格隆汇1月23日丨蓝思科技(300433.SZ)在投资者互动平台表示，公司已与国内头部消费电子品牌建立长 期战略合作，将新材料、新技术广泛应用于多代中高端旗舰手机。 公司早已布局UTG和CPI等折叠屏的 制造工艺，具备快速量产折叠屏手机所需的柔性屏保护盖板、铰链结构件等核心模组的能力。 （原标题：蓝思科技(300433.SZ)：公司早已布局UTG和CPI等折叠屏的制造工艺） ...

格隆汇1月23日丨蓝思科技(300433.SZ)在投资者互动平台表示，公司已与国内头部消费电子品牌建立长 期战略合作，将新材料、新技术广泛应用于多代中高端旗舰手机。 公司早已布局UTG和CPI等折叠屏的 制造工艺，具备快速量产折叠屏手机所需的柔性屏保护盖板、铰链结构件等核心模组的能力。 ...

Core Viewpoint - Kosen Technology (603626.SH) announced the sale of its wholly-owned subsidiary, Kosen Medical, to Jiangsu Yaolingke Medical Technology Co., Ltd. for 915 million RMB, marking a significant strategic shift as the company exits the medical device sector [2] Group 1: Transaction Details - The transaction is based on an income approach, with the total equity value assessed at 913 million RMB as of September 30, 2025, reflecting an increase of 615 million RMB and a growth rate of 206.45% [2] - Kosen Technology expects to recognize approximately 600 million RMB in investment income from this divestiture, which will be recorded as non-recurring gains [2] - The deal is seen as a strategic acquisition for Yaolingke, enhancing its position in the precision medical device manufacturing sector [2] Group 2: Kosen Medical's Background - Kosen Medical has established itself as a competitive player in the medical device manufacturing industry, contributing to the high premium in the sale [7] - The company has collaborated with major clients like Medtronic, Zimmer, and Johnson & Johnson, providing critical components for various medical devices [9][10] - Despite its capabilities, Kosen Medical's revenue contribution has been low, accounting for about 10% of Kosen Technology's overall revenue, indicating its role as a supplementary business [6] Group 3: Reasons for Divestiture - Kosen Technology faced significant financial pressure, reporting cumulative losses of 873 million RMB from 2023 to the first three quarters of 2025, alongside high accounts receivable of 1.17 billion RMB [13] - The differing operational models between the consumer electronics and medical device sectors led to insufficient synergy, negatively impacting the efficiency of the core business [14] - The company aims to refocus on its core business in consumer electronics and energy storage, necessitating capital for overseas expansion projects [17] Group 4: Strategic Implications - The sale reflects broader challenges faced by manufacturing companies attempting to diversify into different sectors, particularly when operational demands and resource allocation become strained [26] - The entry of LYFE Capital into the medical manufacturing space signifies a shift towards asset acquisition in the global medical device sector, moving beyond previous focuses on R&D investments [27]

Core Viewpoint - The company, Lingyi Zhizao, has achieved record performance in Q3 2025, reflecting the success of its transformation into an AI terminal hardware manufacturing platform [1][2]. Financial Performance - For the first three quarters of 2025, the company reported revenue of 37.59 billion yuan, a year-on-year increase of 19.25% [1]. - The net profit attributable to shareholders reached 1.94 billion yuan, a significant year-on-year growth of 37.66% [1]. - Operating cash flow saw a substantial increase of 60.19%, totaling 2.30 billion yuan [1]. - In Q3 alone, revenue was 13.97 billion yuan, up 12.91% year-on-year, marking the fifth consecutive quarter of revenue exceeding 10 billion yuan [1]. - The net profit attributable to shareholders for Q3 was 1.01 billion yuan, a year-on-year increase of 39.28% [1]. Business Strategy and Growth Areas - The company has strategically focused on the AI terminal hardware sector, developing a product matrix that includes battery structural components, thermal management solutions, and fast-charging products [2]. - In the humanoid robot sector, the company has secured large-scale orders and established strategic partnerships with leading industry players [2]. - The AI glasses segment is projected to generate revenue of 4.04 billion yuan in 2024, with successful international applications enhancing the company's market position [2]. - In the foldable screen market, the company provides comprehensive solutions to top global clients, achieving breakthroughs in ultra-thin materials [2]. - The server segment has seen the company become a core supplier for AMD, leveraging proprietary technologies to meet high-performance demands [3]. Future Outlook - The company aims to deepen its core capabilities in the AI terminal hardware supply chain and expand into emerging markets, striving to become a global leader in this sector [3].