Core Viewpoint - The strategic acquisition of Yuan Shi Technology by Lens Technology marks a significant step into the NVIDIA ecosystem, enhancing its AI hardware layout and capabilities [1] Group 1: Acquisition and Strategic Positioning - Lens Technology has acquired Yuan Shi Technology, which is one of only five companies globally certified by NVIDIA for RVL, indicating a strong strategic positioning within the AI hardware sector [1] - Yuan Shi Technology has been providing core components such as MGXRack racks and slide systems for NVIDIA's GB200/GB300 series and is now involved in the development of NVIDIA's next-generation main server, Vera Rubin [1] Group 2: Business Growth and Diversification - Lens Technology, known for its smartphone glass cover manufacturing, has achieved steady growth in its traditional sectors while also expanding into the automotive and consumer electronics markets through technological upgrades [1] - The company has been investing in AI hardware since 2016, with the launch of its AI robotics facility in Yong'an Park scheduled for November 18, 2025, which will have the capacity to produce 10,000 large automation devices and 500,000 intelligent robots annually [1] Group 3: Future Outlook - The acquisition signifies Lens Technology's transition from AI edge hardware to foundational computing infrastructure, completing a "terminal + computing power" ecosystem that supports the global AI industry [1] - The company is expected to continue its steady growth in consumer electronics while actively expanding its AI hardware business, leading to a "buy" investment rating [1]

Core Viewpoint - The strategic acquisition of Yuan Shi Technology by Lens Technology marks its entry into the NVIDIA ecosystem, enhancing its AI hardware layout and capabilities [1] Group 1: Acquisition and Strategic Positioning - Lens Technology has acquired Yuan Shi Technology, which is one of only five companies globally certified by NVIDIA RVL, indicating a strong strategic positioning in the AI hardware sector [1] - Yuan Shi Technology has provided core components such as MGXRack racks and sliding rail systems for NVIDIA's GB200/GB300 series and is involved in the development of NVIDIA's next-generation main server, Vera Rubin [1] Group 2: Business Growth and Diversification - Lens Technology, known for its smartphone glass cover manufacturing, has achieved steady growth in its traditional sectors while expanding into the automotive and consumer electronics markets through technological upgrades [1] - The company has been investing in AI edge hardware since 2016, with the launch of its AI hardware production facility, capable of producing 10,000 large automation devices and 500,000 intelligent robots annually, set to open on November 18, 2025 [1] Group 3: Future Outlook - The acquisition signifies Lens Technology's transition from AI edge hardware to foundational computing infrastructure, completing a "terminal + computing power" ecosystem to support the global AI industry [1] - The company is expected to continue its steady growth in consumer electronics while actively expanding its AI hardware business, leading to a "buy" investment rating [1]

Core Viewpoint - The acquisition of PMG International Co., LTD by Lens Technology marks a strategic move to enhance its capabilities in AI hardware infrastructure, particularly through the integration of magnesium alloy technology in server cabinet manufacturing, thereby deepening its ties with NVIDIA's ecosystem [1][6]. Group 1: Company Overview - Lens Technology has signed an equity acquisition agreement to purchase 100% of PMG International Co., LTD, which holds a 95.12% stake in Yuan Shi Technology [1]. - Yuan Shi Technology specializes in cabinet shell manufacturing and has advanced magnesium alloy research and manufacturing capabilities, establishing a technological barrier in the server industry [1][2]. Group 2: Technological Advancements - Yuan Shi Technology is one of only five companies globally certified by NVIDIA for RVL, providing essential components for NVIDIA's GB200/GB300 series and participating in the development of the next-generation server, Vera Rubin [2]. - The integration of a "compute-power-cooling" architecture in its products has improved server deployment efficiency by 4.1 times and significantly reduced data center PUE values [2]. Group 3: Market Position and Future Outlook - The new NVIDIA Rubin NVL144 server, set to launch in 2026, will feature 3.3 times the computing power of its predecessor and utilize advanced cooling technologies, indicating a growing demand for high-performance AI servers [3]. - Lens Technology is transitioning from consumer electronics to becoming a key player in the AI hardware ecosystem, with plans to enhance its production capabilities in AI hardware and expand its market presence [4][5]. Group 4: Financial Projections - Revenue forecasts for Lens Technology from 2025 to 2027 are projected at 91.06 billion, 116.26 billion, and 139.93 billion yuan, with corresponding EPS of 0.96, 1.29, and 1.58 yuan, reflecting a positive outlook on its growth in both consumer electronics and AI hardware sectors [7].

Core Viewpoint - The acquisition of PMG International Co., LTD. by Lens Technology is seen as a strategic move to enhance its position in the AI computing power sector, particularly by gaining access to NVIDIA's supply chain through its subsidiary, Yuan Shi Technology [1][2]. Group 1: Acquisition Details - Lens Technology plans to acquire 100% of PMG International, which will allow it to obtain 95.1% of Yuan Shi Technology [1]. - Yuan Shi Technology is one of the few companies in China holding NVIDIA's RVL certification, which is crucial for entering the AI server hardware market [2]. - The RVL certification is considered a "golden ticket" in the AI server hardware field, indicating high reliability and integration capabilities [2]. Group 2: Technological Advantages - Yuan Shi Technology has already provided core components for NVIDIA's GB200/GB300 series, demonstrating its readiness for mass production [2]. - The company has developed an integrated solution that enhances server deployment efficiency by 4.1 times and significantly reduces the Power Usage Effectiveness (PUE) of data centers [2]. Group 3: Market Positioning - Yuan Shi Technology has joined NVIDIA's Vera Rubin development team, focusing on the next-generation server platform, which is expected to significantly increase computing power and cabinet value [3]. - The acquisition is expected to complement Lens Technology's existing precision component business, enhancing its capabilities in AI-related fields [4]. Group 4: Market Trends - The global demand for AI computing power is projected to grow exponentially, with predictions indicating that AI computing demand could reach 200 gigawatts by 2030 [5]. - The AI server market is expected to reach $298 billion by 2025, accounting for over 70% of the total server market value [5]. - Liquid cooling technology is anticipated to replace traditional air cooling due to its efficiency, with the Chinese liquid cooling server market expected to reach $3.39 billion by 2025, growing at a rate of 42.6% [5]. Group 5: Strategic Vision - Lens Technology has recognized the trend towards AI computing infrastructure and has been proactive in its strategy to develop AI server solutions, particularly in liquid cooling [6]. - The company aims to leverage its acquisition to enhance its market share in AI server cabinets and efficient liquid cooling systems, positioning itself as a leader in AI hardware [7].