Core Viewpoint - The multi-modal AI concept has seen a significant increase of 8.25%, ranking as the 7th highest in terms of growth among concept sectors, with notable stocks experiencing substantial gains [1][2]. Group 1: Stock Performance - A total of 138 stocks within the multi-modal AI sector rose, with companies like Zhongcheng Technology and Tianrun Technology hitting a 30% limit up, while Fushi Holdings, Tuolisi, and Meiri Interactive reached 20% limit up [1]. - Stocks with notable gains include: - Yangshan Technology up 10.05% - Sichuan Changhong up 9.96% - Tuolisi up 20.02% [3][4]. - The stocks with the largest declines include ST Zhizhi down 3.04%, *ST Shengxun down 1.25%, and Honghe Technology down 0.59% [1]. Group 2: Capital Inflow - The multi-modal AI sector attracted a net inflow of 11.976 billion yuan, with 90 stocks receiving net inflows, and 35 stocks exceeding 100 million yuan in net inflow [2]. - The top stocks by net inflow include: - Yangshan Technology with 1.485 billion yuan - Sichuan Changhong with 1.139 billion yuan - Tuolisi with 781 million yuan [2][3]. - The highest net inflow ratios were seen in companies like Yili Media at 70.24%, Liou Co. at 65.15%, and Vision China at 48.00% [3].

| 概念 | 今日涨跌幅（%） | 概念 | 今日涨跌幅（%） | | --- | --- | --- | --- | | Sora概念(文生视频) | 10.43 | 租售同权 | -0.08 | | MLOps概念 | 9.88 | 动物疫苗 | -0.04 | | AI语料 | 9.18 | 草甘膦 | -0.02 | | 智谱AI | 9.00 | 大豆 | 0.06 | | 小红书概念 | 8.79 | 磷化工 | 0.09 | | 快手概念 | 8.65 | PVDF概念 | 0.11 | | 多模态AI | 8.25 | 禽流感 | 0.21 | | ChatGPT概念 | 7.96 | 特色小镇 | 0.23 | | AIGC概念 | 7.93 | 仿制药一致性评价 | 0.32 | | 华为昇腾 | 7.82 | 猪肉 | 0.37 | 截至1月12日收盘，AI语料概念上涨9.18%，位居概念板块涨幅第3，板块内，48股上涨，福石控股、拓 尔思、每日互动等20%涨停，居然智家、岩山科技、人民网等涨停，新开普、新致软件、华策影视等涨 幅居前，分别上涨17.65%、15.09%、14.35%。 ...

Group 1 - The ChatGPT concept stock increased by 7.96%, ranking 8th among concept sectors, with 135 stocks rising, including notable gainers like Fushi Holdings and Tuorisi, which hit the 20% limit up [1] - The top gainers in the ChatGPT sector included Dingjie Zhizhi, Xinzhiyuan Software, and Hongbo Medicine, with increases of 16.78%, 15.09%, and 14.69% respectively [1] - The sector saw a net inflow of 10.553 billion yuan, with 91 stocks receiving net inflows, and 30 stocks exceeding 100 million yuan in net inflow, led by Sichuan Changhong with 1.139 billion yuan [2][3] Group 2 - The top stocks by net inflow ratio included Liou Co., Tongda Hai, and Sichuan Changhong, with net inflow ratios of 65.15%, 35.85%, and 28.48% respectively [3] - The ChatGPT concept stocks with significant trading volumes included Sichuan Changhong, Tuorisi, and Keda Xunfei, with trading volumes of 1.138 billion yuan, 781.24 million yuan, and 760.76 million yuan respectively [3][4] - Other notable stocks in the ChatGPT sector included Youyou Network and Zhongwen Online, which also experienced significant price increases of 10.03% and 20.00% respectively [4][5]

Core Viewpoint - The black home appliance sector experienced a significant increase of 5.52% on January 12, with Sichuan Changhong leading the gains, reflecting positive market sentiment in this industry [1]. Group 1: Market Performance - The Shanghai Composite Index closed at 4165.29, up by 1.09%, while the Shenzhen Component Index closed at 14366.91, up by 1.75% [1]. - Key stocks in the black home appliance sector showed notable price increases, with Sichuan Changhong rising by 9.96% to a closing price of 10.38 [1]. Group 2: Stock Performance Details - Sichuan Changhong (600839) led the sector with a trading volume of 4.0153 million shares and a transaction value of 399.8 million yuan [1]. - Other notable performers included Zhaochi Co. (002429) with a 7.23% increase, closing at 8.31, and Hisense Visual (600060) with a 4.32% increase, closing at 25.35 [1]. Group 3: Capital Flow Analysis - The black home appliance sector saw a net inflow of 882 million yuan from institutional investors, while retail investors experienced a net outflow of 298 million yuan [1]. - The capital flow data indicates that Sichuan Changhong had a net inflow of 1.06 billion yuan from institutional investors, representing 26.51% of its total trading volume [2].

Core Viewpoint - The global consumer electronics industry is at a crossroads in 2026, driven by technological innovation, consumer upgrades, and cultural influences, with Chinese companies leading this transformation [2][3]. Group 1: Industry Transformation - AI technology is transitioning from conceptual to practical applications, with Chinese enterprises, particularly Changhong, showcasing their capabilities at CES 2026 [3][5]. - The CES 2026 event highlighted the shift in global AI competition from mere model parameters to the ability to implement AI in real-world scenarios, with Chinese companies establishing differentiated competitive barriers through comprehensive AI strategies [6][8]. Group 2: Product Innovation - Changhong's AI-enabled products, such as the AI television and AI air conditioner, demonstrate advanced capabilities like deep learning and personalized user interaction, enhancing the overall user experience [8][16]. - The introduction of the AI Air Manager 360° air conditioner marks a significant advancement in indoor climate management, focusing on air quality and energy efficiency, achieving up to 42% energy savings [16]. Group 3: Cultural Integration - Changhong's approach of integrating technology with cultural elements aims to redefine consumer electronics' value, moving beyond mere functionality to enhance emotional and experiential aspects of user interaction [12][18]. - The company's innovative products, such as the panda-themed AI appliances, reflect a blend of technology and cultural identity, appealing to a global audience [8][11]. Group 4: Global Market Strategy - Changhong has established a comprehensive system for global operations, including R&D, product development, and localized market strategies, resulting in steady revenue growth in overseas markets [9][11]. - The company's sponsorship of international sports events aims to enhance brand visibility and market expansion, further solidifying its global presence [11][12]. Group 5: Future Outlook - The ongoing trend of AI integration and cultural empowerment positions Chinese companies as rule-makers and trendsetters in the global consumer electronics industry, emphasizing user-centered innovation [18][19]. - The upcoming international exhibitions are expected to further amplify the influence of Chinese enterprises in defining the future of consumer electronics, promoting a cycle of "China-defined, globally shared" innovations [18].

Market Overview - The black home appliance sector increased by 1.82% on January 9, with Tongzhou Electronics leading the gains [1] - The Shanghai Composite Index closed at 4120.43, up 0.92%, while the Shenzhen Component Index closed at 14120.15, up 1.15% [1] Stock Performance - Key stocks in the black home appliance sector showed varied performance, with Tongzhou Electronics closing at 13.56, up 5.53% on a trading volume of 527,100 shares and a transaction value of 713 million [1] - Other notable performers included *ST Gauss, which rose by 5.01% to 10.27, and Jiulian Technology, which increased by 3.42% to 10.59 [1] Capital Flow - The black home appliance sector saw a net inflow of 81.44 million in main funds, while retail funds experienced a net outflow of 104 million [1] - Retail investors contributed a net inflow of 22.16 million, indicating a mixed sentiment among different investor types [1] Detailed Capital Flow Analysis - Non-Chi Holdings had a main fund net inflow of 10.9 million, but retail funds saw a significant outflow of 78.86 million [2] - Tongzhou Electronics experienced a main fund net inflow of 19.50 million, while retail funds had a net outflow of 1.20 million [2] - Hisense Visual had a main fund net inflow of 14.99 million, with retail funds showing a net inflow of 0.43 million [2]

Group 1: Core Themes of CES 2026 - The main theme of CES 2026 is "human-centered" AI applications, marking a shift from traditional consumer electronics to AI-centric technological transformations [1] - Chinese companies are increasingly taking center stage at CES, with 942 exhibitors, accounting for approximately 22% of the total, maintaining their position as the second-largest exhibiting nation [1] - In specific sectors, Chinese firms dominate, with 55% of humanoid robot exhibitors and nearly 70% of AI glasses brands coming from China [1] Group 2: Robotics and AI Innovations - Chinese manufacturers are expected to continue leading in cost reduction and efficiency improvements in humanoid robots, showcasing their capabilities in unstructured environments [2] - Notable products include the Unitree H1 humanoid robot with advanced sensing capabilities and the latest generation of the "绝影" series robotic dogs, which excel in indoor navigation [4][11] - The "Care-bot" humanoid robot by Fourier demonstrates embodied intelligence in real-life interaction scenarios [7] Group 3: Consumer Electronics and Smart Devices - Over 80% of global smart glasses supply chain manufacturers are from China, with 16 Chinese companies showcasing their products at CES [15] - Innovations in smart home devices include the AI-driven "安安" companion robot designed for elderly and cognitively impaired individuals [16] - Companies like Alibaba and XREAL are launching advanced AI glasses, with features such as ultra-lightweight designs and integration with various AI services [19][20] Group 4: Automotive and AI Integration - The automotive industry is transitioning from "software-defined" to "AI-defined" vehicles, with companies like Geely and Great Wall showcasing new technologies [28] - Geely's G-ASD smart driving solution and Great Wall's focus on new energy technologies highlight the industry's shift towards AI integration [30][32] - New products like the AI-driven logistics solutions from New Stone and advanced lidar technology from Hesai demonstrate the growing importance of AI in transportation [34][35] Group 5: Home Appliances and AI - Hisense introduced new RGB-Mini LED display technology and AI-controlled smart refrigerators, showcasing the integration of AI in home appliances [41] - TCL's innovations in display technology, including the world's first printed OLED car screen, reflect advancements in consumer electronics [43][44] - Companies are increasingly focusing on AI capabilities in home security and smart home management systems [51][49] Group 6: Overall Impact of AI - CES 2026 emphasizes the profound impact of AI on the consumer electronics industry, with expectations for AI user numbers to grow significantly [59] - The event serves as a platform for global tech companies to set the foundation for future technological development and transformation [59] - The integration of AI into various sectors, including robotics, automotive, and consumer electronics, indicates a trend towards deeper AI adoption in everyday life [59]

Core Viewpoint - The "Changhong Dual-Cross Platform" has significantly improved its ranking in the 2025 cross-industry industrial internet platform evaluation, marking a historical high for Sichuan Province in this field, and solidifying Mianyang's leading position in the province's industrial internet landscape [1][2]. Group 1: Platform Development and Achievements - The platform has risen 17 positions since being selected as a national-level "dual-cross" platform in 2023, achieving a total increase of 6 positions recently, ranking third nationally and first in the western region [1]. - The platform is built on over 60 years of manufacturing experience, emphasizing its unique advantage in empowering industries through a deep understanding of manufacturing [1]. - It has established a service matrix that integrates "intelligent, green, and integrated" services, driving deep transformation in the manufacturing sector [1]. Group 2: Technological Integration and Industry Impact - The platform utilizes a data-driven approach to connect devices, systems, and enterprises, creating a collaborative system across the entire value chain, which enhances production efficiency and resource allocation [2][9]. - It has developed an intelligent empowerment system that spans eight major industries and nine fields, serving over 3,000 enterprises to facilitate their digital transformation and improve efficiency [9]. Group 3: Value Service System and Solutions - The platform adopts a "1+4+N" architecture, focusing on five major value service systems to address core pain points for enterprises, providing clear transformation blueprints and reducing decision-making risks [10]. - It aims to lower the barriers for small and medium-sized enterprises to start their digital transformation through lightweight and modular solutions [10]. - The platform emphasizes the activation of data potential across eight value links, facilitating a dynamic data exchange system that enhances production efficiency by 10% and inventory turnover by 30% for upstream enterprises [12]. Group 4: Future Directions and Strategic Goals - The "Changhong Dual-Cross Platform" plans to evolve into an ecological organizer, focusing on upgrading from "scale" to "value" and serving as the core engine for Changhong Group's digital transformation [17]. - The platform aims to transform validated best practices into replicable solutions, ultimately becoming a digital model that empowers various industries rooted in Chinese manufacturing [17].

Group 1 - The black home appliance sector increased by 0.2% on January 8, with Sichuan Jiuzhou leading the gains [1] - The Shanghai Composite Index closed at 4082.98, down 0.07%, while the Shenzhen Component Index closed at 13959.48, down 0.51% [1] - Sichuan Jiuzhou's stock price rose by 3.44% to 17.76, with a trading volume of 473,900 shares [1] Group 2 - The net inflow of main funds in the black home appliance sector was 15.51 million yuan, while retail funds experienced a net outflow of 8.75 million yuan [1] - Sichuan Changhong had a main fund net inflow of 64.97 million yuan, but retail funds saw a net outflow of 30.34 million yuan [2] - The stock of *ST Gauss experienced a significant net outflow of 15.39 million yuan from main funds, while retail funds had a net inflow of 1.94 million yuan [2]

Core Insights - Changhong and Qualcomm jointly launched the AI TV Q10Light at CES 2026, focusing on edge AI applications for a new smart experience that ensures rapid response, offline usability, and privacy protection [1][2] Group 1: Product Features - The AI TV Q10Light eliminates reliance on cloud services, addressing user pain points related to network limitations while ensuring data privacy through local processing [1] - It features an edge AI subtitle translation model that provides real-time translation and subtitle synchronization for various content types, including foreign speeches and international sports events, without needing a network connection [1] - The product also includes a video recognition model that allows users to identify key elements like people and products in real-time, facilitating instant shopping and knowledge queries while optimizing image quality [2] Group 2: Industry Impact - The collaboration between Changhong and Qualcomm is expected to reshape the competitive landscape of the smart TV industry by combining hardware manufacturing strengths with AI technology [2] - The maturity of edge AI technology is anticipated to push the smart home ecosystem into a new phase characterized by "local intelligence + scenario closure," enhancing consumer experience [2]