Daily Investment Strategy
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Lens Technology(6613): achieved revenue of approximately RMB 74.41 billion in 2025, a year-on-year increase of 6.46%; net profit attributable to shareholders was approximately RMB 4.018 billion, a year-on-year increase of 10.87%. However, the fourth quarter performance was weak, with single-quarter revenue and net profit declining by 12% and 6% year-on-year, respectively, failing to meet market expectations. This was mainly due to factors such as exchange rate fluctuations, rising memory chip prices, and changes in accounting treatment. Looking ahead to 2026, although the first half of the year will still face pressure from exchange rate fluctuations and gross profit margins in the assembly business, the second half is expected to see a turning point with the mass production of foldable screen phones by major clients and the growth in demand for AI glasses. Overall, Lens Technology is in a transitional phase from traditional precision manufacturing to an AI full-scenario hardware platform.
Iranian President's Open Letter to the American People
Investors bet that the US-Iran conflict is nearing its end, and US stocks rose for the second consecutive trading day. The Nasdaq rose as much as 1.8%, but gains narrowed after midday reports that the US Department of Defense was accelerating the deployment of A-10 attack aircraft. The S&P 500 closed up 0.72%, and the Nasdaq closed up 1.16%. Trump said he would only consider a ceasefire if the Strait of Hormuz opened, while Iran stated that the Strait of Hormuz would not be open to enemies and that the ceasefire request was baseless. On the other hand, the Iranian president's open letter to the American people stated that the US is essentially acting as Israel's proxy, and that Iran has no hostility towards other countries and is not waging war. Iran reportedly demands that ceasefire negotiations must be predicated on a permanent end to the war, and US intelligence agencies believe that Iran currently has no intention of substantive negotiations.
Hong Kong Stock Connect saw a net outflow of HK$12.694 billion on Wednesday, with Tencent Holdings (700) experiencing the largest inflow at HK$1.063 billion, followed by 3SBio (1530). China National Offshore Oil Corporation (883) recorded the largest net outflow at HK$2.881 billion, followed by the Tracker Fund of Hong Kong (2800).
Leung Kai Tong is a SFC licensed person accredited to KGI Group to carry on regulated activities (for details, please refer to https://apps.sfc.hk/publicregWeb/indi/ADU276/details). He and/or his associate do not have any financial interest in the recommended issuer or new listing applicant.
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