On September 27th, Zheshang Securities research reports pointed out that Lens Technology (300433.SZ) is a global leading company in the field of appearance structural components, and has achieved vertical integration of the intelligent terminal industry supply chain through a platform extension of structural components + modules + assembly. In the coming years, the company is believed to achieve a platformized compound growth of over 35% on the basis of scale, potentially surpassing market expectations, while the release and iteration of Apple Intelligence will further drive growth beyond expectations. For Lens Technology, the firm determines that the company is expected to achieve a compound profit growth rate of over 35% in the next two years, exceeding expectations. Given a 20x PE valuation for the company in 2025, the corresponding market cap is 119.24 billion, with a potential upside of 48%, maintaining a "buy" rating.