Macroeconomic Insights - The US unemployment rate fell to 4.4% in December, down from a revised 4.5% in November, indicating a temporary halt in concerns over job market deterioration[11] - The US manufacturing PMI declined while the services PMI increased, reflecting mixed economic signals[7] - Consumer confidence in the US continued to recover in January, with inflation expectations slightly rising[7] Market Trends - Risk assets generally rose in the week of January 2-9, 2026, with major economies' stock markets and commodity prices increasing[7] - The 10-year US Treasury yield rose by 5.7%, while domestic 10Y government bond futures prices fell by 0.1%[7] - The dollar index increased by 0.7%, with the USD/CNY exchange rate at 6.98, indicating a slight appreciation of the yuan[7] Sector Performance - The AI application sector is expected to see significant growth, with a projected compound annual growth rate (CAGR) of over 35% for the AI industry and over 63% for the large model market[23] - The consumer electronics sector, particularly smart glasses, is experiencing rapid growth, with a projected 110% year-on-year increase in global shipments in the first half of 2025[38] Investment Recommendations - It is advised to overweight A/H shares due to multiple factors supporting Chinese equity performance, including an expected expansion of the fiscal deficit and a more aggressive economic policy[18] - Gold is recommended for overweight allocation due to its strong resilience and safe-haven attributes amid rising geopolitical uncertainties[20] - The report suggests a cautious approach to oil investments, recommending a lower allocation due to expected price pressures from geopolitical events and US policy directions[20]

Group 1 - The company announced a partnership with Australian retail giant Woolworths to sign a letter of intent for the sale of AI-driven smart shopping carts and camera integration solutions [1] - The initial phase will involve delivering approximately 10,800 smart shopping cart systems to around 300 Woolworths stores, marking the company's entry into bulk shipments for its smart shopping cart business [1] Group 2 - Woolworths, established in 1924, is among the top 30 global retailers with over 1,800 multi-format stores, focusing on food retail, daily necessities, and other retail services [2] - The collaboration is expected to enhance the digital infrastructure of stores, driving joint innovation and large-scale implementation of AI-driven solutions, thereby improving store efficiency and customer experience [2] - The company has a strong foundation in retail digitalization, particularly in electronic price tags, and aims to leverage its long-term technological accumulation in the IoT sector to expand retail digital solutions [2] - The ongoing global trend towards retail digitalization, driven by downstream demand, is anticipated to provide the company with sustained growth opportunities through an enriched product portfolio [2]

Investment Rating - The investment rating for the company is "Buy" and it has been maintained [4] Core Insights - The company has signed a sales intention agreement with Woolworths, a major Australian food retailer, to deliver AI-driven smart shopping carts and camera integration solutions, marking a significant step towards mass production [1][2] - The collaboration with Woolworths is expected to enhance store efficiency and customer experience through deep cooperation in digital infrastructure [2] - The company has a strong focus on retail digitalization, particularly in the electronic price tag sector, and is well-positioned to expand its digital solutions in retail [2] Financial Projections - Revenue projections for the company are as follows: 2025 at 4.056 billion, 2026 at 4.787 billion, and 2027 at 5.747 billion, indicating a growth rate of 18.0% and 20.0% for the respective years [3] - The net profit for 2025 is projected to be 489 million, with a significant increase to 706 million in 2026 and 837 million in 2027 [3] - The earnings per share (EPS) is expected to be 1.16 in 2025, increasing to 1.67 in 2026 and 1.98 in 2027 [3] Key Financial Metrics - The company’s revenue growth rate is projected to be 31.9% in 2023, 18.8% in 2024, with a decline of 9.6% in 2025, followed by a recovery in 2026 and 2027 [8] - The return on equity (ROE) is expected to be 40.9% in 2023, decreasing to 30.1% in 2024, and stabilizing around 19.2% by 2027 [8] - The price-to-earnings (P/E) ratio is projected to decrease from 34.3 in 2023 to 27.8 by 2027, indicating a potential increase in valuation attractiveness over time [3][8]

Group 1 - Han Shuo Technology's stock increased by 5.62%, reaching 61.85 yuan per share, with a trading volume of 312 million yuan and a turnover rate of 15.92%, resulting in a total market capitalization of 26.125 billion yuan [1] - The company, established on September 14, 2012, is located in Jiaxing, Zhejiang Province, and focuses on IoT wireless communication technology, primarily in the retail store digitalization sector, offering electronic price tag systems and SaaS cloud platform services [1] - The main revenue composition of Han Shuo Technology includes 91.01% from electronic price tag terminals, 4.69% from accessories and other smart hardware, and 4.30% from software, SaaS, installation, and other services [1] Group 2 - Among the top ten circulating shareholders of Han Shuo Technology, a fund under China Post Fund, specifically the China Post Strategic Emerging Industries Mixed A (590008), increased its holdings by 100,000 shares to a total of 300,000 shares, representing 0.89% of the circulating shares [2] - The fund has achieved a year-to-date return of 3.55%, ranking 4230 out of 9012 in its category, and a one-year return of 34.75%, ranking 3730 out of 8157 [2] - The fund manager, Wu Shang, has been in position for 7 years and 300 days, with the fund's total asset size at 968 million yuan and a best return of 59.61% during his tenure [3]

每经AI快讯，据汉朔科技公众号1月12日消息，在近日举办的NRF 2026全球零售盛会上，汉朔科技与微 软基于双方既有战略合作框架，进一步推进并展示双方战略合作的持续深化，共同致力于探索并构建下 一代数字孪生门店的未来框架，助力全球零售商构建数据驱动、全景可视且更具韧性的新一代门店运营 范式。 （文章来源：每日经济新闻） ...

Market Performance - The other electronic sector increased by 0.57% on January 9, with Hao Li Technology 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] Top Gainers - Hao Li Technology (002729) closed at 17.94, up 9.99% with a trading volume of 133,000 shares and a turnover of 234 million yuan [1] - Han Shuo Technology (301275) closed at 58.56, up 7.94% with a trading volume of 68,800 shares and a turnover of 394 million yuan [1] - Xu Guang Electronics (600353) closed at 18.62, up 5.08% with a trading volume of 746,000 shares and a turnover of 1.354 billion yuan [1] Other Notable Stocks - Runxin Technology (300493) closed at 21.96, up 4.82% with a trading volume of 481,500 shares and a turnover of 1.039 billion yuan [1] - Wei Feng Electronics (301328) closed at 50.16, up 3.81% with a trading volume of 34,500 shares and a turnover of 171 million yuan [1] Market Capital Flow - The other electronic sector experienced a net outflow of 200 million yuan from institutional investors and 150 million yuan from retail investors, while retail investors had a net inflow of 350 million yuan [2] - The detailed capital flow for individual stocks shows varying levels of net inflow and outflow among different companies [3] Individual Stock Capital Flow - Xu Guang Electronics had a net inflow of 149 million yuan from institutional investors, while it faced a net outflow of 53.176 million yuan from retail investors [3] - Hao Li Technology saw a net inflow of 81.847 million yuan from institutional investors, but a net outflow of 39.637 million yuan from retail investors [3]

Core Viewpoint - Hanshu Technology's stock has shown a modest increase in price and trading activity, reflecting investor interest despite a decline in revenue and profit for the year [1][2]. Group 1: Stock Performance - On January 9, Hanshu Technology's stock rose by 2.01%, reaching 55.34 CNY per share, with a trading volume of 59.83 million CNY and a turnover rate of 3.25%, resulting in a total market capitalization of 23.376 billion CNY [1]. - Year-to-date, the stock price has increased by 3.59%, with a similar increase over the past five trading days, while showing a slight rise of 1.32% over the last 20 days and 3.56% over the last 60 days [1]. Group 2: Financial Performance - For the period from January to September 2025, Hanshu Technology reported a revenue of 2.809 billion CNY, representing a year-on-year decrease of 11.04%, and a net profit attributable to shareholders of 314 million CNY, down 40.51% year-on-year [2]. - Cumulative cash dividends paid by Hanshu Technology since its A-share listing amount to 64.2048 million CNY [3]. Group 3: Shareholder Information - As of September 30, 2025, the number of shareholders for Hanshu Technology was 15,700, a decrease of 18.81% from the previous period, while the average number of tradable shares per shareholder increased by 31.04% to 2,152 shares [2]. - The largest circulating shareholder is the FuGuo Innovation Trend Stock A, holding 728,900 shares, which is an increase of 397 shares compared to the previous period [3].

证券日报网讯1月6日，汉朔科技（301275）发布公告称，截至2025年12月31日，公司通过回购专用证券 账户以集中竞价交易方式累计回购公司股份1，200，000股，占公司总股本的0.2841%，最高成交价为 54.60元/股，最低成交价为52.00元/股，成交总金额为6，394.95万元(不含交易费用)。本次回购符合公司 回购股份方案及相关法律法规的要求。 ...

格隆汇1月6日丨汉朔科技(301275.SZ)公布，截至2025年12月31日，公司通过回购专用证券账户以集中 竞价交易方式累计回购公司股份1,200,000股，占公司总股本的0.2841%，最高成交价为54.60元/股，最 低成交价为52.00元/股，成交总金额为6,394.95万元（不含交易费用）。本次回购符合公司回购股份方 案及相关法律法规的要求。 ...

Core Insights - HanShuo Technology Co., Ltd. is deepening its collaboration with Australia's Woolworths in the smart retail sector, focusing on AI-driven smart shopping carts and camera integration solutions [2][3] - The partnership aims to create a closed-loop system centered around real store scenarios, enhancing operational efficiency and customer experience through data and algorithm integration [2][3] - The initial deployment will cover approximately 300 stores, with a long-term goal of expanding to all Woolworths locations, providing a continuous revenue stream for HanShuo [2][3] Company Development - HanShuo has transitioned from a provider of IoT smart solutions based on electronic price tags to a platform company driven by AI and big data for retail [3][6] - The strategic partnership with Woolworths marks a significant milestone in HanShuo's industrial upgrade, showcasing its ability to respond to international clients' needs and convert technological innovations into commercial revenue [3][6] - The company is also investing in Xi'an Super Hi Network Technology Co., Ltd. to enhance its product and technical capabilities in the AI-driven smart shopping cart sector [6] Market Trends - The demand for smart shopping carts reflects an upgrade in store digitalization, driven by consumer preferences for immersive, efficient, and contactless shopping experiences [4][5] - The global smart shopping cart market is projected to grow to $9.77 billion by 2030 and $14.68 billion by 2032, indicating a strong market potential [4] Future Strategy - HanShuo aims to solidify its leading position in electronic price tags while enhancing its advantages in full-scene retail digital solutions [7] - The company plans to leverage multi-modal AI, big data, and wireless communication technologies to provide an evolving smart retail operational platform [7] - HanShuo is transitioning from a digital solution provider to a data value foundation platform that drives intelligent upgrades in the global retail industry [7]