在消费升级背景下，电视已从单纯"观影工具"升级为家庭娱乐场景核心载体。但当前电视尺寸选购市场 乱象凸显：传统"尺寸-距离"对应表基于老旧显像管技术，无法适配4K/8K超高清、Mini LED等现代技 术；品牌营销话术模糊，缺乏统一标准，让消费者陷入"小客厅能否放大屏"的两难。多数家庭或因担心 视觉疲劳选小尺寸导致沉浸感不足，或盲目追大屏引发观看不适，这种"凭感觉"的选购模式既损害用户 体验，也制约行业高质量发展。 98/100 英寸电视适配 3 米及以上距离，是全家共享的终极影音选择。观看热门大片、顶级赛事时，巨 幕带来的全方位视野包裹感，让每位家庭成员都能获得 "置身现场" 的沉浸式体验。建议选择搭载 Mini LED、广色域技术的机型，可精准还原画面色彩与动态细节，升级家庭聚会的娱乐氛围。演员蒋梦婕体 验后分享："百吋大屏能清晰捕捉到'每一片花瓣飘落的轨迹、眼角泪光的闪烁'，让观影从'看剧情'升级 为'走入剧情'，深刻感受角色心境。" 品质生活：构建家庭美学与文化窗口 百吋电视不仅是影音设备，更成为传递文化与美学的重要载体。通过大屏呈现经典艺术形象、高清纪录 片等内容，可让东方美学自然融入家居环境，使客厅 ...

在影像系统方面，据爆料显示，nova 15 Pro将配备5000万像素主摄与5000万像素潜望式长焦镜头，并辅 以超广角及多光谱传感器。而Ultra版本的主摄将采用5000万像素、1/1.3英寸超大底传感器方案，进一 步强化拍照能力与成像质量，整体影像规格实现显著升级。 华为终端今日宣布，主题为"超超超超潮酷"的nova 15系列及全场景新品发布会将于12月22日14时30分 举行。据最新消息，此次发布的nova 15系列将包含三款机型，分别为nova 15、nova 15 Pro与nova 15 Ultra。 华为终端今日宣布，主题为"超超超超潮酷"的nova 15系 列及全场景新品发布会将于12月22日14时30分举行。据 最新消息，此次发布的nova 15系列将包含三款机型，分 别为nova 15、nova 15 Pro与nova 15 Ultra。 有数码博主透露，nova 15标准版将搭载麒麟8系列芯 片，而Pro与Ultra两个高配版本则将升级至麒麟9系列芯 片平台。不过，具体芯片型号尚未明确公布，目前仍无 官方确认信息。 参考前代产品，华为nova 14系列最高配置采用的是麒麟 8020芯片，此 ...

Core Viewpoint - The article discusses the recent Pre-A round financing of Fangqing Technology, a developer of AI chips and system architecture, highlighting the strategic importance of its innovative technology and the high-profile investors involved [6][9]. Financing and Investment - Fangqing Technology has completed its Pre-A round financing, with participation from industry investors such as a major internet company, Xianlian Capital, and Yima Capital, a fund under Hengsheng Electronics. Financial investors include Guangfa Xinde and a leading VC firm, with existing shareholders also increasing their stakes. The total financing amount has exceeded 500 million RMB in recent rounds [6]. - The company has rapidly attracted a prestigious group of shareholders, including internet giants, hardware leaders, automotive companies, and top VCs, indicating strong market confidence in its potential [10]. Technology and Innovation - Fangqing Technology proposes a new technology direction with a "context-aware" and "context-free" decoupled distributed computing architecture, separating feed-forward neural networks and attention mechanisms to enhance overall computational efficiency [7][9]. - The company aims to redefine AI hardware design by prioritizing scalable system design over single-chip performance, potentially leading to new market opportunities and innovative system forms [10][19]. Leadership and Vision - CEO Liang Jun, with extensive experience in the chip industry, emphasizes the need for a shift in chip design priorities towards scalable systems, which could liberate computing capabilities from traditional SoC constraints [10][18]. - The article highlights Liang's unique background and vision as a valuable asset in the current investment landscape, where capital is increasingly looking for breakthroughs in computational efficiency beyond traditional architectures [9][11]. Market Context - The article notes that 2025 is anticipated to be a pivotal year for AI applications, with significant investments from major players like ByteDance, Tencent, and Alibaba in AI infrastructure, intensifying the competition for computational resources [9]. - The shift in capital logic from seeking alternatives to Nvidia towards finding new species capable of overcoming Transformer architecture efficiency bottlenecks is discussed, positioning Fangqing Technology's approach as a timely innovation [9][10]. Future Outlook - Fangqing Technology's separation architecture is seen as a potential game-changer, allowing various devices like smartphones, smart glasses, and headphones to function as independent processing units, thus redefining their roles in the AI ecosystem [20][22]. - The company aims to accelerate innovation and define new forms of computing systems, rather than merely replacing existing ones, which could lead to significant market transformations [22].

Core Viewpoint - The HarmonyOS Innovation Competition highlights the potential for developers to create and innovate using the HarmonyOS platform, suggesting it as a better choice for future growth and opportunities in the tech landscape [3]. Group 1: Scene Innovation - In the era of stock markets, finding new growth often requires opening new physical spaces, with HarmonyOS serving as a gateway to next-generation computing platforms like smart cockpits [5]. - The seamless flow of experiences across multiple devices enabled by HarmonyOS is expected to create a new interactive entertainment experience that traditional operating systems cannot achieve [7]. - Smart cockpits are emerging as a new traffic hub, with the potential for HarmonyOS to become a dominant operating system, crucial for breaking through the ecosystem [8]. Group 2: Experience Innovation - BabyBus addresses a common pain point in children's education apps by utilizing HarmonyOS's multi-device capabilities to streamline payment processes, significantly improving conversion rates [10]. - HarmonyOS's distributed capabilities allow for a seamless experience across various devices, enhancing the educational and entertainment experience for children [12]. - The transition to a "no-app" interaction model through service cards and intent frameworks allows for a more intuitive user experience, particularly for children [14]. Group 3: Technical Innovation - The cost of computing power is a significant concern for video streaming platforms, and HarmonyOS's edge AI capabilities help mitigate these costs by offloading heavy tasks to user devices [18]. - The efficiency of development on HarmonyOS is remarkable, with teams completing in three months what would typically take years on other platforms, thanks to its unified development framework [20]. - The integration of AI tools in development processes has led to a 15% increase in overall efficiency, allowing smaller teams to achieve high-quality results [22]. Group 4: Efficiency Innovation - The integration of AI with weather services has revealed high commercial value among HarmonyOS users, prompting rapid development to capture this market [22]. - The use of HarmonyOS has significantly reduced the code required for UI design, enhancing development speed and efficiency [22]. - The user experience is improved through features like one-click login, which has a higher success rate than average market levels, boosting product engagement [22]. Group 5: Innovation Competition - The 2025 HarmonyOS Innovation Competition showcases the vibrant ecosystem of developers, emphasizing the importance of collaboration and innovation in creating the next generation of commercial entry points [27]. - The competition has demonstrated that developers can achieve significant growth and success by leveraging the capabilities of HarmonyOS, with many expressing confidence in the platform's potential [28]. - The event marks a transition for the HarmonyOS ecosystem from its initial phase to a period of value realization, indicating a robust future for the platform [33].

12月5日，2025深圳全球招商大会落下帷幕。 大会洽谈签约项目超340个，涉及投资总额超7700亿元，以丰硕成果彰显深圳作为全球投资热土的强大 吸引力。会上，深圳向全球企业家、科学家、投资者及各类优秀人才来发出"城市合伙人"的邀请。 "开放链全球，创新领未来"。从"链全球"到"领未来"，是姿态，更是行动。这不仅是一场汇聚全球资本 与智慧的盛会，更是一次对深圳城市特质与发展势能的集中展示。 12月11日，2026年亚太经合组织非正式高官会举行，APEC"中国年"正式拉开序幕。这场国际盛会选择 深圳，既是对城市综合实力的高度认可，更是全球赋予深圳的重大发展机遇。 站在"十四五""十五五"交汇的历史关口，作为APEC第三城的深圳再次成为世界瞩目的焦点。开放创新 的深圳以其雄厚的产业生态和一流的营商环境，向世界发出了携手共赢的时代强音。 创新不问出身的活力 创新，是深圳最鲜明的标识，也是其吸引全球投资者的核心优势。 一组数据足以佐证：全社会研发投入强度达6.67%，跃居全国城市首位；深圳-香港-广州创新集群登顶 全球；国家级专精特新"小巨人"企业数量突破1300家，居全国第一……这些"硬核实力"的背后，是深圳 历经 ...

当辅助驾驶从前沿科技变为全民可享的日常体验，一个真正的智慧出行时代已经到来。近期，抖音平台 #买车就买乾崑智驾挑战赛热度飙升，吸引了大量网友自发参与，相关投稿迅速突破7.2万条，展现出强 烈的市场反响与群众关注。 亮眼数据背后是跨圈层的广泛参与，车圈与科技类博主深入解析技术，生活与泛娱乐类创作者发掘应用 场景，广大用户则分享亲身经历。这些多元记录，让已获行业与市场双重认可的华为乾崑智驾，完成了 从硬核技术到温暖体验的转化，也映照出其赢得的坚实信赖。 技术实力是信任的基础，安全是一切的基石。在太平洋汽车联合同济大学开展的2025辅助驾驶大横评 中，搭载华为乾崑智驾ADS的所有车型表现都非常突出，在多场景城区辅助驾驶挑战、AEB测试路遇侧 翻车等项目中均拿到了TOP成绩，华为乾崑智驾也凭借卓越的技术与安全实力在一次次实测中证明了自 己。 在行业层面，华为乾崑智驾的"朋友圈"持续壮大，合作 生态日益完善。截至10月底，华为乾崑已与15家车企达 成合作，华为乾崑智驾已广泛应用于鸿蒙智行、阿维 塔、深蓝、东风岚图、东风猛士等多个品牌，覆盖纯 电、增程、混动、燃油等多种动力形式，目前已有35款 量产车型上市，实现了从15 ...

Core Insights - The ongoing changes in the international landscape highlight the risks of traditional foreign trade enterprises relying too heavily on a single market. However, these challenges also present new opportunities for growth [1]. Trade Dynamics - In the first three quarters of 2025, China's imports and exports to countries involved in the Belt and Road Initiative reached 17.37 trillion yuan, an increase of 6.2%, accounting for 51.7% of the total trade value [1]. - Exports of electromechanical products from China reached 12.07 trillion yuan, growing by 9.6%, which constitutes 60.5% of total exports, indicating a shift from reliance on the U.S. to a more global approach [1]. Market Opportunities - Emerging markets are showing strong growth, with imports and exports to ASEAN increasing by 9.6%, Africa by 19.5%, and Central Asia by 16.7% [1]. - The AES Home Appliances and Consumer Electronics Expo aims to deepen its presence in nine key overseas markets across five continents in 2026, inviting industry peers to collaborate in the global trade wave [1][21]. Regional Focus: Southeast Asia - Vietnam's GDP growth rate reached 6.42% in the first half of 2024, with expectations to rise to 6.5% in 2025, driven by a young population and strong domestic demand [24]. - Indonesia, as Southeast Asia's largest economy, is experiencing a significant expansion of its middle class, projected to add 8 million new users by 2028, enhancing market vitality [25]. Regional Focus: Middle East - Dubai serves as a strategic hub for trade, with a high GDP per capita exceeding $40,000, and a significant expatriate population driving demand for affordable products [27]. - Saudi Arabia's e-commerce sales grew by 31.3% in the first half of 2025, with consumer electronics accounting for 23.3% of online sales, indicating robust online consumption potential [29]. Regional Focus: Latin America - Mexico's strategic location as a member of the USMCA provides tariff advantages for exports to the U.S., making it a key entry point for Chinese companies into North America [11]. - Brazil's electronic products and appliances saw a 34% increase in sales in the first half of 2024, driven by rising incomes and the expansion of offline retail channels [13]. Regional Focus: Africa - South Africa, as one of Africa's most developed economies, has a significant demand for cost-effective and quality products, with a young population driving consumption [35]. - China's exports to Africa reached approximately $97 billion in the first seven months of 2024, with electromechanical products making up 53% of this total [36]. Regional Focus: Europe - Poland's strategic location allows for efficient transportation to major European markets, with a stable demand for Chinese home appliances and consumer electronics [16]. - The EU's strict energy efficiency regulations are increasing demand for high-efficiency appliances, providing a competitive edge for Chinese manufacturers [38].

记者丨 林典驰 编辑丨孙超逸 近期，固态电池独角兽北京卫蓝新能源科技股份有限公司（简称卫蓝新能源）正式启动上市辅 导， 若此次成功登陆资本市场，卫蓝新能源有望成为"固态电池第一股" 。 卫蓝新能源专注研发、生产固态电池，是中国科学院物理研究所固态电池产学研孵化企业，由 俞会根、陈立泉、李泓共同创立。 今年6月26日，《2025全球独角兽榜》发布，卫蓝新能源以185亿元的估值位列榜单第455位。 目前，公司已在北京房山、江苏溧阳、浙江湖州布局生产基地，并计划在山东淄博、广东珠海 拓展新产能。产品线覆盖高能量密度动力电芯、储能电芯等专用电芯，目前相关产品已向多家 整车厂商、储能企业和海外客户实现交付。 在"中国锂电之父"陈立泉院士的引领下，成立不足十年的卫蓝新能源迅速崛起为固态电池赛道 的有力竞争者。 背靠中科院物理所深厚科研底蕴，并吸引蔚来、华为、小米等48家重量级股 东加持 ，这家独角兽企业正加速推动固态电池实现规模化落地。 团队由"中国锂电之父"领衔 卫蓝新能源成立至今不到10年，但公司技术背景浓厚，有着"中国锂电之父"之称的中国工程院 院士陈立泉从中发挥着重要作用，陈立泉持有公司2.81%的股份。 资料显 ...

5G通信 数十万5G与信息领域关注者的头部科技媒体 中国移动披露全年采购超5300亿元，签约供应商逾1.7万家，战略供应商10家，核心供应商14家，优秀（A级）供应 商299家。这组数字背后是什么？——蛋糕在变小。 采购规模 年采购额超5300亿元，供应商逾1.7万家。 战略供应商10家，核心供应商14家，优秀（A级）供应商299家。 CAPEX趋势 2022 H1 (920亿) -> 2025 H1 (584亿)，连续三年同比下降，整体下降幅度超过了30%。 CAPEX占比 2025年H1占三大运营商总投入的51.8%。 文 赵哲超/5G通信 刚看到中国移动这次供应链大会的数据，说实话，这个分级体系比我预想的还要"狠"。 供应商分级 2025年度中国移动核心供应商共有14家，包括海光信息、海思、飞腾公司、盛科通信、中天科技、长飞光纤、亨通 光电、创维数字、京信通信、潍柴动力、美的集团、格力电器、亚信科技、北京华弘等。 这个名单很有意思。海光信息、海思、飞腾这几家国产芯片设计公司能进入"核心"序列，说明什么？中国移动在加 快构建自主可控的供应链。特别是海光信息，这家公司的GPU在AI算力领域可是有两把刷子的。 ...

证券研究报告 | 2025年12月15日 电子行业周报 优于大市 春季躁动在即，关注 1 月业绩催化集中的 AI 算力+存力链 春季躁动在即，关注 1 月业绩催化集中的 AI 算力+存力链。过去一周上证下 跌 0.34%，电子上涨 2.63%，子行业中电子化学品上涨 6.99%。同期恒生科技、 费城半导体、台湾资讯科技下跌 0.43%、下跌 3.58%、上涨 0.79%。我们认为， 电子板块近一个月的弱势表现主要是由于国补退坡、二季度抢出口以及存储 缺货涨价所引致的三季报走弱。当下时点处于近半年的业绩空窗期，而部分 受益于海外 AI 算力需求高增长的标的临近 1 月份业绩预告催化，同时基于 2026 年 AI 手机、AI 眼镜、折叠屏等端侧创新预期所有望引致的春季躁动行 情，我们维持对于电子行业"保持乐观展望，维持配置耐心，以时间换空间" 的投资建议，继续推荐自主可控（代工+设备）、海外算力+存力产业链。 此外，近期多个硬科技主题基金快速获批，亦有望助力板块加速开启筑 底反弹。重点推荐：翱捷科技、江波龙、生益科技、德明利、蓝思科技、 立讯精密、蓝特光学、恒玄科技、澜起科技、中芯国际。 博通预计 AI 芯片收入 ...