HK Stock Market Move | AAC TECH (02018) surged over 9% in early trading; iPhone Duo supply remains tight; institutions note the company is a high-exposure Apple supply chain target.

AAC TECH (02018) rose over 9% in early trading. As of press time, it was up 7.84% at HK$37.96, with turnover of HK$117 million. On the news front, pre-orders for the iPhone Duo began on October 16, with wait times of about 13 to 14 weeks in major markets and delivery times extended to January 2027. According to supply chain sources, AAC TECH is the main supplier of the new-generation ultra-thin VC heat spreader for the iPhone 18 Pro series; the new phone's heat dissipation area is three times that of the previous generation, delivering a 40% sustained performance improvement and effectively resolving the high-load heat accumulation challenge of the 2nm A20 Pro chip. The iPhone Duo also features the company's flagship speakers, high-performance linear motors, and other core components. CLSA released a research report stating that AAC TECH is a high-exposure Apple supply chain target, and it is also bullish on the recovery in margins of its optics business and the rapid revenue growth across multiple business lines including thermal, AR/XR, Siasun Robot&Automation, and automotive, giving it a target price of HK$54.40.