Group 1 - The core viewpoint of the article highlights the recent research conducted by Zhanbo Investment on a listed company, Lingyi iTech, which is expected to achieve significant revenue and profit growth in the first half of 2025 [1] - Lingyi iTech is projected to generate revenue of 23.35% year-on-year growth, reaching 23.625 billion yuan, and a net profit increase of 35.94%, amounting to 930 million yuan [1] - The company has established itself as a key player in humanoid robotics, with core technologies in servo motors and reducers, and has received orders both domestically and internationally, positioning itself among the top three intelligent hardware manufacturers globally [1] Group 2 - In the AI server sector, Lingyi iTech is expanding its capabilities in cooling and power supply, collaborating with partners to form a joint venture [1] - The company is also involved in the production of ultra-thin titanium alloy support components for Samsung's Z Fold7 and is participating in the assembly services for AI glasses [1] - Lingyi iTech has repurchased shares worth 320 million yuan and plans to distribute a cash dividend of 139 million yuan, totaling a return of 459 million yuan to investors [1]

Core Viewpoint - Guangdong Lingyi iTech Limited achieved significant growth in revenue and net profit in the first half of the year, indicating strong operational performance and strategic positioning in emerging technology sectors [1][2]. Financial Performance - The company reported a revenue of 23.625 billion yuan, a year-on-year increase of 23.35% [1] - Net profit attributable to shareholders reached 930 million yuan, up 35.94% year-on-year [1] - After excluding stock incentive amortization, net profit was 1.073 billion yuan, reflecting a 53.29% increase [1] - Operating cash flow was 1.673 billion yuan [1] - Basic earnings per share were 0.13 yuan, a 30.00% increase [1] - The weighted average return on equity was 4.59%, up 0.90 percentage points year-on-year [1] Shareholder Returns - The company repurchased 38.2319 million shares for a total of 320 million yuan [1] - A cash dividend of 139 million yuan was proposed, with total shareholder returns (dividends and buybacks) amounting to 459 million yuan, representing 49.40% of net profit [1] Business Segments - AI terminal business generated approximately 20.865 billion yuan in revenue, a 17.26% increase [1] - The automotive and low-altitude economy segment saw revenue of 1.183 billion yuan, up 38.41%, with a gross margin increase of 13.27 percentage points [1] - Other business segments achieved revenue of approximately 1.577 billion yuan, reflecting a 212.98% increase [1] Robotics and AI Technology - Lingyi iTech has established a strong presence in the humanoid robot sector, with early investments and a comprehensive product offering [2] - The company has developed core technologies in robotics, including servo motors and gear reducers, and holds patents in multiple countries [2] - In the AI terminal market, the company supplies components for leading products, including the Samsung Galaxy Z Fold 7 [2] - Lingyi iTech is involved in smart glasses projects, providing various structural and functional components [2]

Group 1 - Apple is expected to launch its first foldable iPhone by 2026, resembling Samsung's book-style foldable design, featuring a four-camera system and returning to Touch ID technology [1] - Supply chain sources indicate that Apple suppliers have begun preparing for this model, with plans for mass production starting early next year to ensure a timely release in the fall [1] - Companies like 精研科技 are focusing on foldable screen technology, collaborating with major clients on various stages of product development, including technical consulting and mass production [1][2] Group 2 - The foldable smartphone market is currently dominated by Android devices, and Apple's potential entry could significantly influence the industry by addressing existing pain points [2] - 精研科技, a key supplier for Apple, is involved in providing components for foldable devices, while other suppliers like 领益智造 and 宜安科技 are also engaged in the foldable screen supply chain [3] - IDC reports that China's foldable smartphone market shipped approximately 700.7 million units in 2023, marking a 114.5% year-on-year increase, with projections of 917 million units in 2024, reflecting a slowdown in growth [3] Group 3 - Future development of foldable smartphones will focus on enhancing productivity and breaking down ecosystem barriers, as highlighted by IDC [4] - TrendForce indicates that advancements in technology and price reductions are making foldable phones a focal point in the mid-to-high-end market, with manufacturers preparing for a potential market explosion in 2026 [4] - Apple is considering the use of liquid metal for structural components, which could lead to significant upgrades in the supply chain if combined with advanced manufacturing techniques [4][5]

Core Viewpoint - The company, Lingyi Zhizao (002600.SZ), is supplying ultra-thin titanium alloy support components and other parts for the Samsung Galaxy Z Fold7 [1] Company Summary - Lingyi Zhizao is involved in the supply chain for high-end smartphone components, specifically for Samsung's latest foldable device [1]