蜂助手 20260127 摘要 宏观经济下行，传统投资渠道收益率降低，股市中高分红、高成长、估 值合理的公司成为价值洼地，为资本市场提供了慢牛机遇，风助手公司 受益于此。 风助手公司在 AI 应用一体化方面具备软硬件一体化、跨行业服务一体化 和端云一体化的优势，通过物联网网络基础设施建设和多年研发积累， 为用户提供"开口即所得"的智能服务体验。 2025 年，风助手公司整体经营情况良好，各业务板块收入均实现稳健 快速增长，为 2026 年进行更多研发及新产品推出奠定了基础，具体业 绩数据将在业绩预告中详细披露。 风助手公司的 AI 应用一体化产品主要面向家庭场景，结合数字商品、物 联网和云终端能力，推出融合网关产品，提供无线上网、视频、音频等 多种服务，采用会员制服务模式。 风助手通过与全屋定制公司如好莱客合作，以整装方式进入家庭市场， 打破传统硬件销售模式，通过一个入口叠加更多服务，形成完整生态系 统，未来计划与其他全屋定制公司合作扩大市场覆盖。 Q&A 中国资本市场当前的机遇和科技产业变革对企业发展的影响是什么？ 风助手整合各大厂商的 AI 模型，进行个性化设计，增强融合网关的互动 和管控能力，通过云终端 ...

证券之星消息，1月27日通信服务板块较上一交易日下跌0.54%，二六三领跌。当日上证指数报收于 4139.9，上涨0.18%。深证成指报收于14329.91，上涨0.09%。通信服务板块个股涨跌见下表： 从资金流向上来看，当日通信服务板块主力资金净流入1.15亿元，游资资金净流入1.14亿元，散户资金净 流出2.29亿元。通信服务板块个股资金流向见下表： | 代码 | 名称 | 主力净流入(元) | 主力净占比 游资净流入 (元) | | 游资净占比 散户净流入 (元) | | 散户净占比 | | --- | --- | --- | --- | --- | --- | --- | --- | | 002115 | 三维通信 | 7.04亿 | 39.33% | -3.48 Z | -19.45% | -3.56 Z | -19.88% | | 300738 奥飞数据 | | 2.61亿 | 8.55% | -3279.51万 | -1.07% | -2.28 Z | -7.48% | | 301428 世纪恒通 | | 5724.05万 | 7.43% | 835.59万 | 4 1.08% | -6559. ...

本报讯(记者李昱丞)近日，蜂助手（301382）股份有限公司(以下简称"蜂助手")在深交所互动易平台上 表示，2026年，公司在AI应用方面的布局已全面展开，且在部分业务领域实现了重要进展。 在AI云手机方面，基于成熟的云终端技术，公司已完成豆包等模型与云端OS平台的适配与融合测试， 逐步构建起能够服务多种云端生态的AI云手机能力，从而提升其市场竞争力和应用多样化，商业化进 程将依据客户实际需求稳步推进。 同时，蜂助手正积极规划生活服务智能体，涵盖音视频内容、点餐、快递等服务，并在大模型领域致力 于AI能力平台的研发，通过基于Qwen基座模型的全参微调，构建了精准意图识别模型，已训练50多个 意图分类，并整合了ASR、TTS、声纹识别等能力，覆盖生活类以及智能家居控制等垂直类意图，后续 还将根据应用场景的扩展，不断丰富意图种类，以支持更高准确性场景的应用需求。 此外，蜂助手明确将商业航天作为未来第四条业务增长曲线进行布局。公司的规划是创新采用空中基站 与卫星、地面通信网络直接连接的模式，构建客舱与地面互联互通的网络能力，联合运营商、航司及其 他合作伙伴，并围绕此场景开发客舱娱乐、商务办公及"云+AI"应用等服 ...

证券之星消息，1月23日通信服务板块较上一交易日上涨0.33%，三维通信领涨。当日上证指数报收于 4136.16，上涨0.33%。深证成指报收于14439.66，上涨0.79%。通信服务板块个股涨跌见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | --- | --- | --- | --- | --- | --- | | 002115 | 三维通信 | 15.39 | 7.85% | 280.39万 | 42.56亿 | | 301382 | 蜂助手 | 41.87 | 7.39% | 35.79万 | 14.97亿 | | 002544 | 普天科技 | 34.38 | 6.74% | 46.25万 | 15.75 Z | | 300310 | 官通世纪 | 7.06 | 5.22% | 1 90.36万 | 6.31亿 | | 300292 | 吴通控股 | 4.72 | 2.83% | 49.93万 | 2.34亿 | | 920924 | 广脉科技 | 23.94 | 2.79% | 2.28万 | 5468.92万 | | 000889 | 中嘉博创 ...

据天眼查APP显示，蜂助手股份有限公司成立于2012年01月13日，注册资本28559.3903万人民币。（数 据宝） （文章来源：证券时报网） 数据宝统计，截至11:07，蜂助手成交额15.21亿元，创2025年3月21日以来新高。最新股价上涨6.54%， 换手率19.90%。上一交易日该股全天成交额为15.01亿元。 ...

Group 1: Industry Overview - The light industry and beauty sector is expected to stabilize and improve due to the dual drivers of domestic demand policies and steady export growth [3] - The "14th Five-Year Plan" marks a year of enhanced domestic demand policies, coupled with consumers' increasing pursuit of high-quality living, creating significant growth opportunities for the industry [3] - The penetration rate of cross-border e-commerce has ample room for improvement, and the recovery of international relations and demand from emerging markets will further drive market expansion [3] Group 2: Beauty Sector - The cosmetics market is projected to grow steadily, with the skincare segment being the largest, reaching a market size of 4,619 billion yuan in 2024, and expected to grow at a CAGR of 8.6% from 2024 to 2029 [19] - The high-end cosmetics market is rapidly expanding, with the market size for high-end skincare products increasing from 749 billion yuan in 2019 to 1,144 billion yuan in 2024, reflecting a CAGR of 8.84% [19] - Key companies in the beauty sector include: - **Mao Geping**: Revenue reached 25.88 billion yuan in H1 2025, with a growth rate of 31.28% [23] - **Lin Qingxuan**: Revenue grew to 10.52 billion yuan in H1 2025, marking a 98.28% increase [27] - **Marubi**: Revenue is expected to reach 29.70 billion yuan in 2024, recovering from previous declines [32] Group 3: Medical Aesthetics - The medical aesthetics sector is facing short-term pressure due to cautious consumer spending, but the long-term growth potential remains strong, with a projected CAGR of 10%-15% from 2024 to 2027 [36] - The market penetration rate for medical aesthetics in China is currently at 4-5%, indicating a growth potential of 2-5 times compared to countries like the US and South Korea [36] - Key companies in the medical aesthetics sector include: - **Jinbo Biological**: Achieved revenue of 12.96 billion yuan in Q1-Q3 2025, with a year-on-year growth of 31.10% [45] Group 4: Daily Chemicals - The daily chemical industry is benefiting from domestic demand policies, with local brands poised to capture market share [49] - Companies such as **Dengkang Oral Care** and **Runben** are highlighted for their strong market positions and growth potential [51][55] - **Shanghai Jahwa** has shown significant growth, with revenue reaching 49.61 billion yuan in Q1-Q3 2025, reflecting a 10.83% increase [59] Group 5: Home Furnishing - The home furnishing sector is under pressure due to weak real estate sales, with a 15% decline in residential investment in 2025 [65] - National subsidies for home appliances and furnishings have provided some support, but the long-term effects are limited [65] - Leading companies such as **Oppein Home** and **Kuka Home** are noted for their strong channel capabilities and multi-category layouts [65]

Important Matters - Chengjian Development has achieved a three-day stock increase and holds 18.91 million shares of Century Space, making it the fourth largest shareholder [1] - Lens Technology is a strategic investor in Strong Brain Technology and has exclusively undertaken the mass production of core hardware [1] - Shiyun Circuit is collaborating with brain-machine clients to advance the development of new material numbers [1] - Xinyada has indirectly held shares in Zhongke Aerospace through Xi'an Qingchuan [1] - Chipone Technology has completed the acquisition of Zhudian Semiconductor [1] - Suoling Co., Ltd. has seen a three-day stock increase, with its controlling shareholder's concerted action partner, Tanghe Holdings, successfully bidding for 37.5 million shares of the company [1] - iFlytek's robot super brain platform has achieved multiple technological breakthroughs in multi-modal noise reduction and has formed extensive collaborations with Yushu and Zhiyuan [1] Investment Operations - ZTE Corporation has conducted NTN technology trials and achieved breakthroughs, providing comprehensive satellite payload products [1] - Chaojie Co., Ltd. expects rapid growth in revenue from commercial aerospace-related businesses by 2026 [1] - Xinyi Chang plans to launch its second-generation wheeled robot before the 2026 Spring Festival, with three robot products expected to enter mass production in the second half of 2026 [1] - Zhejiang Xiantong is collaborating with Haohai Starry Sky and Qiteng Robotics, with robots expected to roll off the production line by the end of March [1] - Fengzhushou is placing significant emphasis on opportunities in commercial aerospace and aviation internet development, clearly positioning it as a fourth growth curve [1] - Chaoying Electronics has adjusted the investment amount for its AI computing high-end printed circuit board expansion project from 1.468 billion to 3.315 billion yuan [1] Contracts and Collaborations - Guoji Jinggong is focusing on new business areas, particularly in commercial aerospace bearings and humanoid robot bearings [1] - iFlytek's robot super brain platform has achieved multiple technological breakthroughs and has formed extensive collaborations with Yushu and Zhiyuan [1] - Desay SV Automotive has established strategic partnerships with several well-known robotics companies [1] - Tuobang Co., Ltd. has deepened cooperation with UBTECH in related business areas [1] - Fushite has signed a strategic cooperation agreement with Jiangxi Copper [1] - Robotech's subsidiary ficonTEC has signed a full automatic OCS packaging line order with a Swiss client [1] - Times New Materials has signed a sales contract for wind turbine blades worth approximately 3.32 billion yuan [1]

Core Viewpoint - The company emphasizes the development opportunities in commercial aerospace and aviation internet, positioning it as a future growth avenue [1] Group 1: Business Strategy - The company plans to innovate by adopting a model that connects airborne base stations with satellites and ground communication networks, aiming to create interconnected network capabilities between cabins and the ground [1] - The company intends to collaborate with operators, airlines, and other partners to develop services such as cabin entertainment, business office solutions, and "cloud + AI" applications [1] Group 2: Competitive Advantages - The company's extensive experience in digital product operations, full-stack cloud terminal technology, and a wide range of ecosystem partners provide a unique advantage for entering the market [1] - This advantage ensures the company can efficiently integrate content, networks, and computing power to deliver stable and reliable digital solutions and cloud services for aviation scenarios [1] Group 3: Current Status and Future Outlook - The relevant business is still in the expansion phase and has not yet generated significant revenue, which is expected to have a minor impact on the company's performance in the short term [1]

Core Viewpoint - The company, Bee Assistant, is actively expanding its presence in the commercial aerospace sector by implementing innovative technologies for in-flight connectivity and enhancing passenger experience through digital services [1] Group 1: Company Initiatives - Bee Assistant's aerospace strategy includes two main aspects: the introduction of airborne 4G/5G base stations for in-cabin communication and the development of products and services aimed at improving the digital experience in aircraft cabins [1] - The company is focusing on creating a comprehensive ecosystem for in-flight internet services, particularly in the context of cabin entertainment and business applications [1] Group 2: Collaboration - Bee Assistant has signed a memorandum of cooperation with Starlink Interconnect, aiming to integrate its technological expertise with Starlink's satellite communication resources to enhance in-flight internet services [1] - The partnership will leverage Bee Assistant's operational strengths to improve the conversion efficiency of in-flight internet services, ultimately driving user engagement and revenue growth for both companies [1] Group 3: Background Information - Starlink Interconnect, established on November 3, 2020, is a professional aviation internet technology service company funded by the China Aerospace Science and Technology Group and is controlled by China Satcom [2]

格隆汇1月5日丨蜂助手(301382.SZ)公布，截至2026年1月5日，公司以集中竞价交易方式累计回购股份 数量为887,000股，占公司总股本（未扣除公司回购专用证券账户中的股份）285,593,903的0.31%，最高 成交价为41.90元/股，最低成交价为29.86元/股，交易总金额为30,850,838.3元（不含交易费用）。公司 本次回购股份金额已达到回购方案中的回购资金总额下限，且不超过回购方案中的回购资金总额的上 限。本次回购方案已完成。 ...