Summary of Haopeng Technology Conference Call Company Overview - **Company**: Haopeng Technology - **Industry**: AI and Energy Solutions Key Financial Performance - **Revenue**: 4.943 billion CNY, up 16% year-on-year [3] - **Net Profit**: 175 million CNY, up 126% year-on-year [3] - **Net Profit (Excluding Non-recurring Items)**: 162 million CNY, up 165% year-on-year [3] - **Operating Cash Flow**: 380 million CNY, up 177% year-on-year [3] - **Debt Ratio**: Decreased from 72.41% to 59.67% [3] - **Weighted Average Return on Equity**: Increased to 6.9%, up 3.84 percentage points year-on-year [3] Strategic Focus and Business Transformation - **AI Edge**: Company is transitioning towards high-value AI edge business, collaborating with leading global AI clients [2][3] - **Product Development**: Focus on AI edge energy solutions, with successful delivery of AI glasses energy solutions and service robot energy modules [2][5] - **Market Expansion**: Plans to launch high-value products in emerging fields like data centers, with expected shipments starting in Q3 2026 [4][8] Product and Technology Advancements - **Energy Solutions**: Solid-liquid solutions have been commercialized in high-end backup power [5] - **Battery Technology**: Laboratory samples of pure silicon anode batteries show energy density improvement of at least 50% compared to traditional graphite anode batteries [5] - **AI Glasses Market**: Anticipated exponential growth in AI glasses market, targeting 20%-30% market share with potential for 60%-70% in specific clients [4][17] Storage Business Performance - **Profitability**: Storage business achieved profitability with a year-on-year growth rate of 185% [6] - **International Orders**: Over 70% of contributions from overseas clients, with orders planned through Q1 2026 [6] - **Future Products**: Plans to introduce differentiated storage products for residential and commercial use [6] Market Challenges and Responses - **Cobalt Lithium Price Increase**: Company is addressing the impact of rising cobalt lithium prices through pricing adjustments and product upgrades [7] - **Supply Chain Management**: Focus on optimizing order structure and enhancing product quality to avoid price competition [7][23] Future Outlook - **Revenue Growth**: Optimistic about achieving double-digit revenue growth and significant improvement in profitability by 2026 [18][20] - **Emerging Applications**: Expectation of strong demand in consumer electronics driven by AI technology, with a focus on innovation and product upgrades [24] Competitive Advantages - **Market Position**: Established trust in overseas high-end markets since 2003 through product quality and timely delivery [22] - **Innovation Focus**: Continuous investment in technology and application innovation to maintain competitive edge [22] Conclusion Haopeng Technology is positioned for significant growth in the AI and energy solutions market, with strong financial performance, strategic partnerships, and a focus on innovation and product development. The company is navigating market challenges effectively while preparing for future opportunities in emerging applications.

Group 1 - Lens Technology (300433) (06613) saw a stock increase of over 4%, currently up 4.46% at HKD 30.44, with a trading volume of HKD 309 million [1] - Reports indicate that OpenAI has signed an agreement with Apple’s device assembler, Luxshare Precision (002475), to develop a consumer-grade device, suggesting a strategic collaboration within the Apple supply chain [1] - Analysts from Credit Lyonnais noted that OpenAI is also in discussions with Lens Technology and AAC Technologies regarding component supply, highlighting the rationale behind OpenAI's choice to collaborate with Apple supply chain companies [1] Group 2 - Following the unexpected strong pre-sale performance of the iPhone 17 standard version, Apple has requested Luxshare Precision to increase the daily production of the standard iPhone 17 by approximately 40% and has notified some non-electronic component suppliers to raise their daily supply by about 30% [1] - Zhonghang Securities pointed out that Lens Technology is deeply integrated with major client Apple, benefiting from a new wave of innovation and expanding into automotive electronics as a second growth curve, with early-stage developments starting to yield results [1] - The firm is optimistic about the growth opportunities within the Apple supply chain, particularly regarding foldable screens and the expansion of AI-related business, which is expected to enhance the company's long-term prospects [1]

Core Viewpoint - The stock of Lens Technology (06613) has risen over 4%, currently at HKD 30.44, with a trading volume of HKD 309 million, driven by news of partnerships and increased production demands from major clients like Apple [1] Group 1: Partnerships and Collaborations - OpenAI has signed an agreement with Luxshare Precision, a major assembler for Apple, to develop a consumer-grade device, indicating a strategic collaboration within the Apple supply chain [1] - Reports suggest that OpenAI is also in discussions with Lens Technology and AAC Technologies regarding component supply, which aligns with OpenAI's team composition from Apple [1] Group 2: Production and Demand - Following the strong pre-sale performance of the standard iPhone 17, Apple has requested Luxshare Precision to increase the daily production of the standard iPhone 17 by approximately 40% [1] - Apple has also notified some non-electronic component suppliers to raise their daily supply by about 30%, reflecting a surge in demand [1] Group 3: Market Outlook and Growth Opportunities - Zhonghang Securities indicates that Lens Technology is deeply integrated with major client Apple, benefiting from a new wave of innovation and expanding into automotive electronics as a second growth curve [1] - The firm is optimistic about opportunities in the Apple supply chain, particularly with the growth of foldable screens and the expansion of AI-related business [1]