Lens Technology Co., Ltd. (06613) climbed more than 4% in afternoon trading on Tuesday, with shares last up 4.19% at HK$24.82, on turnover of HK$135 million.

Market sentiment was lifted by reports that Apple's newly appointed CEO, Tim Cook, is expected to unveil the tech giant's first foldable smartphone at the company's autumn product launch event on September 9 (US time). Chen Jun, deputy general manager and chief analyst at Sigmaintell Consulting, noted in an interview that within Apple's domestic supply chain, both Lens Technology and Biel Optical are supplying glass covers for the foldable display.

Earlier, Lens Technology confirmed on its investor communication platform that it has been supplying UTG (ultra-thin glass), glass support plates, PET functional films, and 3D glass covers to its major North American customer for the foldable model, with volume shipments beginning at the end of the second quarter. Looking into next year, as the customer's foldable devices scale up in volume, Lens Technology's titanium frames, 3D printing, and 3D glass solutions are expected to be fully adopted in high-end models, providing a solid revenue contribution over the coming years.

Biel Optical's dedicated UTG production lines in Huizhou and Vietnam also began volume shipments around the same period and have been operating at full capacity for several months. With the customer's build target already raised to 10 million units, the dual-source supply arrangement is seen as a crucial measure to ensure production capacity and yield ramp-up.