Following Apple's removal of Ofilim from its supply chain, the majority of the company's touch module orders have been transferred to Lens Technology, according to cls.com.
Lens Technology's business covers window and exterior protection glass, sapphire, precision ceramics, precision metals, touch modules, cameras, button accessories, and assembly.
Earlier today, according to media reports, Apple removed Ofilim from its supply chain list, and all iPad touchscreen orders returned to Taiwan-based suppliers GIS and TPK.
Ofilim said in a statement the reports were fake news.
Currently, the company's top management is taking the matter seriously and is holding an emergency meeting, and will inform the market once it is confirmed, it said.
Ofilim was down by the daily limit of 10% in China's A-share market due to the negative news.
According to 21jingji.com, Ofilim supplies Apple not only with touch modules (for the iPad), but also with optical products (for mobile phone cameras). Ofilim saw a significant increase in revenue in the first half of the year, with optics making a significant contribution.
Previously, on July 21, 2020, the US Department of Commerce's Bureau of Industry and Security (BIS) announced that 11 Chinese companies would be included in the "entity list". Listed companies such as BGI Group, Ofilm, Tanyuan Technology, and KTK Group and their affiliates were included in the list.
Ofilm's main business is touch display business, camera communication business and biometrics business, and its products are widely used in the field of consumer electronics such as smartphones, tablets, smart cars, smart wearable electronics.
Ofilm's formal operations began in August 2002 and it was listed on the Shenzhen Stock Exchange in August 2010. Its latest share price is RMB 18.91 per share and its total market capitalization is RMB 50.958 billion.
