MMU校长拿督Mazliham、马来西亚公共事务部代表Yusri Bin Razalli出席结业典礼并发言，对中兴通讯长期以来在智慧政府和组织人才建设中的贡献表示感 谢，对中兴通讯AiCube平台助力MMU大学数智化教学升级、强化人才培养的重要意义表示肯定，并期待未来与中兴通讯开展更深层次的合作。 中兴通讯努力践行《中华人民共和国和马来西亚关于构建高水平战略性中马命运共同体的联合声明》最新文件精神，积极探讨与马来在科技创新、人才培养 等领域的交流合作。 近日，马来西亚政府"Shaping the future-fit public services with Cybersecurity in AI Landscape"暨"马来西亚政府官员来华培训项目二期"结业典礼在马来西亚多 媒体大学（MMU）隆重举行。中兴通讯高级副总裁顾军营专程出席典礼并致辞。 顾军营称，2025年是中马关系新"黄金50年"的启程之年，中兴通讯将继续支持马来西亚数智人才培养与智慧政府建设，并强调将以AI战略合作协议为新起 点，携手政产学研伙伴构建创新生态，为马来西亚及相关地区发展注入持久动能。期间，中兴通讯与MMU签署《AI合作伙伴协议》 ...

然而，产品发布后随即遭遇多个软件平台的使用限制，首批用户反馈在作微信时触发登录环境异常导致 封号;多家银行App及阿里系应用识别出非人工作风险，拒绝执行支付、验证码等敏感指令或直接提 示"设备异常"。面对广泛的业内抵制和使用限制，豆包团队被迫于12月3日及5日紧急下线微信及金融类 应用的作能力，并对游戏代玩、点击激励广告等使用场景对使用AI助手进行了限制。 中银国际发布研报称，明年将是AI手机助手开始广泛发展的一年，未来几个季度市场也将陆续发布带 有AI手机助手功能的产品。该行认为豆包手机助手的发布将显著强化手机厂商的FOMO心态，从而带来 对端侧AI相关的功能性硬件的提前投入和升级，如SoC、存储、续航、散热和传感器等。 中银国际指，邀请手机智能助手的业内资深专家参与了讨论，并一致认为手机AI助手正在逐步走向应 用的拐点，基本的底层技术栈的设计已经比较成熟，而目前所面对的主要困境更多来自互联网服务商、 手机硬件厂商以及监管之间不同利益所带来的摩擦。 报道称，12月1日，字节跳动联合中兴手机发布搭载豆包手机助手预览版的工程样机，其核心卖点在于 通过语音指令实现跨应用的自动化AI Agent作能力。豆包手机广告 ...

Core Insights - ByteDance's AI model Doubao has launched the "Doubao Phone Assistant" technical preview, integrated into the Nubia M153 smartphone, which sold out within a day at a price of 3499 yuan, with resale prices on second-hand platforms reaching up to 9999 yuan, indicating a premium of over 6500 yuan [2] - The Doubao Phone Assistant represents a significant technological breakthrough by embedding AI capabilities directly into the operating system, allowing for cross-app automation tasks through natural language commands, thus transforming the role of AI from a supportive tool to an active agent [2] Group 1: Product Launch and Market Response - The Nubia M153, featuring the Doubao Phone Assistant, sold out rapidly, showcasing strong market demand and consumer interest in innovative AI applications in smartphones [2] - Resale prices on platforms like Xianyu indicate a high perceived value and demand for the device, with some listings reaching up to 9999 yuan, reflecting a significant markup [2] Group 2: Industry Trends and Innovations - The smartphone industry has not seen disruptive innovation for a long time, and the development of AI smartphones is seen as an irreversible trend, with a focus on open collaboration to enhance user experience [3][5] - The high-end smartphone market in China, defined as devices priced over 4000 yuan, has seen its market share increase to over 27% in 2023, up by 3.7 percentage points from 2022, indicating a growing consumer demand for premium devices [7] Group 3: Future Market Projections - The Chinese smartphone market is expected to experience a new wave of upgrades driven by economic recovery and the rise of AI and foldable smartphones, with projections estimating the market size to reach 15,367 billion yuan by 2029, reflecting a compound annual growth rate of approximately 9.2% [8]

Summary of Conference Call Notes Industry Overview - The conference call discusses the **domestic AI computing power industry** and the anticipated growth driven by the large-scale release of domestic chips, recovery in bidding, and the potential approval of the **H200 chip** [1][3][5]. Key Points and Arguments H200 Chip Approval - The approval of the H200 chip is expected to significantly benefit the **computing end** and **AIDC (AI Data Center)** sectors directly, while indirectly benefiting the **network end** and **domestic chip** sectors [1][5]. - If the H200 chip is approved for sale in China, it will greatly enhance the development of the domestic AI and computing power industry chain [3][7]. Market Demand and Growth - The demand for AIDC is projected to reach at least **6-7 GW** in the coming year, with a potential shortage of quality data center resources [5]. - The AIDC sector has seen a decline in stock prices since Q2 but is expected to recover due to increased demand for AIGC (AI Generated Content) in Q3 and Q4 [1][5]. Key Players and Beneficiaries - Major beneficiaries of the H200 chip approval include: - **Computing End**: Companies like **Inspur**, **Unisoc**, and **ZTE** are expected to benefit from increased demand for AI servers and power supplies [5][8]. - **AIDC Sector**: Companies such as **Huaneng New Network**, **Aofei Data**, and **David Technology** are highlighted as potential beneficiaries due to the anticipated recovery in demand [5]. - **Network Side**: Companies like **Ruijie Networks** and **ZTE** are noted for their significant market share and advancements in high-speed switching chips [6][10]. Technological Trends - The conference emphasizes the importance of **Scale-up technology** in driving demand for ultra-high-speed switching chips, particularly the **51.6T switching chip** [6][11]. - The shift towards **liquid cooling** technology is also highlighted, with companies like **Inveke** positioned to benefit from this trend [5][9]. Policy and Market Dynamics - The development of domestic chips is supported by strong government policies, which are expected to accelerate the growth of the domestic AI ecosystem [7]. - The approval of the H200 series is seen as a catalyst for upgrading domestic large models and narrowing the gap with international competitors [7]. Additional Important Insights - The conference notes that the **ITC sector** will benefit from the resolution of supply shortages in computing cards, leading to an acceleration in IDC bidding [9]. - The **light module and related components market** is expected to flourish as supply issues are resolved, with key players like **Hua Gong Technology** and **Xin Yi Sheng** poised to gain from increased domestic demand [12]. This summary encapsulates the critical insights from the conference call, focusing on the anticipated growth in the domestic AI computing power industry, the implications of the H200 chip approval, and the key players and technologies involved.

Group 1 - BlackRock's long position in China People's Insurance Company - H shares decreased from 6.0% to 5.89% on December 4, 2025 [1] - BlackRock's long position in Kingsoft Corporation increased from 4.89% to 5.05% on December 4, 2025 [1] - BlackRock's holding in ZTE Corporation H shares rose from 6.79% to 7.18% on December 4, 2025 [1]

Core Viewpoint - The article discusses the recent developments and strategic direction of Nubia Technology in the AI smartphone sector, emphasizing the importance of innovation and user experience in the industry [1] Group 1: Company Strategy - Nubia's president, Ni Fei, highlighted the lack of disruptive innovation in the smartphone industry and stated that the trend towards AI smartphones is irreversible [1] - The collaboration with Doubao Mobile Assistant is likened to partnerships seen with iPhone+ChatGPT and Samsung+Gemini, aiming to enhance user experience [1] - Nubia has been focusing on AI since 2017, adhering to the "AI for All" philosophy, which aims to make AI accessible to everyone rather than a select few [1] Group 2: Product Development - The journey of Nubia's AI development includes the launch of the first AI smartphone, Z17, and the multi-model collaboration concept set for 2025 [1] - The recent M153 model, developed in partnership with Doubao, represents Nubia's ongoing commitment to proactive innovation [1] Group 3: User Engagement - Nubia is actively engaging with partners to address user feedback and is committed to ongoing discussions with the public regarding future developments [1] - The company expresses gratitude towards users for their support and emphasizes its focus on technological innovations that enhance user experience [1]

Core Insights - The AI mobile phone concept is gaining traction, with companies like Shenghong Technology and Furong Technology seeing significant stock price increases following the announcement of the open-sourcing of the AutoGLM AI model by Zhiyu Technology [1][2] Industry Developments - Zhiyu Technology has open-sourced its AutoGLM model, which is recognized as the world's first AI agent capable of mobile operations, enabling complex tasks like food ordering and flight booking [1][2] - The open-sourcing of AutoGLM is expected to lower the technical barriers for AI mobile phones, transitioning the ecosystem from a closed to an open collaborative model [1][2] - The project supports both local and cloud deployment, ensuring users maintain control over their data and privacy [1][2] Market Trends - The AI mobile phone sector is witnessing significant interest from major players, with the recent collaboration between Douyin's AI assistant "Doubao" and ZTE marking a substantial step in the integration of AI models with mobile hardware [2][3] - AI mobile phones are moving from concept to real-world applications, capable of automating tasks in various scenarios such as food delivery and customer service [2][3] Future Outlook - Citic Securities predicts that AI mobile phones will be a major transformation in the industry, with expectations for the launch of AI phones equipped with advanced capabilities by the end of 2025 [3] - The Chinese government's policies are increasingly supportive of AI mobile technology, aiming to foster a comprehensive ecosystem for smart products [3][4] - Experts believe that the continuous breakthroughs in core technologies will unlock significant market potential, driving the evolution of consumer electronics from tools to intelligent partners [4]

Core Viewpoint - BlackRock's long position in ZTE Corporation's H-shares increased from 6.79% to 7.18% as of December 4, 2025 [1] Group 1 - BlackRock's holding in ZTE Corporation reflects a growing confidence in the company's performance [1] - The increase in holdings indicates potential positive sentiment towards ZTE's future prospects [1]

格隆汇12月9日｜香港交易所信息显示，贝莱德在中兴通讯H股的持股比例于12月04日从6.79%升至 7.18%。 ...

Core Viewpoint - The collaboration between Doubao and ZTE to launch an AI phone assistant signifies the beginning of a transformative era driven by AI, addressing real user demands [1] Group 1: AI Transformation - The essence of the AI assistant is that the device owner authorizes the assistant to perform operations, which falls within the legal and compliant use of data [1] - The technology that allows for automatic ride-hailing, previously seen only in films, is now technically feasible [1] Group 2: User Authorization and Privacy - With the owner's authorization, the phone assistant can execute tasks by accessing various applications and data, including location, ride-hailing software, navigation, traffic information, and payment [1] - The process is fundamentally about the "owner" authorizing the "assistant" to perform actions, which does not relate to invasion, hacking, or privacy violations [1] - As long as user consent is obtained, there is no infringement on privacy [1]