HK Stock Market Move | AAC TECH (02018) rose more than 6% during trading; Goldman Sachs believes that foldable phones will bring opportunities for the company's high-end products.

AAC Tech (02018) rose more than 6% intraday, rising 3.7% to HK$29.45 by the time of the report, with a trading volume of HK$105 million. On the news front, Goldman Sachs recently released a report stating that Huawei launched the "Tri-fold" Mate XT phone on September 11, with each unit priced at a minimum of RMB 19,999. The bank noted that leading smart phone brands have introduced various forms of foldable smart phones, including flip-fold and tri-fold models, from June to September this year. The bank is optimistic about the new smart phone form factor, which may attract more end users to upgrade their phones. In terms of audio and camera quality, the bank mentioned that foldable phones require thinner bodies to control the total thickness when folded, leading to a demand for thinner speakers and cameras. Foldable phones present an opportunity for AAC Tech's high-end products, such as speakers based on Knowles speaker technology, innovative material applications, and high-performance speakers with industry-leading thinness.