Group 1 - The core viewpoint of the news is that the company is accelerating the commercialization of AR technology through the acquisition of Finnish waveguide company Dispelix, enhancing its capabilities in AI and perception technology [1][2] - The acquisition of Dispelix is expected to be completed in the first half of 2026, making it a wholly-owned subsidiary, and aims to deepen the synergy between the two companies, leveraging Dispelix's expertise in waveguide design and manufacturing [2] - The collaboration with leading OEM clients to develop the next generation of AR devices and the partnership with major mobile ecosystem builders will strengthen the company's position in the global market for diffraction optics [2] Group 2 - The company is empowering the "Doubao AI phone" with core hardware, facilitating the evolution from a "tool" to an "intelligent agent," showcasing advancements in AI interaction [3] - The collaboration with ZTE to launch the Doubao AI phone prototype demonstrates the integration of high-performance linear motors and dual speaker systems to enhance user experience [3] - The company is also focusing on multi-sensory solutions for next-generation AI phones and wearable devices, continuing to innovate in the "AI + perception" space [3] Group 3 - The Quark AI glasses S1, launched by Alibaba, features a high-precision pickup system co-created with the company, addressing industry pain points in voice interaction [4] - The innovative microphone array and bone conduction technology provide significant advantages in size reduction and power consumption, enhancing the user experience in various environments [4] - The advanced algorithms implemented in the Quark AI glasses ensure low false wake rates, allowing for seamless interaction in noisy settings [4] Group 4 - The company is projected to achieve revenues of 32.2 billion, 36 billion, and 40 billion yuan for the years 2025, 2026, and 2027, respectively, with net profits of 2.5 billion, 3 billion, and 3.3 billion yuan [5]

三、创新型端侧 AI 设备 2025年12月，中兴与字节跳动旗下豆包合作推出了AI智能手机原型机努比亚M153。用户可通过语音或 侧边按键唤醒AI助手，完成订餐、回复消息等各类任务，这使得声学器件在AI智能手机中的重要性显 著提升。作为全球声学领域的领军者，瑞声科技可提供X轴线性马达、双扬声器等解决方案，优化用户 通过语音指令与AI助手交互时的使用体验。此外，AI智能手机具备更强的算力，进而推动了散热需求 的增长，这也将利好瑞声科技的均热板（VC）业务。 二、搭载AI助手功能的AI/AR眼镜 语音指令在AI/AR眼镜中同样占据重要地位。例如，阿里全新推出的AI眼镜夸克S1便采用了多麦克风方 案，以实现不同场景下的语音指令交互。对于AI/AR 眼镜而言，小型化/超薄化/轻量化设计及低功耗特 性尤为关键，这两大因素直接影响设备的佩戴舒适度与续航能力，而这两点又决定了用户的日均使用时 长。瑞声科技作为全球声学龙头，能够在不牺牲语音性能的前提下，实现器件的小型/超薄/轻量化设计 与低功耗运行。除声学器件外，高盛认为未来几年 AR 眼镜中摄像头数量的增加以及光学合束器（如光 波导）的应用，将为瑞声科技带来新的增长机遇。 ...

Group 1: Hong Kong Stocks - LeMo Technology (02539) surged nearly 17%, reaching a new high of 67.8 HKD, over 60% increase from the IPO price of 40 HKD [1] - Baixin An-B (02185) rose over 4% after announcing that its subsidiary completed the registration of the Iberis multi-polar renal artery radiofrequency ablation catheter system in New Zealand, the only product approved for both radial and femoral artery access for renal denervation [1] - Health Road (02587) increased over 2% as it announced plans to repurchase up to 100 million HKD of its shares in the open market, reflecting confidence in its business outlook [1] - Deutsche Bank Tianxia (02418) fell over 8% following a report that revealed 10 shareholders collectively held 98.9% of the company's issued H-shares, leaving only 1.1% for other investors [1] Group 2: Other Notable Stocks - Kailaiying (06821) rose nearly 2% as its Shanghai Fengxian commercial production base officially commenced operations, marking a significant upgrade in its biopharmaceutical CDMO capabilities [2] - Tianyu Semiconductor (02658) rebounded over 12% on its second day of trading, although still down 20% from its IPO price of 58 HKD [2] - Lithium stocks saw gains, with Ganfeng Lithium (01772) up 4.65%, Hongqiao Group (08137) up 2.15%, Tianqi Lithium (09696) up 3.29%, and CATL (03750) up 1.51% [2] - AAC Technologies (02018) rose nearly 2% after Alibaba launched its first self-developed flagship AI glasses, the Quark AI Glasses S1 [2] - Zhou Hei Ya (01458) increased over 5% as it announced the opening of its first overseas brand store in Malaysia on December 5, 2025 [2] Group 3: US Market Highlights - US mining stocks generally rose, with Albemarle (ALB.US) up 5.08% and MP Materials (MP.US) up 0.47%, amid reports of the US government planning to increase its stake in key mineral companies [5] - Paramount Skydance (PSKY.US) fell 9.82% after proposing a buyout of Warner Bros Discovery (WBD.US) at $30 per share, while Netflix (NFLX.US) offered $27.75 per share [5] - Intel (INTC.US) rose 2.25% after announcing it would retain its network and edge computing business, enhancing integration in AI and data center solutions [5] - Netflix (NFLX.US) dropped 2.89% while Warner Bros Discovery (WBD.US) rose 6.28% following Netflix's announcement of a $27.75 per share acquisition offer for Warner Bros [6] - Baidu (BIDU.US) increased by 5% as reports emerged that Kunlun Core is preparing for an IPO in Hong Kong, targeting early 2026 for its application [6]

Core Viewpoint - AAC Technologies (瑞声科技) shares rose nearly 3%, currently trading at HKD 38.28 with a transaction volume of HKD 71.1751 million, following the launch of Alibaba's first self-developed flagship dual-display AI glasses, Quark AI Glasses S1, which emphasizes a super AI assistant experience [1] Group 1: Product Development and Collaboration - Alibaba's Quark AI Glasses S1 features a high-precision audio pickup system developed in collaboration with AAC, consisting of 5 high-performance microphones and 1 bone conduction microphone [1] - The AI phone, Doubao, utilizes AAC's high-performance X-axis linear motor and dual speaker system to enhance immersive voice and tactile interaction experiences [1] - AAC has previously collaborated with multiple overseas large model and smart terminal companies to explore innovative paths for "AI + terminal" applications [1] Group 2: Business Expansion - In addition to its traditional strengths in acoustic and haptic devices, AAC is expanding its business boundaries by providing optical waveguides, high-end cooling systems, and other perception solutions for AI phones, XR wearable devices, and new forms of smart hardware [1]

Core Viewpoint - AAC Technologies (瑞声科技) shares rose nearly 3%, currently up 2.08% at HKD 38.28, with a trading volume of HKD 71.175 million, following the launch of Alibaba's first self-developed flagship dual-display AI glasses, Quark AI Glasses S1, which emphasizes a super AI assistant experience [1] Group 1: Product Development - Alibaba's Quark AI Glasses S1 features a high-precision audio pickup system developed in collaboration with AAC, consisting of 5 high-performance microphones and 1 bone conduction microphone [1] - The AI phone, Doubao, utilizes AAC's self-developed high-performance X-axis linear motor and dual speaker system to enhance immersive voice and tactile interaction experiences [1] Group 2: Strategic Collaborations - AAC has reportedly collaborated deeply with several overseas large model and smart terminal companies to explore innovative paths for "AI + terminal" applications [1] - In addition to its traditional strengths in acoustic and haptic devices, AAC is expanding its business boundaries by providing optical waveguides, high-end cooling systems, and other perception solutions and core products for AI phones, XR wearable devices, and new forms of smart hardware [1]

消息面上，据瑞声科技官微消息，近日，阿里巴巴正式推出其首款自研旗舰双显AI眼镜——夸克AI眼 镜S1，主打超级AI助理体验。夸克团队与AAC瑞声科技(以下简称为AAC)深度共创关键的拾音技术：5 颗高性能麦克风(MIC)+ 1颗骨传导麦克风(VPU)，组成5麦克风阵列+骨传导的创新高精度拾音系统。据 悉，为提升语音交互和触感交互的沉浸感体验与精准度，豆包AI手机采用瑞声科技自研的高性能X轴线 性马达及双扬声器系统，为其提供核心感知能力支撑。 值得一提的是，据行业消息人士透露，瑞声科技此前已与海外多家大模型及智能终端企业深度协作，共 同探索"AI + 终端"的创新落地路径。除传统优势的声学、触觉器件外，公司还向AI手机、XR可穿戴设 备及全新形态智能硬件，输出光波导、高端散热系统等感知方案与核心产品，持续拓宽业务边界。 智通财经APP获悉，瑞声科技(02018)涨近3%，截至发稿，涨2.08%，报38.28港元，成交额7117.51万港 元。 ...

智通财经APP获悉，俊知集团(01300)、方正控股(00418)、摩比发展(00947)、VITASOY INT'L(00345)、 信利国际(00732)、绿城服务(02869)、万咖壹联(01762)、明源云(00909)、酷派集团(02369)、中远海控 (01919)、同道猎聘(06100)、中国石油化工股份(00386)、腾讯控股(00700)、碧桂园服务(06098)、天福 (06868)、津上机床中国(01651)、燕之屋(01497)、蒙牛乳业(02319)、威高股份(01066)、康臣药业 (01681)、首佳科技(00103)、医渡科技(02158)、名创优品(09896)、固生堂(02273)、瑞声科技(02018)、金 山软件(03888)、畅捷通(01588)、美高梅中国(02282)、天安卓健(00383)、中国飞鹤(06186)、百融云- W(06608)、叮当健康(09886)、玄武云(02392)、德康农牧(02419)、快手-W(01024)、中集集团(02039)、 多点(N22134)、昊海生物科技(06826)、北森控股(09669)、粉笔(02469)、中国旭阳集 ...

自12月3日以来公司已连续3日进行回购，合计回购45.00万股，累计回购金额1741.23万港元。 其间该股 累计下跌2.48%。 | 2025.04.16 | 90.00 | 33.500 | 32.000 | 2930.95 | | --- | --- | --- | --- | --- | | 2025.04.15 | 25.00 | 34.750 | 34.450 | 864.31 | | 2025.04.09 | 215.40 | 33.400 | 31.100 | 6950.51 | | 2025.04.08 | 260.00 | 34.900 | 32.200 | 8771.44 | | 2025.04.07 | 121.00 | 35.900 | 28.500 | 4017.96 | | 2025.04.03 | 74.20 | 44.850 | 39.550 | 3076.98 | | 2025.04.02 | 5.55 | 48.000 | 45.850 | 258.17 | | 2025.04.01 | 11.25 | 47.250 | 45.650 | 519.48 | | 2025. ...

格隆汇12月5日丨瑞声科技(02018.HK)公告，12月5日耗资579万港元回购15万股，每股购回价38.28- 39.22港元。 本文源自：格隆汇 ...

瑞声科技(02018)公布，2025年12月5日耗资约578.97万港元回购15万股股份。 ...