Group 1: Market Overview - The Hong Kong stock market experienced a rebound, with the Hang Seng Index closing at 24,221 points, up 149 points or 0.62% [2] - The Hang Seng Technology Index declined by 0.64%, while the main board turnover exceeded HKD 240.2 billion, a decrease of 0.8% from the previous day [2][3] - Northbound trading continued to show a net inflow trend, with a net inflow of HKD 5.036 billion, down 3.5% from the previous day [2] Group 2: Sector Performance - Among the 12 Hang Seng Composite Industry Indices, only the Information Technology sector declined by 0.51%, while the other 11 sectors reported gains, with Materials, Real Estate & Construction, and Financials leading with increases between 1.13% and 2.72% [3] - The Materials sector surged due to market expectations of improved operating conditions from the "anti-involution" initiatives, with major reductions in production announced in the photovoltaic, steel, and cement industries [3] Group 3: Company Analysis - Lens Technology - Lens Technology, established in 2003 and listed in 2015, is a leading provider of precision manufacturing solutions across the entire supply chain for smart terminals, covering materials, functional components, and assembly [9] - The company holds a market share of 13.0% in the global consumer electronics precision components and module solutions industry, and 20.9% in the smart automotive interaction systems sector [9][10] - Revenue projections for 2022-2024 are HKD 467.0 billion, HKD 544.9 billion, and HKD 699.0 billion, with a compound annual growth rate (CAGR) of 22.3% [10] Group 4: Industry Outlook - The global market for consumer electronics precision components and module solutions is expected to reach USD 66.3 billion by 2024, with a CAGR of 53.4% for AI glasses/XR headsets from 2025 [11] - The smart automotive interaction systems market is projected to grow from USD 4 billion in 2024 to USD 9.3 billion by 2029, with a CAGR of 18.2% [11] Group 5: Competitive Advantages - Lens Technology's vertical integration capabilities across the entire supply chain, along with strong customer relationships with leading brands, position it favorably in the market [12] - The company has robust R&D capabilities, focusing on new materials and technologies, which enhances its competitive edge [12] Group 6: IPO Details - The IPO subscription period is from June 30 to July 4, 2025, with trading expected to commence on July 9 [14] - The company anticipates net proceeds of approximately HKD 4.59 billion from the global offering, with funds allocated for product expansion, overseas business growth, and enhancing manufacturing capabilities [17]