据悉，折叠屏iPhone Fold原型机内屏尺寸7.74英寸、外屏 5.49英寸，测试版电池容量达5400-5800mAh， 超iPhone 17 Pro Max水平。 11月25日，据环球网报道，富邦研究近日发布行业报告，2026年全球智能手机市场或将持续萎缩，但苹 果公司首款折叠屏iPhone的亮相有望成为市场亮点，其预计售价为2399美元，生命周期销量预计达1540 万部。 苹果公司首款折叠屏iPhone因面板、铰链及轻量化材料等核心组件成本较高，定价被推向市场预测区间 高端。富邦研究结合供应链分析与苹果利润结构，给出2399美元的预测售价。 这也是首次有机构给出明确定价。此前，天风国际证券分析师郭明錤曾预测该机型售价在2000美元至 2500美元之间，知名科技记者马克·古尔曼则预计售价约2000美元。 此外，据环球时报转引MacRumors报道，苹果公司在折叠屏手机研发领域取得关键进展，其首款折叠屏 手机iPhone Fold成功攻克行业核心痛点，实现无折痕设计，有望成为全球首款真正意义上的无折痕折叠 手机。 据供应链透露，苹果此次在折叠屏技术上的突破，核心在于屏幕与铰链系统的创新整合。这款iPhon ...

Group 1 - A new stringent regulation for power banks will eliminate nearly 70% of existing production capacity, as the old 3C certification will become invalid. The new standards are expected to be published in December 2025 and implemented by June 2026 [5][6] - NIO aims for profitability in Q4 2025, with a target of 50,000 monthly sales in the first half of 2026 and plans to launch three large new models [8][9] - Baidu has established two new AI model research departments, indicating a focus on enhancing its capabilities in artificial intelligence [9][10] Group 2 - Li Xiang, founder of Li Auto, announced that the company will not produce smartphones but will release smart glasses as part of its ecosystem [15] - Zhihu reported a net loss of 46.7 million RMB in Q3 2025, with a significant decline in revenue across various segments [17] - Alibaba's Q2 FY2026 revenue reached 247.8 billion RMB, driven by a 34% increase in AI-related product revenue, indicating strong demand in the AI sector [12] Group 3 - Trump signed an executive order to launch the AI "Genesis Plan," aimed at transforming scientific research through AI [35] - Apple confirmed layoffs in its sales department and significantly reduced production of the iPhone Air due to lower-than-expected sales [36] - Amazon announced a plan to invest up to $50 billion in expanding AI and supercomputing capabilities for its cloud services [37]

11月25日，据环球网报道，富邦研究近日发布行业报告，2026年全球智能手机市场或将持续萎缩，但苹 果公司首款折叠屏iPhone的亮相有望成为市场亮点，其预计售价为2399美元，生命周期销量预计达1540 万部。 据悉，折叠屏iPhone Fold原型机内屏尺寸7.74英寸、外屏 5.49英寸，测试版电池容量达5400-5800mAh， 超iPhone 17 Pro Max水平。 此前，有消息称，苹果iPhone Fold "无折痕"屏幕被曝已正式定型，供应链合作伙伴富士康已搭建专属生 产线。 铰链方面，苹果与合作伙伴成功掌握了液态金属打造高强度铰链组件的核心技术。液态金属材料具备低 变形、高韧性的优良特质，不仅能大幅提升折叠屏手机的折叠耐久度，延长产品使用寿命，还能保持机 身握持时的细腻手感，兼顾实用性与体验感。 10月13日，天风国际证券分析师郭明錤发文称，苹果可折叠iPhone铰链的大规模量产成本预计为70至80 美元，远低于此前市场普遍预期的每台100至120美元。 上述富邦研究的分析报告还指出，2026年全球智能手机出货量预计降至12亿台，同比缩减4%；中国市 场出货量约为2.75亿台，同比下降3% ...

Market Performance - US stock markets collectively rose, with the three major indices experiencing gains for the third consecutive trading day. The S&P 500 index increased by nearly 1%, while the Dow Jones Industrial Average rose over 1% [1][5] - Specific index performances included: Dow Jones at 47112.45 (+664.18, +1.43%), S&P 500 at 6765.88 (+60.76, +0.91%), and Nasdaq at 23025.59 (+153.58, +0.67%) [2][5] Federal Reserve Developments - The final interviews for the new Federal Reserve Chair candidates are expected to conclude soon, with Kevin Hassett being viewed as the frontrunner for the position [8][9] - Federal Reserve Governor Milan stated that the US economy requires significant interest rate cuts, indicating that current monetary policy is hindering economic growth and contributing to rising unemployment [3][15] - Financial markets anticipate a 25 basis point rate cut during the Federal Reserve's meeting on December 9-10, which would lower the federal funds rate target range from 3.75% to 4% [15] Technology Sector Insights - Nvidia claimed its technology remains "a generation ahead of the industry," asserting it is the only platform capable of running all AI models across various computing scenarios [4][5] - Nvidia's stock faced a significant drop of over 7% before recovering slightly, closing down approximately 2.6%, marking a two-month low in market value [6] International Relations - Reports indicate that Ukraine has tentatively agreed to a peace agreement proposed by the US, although some terms are still under discussion [11][10] - The US and Ukrainian delegations have reached consensus on core terms of the peace agreement, with expectations for Ukrainian President Zelensky to visit the US soon to finalize the deal [11]

Market Overview - Japanese and South Korean stock markets both saw gains, with the Nikkei 225 index rising by 350.40 points, a 0.72% increase, closing at 49009.92 points [5] - The three major U.S. stock indices also closed higher for the third consecutive trading day, with the Dow Jones increasing by 1.43% to 47112.45 points, the S&P 500 up by 0.91% to 6765.88 points, and the Nasdaq rising by 0.67% to 23025.59 points [5] - European stock indices also performed well, with the FTSE 100 index in London closing at 9609.53 points, a 0.78% increase, the CAC40 index in Paris at 8025.80 points, up by 0.83%, and the DAX index in Frankfurt at 23445.62 points, a 0.89% rise [5] International Macro - The U.S. federal government budget deficit for October reached $284 billion, largely due to the impact of a recent government shutdown that lasted 43 days, delaying payments such as government employee salaries [7] - The announcement of the next Federal Reserve Chair is expected soon, with Kevin Hassett being viewed as the leading candidate [7] - Federal Reserve Governor Milan stated that the U.S. economy requires significant interest rate cuts, claiming that current monetary policy is hindering economic growth and gradually increasing unemployment [8] Corporate News - Nvidia claims its technology remains a generation ahead of the industry, being the only platform capable of running all AI models across various computing scenarios [8] - Apple is projected to surpass Samsung and reclaim its title as the world's largest smartphone manufacturer, driven by the successful launch of the new iPhone series and a surge in consumer upgrades. Apple is expected to capture 19.4% of the smartphone market, which is anticipated to grow by 3.3% overall in 2025 [8]

Market Performance - The three major U.S. stock indices closed higher, with the Dow Jones up 1.43% at 47112.45 points, the S&P 500 up 0.91% at 6765.88 points, and the Nasdaq up 0.67% at 23025.59 points [1] - Major U.S. tech stocks mostly rose, with Facebook increasing nearly 4%, Google up over 1%, Amazon up more than 1%, Microsoft up 0.63%, Apple up 0.38%, and Tesla up 0.39%. Nvidia, however, fell over 2% [1] - Chinese concept stocks showed mixed results, with Hesai Technology up nearly 11%, Tuya Smart up nearly 9%, and Qifu Technology up over 7%. NIO fell over 4%, Alibaba down over 2%, Atour down nearly 2%, and Baidu down over 1% [1] European Market - European stock indices all closed higher, with Germany's DAX index up 0.89% at 23445.62 points, France's CAC40 index up 0.83% at 8025.8 points, and the UK's FTSE 100 index up 0.78% at 9609.53 points [1] Commodity Markets - International precious metal futures generally rose, with COMEX gold futures up 0.78% at $4126.3 per ounce and COMEX silver futures up 1.50% at $51.08 per ounce [1] - U.S. oil main contract fell 1.24% to $58.11 per barrel, while Brent crude oil main contract dropped 1.2% to $61.97 per barrel [1] Currency and Bond Markets - The U.S. dollar index fell 0.39% to 99.81, while the offshore RMB appreciated by 239 basis points against the dollar to 7.0829 [1] - U.S. Treasury yields collectively declined, with the 2-year yield down 3.62 basis points to 3.459%, the 3-year yield down 2.23 basis points to 3.452%, the 5-year yield down 2.79 basis points to 3.564%, the 10-year yield down 3.07 basis points to 3.996%, and the 30-year yield down 2.05 basis points to 4.650% [1] - European bond yields also fell, with the UK 10-year yield down 0.8 basis points to 4.536%, France's 10-year yield down 2.6 basis points to 3.445%, Germany's 10-year yield down 1.1 basis points to 2.690%, Italy's 10-year yield down 1.9 basis points to 3.438%, and Spain's 10-year yield down 1.4 basis points to 3.193% [1]

Group 1 - The new national standard for power banks, titled "Mobile Power Safety Technical Specifications," is set to be implemented, rendering the existing 3C certification invalid. The new regulations are expected to be announced in December 2025, officially published in February 2026, and come into effect in June 2026. Approximately 70% of current production capacity may be forced to exit the market due to inability to meet the new technical requirements [2][3] - The implementation of the new standard will provide a six-month buffer period for existing products with 3C certification to clear inventory, while consumers can continue to use older certified products [2][3] Group 2 - The number of primary school students in Hong Kong has dropped to a 30-year low, with only 37,581 applicants for primary one places this year, reflecting a structural decline in the school-age population. This represents a year-on-year decrease of about 4,200 applicants, or approximately 10% [7] - The projected number of eligible children for primary one is expected to decline from 48,600 this year to 34,100 by 2030, indicating a nearly 30% overall decrease [7] Group 3 - Apple has announced layoffs in its sales department as it faces declining iPhone sales, particularly for the new iPhone Air model, which has not met sales expectations. The company is focusing on enhancing customer engagement while continuing to recruit for new positions [8] - The iPhone Air, which represents a significant design shift for Apple, is experiencing challenges in sales, leading to a reduction in production [8] Group 4 - Gree Electric Appliances plans to distribute a cash dividend of 5.585 billion yuan, with cumulative dividends exceeding 170 billion yuan since its listing. The company emphasizes the importance of maintaining operational capacity while meeting shareholder expectations [14][15] Group 5 - NIO reported a record revenue of 21.79 billion yuan for the third quarter of 2025, marking a year-on-year increase of 16.7%. The company also achieved a record delivery of 87,071 vehicles, a 40.8% increase year-on-year [24] - Xpeng Motors announced a total revenue of 181 million yuan for the third quarter, reflecting a year-on-year growth of 72% [25]

完整早报音频，请点击标题下方小耳机收听 【贝壳找房被爆大规模裁员， P8 及以上管理层削减 50%-60% 】 近日，市场突传贝壳找房启动大规模裁员，涉及产研、运营、中后台等多条业务线，网 传整体比例高达 30% ， P8 及以上管理层削减 50%-60% ，补偿方案为" N+4 "。据了解， 2025 年上半年贝壳员工总数减少约 3000 人，占期末员工 数仅 2.4% 。裁员潮背后，是贝壳刚刚披露的 2025 年第三季度财务报告透露出的明显生存焦虑。贝壳三季度净收入 231 亿元，同比微增 2.1% ；总交 易额 7367 亿元，整体看似平稳，但净利润却录得 7.47 亿元，同比下跌 36.1% ，毛利率从 22.7% 下降至 21.4% 。（新浪科技） 【梦洁股份回应董事陈洁举报：相关言论恶意捏造，已向公安机关报案】 梦洁股份官微 11 月 25 日发布《关于网络恶意不实信息的严正声明》称，公司 董事陈洁通过个人自媒体发布"实名举报"内容，声称公司及相关高管存在"设计圈套"、"请君入瓮"等不端行为，相关言论均为主观臆断或恶意捏造，已严 重侵害公司及相关高管的名誉权，扰乱资本市场秩序，涉嫌误导投资者。公司 ...

今日热点导览 TOP3大新闻 "史上最严"充电宝新规将落地，充电宝3C认证将全面失效 2025年11月25日消息，"史上最严"充电宝新国标《移动电源安全技术规范》即将落地，预计12月公示、 2026年2月发布，6月正式实施，原有3C认证届时失效。 对于新的标准，相关参与意见稿研讨会的企业负责人表示，"这次制定的标准非常严格，许多工厂难以 达到。工信部的态度很明确：达不到标准就不要继续生产，因为总有一些企业能够达标。" 上述参会企业负责人称："目前标准已基本定稿，预计12月公示，2026年2月正式发布，同年6月起实 施。新规落地后，原有3C认证规定将全面失效。" 据了解，新规实施后，预计将有近七成现有产能，因无法满足新标技术要求，将被迫退出移动电源市 场。已获3C认证的流通产品设半年缓冲期清理库存，消费者手中旧标产品可继续使用，合规产品仍可 携带登机。（新浪科技） 上海地铁试点"站票车厢" 近日，有网友发文称，在上海地铁9号线乘坐到部分无座车厢，并调侃"累了一天坐地铁站票回家"，引 发热议。有网友认为"这样设计可以多站人，避免抢座纠纷"，也有人质疑其合理性，建议"应增加发车 频次而非取消座位"。 11月23日， ...

机构认为，市场短期调整幅度过大，需要时间修复，12月大概率呈现窄幅震荡上行格局。 【财经日历】 新西兰联储公布利率决议 理想汽车发布财报 ►►国家航天局印发《国家航天局推进商业航天高质量安全发展行动计划（2025—2027年）》。行动计划指出，到2027年，商业航天产业生态高效协同，科 研生产安全有序，产业规模显著壮大，创新创造活力显著增强，资源能力实现统筹建设和高效利用，行业治理能力显著提升，基本实现商业航天高质量发 展。 行动计划指出，引导培育耐心资本。完善商业航天发展投融资体制机制，设立国家商业航天发展基金，鼓励地方政府、金融机构、社会资本联合成立投资平 台，引导资本坚持做长期投资、战略投资、价值投资。建立项目推送机制，遴选若干符合航天发展规划和投资政策方向，且创新性强、示范性好、具有产业 化发展潜力的商业航天项目向基金推送，基金以市场化方式自主决策。 | (双) 盘前必读 | // 外盘怎么样 // | | | | --- | --- | --- | --- | | 名称 现价 | | | 涨跌幅 | | 道琼斯工业平均 47112.45 664.18 1.43% | | | | | 纳斯达克指数 | ...