Core Viewpoint - The Hong Kong stock market saw a continued rise in Apple-related stocks, driven by positive supply chain news regarding the upcoming iPhone Fold, which is expected to be released by the end of next year [1] Group 1: Stock Performance - AAC Technologies (瑞声科技) rose over 4.21% to a price of 39.560 [2] - BYD Electronics (比亚迪电子) increased by 2.96% to 34.800 [2] - Hon Teng Precision (鸿腾精密) saw a rise of 2.81% to 5.120 [2] - Q Technology (丘钛科技) gained 2.41% to 9.780 [2] - Lens Technology (蓝思科技) increased by 2.06% to 25.760 [2] - Sunny Optical Technology (舜宇光学科技) rose by 1.41% to 68.400 [2] - GoerTek (高伟电子) saw a slight increase of 1.13% to 30.340 [2] Group 2: Product Development - Apple's first foldable phone, the iPhone Fold, has entered the Engineering Validation Test (EVT) and pre-production stages, with only minor design adjustments remaining [1] - Recent supply chain reports indicate that component manufacturers are already in a state of readiness, suggesting that the final design of the iPhone Fold is largely confirmed and a release is highly probable next year [1]

Group 1 - The core viewpoint of the articles indicates that Apple is expected to reclaim its position as the world's largest smartphone manufacturer after more than a decade, driven by strong sales of the new iPhone series and a surge in consumer upgrades [2][3] - Apple is projected to achieve double-digit year-on-year sales growth in both the Chinese and American markets, thanks to the popularity of its new models [2][3] - According to Counterpoint Research, Apple's market share is expected to reach 19.4% in 2025, marking its first return to the top of global smartphone sales since 2011 [3] Group 2 - Several Hong Kong-listed Apple concept stocks have seen significant increases, with companies like Q Technology and GoerTek rising over 4%, and others like Sunny Optical and Lens Technology also experiencing gains [1][2] - The anticipated growth in iPhone shipments is estimated at around 10% for 2025, while Samsung's growth is expected to be only 4.6% [3] - The overall global smartphone market is projected to expand by approximately 3.3% in 2025 [3]

| 代码 | 名称 | 最新价 | 涨跌幅 √ | | --- | --- | --- | --- | | 01415 | 高伟电子 | 29.960 | 4.24% | | 01478 | 丘钛科技 | 9.400 | 4.44% | | 06088 | 倒蝶糖塑 | 5.160 | 2.58% | | 02382 | 舜宇光学科技 | 64.600 | 1.25% | | 06613 | 蓝思科技 | 23.940 | 1.10% | | 00285 | 比亚迪电子 | 33.680 | 0.60% | | 02018 | 瑞声科技 | 37.140 | 0.43% | | 02038 | 富智康集团 | 19.150 | 0.37% | 本文源自：格隆汇 格隆汇11月27日｜港股苹果概念股普遍上涨，其中，丘钛科技、高伟电子涨超4%，鸿腾精密涨2.6%， 舜宇光学、蓝思科技涨超1%，比亚迪电子、瑞声科技、富智康集团跟涨。 据Counterpoint Research最新分析，由于新款iPhone系列热销以及消费者换机热潮的推动，苹果公司有望 在十多年后再次登顶全球最大智能手机制造商。研究人员指出，新机型吸 ...

Group 1 - Apple reported Q4 FY2025 revenue of $102.466 billion, an 8% year-over-year increase, and net profit of $27.466 billion, up 86.4% year-over-year, marking a historical high for the quarter [1] - iPhone revenue and services revenue both reached record highs, according to CEO Tim Cook [1] - Revenue from Greater China was $14.493 billion, a decline of 3.6% year-over-year, indicating weaker performance of the iPhone 16 in the Chinese market [1] Group 2 - IDC reported that approximately 68.4 million smartphones were shipped in the Chinese market in Q3, reflecting a 0.6% year-over-year decline, continuing the downward trend [1] - Q3 is traditionally a slow season for smartphone sales, with fewer new product launches and releases [1] Group 3 - Hong Kong-listed Apple concept stocks generally declined, with notable drops including GoerTek down 4%, Sunny Optical and BYD Electronics down over 2%, and Lens Technology, Q Technology, AAC Technologies, and VTech also experiencing declines [2]

Group 1 - The core viewpoint is that Apple-related stocks in the Hong Kong market continue to rise, with notable increases in companies like Hon Teng Precision and Lens Technology [1] - The iPhone 17 series has seen a 14% increase in sales in China and the US within the first 10 days of its launch compared to the iPhone 16 series, indicating strong market performance [3] - The base model of the iPhone 17 has become a major growth driver in China, with sales nearly doubling compared to the previous generation, attributed to its enhanced features and competitive pricing [3] Group 2 - Apple's stock has performed strongly, reaching a new high since December of the previous year, and surpassing Microsoft to become the second-largest company by market capitalization in the US [3] - The strong sales of the new generation products in the Chinese market are a significant factor contributing to Apple's impressive stock performance [3] - Apple CEO Tim Cook has made his second visit to China this year, coinciding with the strong sales performance of the iPhone 17 [3]

Market Overview - On October 23, the A-share market rebounded, with all three major indices closing in the green. The Shanghai Composite Index rose by 0.22%, the Shenzhen Component Index increased by 0.22%, and the ChiNext Index gained 0.09%. The total trading volume in the Shanghai and Shenzhen markets was 1.64 trillion yuan, a decrease of 23.9 billion yuan from the previous trading day [1]. Sector Performance - The sectors that performed well included Shenzhen state-owned enterprise reform, coal, and energy metals, while sectors such as cultivated diamonds, engineering machinery, and oil and gas saw declines. Specifically, local stocks in Shenzhen led the gains, with over ten stocks, including Teli A and Shenzhen Saige, hitting the daily limit. The coal sector also saw a collective rise, with Dayou Energy achieving eight consecutive limit-ups [1]. - Quantum technology stocks surged in the afternoon, with companies like Shenzhou Information and Keda Guochuang hitting the daily limit. Lithium mining stocks strengthened in the afternoon, with Shengxin Lithium Energy hitting the daily limit. XWANDA (300207) rose by 1.71%, as it announced the launch of a new generation of polymer all-solid-state batteries at the 2025 New Energy Battery Industry Development Conference [1]. Financial Sector Movements - The financial sector experienced notable fluctuations, with Agricultural Bank of China ending its 14-day rising streak. The bank's stock price initially rose over 2% but later fell by 1.24% to close at 7.99 yuan per share, marking a significant adjustment after a rapid increase [3]. Apple Supply Chain Impact - Apple-related stocks declined, with a peak drop of 1.79% before closing down 0.29%. Notably, Dongshan Precision fell over 4%, while other companies like Keri Technology and Pengding Holdings dropped more than 3%. Analyst Ming-Chi Kuo indicated that demand for the newly launched iPhone Air was below expectations, leading to a reduction in output and capacity across the supply chain [4]. - The iPhone Air, which was launched at a starting price of 7,999 yuan, is Apple's first model to rely entirely on eSIM technology, eliminating the physical SIM card slot. The device is noted for its ultra-thin design, measuring only 5.6mm in thickness and weighing 165g, making it the thinnest model in Apple's history [4].

Market Performance - The Hong Kong stock market showed mixed performance with the Hang Seng Index down 0.09% at 25,757.60 points, the Hang Seng Tech Index down 0.81% at 5,875.23 points, and the National Enterprises Index down 0.18% at 9,206.73 points [1][1][1] Sector Movements - Major technology stocks experienced varied movements, with NetEase and Kuaishou down 1.6%, Xiaomi down 0.91%, while Meituan rose 1.4%. Alibaba, Tencent, Baidu, and JD.com saw positive performance [1][1][1] - Oil prices increased following U.S. sanctions on two major Russian oil companies, leading to gains in Chinese oil stocks, with China National Offshore Oil Corporation rising over 4% initially [1][1][1] - Gaming stocks rebounded, with Sands China rising over 3% after a positive earnings report, and CICC raised its forecast for Macau's gaming revenue for next year [1][1][1] - Banking stocks remained active, with Agricultural Bank of China achieving an 11-day consecutive rise, hitting a historical high [1][1][1] - Other sectors such as aluminum, water utilities, coal, and shipping stocks showed some activity [1][1][1] Negative Trends - Supply chain adjustments were noted as demand for iPhone Air was reported to be lower than expected, leading to a collective decline in Apple-related stocks [1][1][1] - Gold prices continued to retreat, with Shandong Gold experiencing a cumulative drop of over 20% in the past eight days [1][1][1] - Other sectors including biopharmaceuticals, semiconductor chips, paper, heavy machinery, and military stocks also faced declines [1][1][1]

Group 1 - The core viewpoint indicates that Apple-related stocks in Hong Kong have collectively declined, with significant drops in companies such as 富智康集团 (5.5% down) and others like 鸿腾精密 and 丘钛科技 (over 4% down) [1] - Renowned Apple analyst 郭明錤 from 天风国际 has reported that the demand for iPhone Air is lower than expected, leading the supply chain to reduce shipments and production capacity [1] - The supply chain's production capacity is expected to shrink by over 80% by Q1 2026, with some components anticipated to cease production by the end of 2025 due to the inability to find new market segments [1] Group 2 - Specific stock performance includes 富智康集团 at 18.240 with a decline of 5.49%, and other companies like 丘钛科技 at 14.090 (down 4.28%) and 蓝思科技 at 25.880 (down 4.01%) [2] - Other notable declines include 比亚迪电子 (3.58% down), 高伟电子 (3.40% down), and 舜宇光学科技 (2.32% down) [2] - The overall trend reflects a challenging environment for Apple-related stocks, driven by reduced demand and production adjustments in the supply chain [1][2]

Core Viewpoint - Apple-related stocks have experienced significant declines due to lower-than-expected demand for the iPhone Air, leading to supply chain adjustments and potential production cuts [1] Group 1: Stock Performance - FIH Mobile (02038) fell by 6.22%, trading at HKD 18.1 [1] - Hon Teng (06088) decreased by 5.51%, trading at HKD 5.32 [1] - Q Technology (01478) dropped by 4.82%, trading at HKD 14.01 [1] - GoerTek (01415) declined by 3.95%, trading at HKD 31.62 [1] - BYD Electronic (00285) fell by 3.79%, trading at HKD 37.04 [1] Group 2: Supply Chain Insights - Analyst Ming-Chi Kuo indicated that demand for the iPhone Air is below expectations, prompting the supply chain to reduce shipments and production capacity [1] - Supply chain capacity is expected to shrink by over 80% by Q1 2026, with some components anticipated to cease production by the end of 2025 [1] - Existing Pro and standard models are meeting most high-end user demands, making it challenging to identify new market segments [1] Group 3: Market Sentiment and Trade Variables - Trade variables are affecting market sentiment, but the impact of tariffs on Apple’s supply chain companies should not be overstated [1] - Apple maintains strict requirements for suppliers, and domestic supply chain companies are deemed irreplaceable [1] - Equipment companies may see Apple redirect resources towards cost-reduction and efficiency-enhancing technologies such as flexible automation and 3D printing [1]

Group 1 - The Hang Seng Index rose by 0.65%, while the Hang Seng Tech Index increased by 1.26% [1] - Apple-related stocks experienced a general increase, with Hong Teng Precision rising over 5%, Lens Technology nearly 5%, and BYD Electronics up over 3% [1] - Bilibili saw a significant rise of over 8%, and SMIC increased by over 3% [1] Group 2 - Jiangsu Jiatong fell by over 11%, and Pop Mart dropped by over 8% [1]