Since September, over 20 Apple concept stocks have received increased financing from investors.

**Shanghai Electric Power Terminates 9-Year Cross-Border Acquisition**

On the evening of September 9, Shanghai Electric Power Co.,Ltd. (600021) announced that the company's board of directors convened on September 9, 2025, and approved the termination of the acquisition of a 66.40% stake in KE Company held by KES Energy Company. The termination was attributed to the transaction counterpart's failure to meet closing preconditions and changes in Pakistan's business environment. The transaction had no significant adverse impact on the company's production and operations, and since the closing preconditions were not met, the termination had no substantial impact on the company. The company committed not to plan any major asset restructuring within one month of the announcement disclosure.

The termination was not without warning signs. In the "Announcement on Progress of Major Asset Purchase Closing" dated August 20, Shanghai Electric Power clearly stated that "given that the transaction conditions have not been implemented and no longer meet implementation requirements, the company is organizing relevant parties to study matters related to terminating this transaction and fulfilling internal procedures."

KE Company, established in 1913, is Pakistan's only vertically integrated power company engaged in generation, transmission, distribution, and retail electricity business, and is listed on the Pakistan Stock Exchange.

Shanghai Electric Power's acquisition of KE Company began in August 2016 and has been delayed for over 9 years. As early as 2016, Shanghai Electric Power announced that the company would acquire 18.3 billion shares of Pakistan's KE Company through cash, representing approximately 66.40% of KE Company's total issued share capital. The payable consideration was $1.77 billion, with potential bonus payments to the transaction counterpart or its designated parties totaling no more than $27 million based on the target company's operating performance. At that time, internal sources at Shanghai Electric Power expected the acquisition to be completed as early as 2017.

According to Shanghai Electric Power's disclosed announcements, in July 2018, Pakistan's National Electric Power Regulatory Authority (NEPRA) published a "reconsidered" new multi-year tariff mechanism, which significantly reduced KE Company's profitability and equity value. In 2019, after completing supplementary due diligence and financial model adjustments, Shanghai Electric Power submitted an updated non-binding offer to seller KES Energy Company following special committee review, but the seller feedback indicated the offer was not accepted.

From 2020 to present, the company has conducted technical and tax supplementary due diligence as needed and continuously tracked the project situation. Currently, the transaction counterpart has failed to meet closing preconditions, and changes in Pakistan's business environment mean the transaction no longer aligns with the company's international development direction. Therefore, the decision to terminate the transaction was made in accordance with relevant provisions of the Share Purchase Agreement.

On the evening of September 9, Shanghai Electric Power also announced that the company's board of directors reviewed and approved investment decisions for the Shanghai Electric Green Energy Fengxian No. 1 offshore photovoltaic project and the Xinjiang Zhenyuan Heilongjiang Mudanjiang 400MW wind power project, with dynamic total investments including taxes not exceeding 3.78 billion yuan and 2.261 billion yuan respectively. The Fengxian No. 1 offshore photovoltaic project is located in the waters of Fengxian District, Shanghai, with an installed capacity of 500MW, and is Shanghai's first batch of offshore photovoltaic pilot projects.

**Apple Autumn Product Launch Event - iPhone Air Unveiled**

At 1:00 AM Beijing time today, Apple held its autumn launch event, introducing four models including iPhone 17, iPhone Air, iPhone 17 Pro, and iPhone 17 Pro Max. The iPhone 17 starts at $799, while iPhone Air starts at $999. Additionally, Apple released AirPods Pro 3 with AI-powered real-time translation capabilities, priced at $249.

iPhone Air features the "thinnest ever" design and comprehensive eSIM adoption as selling points, making it the thinnest iPhone to date at only 5.6mm thick. The device introduces eSIM technology (used globally including mainland China), achieving a transformation in communication technology. Under iOS 26, it incorporates AI power-saving technology, claiming to help users "use smoothly throughout the day."

The iPhone 17 standard version received its most significant upgrade in recent years, featuring a larger 6.3-inch Super Retina XDR display and supporting ProMotion adaptive refresh rate technology for the first time in the standard version. It's powered by the new A19 Bionic chip using advanced 3nm process technology, equipped with a 6-core CPU and 5-core GPU. The rear camera setup includes a 48-megapixel main camera and ultra-wide lens, significantly improving imaging quality.

iPhone 17 Pro and above models use the A19 Pro chip with 15% increased transistor density, a 6-core GPU, and support for local operation of 7-billion-parameter large models. The iPhone 17 Pro series also features Apple's "largest battery ever," with the iPhone 17 Pro Max battery capacity approaching 5000mAh, and thickness increasing from the previous generation's 8.25mm to 8.725mm.

Apple CEO Tim Cook stated: "The iPhone 17 Pro models represent a new pinnacle for our Pro series. These new iPhones also represent an unprecedented leap for iPhone."

A research report from TF Securities expressed optimism about investment opportunities in edge AI under the backdrop of policy support, tech giant leadership, and approaching launch event catalysts. Apple's recent developments demonstrate its determination for product innovation in edge AI, with potential for exceeding expectations in user experience and sales performance, suggesting attention to Apple's supply chain.

**Financing Clients Heavily Increase Positions in 10 Concept Stocks**

According to statistics, Apple concept stocks in the A-share market have averaged a 32.89% increase year-to-date, significantly outperforming the broader market. Hengpao, Foxconn Industrial Internet, Dongshan Precision, and Cosun Technology have all gained over 100% year-to-date.

Eight concept stocks have market capitalizations exceeding 100 billion yuan. Foxconn Industrial Internet has the largest market cap at 968.943 billion yuan. In recent research activities, the company expressed a positive attitude toward its structural components business performance in the second half of the year and next year, expecting opportunities for better profit elasticity driven by increased product processing complexity and customer product cycle iterations.

Luxshare Precision ranks second with a market cap of 345.994 billion yuan. The company recently stated that based on deep insights into the entire industry chain from components to modules to finished products, it believes consumer electronics market demand in the third and fourth quarters will show steady, slight growth.

From recent capital flows, since September, over 20 concept stocks have received increased financing, with 10 stocks seeing net purchases exceeding 100 million yuan. GigaDevice and Dongshan Precision led in financing net purchases since September, reaching 1.158 billion yuan and 1.101 billion yuan respectively.

From performance data, in the first half of this year, six stocks including Everbright Securities, VAC, Derunde Electronics, and Shenzhen Tianma A achieved turnarounds from losses to profits. CrearVision, SuZhou Solidstate, and WingTech led in first-half net profit growth, all increasing over 200% year-over-year.

Regarding performance expectations, among Apple concept stocks rated by 10 or more institutions, 15 concept stocks are expected to maintain over 20% growth in 2025-2026. Dongshan Precision, an important Apple supplier providing flexible printed circuit boards (FPC) and other products, is predicted by institutions to have net profit growth of 158.74% and 42.65% in 2025 and 2026 respectively.