智能硬件科技行业14年"老兵"——安克创新科技股份有限公司（简称：安克创新），开启"A+H"双资本 平台新征程。港交所披露，安克创新（300866.SZ）于12月2日递交主板上市申请，中金公司、高盛、摩 根大通担任联席保荐人。 智能充电储能"打头阵"，构建全球化产品与竞争壁垒 招股书显示，安克创新于2011年成立于中国，总部位于长沙国家高新区。2020年，公司在深圳证券交易 所创业板成功上市。 经过十余年发展，安克创新成为全球智能硬件科技行业极致创新产品的创造者。公司的产品覆盖三大产 品线——智能充电储能、智能家居及创新和智能影音。公司的产品涵盖移动充电、消费级储能、智能安 防、智能清洁、创意打印、智能音频以及智能投影等，形成覆盖个人消费、家庭场景、户外使用的全场 景智能硬件矩阵。 智能充电储能业务作为核心支柱，2024年收入占比达51.3%，产品涵盖便携式电源、阳台光伏储能、户 用储能等，其中SOLIX F3800 Plus便携式电源支持3.84kWh容量扩容至53.8kWh，Solarbank 3 E2700 Pro 阳台光伏储能设备实现即插即用。智能家居及创新业务增长迅猛，2025年前九月收入55亿元（ ...

Core Viewpoint - 瑞声科技 is positioning itself as a global leader in perception experience solutions, showcasing advancements in technology and product offerings across five major sectors: acoustics, electromagnetic transmission, optics, sensors, and automotive [1][2]. Group 1: Product Innovations - In the acoustics sector, 瑞声科技 presented a new generation of high-energy density speakers and innovative coaxial speaker 2.0, enhancing low-frequency performance by 2.5dB and achieving a diaphragm extension of 1.0mm [1]. - The company showcased self-developed micro-motor solutions in electromagnetic transmission, including a customized ultra-vibration motor for vivo X300 Pro, with steady and transient vibration increases of 30% and 68% respectively [1][2]. - In optics, 瑞声科技 achieved breakthroughs in WLG technology, improving yield and capacity, with flagship models already utilizing its glass-plastic hybrid lens [1][2]. Group 2: Market Dynamics - The growth outlook for 瑞声科技 is driven by both traditional business upgrades and new emerging sectors, with North American client hardware upgrades being a key factor for stable revenue growth [2][3]. - The North American market is experiencing a hardware upgrade cycle, with iPhone 17 series sales exceeding expectations, leading to increased orders for core components from 瑞声科技 [2]. - The company is positioned as a core supplier for the iPhone 17 Pro series VC cooling solutions, with expectations for further penetration in the upcoming 18 series [2]. Group 3: AI Hardware Opportunities - The AI hardware wave is opening new avenues, with OpenAI collaborating with Lixun Precision to develop consumer-grade AI edge devices, which aligns with 瑞声科技's technological capabilities in voice recognition and low-power motors [3]. - 瑞声科技 is actively positioning itself in the AI edge device market, collaborating with major brands to develop acoustic and optical modules for AI glasses, currently in the product validation stage [3]. Group 4: Financial Projections - 瑞声科技 maintains net profit forecasts for 2025-2027 at 2.406 billion, 3.081 billion, and 3.459 billion RMB, respectively, supported by improving profitability in the optics business and the growth of diverse applications in automotive and robotics [4].

Core Viewpoint - 瑞声科技 is positioned as a global leader in perception experience solutions, showcasing advancements in technology and product development across five major sectors: acoustics, electromagnetic transmission, optics, sensors, and automotive [4][5]. Group 1: Acoustics and Electromagnetic Transmission - The summit highlighted the new generation of high energy density speakers and innovative coaxial speaker 2.0 products, which enhance low-frequency performance by 2.5dB and improve diaphragm extensibility [4]. - The company presented a fully self-developed micro motor solution, including a customized ultra-vibration motor for vivo X300 Pro, with steady and transient vibration increases of 30% and 68% respectively [4][5]. Group 2: Optical and Thermal Management - In optics, the WLG (wafer-level glass) technology has achieved key breakthroughs, with yield and capacity steadily improving, and flagship models now featuring hybrid glass-plastic lenses [4]. - The thermal management product line showcased various materials for VC uniform heat dissipation plates and active cooling solutions, meeting the upgraded thermal performance demands of high-end models [4]. Group 3: Microphones and Automotive Acoustics - The company launched an 80dB high signal-to-noise ratio optical microphone, enhancing audio resolution by 20 times [5]. - In the automotive acoustics sector, 瑞声科技 integrates capabilities from PSS and Hebei Chuguang to provide comprehensive acoustic solutions for vehicles, currently working on solutions for the Zeekr 9X [5]. Group 4: Growth Drivers - The growth outlook for 瑞声科技 is driven by both "traditional business upgrades" and "emerging market layouts," with North American client product iterations being a cornerstone for steady revenue growth [5]. - The AI hardware wave is emerging as a new engine for value reassessment, with the company well-positioned to benefit from the demand for AI edge devices [6][7].