---
title: "Citi Lowers Lens Technology's Profit Forecast Amid Weak Q1 Performance"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/282941589.md"
description: "Citi has downgraded Lens Technology's2026 net profit forecast by 13% to 4.36 billion yuan following weak Q1 results, attributed to reduced client procurement amid rising memory prices and foreign exchange losses. The target price for H-shares is lowered from HKD 27 to HKD 25 with a \"buy\" rating, while A-shares are adjusted from 32 yuan to 30 yuan with a \"neutral\" rating. Citi expects a recovery in Android demand and revenue from iOS foldable models starting in May, favoring H-shares for better risk-reward potential."
datetime: "2026-04-16T05:05:19.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/282941589.md)
  - [en](https://longbridge.com/en/news/282941589.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/282941589.md)
---

# Citi Lowers Lens Technology's Profit Forecast Amid Weak Q1 Performance

Citi has released a research report indicating that Lens Technology's (06613.HK) first-quarter performance fell short of expectations. According to Jin10, the company's management attributed the weak results to reduced procurement by clients due to rising memory prices and foreign exchange losses. Management anticipates that the impact of foreign exchange will diminish in the coming quarters, with revenue contributions from iOS foldable models starting in May and a potential recovery in Android demand in the second half of 2026. In response to the first-quarter results, Citi has lowered its 2026 net profit forecast for Lens Technology by 13% to 4.36 billion yuan, while maintaining its earnings estimates for 2027 and 2028. The target price for Lens Technology's H-shares has been reduced from HKD 27 to HKD 25, with a "buy" rating, and the target price for A-shares has been adjusted from 32 yuan to 30 yuan, with a "neutral" rating. Despite the disappointing performance in the first half of 2026, Citi believes that Lens Technology could benefit from restocking sentiment for iOS products from late Q2 to late Q3. The bank expresses a preference for H-shares due to better risk-reward potential.

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