BRIEF: iPhone supplier Lens Technology eyes Hong Kong IPO
Shenzhen-listed mobile phone glass supplier Lens Technology Co. Ltd. (300433.SZ) announced on Thursday it plans to list in Hong Kong, aiming to advance its global strategic layout, enhance its international brand image and strengthen its overall competitiveness.
Founded in 1993 by Chinese businesswoman Zhou Qunfei, Lens Technology supplies cover glass for smart mobile devices, including Apple’s iPhone. Reports suggest that Apple plans to use ultra-thin glass (UTG) provided by Lens Technology for its future foldable devices, with Lens expected to secure approximately 70% of the orders. The company also entered into a strategic partnership with AI glasses maker Hangzhou Rokid Technology last monthto provide technical and supply chain support.
Lens Technology’s stock is already up 28.2% this year, as it benefits from China’s expanded consumer subsidy policies, bringing its market capitalization to 139.8 billion yuan ($19.3 billion). The stock opened 0.11% higher at 28.1 yuan in Shenzhen on Thursday before reversing course to close down 7.09% at 26.08 yuan by midday break.
By Lee Shih Ta
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