Understanding the Market | Lens rises over 4% as Apple announces expansion of cooperation with Corning, the company is expected to benefit from the downstream processing of glass substrates
Lens rose over 4%, as of the time of writing, up 4.56%, reported at HKD 21.56, with a transaction volume of HKD 172 million. In terms of news, according to market media reports, recently, Apple announced an investment of USD 2.5 billion (approximately RMB 17.965 billion) to jointly build a glass substrate production line with Corning in Kentucky, USA, exclusively for iPhone and Apple Watch. Corning is a supplier of glass substrates for Apple, with production bases in the USA, Japan, South Korea, and Chongqing (newly put into production). It is reported that Lens is a supplier of glass back-end processing for Apple, with major production bases in Hunan, China, and Bắc Ninh, Vietnam. Corning has distribution centers in Hong Kong and Hunan to supply Lens, conducting back-end processing, and Lens does not bear the relevant international freight for glass substrates. This time, Corning's main production in the USA is for the next-generation material glass substrates, which not only helps in obtaining tariff exemptions but also benefits Lens in making updates and more complex designs for the next generation of products, further enhancing market competitiveness
According to Zhitong Finance APP, Lens (06613) rose over 4%, with a current increase of 4.56%, priced at HKD 21.56, and a transaction volume of HKD 172 million.
In terms of news, according to market media reports, Apple recently announced an investment of USD 2.5 billion (approximately RMB 17.965 billion) to jointly build a glass substrate production line with Corning in Kentucky, USA, exclusively for iPhone and Apple Watch. Corning is a supplier of glass substrates for Apple, with production bases in the USA, Japan, South Korea, and Chongqing (newly put into production).
It is reported that Lens is a supplier of glass back-end processing for Apple, with major production bases in Hunan, China, and Bắc Ninh, Vietnam. Corning has distribution centers in Hong Kong and Hunan to supply Lens, conducting back-end processing, and Lens does not bear the relevant international freight costs for glass substrates. This time, Corning is mainly producing next-generation glass substrates in the USA, which not only helps in obtaining tariff exemptions but also benefits Lens in making updates and more complex designs for the next generation of products, further enhancing market competitiveness
