Lens Technology: Has supplied ground receiving terminal structural modules in bulk to leading overseas commercial space clients for three consecutive years

(Source: Caixin News)

In terms of AI server business, the company is expanding production at the Songshan Lake Park in Dongguan. With the finalization of the acquisition of Yuan Shi Technology, it will welcome intensive factory inspections and order placements from leading AI computing power clients both domestically and internationally.

On April 2nd, Lens Technology (300433.SZ) released an investor relations activity record showing that 2025 is a crucial year for the company’s transition and strategic upgrade. The company fully embraces the strategic opportunities of the AI era development, making exciting progress in multiple sectors including AI intelligent edge devices, AI servers, embodied intelligent robots, and commercial aerospace. The company has achieved its annual operational goals in main business growth, new sector layout, capital operations, and shareholder returns, with performance steadily increasing for four consecutive years.

Looking at the business segments, the smart phone and computer-related businesses achieved revenue of 61.18B yuan, a year-on-year increase of 5.94%, with a gross profit margin of 15.41%, up 0.30 percentage points from the same period last year. The smart vehicle and cockpit-related businesses achieved revenue of 6.46B yuan, an increase of 8.88% year-on-year, with a gross profit margin of 7.22%, down 2.95 percentage points from the same period last year. The smart headset and wearable device businesses achieved revenue of 100M yuan, up 14.04% year-on-year, with a gross profit margin of 19.91%, up 0.15 percentage points. Other smart terminal businesses achieved revenue of 300M yuan, down 25.34% year-on-year, with a gross profit margin of 16.84%, down 2.11 percentage points.

Meanwhile, the company has achieved significant results in cost reduction and efficiency improvement, R&D innovation, and capital operations. The company has deepened cost reduction and efficiency gains, with sales expenses decreasing year-on-year, and expense ratio decreasing by 0.22 percentage points; management expense ratio decreasing by 0.16 percentage points year-on-year. The company has conducted extensive research and development in areas such as foldable screen phones, embodied intelligent robots, AI glasses, smart vehicles, AI servers, TGV glass substrates, optical waveguide lenses, HDD glass hard drives, and aerospace-grade UTG glass, with R&D expenses reaching 400M yuan, an increase of 3.08%.

Regarding the revenue decline in the fourth quarter of last year, the company stated that one reason was exchange rate fluctuations, and the other was that some full device assembly businesses accounted for more revenue using net method according to contracts, but this had little impact on profit. For large customer foldable screen projects, the company supplies UTG glass, PET film, glass brackets, 3D glass covers, etc. The new projects have high value and leading market share.

On the impact of exchange rates, the company disclosed that in Q4 2025, exchange losses were about 1 billion yuan, while in Q4 2024, exchange gains were about 3 billion yuan, with a difference of approximately 4 billion yuan. The company stated that exchange rate fluctuations are short-term factors and is strengthening foreign exchange management.

Regarding capital expenditure plans, the company said it is strategically building reserves based on three core logics: meeting the continuous iterative process innovation needs of core consumer electronics clients; establishing a global delivery system through overseas production bases; and ensuring a smooth transition of forward-looking businesses such as embodied intelligence and commercial aerospace from “prototype delivery” to “mass production.” Currently, the company’s asset-liability ratio is 34.68%, the lowest in history.

In terms of business progress, the company revealed that it has supplied ground receiving terminal structural module components to top overseas commercial aerospace clients for three consecutive years. In the AI server business, the company is expanding production at the Songshan Lake Park in Dongguan. With the finalization of the Yuan Shi Technology acquisition, it will see intensive factory inspections and order placements from leading AI computing power clients both domestically and internationally.