智通财经APP获悉，中国中免(01880)逆市涨超7%，截至发稿，涨6.9%，报83.7港元，成交额1.85亿港 元。 消息面上，瑞银发布研报称，海口海关数据显示，海南1月1至3日免税销售同比增长129%至7.12亿元， 免税购物人次按年增加61%。该行估算人均免税消费额为8527元，按年上升42.5%；而购买商品数量亦 按年增长52.4%。所有数据均胜市场预期。 该行认为，销售增长强劲，主要因海南在去年10月放宽了当地居民及离境旅客于海南免税店的购物政策 限制，推动购物人流增长。同时，人均消费额显著提升，主要由精品类别如服装、鞋履、手袋、珠宝等 及手机产品所带动。另外，地方政府亦持续提供免税购物补贴。该行较看好中国中免A股及H股，分别 予目标价99.59元及90.73港元，评级"买入"。 ...

Group 1: LIPO Technology Insights - The LIPO technology is expected to see a market scale growth, with Omdia predicting over 1 billion units of small-sized OLED shipments in 2025, covering devices like smartphones and smartwatches [2] - LIPO technology products, such as wristbands and smartphones, have entered mass production, with ongoing efforts to enhance technology and yield [3] - The company is optimistic about the future of LIPO technology and plans to expand its application areas [2] Group 2: Production and Capacity - The capacity utilization rate for backlight display modules in the first half of 2025 was 76.51%, with the average value of single backlight display modules remaining stable [4] - The company is in the process of ramping up production and yield for LIPO technology products, with future capacity planning based on market orders [4] Group 3: Financial Performance and Cost Management - The increase in operating costs in Q2 2025 was primarily driven by revenue growth and higher initial investments in LIPO and precision injection molding businesses [4] - The company’s equipment depreciation is accounted for in accordance with accounting standards, being recognized on a periodic basis [4] Group 4: Market Performance and Investor Relations - The company's stock performance has not aligned with its operational results and market conditions, prompting a focus on enhancing investor communication and operational performance to improve market perception [5] - The company is committed to addressing market performance issues through various measures, including improving operational results and increasing investor engagement [5] Group 5: Strategic Partnerships and International Expansion - The company has gained recognition from overseas automotive brands and is looking to establish deeper collaborations with international clients as part of its overseas market strategy [3] - The company is actively exploring AI applications and has established a Precision Industrial Division to enhance its core competitiveness in this area [3]