[Brokerage Focus] Goldman Sachs: China’s subsidy policy for the Smart Phone Industry supports growth, paying attention to related supply chain companies.

Jinwu Finance | Goldman Sachs released a research report on China's Smart Phone industry on January 4, 2025. The report pointed out that the National Development and Reform Commission of China announced on January 3 that it will expand the scope of national subsidies in 2025 to cover Smart Phones, tablets, and smartwatches. Previously, local governments had already launched Smart Phone subsidy policies ranging from 10% to 20% in 2024. Goldman Sachs expects that national subsidies will cover more Consumers, thereby boosting recent market demand, although the long-term product cycle still relies on technological upgrades (such as 6G in 2030) or design changes (such as foldable Smart Phones).

Jingwu Financial News48minutes ago · Ratings

Hong Kong stocks moved differently | The mobile Industry Chain rose broadly in the morning as the national subsidies for Consumer Electronics were implemented, and Institutions are Bullish on the demand for Smart Phone upgrades.

The smartphone Industry Chain saw a broad increase in the early market. As of the time of writing, AAC TECH (02018) rose by 3.57%, trading at 39.15 HKD; Sunny Optical (02382) increased by 3.23%, priced at 68.8 HKD; BYD Electronics (00285) rose by 3.19%, trading at 42.1 HKD.

Zhitong Finance10:02

The International Consumer Electronics Show in 2025 is about to open, and the Consumer Electronics Sector is showing strong performance. ASMPT (00522) rose by 5.46%.

Jinwu Financial News | The Consumer Electronics Sector shows strong trends, ASMPT (00522) rises by 5.46%, BYD Electronics (00285) rises by 4.29%, SUNNY OPTICAL (02382) rises by 3.45%, AAC TECH (02018) rises by 3.04%, FIT HON TENG (06088) rises by 3.1%, Q TECH (01478) rises by 1.94%. In terms of news, the 2025 International Consumer Electronics Show (CES 2025) will be held from January 7 to 10, local time, in Las Vegas, USA. GTJA's Research Reports indicate that products like mobile phones and other consumer electronics.

Jinwu Financial News09:56

January 6 repurchase collection | TENCENT, HSBC Holdings, and others have made repurchases, among which TENCENT spent 0.701 billion HKD.

According to a disclosure document from HKEX on January 7, TENCENT (00700.HK) and HSBC Holdings (00005.HK) repurchased shares. ① TENCENT (00700.HK) repurchased 1.71 million ordinary shares on January 6, involving an amount of 0.701 billion HKD, with a repurchase price ranging from 415 HKD to 407.4 HKD per share. Since the repurchase authorization resolution, the total number of securities repurchased has been 0.235 billion shares, accounting for 2.499% of the total number of shares issued at the time the ordinary resolution was passed. ② HSBC Holdings (00005.HK) repurchased shares on January 3.

Futu News09:40

AAC TECH (02018.HK) repurchased 0.1845 million shares for 7.0119 million HKD on January 6.

On January 6, Gelonghui reported that AAC TECH (02018.HK) announced the expenditure of 7.0119 million HKD to repurchase 0.1845 million shares on January 6, 2025, with a repurchase price ranging from 37.55 to 39.15 HKD per share.

Gelonghui FinanceJan 6 16:53

Major ratings丨CITIC International: With the expansion of national subsidies, Xiaomi, Sunny Optical, Q TECH, and BYD Electronics will benefit.

Gelonghui, January 6 | China Merchants International released a report stating that the National Development and Reform Commission announced on January 3 the expansion of the national subsidy program to include more product categories, such as Smart Phones, tablets, and smartwatches, which was released earlier than market expectations. Although some provinces have already begun expanding the subsidy program to Smart Phones/tablets since August 2024, it is believed that the announcement of national subsidies will encourage other provinces to expedite the implementation of policies, which will boost overall replacement demand for Smart Phones in the short term. The report suggests that related companies with a high market share in the China brand/market will benefit, including Xiaomi, SUNNY OPTICAL, and QIYU.

Gelonghui FinanceJan 6 14:34 · Ratings