Core Viewpoint - Lens Technology Co., Ltd. is advancing its H-share issuance and plans to list on the Hong Kong Stock Exchange, aiming to raise approximately HKD 45.90 billion through the issuance of 262 million shares priced between HKD 17.38 and HKD 18.18 [1][2]. Group 1: H-Share Issuance Details - The company submitted its listing application to the Hong Kong Stock Exchange on March 31 and received approval from the listing committee on June 20 [2]. - The estimated net proceeds from the H-share issuance will be used for various purposes, including 48% for expanding product and service offerings, 28% for overseas business expansion, 14% for enhancing vertical integration in smart manufacturing, and 10% for working capital and other general corporate purposes [2]. Group 2: Investor Participation - Several cornerstone investors, including GreenBetter (a subsidiary of Xiaomi), UBS AM Singapore, and Oaktree, have committed to subscribe to shares at the IPO price, with a total subscription amounting to approximately USD 191 million (around HKD 1.49 billion) [3]. Group 3: Company Background and Business Scope - Established in 1993, Lens Technology became a certified supplier for Apple in 2007, producing touch screen glass for the first-generation iPhone, which significantly boosted its performance [3]. - The company has expanded its client base to include major manufacturers like Samsung and Xiaomi, and it was listed on the Shenzhen Stock Exchange in 2015 [3]. - Lens Technology provides a wide range of products in the consumer electronics sector, including protective glass, metal frames, and touch display modules, as well as assembly services [5]. Group 4: Recent Performance and Market Trends - The company has seen continuous revenue growth due to the recovery in the consumer electronics market, with projected revenues of CNY 466.99 billion, CNY 544.91 billion, and CNY 698.97 billion for the years 2022 to 2024, respectively [6]. - Correspondingly, the net profit attributable to shareholders is expected to rise from CNY 24.48 billion in 2022 to CNY 36.24 billion in 2024 [6].

Core Viewpoint - Lens Technology is a leading provider of one-stop precision manufacturing solutions for the entire industry chain of smart terminal products, ranking first in the global market share for precision structural components and module solutions in consumer electronics and smart automotive interaction systems, with shares of 13.0% and 20.9% respectively [4]. Group 1: Business Overview - Lens Technology provides a wide range of structural and functional module products for consumer electronics, including cover glass, metal frames, touch modules, display modules, thermal modules, RF antennas, biometric recognition, and wireless charging [4]. - In the smart automotive sector, the company develops and produces diverse automotive electronics and structural components, offering innovative solutions such as in-car electronic glass and components for central control screens and dashboards [4]. - The company is also expanding into emerging smart terminal fields, including humanoid robots, AI glasses/XR headsets, and smart retail, collaborating with leading companies to provide core components and assembly services [4]. Group 2: Financial Performance - For the fiscal years 2022, 2023, and 2024, Lens Technology reported total revenues of approximately RMB 466.99 billion, RMB 544.91 billion, and RMB 698.97 billion respectively, indicating a growth trajectory [5]. - The annual profits for the same periods were approximately RMB 25.2 billion, RMB 30.42 billion, and RMB 36.77 billion, reflecting a consistent increase in profitability [5]. - The revenue breakdown shows that contracts with customers accounted for 99.8% of total revenue across the three years, while rental income remained a minor component at 0.2% [7].