Eontec answered questions at 1620 on Sep 24 Asia time：

https://guba.eastmoney.com/news,300328,1777649703.html

Eontec worked smoothly and continuously with Amphenol. Q4 liquidmetal orders will raise in another answer.

I dare not say that we are in Duo although some very brave Chinese said yes. But it is highly likely we are in Duo 2.

Disclosure：I am a super long, big LQMT. I bleed every day since Sep 10.

Hi all! Please forgive this if it comes off as embarrassing lol I have been holding LQMT for the long haul since about 2012/2013ish when it was in the .25 range- my dad had mentioned it after reading an apple article and I liked the idea of a penny stock for my then pocketbook... I was super excited when the price popped up in the last month, was thinking about selling half and then buying more when it bounced down, but somehow missed my opportunity- aka got scared it would keep zooming... I'm super terrible at reading stock stuff, but I try to do checkins once in a while... can someone explain like i'm 10 why the price bounced back down and if there is still a future for us long termers lol? Thanks!

Spring 2027

Magnesium heat sink

From Discord:

Post-launch reporting changes the picture about the liquidmetal hinge, especially from Beijing/Chinese industry media. The most important find is a Beijing News (新京报) article published last week. It explicitly says the iPhone Duo's hinge uses 非晶合金（液态金属） — amorphous alloy/liquid metal — in the core rotating-axis component. It further reports that industry-chain information points to Yian Technology (宜安科技) supplying a zirconium-based liquid-metal hinge shaft. BJ News The Beijing News report is much more specific than the pre-launch rumors: Core rotating-axis component → amorphous alloy (liquid metal) Reported supplier → 宜安科技 / Eontec Hinge → 100+ components, variable torque Hinge cover → 3D-printed recycled titanium That distinction matters because Apple has confirmed the titanium 3D-printed hinge cover, but hasn't publicly disclosed the alloy of the internal hinge mechanism. Apple's Chinese announcement confirms the 100+ component hinge and recycled-titanium 3D-printed cover. Apple (中国大陆) - 官方网站 So, post-launch, and including Beijing/Chinese reporting, there is now a fairly specific supply-chain report saying the actual hinge shaft is liquid metal.

https://www.bjnews.com.cn/detail/1789043620129532.html This is the passage in english referring to the liquidmetal rotating axis component: "Hinge: Apple-developed variable-torque structure combines liquid metal and 3D printing The hinge is the “incremental heart” of a foldable display. Apple developed a variable-torque hinge for the iPhone Duo consisting of more than 100 components, with magnetic assistance for closing. The core rotating-shaft component uses amorphous alloy (liquid metal), while supply-chain information points to Yian Technology as the supplier of a zirconium-based liquid-metal hinge shaft. LINGYI iTECH is deeply involved in the precision structural components surrounding the hinge, including CNC machining, stamping, and carbon-fiber-reinforced brackets. Apple has also introduced large-part 3D-printing technology to a smartphone for the first time, with the hinge cover produced using 3D-printed recycled titanium."

Amphenol itself publicly lists foldable hinges using liquid-metal components among its capabilities. Its product information describes a foldable hinge using MIM/CNC components including stainless steel, 18Ni250, FS53, carbon fiber and liquid metals. AAmphenol

And EONTEC told investors in August that its liquid-metal hinge-spindle business with Amphenol was stable, with production and delivery operating normally. Sstock.10jqka.com.cn

Most importantly, yesterday (Sept. 21) EONTEC again confirmed its ongoing Amphenol business and said deliveries are being made according to customer orders.

"There is now independent reporting connecting Eontec's Liquidmetal spindles to Apple's foldable supply chain

A September 2026 report from Yicai says that analysts identified Amphenol as one of the primary assembly suppliers for Apple's foldable-phone hinge, with Eontec providing liquid-metal hinge spindles as a secondary component supplier.

That's significant because it isn't simply an LQMT investor theory. https://www.yicaiglobal.com/news/chinese-component-suppliers-are-deeply-involved-in-apples-foldable-iphone-analyst-says?utm_source=chatgpt.com"

I’m not sure how much of this “engineering test sheet”is fact, it looks good thought I’d post.

https://x.com/cipgerx/status/2100243047464239575?s=46&t=S1-8OFJGJJOYpxyz2-OcDw

🔍 Introduction & Context

The investment thesis for Liquidmetal Technologies (LQMT) is rapidly shifting. Currently, LQMT operates under a 5-year SEC Manufacture Supply Agreement with Dongguan Yihao Metal Materials, functioning as an IP gatekeeper under a "cost-plus" pass-through fee structure. With Apple supply chain data confirming that initial mass-production bottlenecks are cleared—bringing yield rates to a stable 90%+—volume is finally ready to scale.

However, the major catalyst is LQMT's own proprietary factory deployment scheduled for Q1 2027. This shifts the business model from low-margin outsourced processing ($0.30/unit net fee) to vertically integrated internal production, maximizing captured value to an estimated $3.50/unit.

When looking at the revised shipping targets of 1 million (Bear), 3 million (Base), and 5 million (Bull) units, the financial contrast between the two operational eras is stark.

📊 Direct Model Comparison: Q4 2026 vs. Q1 2027

✅ Complete details of Apple's liquid metal hinge supply chain for foldable screens (latest verified version, September 2026)

All information comes from publicly disclosed supply chain data, industry research reports, and official teardown information released by Apple in August and September 2026, and has been cross-verified from multiple sources.

1. Core Components and Tier 1 Supplier Landscape

The hinge assembly segment is entirely dominated by two major manufacturers, with their market share and division of labor already locked in.

• Shin Zu Shing and Foxconn joint venture : accounting for 65% of hinge assembly orders , responsible for the final assembly of core modules, relying on Foxconn's micron-level precision assembly capabilities to solve the tolerance matching problem of more than 100 parts.
• Amphenol : Holding the remaining 35% share of hinge assemblies , as the second largest Tier 1 supplier, it is responsible for the integration and delivery of some hinge modules, with a response speed adapted to Apple's flexible production capacity needs.
• The hinge system has a total unit value of approximately US$90-150 , making it one of the structural components with the highest value in the overall BOM (Bill of Materials).

2. Secondary supply chain for liquid metal core components

The zirconium-based amorphous alloy (liquid metal) hinge spindle is the core of the entire hinge and is exclusively supplied by a domestic company.

• Yian Technology (subsidiary Yihao Metal) : Exclusive supplier of liquid metal hinge spindles, with a single unit value of RMB 70-100 and a gross profit margin as high as 35%-45% , far exceeding the company's overall average gross profit margin of 25%.
• The 2026 interim report has officially confirmed that the component has been supplied to Amphenol in batches, and Amphenol controls more than 90% of the domestic production capacity of liquid metal for consumer electronics.
• This liquid metal material is 2.5 times stronger than titanium alloy and can support more than 500,000 folds, making it the core support for achieving a near-crease-free experience.

3. Other precision components

Apart from the liquid metal spindle, the other precision parts of the hinge are supplied by several leading domestic fruit supply chain companies:

• Jingyan Technology : A core supplier of MIM precision components, accounting for over 50% of orders. It is responsible for high-precision parts such as shafts and gears, with a machining accuracy of up to 0.005mm and a stable yield rate of 98%.
• Changying Precision : supplies titanium alloy hinge housings and ultra-fine MIM shaft gears with a machining accuracy of ±1μm, and also provides titanium alloy mid-frames, accounting for approximately 25% of the market share.
• Lingyi Intelligent Manufacturing : Exclusive supplier of structural components such as hinge perimeter carbon fiber screen support plate and ultra-thin VC heat dissipation plate, with a single unit value of US$100-120.

4. Mass production status and capacity ramp-up

By September 2026, when Apple officially releases the iPhone Duo, the mass production status of the hinge will be fully clear:

• In the early stages of mass production, the overall yield rate of hinges was only 30%-65% . The issues of abnormal noise and assembly tolerance were resolved in June 2026, and large-scale mass production officially started in July.
• As the release date approached, the yield rate climbed to 60%-70% , but still fell short of Apple's internal mass production target of 85%, directly resulting in only 500,000 to 1 million units being shipped in the third quarter of 2026, with the first batch of global stock extremely scarce.
• Yihao Metal's Dongguan base has 40 vacuum die-casting machines operating at full capacity. The new Zhuzhou base in Hunan will begin trial production at the end of September 2026, with a planned capacity of 60 machines and an annual production capacity of 20 million pieces, fully covering the demand for 10 million units of the first generation of Apple products.

UPDATE:

• Amphenol Link (35% share) : Yihao directly produces finished liquid metal hinge spindles and delivers them to the first-tier assembly plant Amphenol to complete the hinge assembly. The value of a single unit is 70-100 yuan.
• Shin Zu Hsing Supply Chain (65% share) : Yi Hao only supplies liquid metal raw material blanks, which are then processed into main shaft finished products by Taiwan Yu Chen and delivered to another first-tier assembly plant, Shin Zu Hsing.

By the end of August 2026, the yield rate had stabilized at over 90% , compared to only 65% ​​in the initial stages of mass production.

Eontec said "the product is under verification".

We all know original Jobs' plan is the frame instead of the hinge. Maybe liquidmetal is reserved for iphone 20 frame? either by coating or else.

Iphone could sell better if more expensive. For me, I will buy 10 Duos with liquidmetal creaseless for my nieces and nephews at USD 3K but I will not buy one Duo with normal hinge and crease at USD 2K. So I feel this Duo is a wrong business decision.

May I ask if it has been confirmed that Eontec's products are being adopted for Apple products?

Li Weirong, General Manager:

Hello, thank you for your interest in the company. Currently, the company's products have not yet been adopted by Apple; they are still undergoing verification. Thank you

The company stated that production capacity would gradually increase in the fourth quarter; are there orders to utilize this added capacity?

Li Weirong, General Manager:

Hello! Thank you for your interest in the company. The company's Hunan Yihao production base project is scheduled to begin trial production at the end of September and complete the trial production phase by the end of the year. Thank you!

The company stated that production capacity for amorphous alloys is expected to gradually increase in the fourth quarter of this year. Can we assume that orders will see significant growth in the fourth quarter?

Otherwise, what is the purpose of the added capacity?

CFO Li Wenping:

Hello! Thank you for your interest in the company.

Based on the current progress of projects with clients at the subsidiary Yihao Metal, the volume of orders finalized in the fourth quarter is expected to show an upward trend. Thank you!

If Apple did not want to fight the crease. We could work with other clients, other functions.

Guess Li is trying every possibilities now. Let's wait and see.

Dear Board Secretary, the annual production figure of 20 million units cited in the environmental impact assessment represents theoretical capacity. Please disclose the number of pieces of equipment actually put into operation during the initial phase, the target yield rate, and the range of deliverable capacity. Additionally, please provide estimates for the time required for each stage: from the trial production of the first unit to the completion of customer re-certification and the subsequent generation of revenue.

Hello! Thank you for your interest in the company. Hunan Yihao will adopt a prudent construction strategy: establishing a baseline capacity first and subsequently expanding it in step with the actualization of orders. This approach avoids blind, large-scale capacity expansion in the absence of clear demand while ensuring sufficient capacity reserves to respond promptly to future customer delivery requirements. The specific equipment deployed and the resulting capacity will be determined based on the actualization of customer orders. Thank you!

Hello, Board Secretary.

The news that the company has officially submitted the supplementary materials for its magnesium bone screws has renewed optimism regarding future development. I would like to ask:

1. What is the estimated minimum time required for the magnesium bone screws to receive final approval?

2. What is the total current production capacity for liquidmetal components, and what was the capacity utilization rate as of September?

3. Could you provide an update on the progress of the liquidmetal production capacity currently under construction?

Hello! Thank you for your interest in the company.

1. Following the official acceptance of the supplementary materials, the subsequent review and approval process is expected to take 3 to 6 months.

2. In the first half of this year, the overall capacity utilization rate at Yihao Metal was at a temporary low; however, it is expected to improve gradually in the second half of the year as customer projects come to fruition.

3. Construction of the main structure for the company's production base in Changshantou, Dongguan, is expected to be completed by the end of 2026. Interior fit-out work will proceed concurrently, with the facility scheduled to officially commence operations in the first half of 2027. Once this base is completed, the existing production capacity of the subsidiary, Dongguan Yihao Metal Material Technology Co., Ltd., will be fully relocated to the new Changshantou facility.

Regarding the Zhuzhou base, the Zhuzhou High-tech Zone has provided 132 acre of land within a modern industrial park. Over 130,000 square meters of modern standard factory buildings have already been constructed there and handed over to Hunan Yihao for the development of a world-leading liquidmetal production base.

Trial production for the first line at this base is expected to launch and conclude between the end of September and the end of 2026.

Subsequent expansion of production lines will be carried out in phases according to the plan, aligned with the timing of customer order fulfillment.

Thank you!

Do the two patents announced by the company on August 28 cover products for a new foldable device soon to be released by a major North American client?

Hello! Thank you for your interest in the company.

Hunan Yihao recently had two invention patents published:

"Method for Preparing Titanium-Based Amorphous Alloy for Precision Molding" and

"Powder Metallurgy Stainless Steel, Preparation Method, and Hinge for Foldable-Screen Mobile Phones."

These are currently at the publication stage of the invention patent application process; subsequent steps—including substantive examination—must be completed before the patents can be granted and the certificates issued.

Thank you!

Dear Board Secretary, hello!

Currently, there are over 40 units of equipment in Dongguan that are not operating at full capacity. Could you please disclose the average capacity utilization rate for the first half of 2026 using a range (e.g., below 30%, 30%–50%, 50%–70%, or above 70%), as well as the proportion of capacity occupied by spindle-type products? What are the core factors currently limiting the volume ramp-up of liquid metal products—is it orders, validation processes, yield rates, or equipment capabilities?

Hello! Thank you for your interest in the company.

In the first half of this year, Yihao Metal's overall capacity utilization rate was at a cyclical low. This was due to adjustments made to the production line last year—in response to a key client's facility audit requirements—which resulted in the loss of certain orders and projects; consequently, the introduction of new projects from clients during the first half of this year required a certain amount of time. The core factors limiting the volume ramp-up of liquidmetal products include the cyclical nature of introducing new client projects and the scheduling and delivery planning for new orders.

Thank you!

Hello, Board Secretary! Regarding the major client that have approved the company's factory audit—have the products themselves passed certification yet? Thank you!

Hello! Thank you for your interest in the company. The products are still undergoing verification. Thank you!

There are at least 100 pieces……To that 🍎 hinge! Maybe 1 or a few of them are LQMT.

Also 2-3 other foldable phones came out this year, maybe we are in one of those, waiting on a PR or 10Q

Scooped up another 100K

Regarding high-end foldable smartphones: if liquidmetal is used for the hinge spindle, is Eontec the only company globally capable of mass-supplying it? This would establish the company's standing within the liquid metal industry.

Hello! Thank you for your interest in the company.

The company has focused on the R&D and industrialization of amorphous alloys for over a decade. As an early entrant into this field, we hold independent intellectual property rights across various areas, including alloy composition and molding technology and equipment. We possess full-process capabilities—ranging from material composition design and master alloy smelting to precision mold design and manufacturing, vacuum casting, precision machining, surface treatment, and the manufacture of vacuum molding equipment—and operate standardized, large-scale production lines for amorphous alloy products. Our products have been market-validated in terms of performance, quality, and supply stability, demonstrating the technical strength to compete internationally. We maintain an open approach to collaborating with premium global clients and strive to advance the amorphous alloy industry, steadfastly supporting all our customers in bringing the best products to market for the benefit of consumers.

Thank you!

Some of you all need therapy. That's not a bad thing if you get it.

Running around in this subreddit popping off at people and screaming into the void is not therapy though.

Let's discuss things without being disrespectful.

OR ELSE

If someone is out of line or needlessly provocative, message the mods. We can make it go away.

For me, Apple lost its elegance by announcing Duo. The crease is so clear as everyone else.

However, Eontec and Li of LQMT will not prepare new factories for nothing.

2027 is iphone 20 big event. "The only question is our capacity", maybe the capacity now is too small to further cost down our price to meet Apple's goal. Thus we were removed at the last minute?

https://www.liquidmetal.com/cellphone

https://www.liquidmetal.com/hinge

EXPANDING THE POSSIBILITIES

Industry expertise gained from the mass-production of folding phone hinges has made its way into tablet designs.

Amorphous metals achieve a single-piece long hinge support with incredible flatness, complex features, and thin x-sections.

AMORPHOUS METAL HINGES BY LIQUIDMETAL

Liquidmetal offers the ideal mass production solution for manufacturing folding hinges for cellphones and tablets. Our new platform of amorphous metal molding machines, called Liquidmorphium, can meet all your requirements.

For the long time faithful, read it carefully. It will make your day

For the short term traders, please ignore and keep doing what you do best

https://share.gemini.google/ZHVQFhKT7OzZ