Core Insights - The article features a rare in-depth conversation with the renowned entrepreneur and investor Duan Yongping, discussing his philosophy of "being true to oneself" and its application in business, investment, and personal development [3][4][6]. Investment Logic - Duan emphasizes that understanding the business is the core of investment, sharing insights from his experience with companies like Apple and Moutai, highlighting the importance of business models and corporate culture in investment decisions [4][24][25]. Corporate Culture and Succession - The success of companies like OPPO and vivo is attributed to a hiring principle where cultural fit is prioritized over capability, and a systematic approach to identifying compatible partners over time [5][29][30]. Marketing Principles - Duan advocates for honesty in marketing, stating that communication with users should be efficient and truthful, which he believes is essential for building trust and brand loyalty [6][55]. Education Philosophy - He provides insights on parenting, arguing against physical punishment and advocating for unconditional love and boundary-setting to foster a sense of security in children [6][74][75]. Long-term Perspective - Duan defines a "calm mind" as rationality and long-term thinking, suggesting that maintaining a long-term perspective can lead to better decision-making in both business and life [6][92]. Reflections on Success - The conversation touches on the role of luck and effort in success, with Duan asserting that while luck plays a part, consistent effort and understanding one's business are crucial for achieving long-term success [6][78][82]. Insights from Buffett's Lunch - Duan shares a key takeaway from a lunch with Warren Buffett, emphasizing the importance of a company's business model and culture as filters for investment decisions [4][87][88]. AI and Future Perspectives - The discussion includes thoughts on AI, recognizing its potential to enhance efficiency while also acknowledging the uncertainties it brings to the future [6][90]. Philosophy of "Being True to Oneself" - Duan's overarching philosophy revolves around the concept of "being true to oneself," which he believes underpins both effective business strategies and a fulfilling life [6][93].

元旦假期快到了，不少人已经开始规划这几天小长假要去哪里玩，但也有部分晕车群体开始发愁，对于他们来说，只要车一开，就会头晕、恶心、冷汗直 冒，想睡也睡不着，妥妥的「坐牢」，也因此市面上存在各种各样的晕车药、晕车贴以及一些民间处方。 可能很多读者都不知道，其实这两年手机厂商都默默纷纷在系统里加了一个看上去有点玄学的功能：晕车模式，当然也有厂商称其为车辆运动提示或晕动视 觉辅助，虽然命名方式不同，但其目标是一致的——让你在车上刷手机没那么难受。 除了手机，很多新能源汽车也推出了「晕车舒缓模式」，好像防晕车模式突然成了科技圈新的「刚需卖点」。 问题来了：手机上的晕车模式到底是噱头，还是确实能救一救「晕车党」？ 晕车模式：苹果首创，安卓厂商跟风 在了解晕车模式之前，我们先来科普一下为什么人会晕车。简单讲，就是人的大脑被「信息冲突」影响：明明耳朵里的前庭系统感受到车辆在行驶状态，但 眼睛却盯着一个几乎静止的手机屏幕，两路信号对不上，大脑就会用「恶心、反胃、出冷汗」这种方式来抗议。 苹果是第一家将这项功能推到大众眼前的厂商，其在 iOS 18中就加入了「车辆运动提示」，当系统检测到你正在乘车时，会在屏幕边缘出现一圈随着车辆 ...

Investment Rating - The report does not explicitly provide an investment rating for the industry Core Insights - The video codec technology is crucial for processing massive video data, driving the development of the digital visual industry [6] - The evolution of video codec standards is closely tied to patent management, influencing both the efficiency of technology dissemination and the healthy development of the industry ecosystem [6][7] - The report analyzes the global landscape of standard-essential patents (SEPs) and standard proposals in the video codec field, focusing on H.264/AVC, H.265/HEVC, and H.266/VVC standards [8] Summary by Sections Video Codec Standardization and Industry Development - The market has formed a diversified video codec standard ecosystem influenced by technological evolution, commercial competition, and geopolitical factors [16] - The three main standard camps are H.26x/MPEG-x, AVS, and AVx, each playing a significant role in the global video codec market [27] Video Codec Industry Application - Video codec technology impacts various sectors, including streaming services, video conferencing, digital TV broadcasting, and video surveillance [28] - H.26x/MPEG-x standards are widely used across all application scenarios, while AVS standards are primarily applied in China, and AVx standards are gaining traction in the streaming domain [35] Standard-Essential Patent Utilization - The video codec field has two main patent pool management organizations: Via Licensing Alliance and Access Advance, managing SEPs for H.264/AVC and H.265/HEVC standards [37] - The report highlights the increasing frequency of SEP licensing disputes, which are expanding beyond traditional device manufacturers to include content providers [49]

Core Insights - Goldman Sachs highlights that while Apple has not made significant progress in Apple Intelligence, major Chinese smartphone brands have integrated OS-native AI assistants powered by self-developed LLMs and/or third-party LLMs [1] Group 1: ByteDance's Doubao - The newly released Doubao smartphone assistant has achieved system-level integration through collaboration with smartphone OEC manufacturers, reflecting ByteDance's intention to expand into mobile internet infrastructure and the smartphone ecosystem [1] - Doubao's recent input method product further emphasizes this strategic direction [1] Group 2: Xiaomi's AI Strategy - Xiaomi's substantial investment in GUI has positioned its AI assistant, Super Xiao Ai, among the top three OS-native AI assistants in China, alongside OPPO and Huawei [1] - The penetration rate of Super Xiao Ai among Xiaomi smartphone monthly active users (MAU) is reported to be 71% [1] Group 3: Jumpshare's Developments - Jumpshare has recently open-sourced its GUI intelligent agent, Gelab, which can be deployed locally and has achieved state-of-the-art (SOTA) performance in several benchmark tests [1] - The company has previously collaborated with ZTE to develop a smartphone assistant aimed at elderly users and has engaged in AI smartphone feature partnerships with domestic manufacturers such as Honor and OPPO [1]

作者 ｜ 木子、高允毅 2023 年 4 月，在很多人刚听说"大模型"这个词的时候， 智谱团队 开始研究一个听上去不太现实的目标： 让 AI 真正学会"使用手机" ，也就是像真人一样，对智能手机等设备具有使用能力。 32 个月后，智谱把阶段性 重要成果、核心 AI Agent 模型：AutoGLM 给 完整开源 了出来，并放话："每台手机，都可以成为 AI 手机。" 目前，AutoGLM 已支持上百个主流 APP，包括以下这些： 另外，AutoGLM 还能同时在上千台云端虚拟手机里"练功"，通过强化学习等极大地扩展了 Agent 的准确性和泛化能力。而且它被严格关在虚拟设备的安 全沙箱里，既能自由试错，又不会碰到用户真实手机上的隐私数据。 智谱今天开源的是一整套可以"拿来就用"的能力，具体包括： 模型会以 MIT 开源许可证 的形式开放，而所有代码会以 Apache-2.0 开源许可证 的形式，托管在 GitHub 仓库中：github.com/zai-org/Open- AutoGLM。 为什么选择开源？ "从产品的角度，AutoGLM 已经可以支撑起很多真实场景；从工程的角度，AutoGLM 的积累足够写 ...

Core Viewpoint - The open-sourcing of AutoGLM by Zhipu AI marks a significant shift in the mobile industry, enabling the creation of AI agents that can operate smartphones similarly to human users, thus democratizing access to advanced AI technology [4][9][19]. Group 1: Open-Sourcing of AutoGLM - Zhipu AI has officially open-sourced its core AI Agent model, AutoGLM, which has been in development for 32 months and possesses the capability to operate mobile devices [1][4]. - The open-sourcing is seen as a "table-turning" move, allowing hardware manufacturers and developers to create personalized AI assistants that can interact with various applications [4][9]. - AutoGLM supports over 50 high-frequency Chinese applications, enabling automated operations similar to the recently launched "Doubao phone" [4][8]. Group 2: Industry Context and Reactions - The announcement comes after the launch of the "Doubao phone" by ByteDance and Nubia, which caused significant disruption in the tech industry and prompted major companies to implement defensive measures against its capabilities [6][8]. - The "Doubao phone" was able to perform complex tasks across applications, leading to a swift market response and concerns over privacy and data control from major internet companies [8][9]. Group 3: Technical Innovations - AutoGLM's development involved creating a framework that allows AI to understand and interact with mobile interfaces, marking a significant evolution from previous systems [12][15]. - The model utilizes Android Debug Bridge (ADB) commands combined with visual models to perform human-like operations, making it difficult for app developers to implement effective defenses [15][18]. - Zhipu AI has addressed privacy concerns by allowing data to remain on the user's device, thus countering arguments from major companies about potential data breaches [18]. Group 4: Implications for the Mobile Industry - The open-sourcing of AutoGLM is expected to reshape the mobile industry, similar to how autonomous driving has transformed the automotive sector, providing a new competitive edge for hardware manufacturers [20]. - Major internet companies face challenges as users can bypass traditional app interfaces, potentially disrupting their established flow of traffic and revenue [23]. - Individual developers are empowered to create specialized AI agents, leading to a more diverse ecosystem of applications and services [24]. Group 5: Conclusion - The open-sourcing of AutoGLM signifies a fundamental shift in user and developer control over mobile technology, indicating the decline of closed ecosystems and the rise of a new era in intelligent mobile interactions [28].

来源：中信书院 在公众视野渐隐多时的知名企业家、投资人段永平，近期罕见现身纪实节目《共同说》第三季，与王 石、田朴珺展开一场深度对谈，这是一次难得的同框。 节目中，王石展现出沉静睿智的气度，将访谈的主场自然交予田朴珺，自己则以陪伴与补充的姿态从容 参与，田朴珺沉稳、自信的状态把握着对话进程。 近年来鲜少公开露面的段永平，此次选择走入这样一场深度对谈，高度体现了对节目理念的认可，也映 照出《共同说》所营造的对话场域——一种真诚、平等且具有延续性的思想交流。整场交流在田朴珺的 引导下平稳展开，王石与其默契相伴，构成了一种含蓄而协调的对话氛围。 对话中，段永平首次较为系统地阐释了贯穿其商业与投资实践的"本分"哲学，并将这一理念延伸至企业 传承、代际沟通与个人修养的层面。他展现出一种珍贵的思想路径：如何以同一套朴素而稳固的底层逻 辑，连贯地支撑起投资、经营与生活。 关于投资，他斩钉截铁："投资最主要是要懂生意。"并详细分享了拍下巴菲特午餐获得的终极启示—— 如何用"商业模式"和"企业文化"两道滤网，锁定苹果与茅台。 关于传承，他揭示了OPPO、vivo持续成功的核心不是个人权威，而是招聘时"文化匹配先于能力"的冷 酷 ...

Core Viewpoint - Transsion Holdings, known as the "King of African Mobile Phones," has submitted an IPO application to the Hong Kong Stock Exchange amid performance fluctuations and the need for new growth avenues, following its 2019 listing on the STAR Market in China [2] Financial Performance - In the first half of 2025, mobile revenue is expected to decline by 18.4% year-on-year to 26.093 billion yuan, with a gross margin dropping to 19.0% [2] - Revenue for the first three quarters decreased by 3.33% to 49.543 billion yuan, while net profit attributable to shareholders plummeted by 44.97% [2] - Despite a 22.6% year-on-year revenue surge in the third quarter, net profit still fell by 11.06% [2] - As of December 8, 2023, Transsion's A-share market capitalization is approximately 80 billion yuan [2] Market Position and Competition - Transsion's mobile phone shipments are projected to reach 201 million units in 2024, marking a historical high, with a global market share ranking third for five consecutive years [5] - In the African market, Transsion holds a 51% market share as of the third quarter of 2025, but its growth rate has slowed to 25% compared to competitors like Xiaomi and Honor, which have seen growth rates of 34% and 158%, respectively [6] - The competitive landscape in Africa has intensified, with rivals moving into the mid-range market segment, diminishing Transsion's previous advantages [6] Strategic Initiatives - Transsion is pursuing a dual listing to enhance its capital operations and expand into Southeast Asia and the "Belt and Road" markets [7] - The company is diversifying its business into energy storage, new energy vehicles, and smart home appliances, with significant R&D investments of 2.139 billion yuan in the first three quarters of 2025, a 17.26% increase [7] - The company aims to establish a dual-brand strategy in the energy storage sector and has launched personal and commercial electric vehicle brands [7] Transition Challenges - The mobile business still accounts for over 90% of revenue, and new business lines have yet to achieve scale [8] - Short-term efficiency improvements in the mobile segment through AI are unlikely, and the transition to new business areas will take time [8] - The upcoming IPO is seen as a means to raise funds and signal confidence in the company's transformation efforts [8]

"迄今最薄iPhone"，厚度仅有5.6毫米、重165克的iPhone Air甚至在发布之前就吸引了足够多的注意力。 图/苹果官网截图 然而，自2025年10月22日正式发售以来，它的市场表现就远不如预期。 卖得不好这件事几乎不需要证明，生产端已经给出了反馈。有报道称，苹果供应商已经拆除了多条iPhone Air生产线。就连小米、OPPO、vivo等多家手机 厂商最近也传出消息，取消轻薄机型相关项目。 这款一度被视为2025年苹果秋季发布会最大亮点的手机，为什么没能让更多人想要真的拥有？ iPhone Air，没人"爱"？ 李晨（化名）是一名理工男，他对手机的要求简单到有些"过时"：不打游戏、不爱拍照，手机很少外放，电池也是勉强能撑大半天就行，最重要的是—— 够轻，为此他愿意牺牲一些功能选择iPhone Air。 但像他这样的人，在如今的智能手机市场里并不是主流。这也直接导向了iPhone Air 的尴尬：它满足了一小群人对轻薄的渴望，却无法承载大多数人的需 求。 从实际的市场反馈看，轻薄并非刚需，甚至可以说，它在很多人的决策列表里根本排不上号。今年苹果的iPhone 17系列销售情况颇佳，刚过去的"双11" ...

12 月 8 日消息，谁能想到，之前把马斯克批得品行不行的段永平，如今居然成了特斯拉的自来水？ 小雷在上个月专门写过一篇关于段永平捐赠 2.2 亿元支持北京师范大学建设的文章，对他也算有一些了解。 他可不是普通投资人，早年是步步高的前 CEO，一手把小霸王和步步高带火，后来还拆分出了 OPPO、vivo 这些咱们耳熟能详的品牌。在投资圈里他更是 被称为"中国巴菲特"，他的一句话都能让不少人跟着琢磨。 图源：微博 就在最近，这位大佬在雪球上发了条动态，说自己新买了辆特斯拉 Model Y，试驾的时候彻底被自动驾驶圈粉了，直夸"确实很好"。更有意思的是，他开车 看手机、发短信时，被车辆系统两次强制接管，直接开到路边停着了。还兴奋发了句"Okay, Tsla, I'm back！"（特斯拉，我回来了）。 而试驾前几天，他刚因为看了马斯克的演讲突然明白电动车的能源优势，没过多久就官宣买了特斯拉的股票，这次试驾更像是对产品的一次验证。 这波180度大反转，小雷是真没料到。要知道他之前对马斯克的品行是很有意见的，甚至直言不愿跟对方做投资朋友。 图源：微博 就在上个月的采访里，段永平还说马斯克有本事但品行不合自己预期，投资 ...