Group 1 - The core viewpoint of the article highlights the resilience of the technology sector, driven by liquidity easing, policy support, and high industry prosperity [1] - The AI hardware sector is benefiting from a global technology cycle, with marginal profit growth (ΔG) showing no signs of a turning point, indicating continued strength [1] - AI applications are transitioning from computational infrastructure to scenario realization, accelerating commercialization due to policy guidance, demand release, and increased capital investment [1] Group 2 - New themes emerging from the 14th Five-Year Plan, such as commercial aerospace and brain-computer interfaces, have the potential to become new mainlines in the industry [1] - The cyclical industries are performing actively due to improvements in PPI and supportive policies against internal competition, creating a dual growth pattern of technology and cyclical sectors [1] - The ChiNext Index ETF Guotai (589630) tracks the ChiNext Index (000680), which has a daily price fluctuation limit of 20% and covers approximately 97% of the market capitalization with over 500 constituent stocks [1]

在刚刚落幕的2026年拉斯维加斯CES展会上，全球科技圈达成了一个共识：AI不再是只存在于云端的算 法，它必须"长出身体"。 当硅谷的工程师们在白板上画出"AI+硬件"的蓝图时，他们比以往任何时候都更需要一个答案：谁能最 快把这串代码变成一个会跑、会听、会动的实体？越来越多全球创客将目光投向了深圳，投向了华强 北。 从"一米柜台"到"一人公司（OPC）"，从电子零件集散地到AI应用高地，华强北正在经历一场关乎底层 逻辑的进化。 速度的较量： "上午设计、下午打样"为何是AI时代的刚需？ 在本届CES上，玩出梦想、大象机器人等27家华强北本土企业组团出海，但这只是冰山一角。更深层的 力量隐藏在华强北那著名的"三圈联动"生态里。 AI技术的迭代是以周甚至以天为单位的。如果一个创新概念在实验室里躺三个月才能出样机，那它出 生即落后。华强北的护城河，正是那种"一星期全流程高速制造"的残酷效率。 在这里，1.45平方公里的土地上，隐藏着一套全球最敏捷的供应链。所谓的"三圈联动"，本质上是把研 发、打样、生产、出海压缩到了极致。这种"小步快跑"的容错率，让华强北成为了AI硬件的"加速器"。 当全世界还在讨论AI能否落地时 ...

截至午间收盘，中证智能电动汽车指数上涨0.4%，国证机器人产业指数下跌0.8%，中证物联网主题指数下跌1.7%，中证消费电子主题指数下跌2.4%，资金 逆势加仓，机器人ETF易方达（159530）半日净申购超3000万份。 0.4% 消费电子ETF易方达餐 眼踪中证消费电子主题指数 该指数聚焦的AI硬件是目前 主要的智能终端品类,由业 务涉及元器件生产、整机品 牌设计及生产等消费电子相 关公司股票组成。 截至午间收盘 该指数涨跌 -2.4% 物联网ETF易方达 跟踪中证物联网主题指数 跟踪中证智能电动汽车指数 该指数聚焦的智能电动汽 年有望成为具身智能落地 的代表性方向之一，覆盖 动力系统、感知系统、决 策系统、执行系统、通讯 系统、整车生产等产业链 环节。 截至午间收盘 该指数涨跌 每日经济新闻 ...

以下文章来源于硬氪 ，作者张子怡 硬氪 . 专注全球化、硬科技报道。36kr旗下官方账号。 监测饮食健康和运动，是个很有趣的想法，也确实拥有着相对空白的市场。 "（它会）看到你吃饭的每一口，看到你的运动每个步数。然后我们把这些行为变成数据和建议来指导大家的生活。"潘宇扬表示。 健康管理 是门大生意。和老一辈不同， 年轻一代 信任 设备、 数据 和分析技术 。 作为一个 9 7 年 创业者 ， 潘宇扬自己 就是可穿戴设备深度用户 。他 脖颈间挂着 Odyss N1 ，手上戴着一枚智能戒指，手腕 佩着手环 。 年轻人是可穿戴设备 最值得挖掘的增量用户 。 但他们也是最挑剔的用户，只有新奇、有趣和技术体验过硬的产品才能在他们心智 中扎根。 文 ｜ 张子怡 编辑 ｜ 袁斯来 来源｜ 硬氪（ID：south_36kr） 封面来源 ｜ 企业官网 畅销书《超越百岁》强调运动是长寿的基石，但营养学层面，作者彼得 ·阿提亚提出了一个更为棘手的挑战：世界上不存在适合所有人的'完美饮食'。 彼得 ·阿提亚认为无论素食还是肉食，衡量饮食是否健康的唯一标准，是它能否改善个体的代谢健康，尤其是胰岛素敏感性。这意味着，照搬网上的通用 食谱 ...

眼镜是最热门的答案。但光帆科技创始人董红光给出了一个反直觉的方案：一对单耳仅11克重、却装了摄像头的AI耳机。 作为小米第89号员工、MIUI 早期核心成员，光帆科技创始人董红光他在过去十多年里深度参与了移动互联网交互规则的构建——图形界面、触 控操作、APP生态，这些今天看来理所当然的东西，都是那一代人一行行代码写出来的。但从手机到AI硬件的跨越中，董红光第一次发现，自己 那个靠点击、滑动在无数APP孤岛间切换的时代，正在撕开一条裂缝。 这期对话围绕几个核心问题展开：为什么是耳机而非眼镜？从图形界面到意图感知，交互逻辑发生了什么根本变化？一个越用越懂你的AI助手， 跟纯工具有何不同？以及，为什么通用硬件的价值一定大于专用硬件？ 一、为什么是耳机，而非眼镜 当全行业都在押注智能眼镜时，光帆科技却选择了把眼睛装在耳机上。 董红光是智能眼镜的狂热爱好者，但放弃眼镜这个形态来自冷静的判断：眼镜的重量、光机显示效果、续航、对妆容的影响——这些问题短期内 难以解决。更关键的是，新品类需要用户付出佩戴成本，而收益是否足够覆盖成本？ AI大模型开始具备上帝视角，所有人都在问同一个问题：下一代计算终端会是什么形态？ "耳机已 ...

老水看盘 "众人拾柴火焰高" ， A 股大盘的强势表现出乎市场预期。 连续收出的阳线，无论数量是 16 根还是 17 根，已非当前核心关注点。回顾历史，2021 年 底曾出现过 11 连阳，调整一日后又续创 7 连阳的走势。当前市场最大的看点在于成交量 —— 单日成交量达 3.6 万亿，较 2024 年 10 月 8 日的 3.4 万亿前期巨量增加约 2000 亿，这是时隔一年多市场再度出现的"天量成交"。通常市场存在 "天量之后出天价" 的惯性， 因此后期指数延续新高态势，至少明日再创佳绩，基本没有悬念。 水皮杂谈 一家之言 兼听则明 偏听则暗 目中无人 盘面消息 A股三大指数今日继续强势表现，沪指日线17连阳再创逾十年新高。截止收盘，沪指涨 1.09%，收报4165.29点；深证成指涨1.75%，收报14366.91点；创业板指涨1.82%，收 报3388.34点。 沪深京三市成交额达到36450亿，较上一交易日大幅放量近5000亿，创A股 历史最大成交量。 总体来看，当前中小盘股的炒作已进入自我强化的氛围，呈现出 "人有多大胆，地有多大产" 的短期特征。但需要警惕的是，短期风险正在上涨过程中持续集聚，尽 ...

Core Viewpoint - The A-share market experienced a significant surge on January 12, 2026, driven by the NFC (Near Field Communication) industry chain, particularly highlighted by Alipay's "Tap" feature, which has transformed a dormant mobile function into a vital connection between the physical and digital worlds, reshaping the value of the entire NFC industry chain [1] Group 1: Company Performance - Lens Technology (300433.SZ) saw its stock price rise by 10% to 42.66 yuan, with a trading volume of 12 billion yuan, indicating high market activity [2] - Lens Technology is a key supplier for Alipay's "Tap" feature, with its stock increasing by 147% since the feature's announcement on July 8, 2024 [2] - The expansion of the "Tap" feature into various high-frequency applications has opened a "second growth curve" for Lens Technology beyond consumer electronics [3] Group 2: Chip Industry Insights - Fudan Microelectronics (688385.SH) is positioned as a leading domestic chip design company, providing essential NFC and security chips for the "Tap" feature, which contributed to its stock price increasing by 9.84% to 98 yuan [4] - Since the announcement of Alipay's "Tap," Fudan Microelectronics has seen its stock rise by over 220%, highlighting the critical role of NFC chips in the user experience [5] - Institutional investors are actively investing in Fudan Microelectronics, reflecting confidence in the company's value within the NFC ecosystem amid a focus on technological self-sufficiency and supply chain security [5] Group 3: 3D Vision Technology - Orbbec (688322.SH) represents the 3D vision sector, with its long-term stock performance reflecting market optimism about future interaction methods [6] - The "Tap" feature signifies a near-field interaction solution, while 3D vision technology is seen as central to spatial interaction, suggesting a convergence of various interaction modalities in future smart devices [6] - The market is positioning companies like Orbbec as integral to the upcoming AI hardware ecosystem, with applications in robotics, the metaverse, and AIoT [7]

1月12日，科创人工智能ETF国泰（589110）涨超6%，AI硬件需求强劲。 （文章来源：每日经济新闻） 科创人工智能ETF国泰（589110）跟踪的是科创AI指数（950180），单日涨跌幅限制达20%，该指数从 科创板市场中筛选出30家业务涵盖人工智能基础资源、核心技术研发及行业应用落地的上市公司证券作 为指数样本，集中反映科创板人工智能领域企业的整体表现。 开源证券指出，电子和半导体行业当前处于全球科技大周期的共振中，AI硬件需求强劲，通信设备 （如光通信）受益于AI算力扩张、数据中心扩容及智能汽车电子化升级等多重因素，呈现类似2019- 2020年5G基站建设带动的结构性需求提升。半导体行业自2023年一季度启动的上行周期已持续超过9个 季度，由GPU和生成式AI驱动，其时间和强度均超越以往消费电子带动的周期。尽管高基数效应可能 导致增速趋缓，但行业拐点尚未显现，盈利增速边际变化（ΔG）仍未见显著疲软，AI硬件有望在估值 牛市中延续强势。同时，AI应用端在政策、需求、生态和资本四重共振下加速商业化，从算力基建转 向场景兑现，展现出独立于海外市场的韧性。整体来看，科技板块在流动性宽松、政策支持及产业高 ...

Core Viewpoint - The article emphasizes that AI has transitioned from being a mere functional plugin to a fundamental system capability, marking a significant shift in the hardware innovation landscape as large models become the default capability in smart devices [2][9]. Group 1: AI Hardware Landscape - The AI hardware landscape is witnessing a resurgence, with over 200 mainstream hardware manufacturers participating in events like the Alibaba Cloud Tongyi Intelligent Hardware Expo and CES, showcasing a variety of AI applications [3][4]. - The integration of large models, such as Qianwen, into over 1,000 smart devices across 76 categories indicates a strong industry signal that AI is moving beyond screens into the physical world [4][12]. Group 2: Historical Challenges - The AI hardware sector has faced significant challenges over the past decade, including uncontrollable model capabilities, difficult commercial logic, and high engineering complexity, which have hindered the successful implementation of AI in hardware [8][9]. Group 3: Turning Point in AI Hardware - Recent exhibitions signal a turning point for AI hardware, shifting the focus from showcasing model capabilities to system engineering, indicating that AI is now a reliable and efficient foundational capability [9][10]. - Alibaba Cloud's development of a multimodal interaction development kit allows manufacturers to integrate core model capabilities with various interaction technologies, significantly lowering the barriers for hardware selection and adaptation [10][11]. Group 4: Qianwen as a Universal Foundation - Qianwen has emerged as a universal foundation for AI hardware, with Alibaba Cloud collaborating with all AI hardware categories, indicating a shift from single-function AI to comprehensive system capabilities [14][15]. - The comprehensive AI capabilities provided by Qianwen address key pain points in AI hardware implementation, creating a complete ecosystem from models to tools and platforms [16][21]. Group 5: Market Impact and Future Outlook - The AI hardware market in China has surpassed 1.1 trillion yuan, marking a transition from conceptual exploration to large-scale implementation [12]. - The integration of over 1,000 smart devices with Qianwen signifies a clear signal that AI is deeply connecting with the physical world, transforming hardware into intelligent systems that continuously learn and evolve [23][24].

Core Insights - Lenovo's exploration in wearable devices and next-generation AI hardware is highlighted during CES 2026, with a focus on the potential of these technologies [1][3] - The company introduced a proof of concept product named Maxwell, developed by the Motorola team, which is designed to capture user experiences and operate in conjunction with cloud systems [1][3] - Luca Rossi emphasized that Maxwell is not the only direction for Lenovo in AI hardware, but rather one of many exploratory paths [1][3] Summary by Categories Wearable Devices - Lenovo sees significant potential in the wearable device category, with Maxwell being positioned to perform "perception" tasks by capturing what users see and hear [1][3] - The company plans to continue exploring various forms of smart devices, including both wearable and "environmental" AI systems deployed in everyday settings like rooms and kitchens [1][3] AI Hardware Development - The direction of AI hardware development is viewed as the next frontier in AI evolution, with Lenovo making long-term investments in relevant technologies and ecosystems [2][4] - System-level evolution in this area is acknowledged to require time, with Lenovo planning to announce further advancements when conditions are ripe [2][4] Data and User Experience - Future devices will generate a wealth of data points through continuous perception of video, audio, and various events, contributing to a more complete and seamless intelligent experience [4]