Huawei, Apple suppliers' shares rise

Melody Chen and agencies

Shares of smartphone component suppliers rose in Hong Kong ahead of Huawei's latest flagship launch and amid news that Apple's chief executive had emphasized importance of the Chinese supply chain during his latest visit to the mainland.

AAC Technologies (2018) jumped nearly 7 percent, BYD Electronic International (0285) rose 0.44 percent, Sunny Optical Technology (2382) gained 1.2 percent and Q Technology (1478) climbed 4.7 percent.

Huawei's two new smartphone models under the Mate series, set to launch this afternoon, have together received nearly 4 million pre-orders.

The Mate 70 Pro+ is Huawei's final flagship release of the year. It features a three-hole front design and a micro-quad curved screen for an immersive visual experience.

The other model, the Mate X6 Foldable, showcases its interactive AI gameplay and office work capabilities in Huawei's video teaser.

Both smartphones began presales on November 18 and 20, respectively, but their prices are yet to be announced.

Meanwhile, Apple chief executive Tim Cook, on his third visit to China this year, emphasized yesterday at a suppliers' conference that Apple's success would not be possible without its Chinese partners.

"I value them very highly. We could not do what we do without them," Cook said in response to a question about Apple's Chinese partners.

Over 80 percent of Apple's 200 key global suppliers have factories in China, and the company has invested more than US$20 billion (HK$156 billion) in smart and green manufacturing in the country over the past five years, according to CCTV News.

Also yesterday, Wang Shouwen, China's vice commerce minister, met in Beijing with Jay Puri, an executive vice president of Nvidia's worldwide field operations, China's Ministry of Commerce said.

This comes after the Biden administration was reported to unveil new export restrictions on China as early as this week, which could add up to 200 Chinese chip companies to a trade restriction list that bars most US suppliers from shipping goods to the targeted firms.