LENS Technology (06613) surged over 6%, reaching a high of HK$23.26 and setting a new listing record. As of press time, the stock was up 6.52% to HK$23.2 with turnover of HK$210 million.

On the news front, CLSA released a research report stating that LENS Technology serves as a major supplier of glass covers and metal casings for Apple, benefiting from average selling price improvements, market share expansion, iPhone specification upgrades, foldable iPhone trends, and 3D glass developments.

Additionally, the company is a key supplier for Tesla's smart cockpit and has expanded into Xiaomi's automotive window glass segment. The company is also collaborating with industry leaders in emerging businesses including humanoid robots and AI-enhanced augmented reality (AR) glasses.

CLSA forecasts LENS Technology's revenue compound annual growth rate to reach 18% from 2024 to 2027, driven by factors including: increased market share in smartphones and computers, automotive product diversification, and expansion into emerging sectors. The firm initiated coverage with an "Outperform" rating and set an H-share target price of HK$28.2.