market is expected to accelerate industry growth, with foldable phone sales projected to increase by 40%-60% in 2026 [5][6]. Group 3: Product Applications and Expansion - MIM components are being utilized in various fields, including smart wearables and data servers, with the company increasing its MIM production capacity [8]. - The company plans to raise up to 578 million yuan through convertible bonds to fund new production projects for precision MIM components and expand its R&D capabilities [8][9]. Group 4: Cooling Solutions and New Growth Points - The company has begun mass production of cooling solutions, including liquid cooling modules and heat pipes, targeting applications in energy storage and edge computing servers [9]. - The liquid cooling business is expected to benefit from increased domestic investment in computing infrastructure, potentially becoming a new growth driver for the company [9]. Group 5: Institutional Perspectives - Analysts from Zhonghang Securities and Huaxin Securities express optimism about the company's ability to capitalize on high-growth trends in the foldable screen and cooling sectors [10].

Core Insights - Apple has officially launched the iPhone 17 series and iPhone Air, with detailed evaluations provided by industry analysts [1] - The iPhone Air emphasizes design but compromises on certain features, while the upcoming foldable iPhone is expected to enhance this design focus [2][3] Product Development - The foldable iPhone is anticipated to resemble "two iPhone Airs side by side," offering a thin overall appearance [4][6] - The expected price for the foldable iPhone is around $2000, making it more expensive than competitors like the Pixel Fold [7] - The iPhone Air has a thickness of 5.6 mm, suggesting that a foldable version could exceed 11 mm even with perfect alignment [10][11] - Apple is expected to utilize in-cell flexible OLED technology for the foldable iPhone, which could reduce thickness and improve design [14][15][16] Technical Specifications - The foldable iPhone is rumored to feature a 5.5-inch outer screen and a 7.8-inch inner screen, along with four cameras (two front and two rear) [19][20] - It will likely adopt eSIM technology and utilize Apple's custom C2 baseband and N1 communication chips [21] - The design will incorporate a titanium alloy frame and a hinge made from stainless steel and titanium alloy composites [24][26] Production Timeline - Apple has entered the initial prototype phase for the foldable iPhone, with expectations for completion of major prototype testing by the end of the year [32][33] - The engineering validation test (EVT) phase will be handled by major manufacturing partners, preparing for mass production [34] - The foldable iPhone is projected to launch in the second half of 2026, alongside the iPhone 18 Pro series [35][36] Market Strategy - Apple may adjust its iPhone release schedule, potentially delaying the standard iPhone 18 to spring 2027 to focus on the foldable model [36][38] - The recently launched iPhone 17 standard version has received many Pro features, positioning it as a strong contender in the market [37]

Core Insights - The iPhone 17 series and iPhone Air have been officially launched, with detailed evaluations highlighting Apple's strengths in design, technological innovation, and supply chain management [1] - The upcoming foldable iPhone is expected to feature a design reminiscent of "two iPhone Airs side by side," emphasizing a focus on design excellence [2][6] Product Design and Features - The foldable iPhone is anticipated to have a price around $2000, making it more expensive than competitors like the Pixel Fold ($1799) [3] - The expected thickness of the foldable iPhone, based on the iPhone Air's dimensions, could exceed 11mm, which may not meet industry standards for thinness [5][6] - The foldable iPhone is projected to utilize a new in-cell flexible OLED panel technology from Samsung, potentially making it the first smartphone to adopt this innovation [6][10] Technical Specifications - The foldable iPhone is rumored to have an external screen size of 5.5 inches and an internal display of 7.8 inches, along with a total of four cameras [10] - It is expected to adopt eSIM technology and utilize Apple's custom C2 baseband and N1 communication chips [11] - The design will likely incorporate a titanium alloy frame and advanced 3D printing techniques to reduce component size and weight [13] Production Timeline - Apple is currently in the Prototype 1 (P1) phase for the foldable iPhone, with expectations to complete major prototype testing by the end of the year [16][17] - The foldable iPhone is projected to launch in the second half of 2026, alongside the iPhone 18 Pro series [17][19] Market Strategy - To accommodate the foldable iPhone, Apple may adjust its release schedule, delaying the standard iPhone 18 to spring 2027 [19] - The iPhone 17 standard version has received significant upgrades, positioning it as a strong contender in the mid-to-high-end market [19]