Investment Rating - The report maintains an "Outperform" rating for the electronics industry [1][10]. Core Insights - The semiconductor sector is experiencing better-than-expected conditions, with price increases across multiple segments driven by rising AI demand. The industry is seeing a recovery in profitability as price hikes are being passed on to consumers [1]. - The CES 2026 event has showcased significant advancements in AR glasses, indicating a year of hardware innovation. Companies are encouraged to focus on AR glasses as they become independent smart devices with enhanced communication and computing capabilities [3]. - NVIDIA has introduced a new storage architecture that redefines the role of NAND Flash, significantly increasing its demand and value in AI applications. This shift is expected to benefit companies in the storage industry [4]. Summary by Sections Semiconductor Industry - The semiconductor industry is witnessing a supply-demand imbalance, particularly in storage and high-end PCB segments. Price increases are anticipated across various manufacturing stages, including wafer foundries and high-end packaging [1]. - The report highlights the potential for domestic semiconductor materials to replace imports, particularly in light of recent anti-dumping investigations against Japanese products [2]. AR Glasses and Consumer Electronics - CES 2026 has seen a variety of AR glasses, with advancements in full-color display technology enhancing user experience and application scenarios. Companies are advised to monitor developments in this area [3]. - The report emphasizes the importance of AR glasses as a platform for AI technology, suggesting a growing market for these devices [3]. Storage Industry - The introduction of NVIDIA's new storage processor platform is expected to revolutionize the role of NAND Flash, making it a critical component in AI processing. This change is likely to drive demand for storage-related companies [4]. - The storage industry is projected to benefit from ongoing AI demand, with a positive outlook for companies involved in NAND Flash production [4]. Key Companies and Recommendations - The report recommends several companies for investment, including: - Semiconductor: 中芯国际 (SMIC), 翱捷科技 (Aojie Technology), 德明利 (Demingli), 蓝思科技 (Lens Technology) [10]. - Storage: 德明利 (Demingli), 江波龙 (Jiangbolong), 佰维存储 (Baiwei Storage) [4][10]. - AR Glasses: 蓝特光学 (Lante Optics), 水晶光电 (Crystal Optoelectronics) [3].

对于小米汽车的谣言是一波接一波，甚至越来越离谱，越来越降智！ 比如前两天，有人造谣卢伟冰离职，还有人称小米高层大换血，雷军也要被替换…… $\begin{array}{c}\includegraphics[height=36.135pt]{28.eps}\end{array}$ \(\begin{array}{c}\includegraphics[height=36. 看了这些标题，恍惚感觉小米汽车这是要走上哪吒汽车老路了？ 甚至还有标题称，小米二手车开始"血崩"，标题都将雪崩写成血崩，不知道的还以为小米汽车患了妇科病，然后还称雷军坐不住了…… 而在社交媒体上，还有大量车商哭惨下跪等表演唱衰行情。 还有车商表示砸手里了，在地上撒泼打滚…… 而米黑们，也是抓住这些视频，当成攻击小米的素材，开始全网剪辑传播。 而真实情况到底是什么样的呢？我们看一下下图：小米SU7的一年保值率达88.91%，在一众新势力中排行第一。 | 排名 | 品牌 | 车系 | 年保值率 | | --- | --- | --- | --- | | 1 | והו | 小米SU7 | 88.91% | | 2 | | 问界M9 | 84.45% ...

前十大沽空比率排行 安踏体育-R(82020)、联想集团-R(80992)、快手-WR(81024)上一交易日沽空比率位于前三位，分别为 100.00%、78.04%、71.83%。阿里巴巴-W(09988)、腾讯控股(00700)、小米集团-W(01810)的沽空金额位 居前三，分别为29.68 亿元、17.00 亿元、15.88 亿元。中国建材(03323)、江苏宁沪高速公路(00177)、中 国联塑(02128)的偏离值位居前三，分别为33.68%、31.58%、22.77%。 | 股票名称 | 沽空金额 | 沽空比率↓ | 偏离值 | | --- | --- | --- | --- | | 安踏体育-R(82020) | 70.25 万元 | 100.00% | 17.72% | | 联想集团-R(80992) | 282.04 万元 | 78.04% | 1.94% | | 快手-WR(81024) | 101.95 万元 | 71.83% | 9.65% | | 商汤-WR(80020) | 171.38 万元 | 69.28% | 15.22% | | 九龙仓集团(00004) | 2408.9 ...

智通财经APP获悉，根据2026年1月13日披露数据，中国电信（00728）、绿色动力环保（01330）、凯 盛新能（01108）位居港股通持股比例前3位，分别为71.39%、69.71%、68.10%。此外，腾讯控股 （00700）、小米集团－Ｗ（01810）、建设银行（00939）在最近有统计数据的5个交易日内，持股额增 幅最大，分别为+43.02亿元、+35.64亿元、+16.88亿元;盈富基金（02800）、阿里巴巴－W（09988）、 恆生中国企业（02828）在最近有统计数据的5个交易日内，持股额减幅最大，分别为-48.57亿 元、-23.14亿元、-20.98亿元。 具体数据如下（交易所数据根据T+2日结算）： 1、港股通最新持股比例排行（前20名） | 公司名称 | 持股数量 | 最新持股比例 | | --- | --- | --- | | 中国电信(00728) | 99.09亿股 | 71.39% | | 绿色动力环保(01330) | 2.82亿股 | 69.71% | | 凯盛新能(01108) | 1.70亿股 | 68.10% | | 天津创业环保股份(01065) | 2.29亿 ...

（文章来源：每日经济新闻） 小米创办人、董事长兼CEO雷军1月14日在微博发文表示，小米汽车车主课堂今年计划开课600多场，覆盖全国50多个城市，全程免费。 ...

今年注定国产AI年,因为很多大神回国了。 刚刚浏览数据的时候发现小米的Mimo 悄无声息的冲了出来。才知道罗福莉已经在工程上又攻下一城！ 说一下这个效率飙升的Mimo-V2，12.17 小米正式发布并开源新模型 MiMo-V2-Flash。MiMo-V2-Flash 总参数 3090 亿，活跃参数 150 亿，采用专家混合架构 (MoE)，性能还能和 DeepSeek-V3.2硬刚！ Claude Sonnet 4.5 | | | DeepSeek-V3 | Gemini 3.0 Pro (Preview 11-2025) | | | | --- | --- | --- | | =) → (= | | | | 计费模式 | 输入 | 输出 | | 长文 | $4.0000 | $18.0000 | | >200k | | | | 批量 | $1.0000 | $6.0000 | | 标准 | $2.0000 | $12.0000 | MiMo-V2-Flash 采用 MIT 开源协议，基础版权重也已经在 Hugging Face 上发布。除去「开源」这一标签，新模型真正的杀手锏在于架构设 计上的激进创新，把推 ...

Group 1 - Tencent Holdings (00700), Xiaomi Group-W (01810), and Kuaishou-W (01024) ranked the top three in net inflow of southbound funds, with net inflows of 1.412 billion, 0.870 billion, and 0.775 billion respectively [1] - Alibaba-W (09988), Laopuhuang (06181), and Meituan-W (03690) ranked the top three in net outflow of southbound funds, with net outflows of -2.615 billion, -0.468 billion, and -0.367 billion respectively [1] - In terms of net inflow ratio, Changjiang Infrastructure Group (01038), CLP Holdings (00006), and Hong Kong and China Gas (01083) led the market with ratios of 65.87%, 58.38%, and 56.59% respectively [1] Group 2 - The top ten stocks by net inflow included Tencent Holdings (00700) with 1.412 billion and a net inflow ratio of 12.94%, and Kuaishou-W (01024) with 0.775 billion and a net inflow ratio of 26.20% [2] - The top ten stocks by net outflow included Alibaba-W (09988) with -2.615 billion and a net outflow ratio of -15.38%, and Laopuhuang (06181) with -0.468 billion and a net outflow ratio of -29.76% [2] - The top three stocks by net inflow ratio were Changjiang Infrastructure Group (01038) at 65.87%, CLP Holdings (00006) at 58.38%, and Hong Kong and China Gas (01083) at 56.59% [3]

Core Viewpoint - The Hang Seng Index (HSI) experienced a slight decline, closing at 26,787.80, down 0.23% from the previous close, indicating a mixed performance in the Hong Kong stock market [1]. Group 1: Market Performance - The Hang Seng Index closed at 26,787.80, down 60.67 points or 0.23% [1]. - The index reached a high of 26,950.81 and a low of 26,739.26 during the trading session, with a trading volume of 52.77 million shares [1]. - The average price for the session was 26,845.04, with a 52-week high of 27,275.90 and a low of 19,335.70 [1]. Group 2: Major Blue-Chip Stocks - HSBC Holdings closed at HKD 127.188, up 0.62% compared to the previous close [2]. - Tencent Holdings closed at HKD 624.864, down 0.42% from the previous close [2]. - Alibaba Group saw a price increase of 3.63%, closing at HKD 159.900 [3]. - Other notable performances include AIA Group up 0.84% at HKD 84.400 and China Construction Bank up 1.17% at HKD 7.810 [3].

中国已成为全球智能手表市场最重要的增长引擎，全球前五大品牌中有三家来自中国。中国市场在华 为、小米和小天才等本土品牌加速普及下，市场占有率由2024年的25%提升至2025年预估的31%，持续 占据全球最大出货份额。华为2025年出货量同比暴涨42%，市场份额从13%跃至18%，稳居全球第二 位。小米以22%的同比增速，将市场份额从8%提升到9%，反超三星跻身全球第三位。小天才聚焦儿童 市场，以丰富的产品与品牌社交势能稳居中国儿童手表出货榜首，并向东南亚、欧洲拓展。分析师认 为，华为、小米和小天才等中国品牌凭借差异化的产品布局与生态策略推动了市场增长。 有机构预计，2025年至2030年间，HLOS（主机操作系统）智能手表的出货量将以7%的复合年增长率增 长。2025年，HLOS智能手表出货量同比增长14%，其中苹果和华为表现突出，而三星的出货量同比下 降5%。儿童智能手表出货量同比增长4%，其中小天才保持领先地位。随着中国品牌的发展势头增强， 预计中国在智能手表市场中仍将保持领先地位。 （文章来源：经济日报） 2024年，全球智能手表市场首次出现下滑，这主要是由于苹果公司的业绩下滑以及消费者对基础款智能 手 ...

小米集团-W回购明细 | 日期 | 回购股数（万股） | 回购最高价（港元） | 回购最低价（港元） | 回购金额（万港元） | | --- | --- | --- | --- | --- | | 2026.01.13 | 400.00 | 38.040 | 37.940 | 15200.88 | | 2026.01.09 | 400.00 | 37.920 | 37.740 | 15132.64 | | 2026.01.08 | 500.00 | 38.160 | 38.040 | 19057.99 | | 2026.01.07 | 390.00 | 38.200 | 38.120 | 14883.60 | | 2026.01.06 | 385.00 | 38.900 | 38.860 | 14967.00 | | 2026.01.05 | 380.00 | 39.320 | 39.220 | 14929.13 | （文章来源：证券时报网） 证券时报·数据宝统计，小米集团-W在港交所公告显示，1月13日以每股37.940港元至38.040港元的价格 回购400.00万股，回购金额达1.52亿港元。该股当日收 ...