Core Insights - Huawei officially launched the new HarmonyOS 6 on October 22, targeting over 90 device models for large-scale public testing, marking a new phase of "deep co-construction and joint innovation" with ecosystem partners [1] - The HarmonyOS ecosystem is evolving towards AI, with over 80 Harmony applications' intelligent agents launched, enhancing the smart living experience [9] Group 1: New Features and Innovations - HarmonyOS 6 introduces multiple new features, with over 23 million devices running HarmonyOS 5, and many ecosystem partners launching new applications and functionalities [3] - Tencent applications are debuting new features on HarmonyOS 6, including a new live streaming function for Tencent News and a "real-time traffic light countdown" feature for Tencent Maps [3] - JD.com launched a high-precision AR feature allowing users to virtually place large items in their real home environment, enhancing the shopping experience [3] - The system supports over 60 applications for the "tap to share" feature, enabling seamless content sharing between devices [4][5] Group 2: Security and Performance Enhancements - HarmonyOS 6 features an upgraded Star Shield security architecture, providing intelligent proactive security protection, including AI privacy protection and end-to-end encrypted sharing [5] - The system achieves significant performance improvements, with application launch speeds increased by 20% and a 5x faster startup for over 15 popular games [6] Group 3: AI Integration and Ecosystem Development - The HarmonyOS experience is advancing towards AI, with over 80 intelligent agents launched, covering various sectors such as education, healthcare, and entertainment [9] - Major applications like WeChat and QQ have completed full development and continuous updates, enhancing user experience across the ecosystem [12] Group 4: Future Outlook - Huawei aims to continue collaborating with ecosystem partners and developers to enhance the HarmonyOS ecosystem, emphasizing user feedback as a crucial element for ongoing evolution [13]

Core Insights - Huawei is set to officially launch HarmonyOS 6 on October 22, marking a return to conventional naming after previous versions like "HarmonyOS NEXT" [1] - The new operating system aims to enhance cross-device collaboration, intelligence, security, and performance [1][3] Group 1: HarmonyOS 6 Features - HarmonyOS 6 will enable data transfer between Huawei devices and Apple devices during device switching, differing from other manufacturers' proposals for ecosystem compatibility [1] - The upgrade focuses on cross-device collaboration, with features like "tap to share" allowing users to easily transfer content between devices [1][3] - The introduction of the HarmonyOS Intelligent Agent Framework (HMAF) will enhance the capabilities of smart agents, enabling them to assist users in complex tasks [3] Group 2: Performance and User Experience - Performance improvements are expected through optimizations in the Ark Engine and HarmonyOS kernel, leading to faster application launch and loading times [4] - The user interface will see changes, including a vertical volume and brightness adjustment bar for better usability [4] - Developers will gain access to new foundational capabilities, reducing the barriers for app development [4] Group 3: Ecosystem Development - Despite over 30,000 applications and services developed for HarmonyOS, the ecosystem still falls short of the 100,000 applications benchmark for maturity [6] - Huawei plans to invest 150 billion RMB annually over the next five years to support ecosystem development, alongside significant resources for open-source community support [6] - The upcoming Mate80 series smartphones are expected to feature the new HarmonyOS 6 and will include various models targeting different user preferences [6] Group 4: Market Context - In Q3, the smartphone market in mainland China saw a 3% year-on-year decline, with Huawei ranking second in shipments at 10.5 million units, a 3% decrease [7] - Vivo led the market with 11.8 million units shipped, while Apple was the only brand among the top five to see growth [7] - The success of HarmonyOS 6 and the Mate80 series will be crucial for Huawei in building a robust ecosystem amidst intense competition [7]

Core Insights - Huawei's HarmonyOS 6 is set to be officially released on October 22, showcasing a new all-scenario interconnection architecture and upgrades to features like Star Flash connectivity and Xiao Yi [1] - The upcoming "Harmony Star Light Festival" on November 28 will highlight China's technological innovations [1] - Institutions are optimistic about the growth prospects of the HarmonyOS ecosystem, driven by increased market share in smart vehicles, advancements in the Harmony ecosystem, and significant technological leaps with HarmonyOS 6 [1] Group 1: Market Performance - HarmonyOS smart vehicle sales have shown impressive performance, with 41,300 units pre-ordered during the National Day holiday (up 44% year-on-year) and 52,900 units delivered in September, establishing a strong foundation for Q4 growth [4] - The high-end market advantage remains solid, with models like the Zun Jie S800 and AITO M9/M8 leading their segments, and plans to expand the product matrix by 2026 to cover the market below 200,000 [4] - The Ministry of Industry and Information Technology plans to implement strong standards for intelligent driving by 2027, with Huawei's leading capabilities in this area translating into market advantages for HarmonyOS vehicles [4] Group 2: Ecosystem Development - The Harmony ecosystem is advancing, with major internet applications fully adapted to Harmony and a growing number of mid-tail applications accelerating integration, leading to over 1 billion activated devices globally [5] - The Chinese operating system market is projected to reach 21.75 billion yuan in 2024, a 13.8% increase from the previous year, with expectations to reach 25 billion yuan in 2025 [5] Group 3: Technological Advancements - HarmonyOS 6 represents a significant technological leap, with a 30% improvement in system smoothness, 1.5GB reduction in memory usage, and nearly one hour of additional battery life [7] - The introduction of the Harmony intelligent agent framework allows developers to leverage edge AI computing for low-latency applications, enhancing the capabilities of intelligent agents [7] - The ecosystem now includes over 1.19 billion devices running HarmonyOS, with more than 7.2 million developers and over 50 pioneering intelligent agents in development [7] Group 4: Future Outlook - The maturity of the Harmony ecosystem and the launch of new products are expected to strengthen Huawei's leadership position in the global smart transformation [8] - Continuous attention is warranted on the commercialization of HarmonyOS for PCs, the AI computing industry chain, and the progress of vertical industry applications [8]

Core Insights - The upcoming live event "Harmony Starry Night" on November 28 is a significant showcase of China's technological strength, emphasizing the collaborative effort in building the HarmonyOS ecosystem [1][6] - The event's theme "Together" reflects the unity and collective responsibility of various industry partners in advancing the Harmony ecosystem, moving beyond the efforts of a single company [4][6] Summary by Sections - **Event Announcement** - The event is officially announced by CCTV News, generating positive responses from multiple Harmony ecosystem partners, indicating a celebration within the Chinese tech community [1] - **Event Theme and Design** - The event will feature a design that incorporates elements like curved spheres and water scenery, symbolizing the comprehensive nature of HarmonyOS and its commitment to enhancing user experience [4] - **Industry Collaboration** - The event signifies a collective direction for the industry, showcasing the growing vitality of the Harmony ecosystem and the achievements made through collaboration among various partners [6] - **Ecosystem Growth** - As of now, the number of HarmonyOS 5 terminal devices has surpassed 20 million, with over 60 products equipped with HarmonyOS 5, demonstrating the scale effects of ecosystem development [8] - Major applications are rapidly adapting to the platform, with features like Douyin's local and group purchase modules and WeChat's new functionalities being introduced [8] - **User Experience Focus** - There is a consensus among ecosystem partners on the importance of user experience, with many launching innovative features on the Harmony platform first, such as the HDR Vivid support on Weibo and the naked-eye 3D technology on JD [10] - The continuous optimization of user experience is a result of collaborative efforts, highlighting the trust and support from users that drive the ecosystem's progress [10] - **Future Outlook** - The "Harmony Starry Night" event serves as a warm reflection on the journey shared by Harmony and its partners, showcasing how individual contributions have collectively fostered a thriving tech ecosystem [10]

Industry News - The Ministry of Finance and other three departments announced a 50% immediate VAT refund policy for electricity products generated from offshore wind power, effective from November 1, 2025, to December 31, 2027 [4] - A new round of interest rate cuts has begun among small and medium-sized banks, with expectations for further reductions in the fourth quarter, potentially including a 10 basis point cut [4] - The China Securities Regulatory Commission (CSRC) released new corporate governance guidelines for listed companies, effective January 1, 2026, aimed at regulating the behavior of controlling shareholders and enhancing transparency [3] Company News - Silan Microelectronics announced plans to invest 20 billion yuan in a joint project to build a 12-inch high-end analog integrated circuit chip manufacturing line [8] - Zijin Mining reported a 55% year-on-year increase in net profit attributable to shareholders for the first three quarters [8] - Hanwei Technology plans to acquire equity in Chongqing Stabao and include it in its consolidated financial statements, with Stabao set to produce the first domestic production line for 10 million thin-film platinum resistance temperature sensors annually [8] - China Life Insurance expects a 50%-70% year-on-year increase in net profit for the first three quarters [10]

Core Insights - Huawei's wearable devices are performing well in overseas markets despite restrictions on its smartphones due to the Google ecosystem [1][3][8] - The company aims to leverage the high demand for smart wearables in Taiwan, expecting a 40% increase in sales volume and a 60% increase in revenue for its wearable products this year [1][3] Group 1: Market Performance - Huawei has maintained its position as the global leader in the wearable market, with a 20.2% market share and 990 million units shipped in Q2 2023, reflecting an 11.7% year-on-year growth [3][4] - In Taiwan, Huawei's wearable products are expected to see significant growth, with sales volume projected to increase by 40% and revenue by 60% following the introduction of the WATCH GT 6 series [1][3] Group 2: Competitive Landscape - Xiaomi has also shown strong performance in the wearable market, achieving an 18.9% market share with 9.5 million units shipped in Q2 2023, a 61% increase year-on-year [4][6] - Huawei's wearable devices are less dependent on the Google ecosystem compared to its smartphones, allowing for greater flexibility and market penetration [3][8] Group 3: Strategic Focus - Huawei is focusing on building a high-end brand image in overseas markets while enhancing product compatibility with both iOS and Android systems [2][3] - The company emphasizes the independent value of its wearable products, positioning them as essential health and fitness monitoring devices rather than mere accessories to smartphones [8] Group 4: Market Trends - The global wearable market is projected to reach a value of $36.6 billion in 2024, with expectations to surpass $40 billion by the end of 2025 [8] - The smart watch segment, while only accounting for 32% of total shipments, is expected to represent 69% of the market value, highlighting the importance of encouraging consumers to upgrade their devices [8]

Core Insights - The event "HDD·Hongmeng Geek Salon·Entering Huawei" showcased Huawei's strong technical support capabilities and commitment to building the Hongmeng ecosystem, emphasizing efficient development, technical practice, and cultural strategy [1][9] - The salon featured a comprehensive approach, including expert sharing, developer case studies, interactive sessions, and a tour of Huawei's R&D center, illustrating a vision of co-prosperity between the Hongmeng ecosystem and developers [1][10] Developer Empowerment - Huawei experts introduced the full lifecycle services provided by HarmonyOS, including nearly a hundred open Kits and comprehensive cloud services across development, distribution, operation, and analysis [3] - The "Cloud Foundation Kit" (CFK) addresses common backend maintenance challenges, enabling front-end developers to become "full-stack engineers" and significantly enhancing development efficiency [3] - The "preloading" service aims to improve user experience by eliminating the "white screen" issue when applications are first opened [3] Application Distribution - The system-level deep linking service "App Linking" allows applications to achieve direct access, enhancing distribution efficiency and user experience [4] - Huawei has launched over 50 industry development templates and more than 300 development components, which can save developers approximately 50%-70% of their workload [4] Developer Case Studies - Developer Zhang Yue shared his experience in creating the "Zhenlv" legal service application within the Hongmeng ecosystem, highlighting the platform's potential and supportive environment for individual developers [6] - Developer Zhou Xin discussed how the "Jianxun" app improved user engagement through Hongmeng's distributed capabilities, allowing seamless transitions between devices [7] Cultural and Strategic Insights - The salon conveyed a clear message that embracing Hongmeng is a trend and a source of value, representing a new paradigm for the interconnected era [9] - Huawei is committed to creating a developer-friendly ecosystem, providing extensive services, documentation, and AI model support to lower development barriers and enhance efficiency [9] Conclusion - The event demonstrated Huawei's sincerity and determination to build the Hongmeng ecosystem in collaboration with developers, suggesting a vibrant future filled with possibilities as more developers join [11]

Core Viewpoint - JiuLian Technology (688609.SH) plans to raise up to 181.77 million yuan through a simplified procedure for a private placement of shares, with the funds allocated for the development of Harmony ecosystem smart terminals and communication modules, as well as for replenishing working capital and repaying bank loans [1][2]. Summary by Relevant Sections Fundraising Details - The total amount to be raised is capped at 181.77 million yuan, with net proceeds after issuance costs intended for specific projects [1][2]. - The projects include: - Harmony ecosystem smart terminal and communication module R&D and industrialization project with a total investment of 150.57 million yuan, using 127.24 million yuan from the raised funds - Replenishing working capital and repaying bank loans with a total investment of 54.53 million yuan, using the full amount of 54.53 million yuan from the raised funds [2]. Issuance Methodology - The shares will be issued as domestic listed ordinary shares (A-shares) with a par value of 1.00 yuan per share, and the issuance will be completed within ten working days after the China Securities Regulatory Commission's registration decision [2][3]. - The pricing benchmark for the issuance is set at no less than 80% of the average trading price over the 20 trading days prior to the pricing date [3]. Shareholder Structure and Control - The issuance will not exceed 30% of the company's total share capital before the issuance, and the dilution effect on existing shareholders is limited, ensuring no change in control of the company [4]. - The major shareholders, Zhan Qijun and Lin Rong, hold a combined 20.50% of the total share capital, maintaining significant control [3][4]. Financial Performance - JiuLian Technology has reported losses for two and a half years, with a revenue of 2.508 billion yuan in 2024, a year-on-year increase of 15.54%, but a net loss of 142 million yuan [4][5]. - In the first half of 2025, the company experienced a revenue decline of 17.60%, with a net loss of 123 million yuan [5].

Core Viewpoint - Jiulian Technology (688609.SH) plans to raise up to 181.77 million yuan through a simplified procedure for a private placement of shares, with the funds allocated for the development of Harmony ecosystem smart terminals and communication modules, as well as for replenishing working capital and repaying bank loans [1][2]. Fundraising Details - The total investment for the Harmony ecosystem smart terminal and communication module project is 150.57 million yuan, with 127.24 million yuan expected to be funded from the raised capital [2]. - The remaining 54.53 million yuan will be used for replenishing working capital and repaying bank loans [2]. - The total amount of funds raised will not exceed 181.77 million yuan, and the total investment for all projects is 205.10 million yuan [2]. Share Issuance Information - The shares will be issued as domestic listed ordinary shares (A-shares) with a par value of 1.00 yuan each [2]. - The issuance will be completed within ten working days after the China Securities Regulatory Commission (CSRC) registers the decision [2]. - The pricing benchmark for the issuance is set at 80% of the average trading price over the last 20 trading days prior to the issuance date [3]. Shareholder Structure and Control - The issuance will not exceed 30% of the company's total share capital before the issuance, and the dilution effect on existing shareholders will be limited [4]. - The company has been operating at a loss for two and a half years, with a net profit attributable to shareholders of -142 million yuan in 2024, an improvement from -199 million yuan in the previous year [4]. - The major shareholders, Zhan Qijun and Lin Rong, hold a combined 20.50% of the company's total shares, ensuring that control remains unchanged post-issuance [3][4]. Historical Context - Jiulian Technology was listed on the Shanghai Stock Exchange's Sci-Tech Innovation Board on March 23, 2021, with an initial issuance of 100 million shares at a price of 3.99 yuan per share [5]. - The company raised a total of 399 million yuan during its IPO, with net proceeds of 345 million yuan allocated for various projects including the expansion of home network communication terminal equipment [5].

Core Viewpoint - The company is transitioning from a manufacturer of intercom systems to a provider of integrated smart solutions for communities, homes, and hospitals, leveraging AI and IoT technologies to create a comprehensive smart ecosystem [1][2]. Group 1: Business Evolution - The company has evolved from focusing solely on intercom systems to offering a range of products including smart homes, smart hospitals, and health technology solutions, reflecting the broader trend in China's smart infrastructure development [2][3]. - The product structure now includes intercom systems, smart home devices, and smart hospital solutions, with a focus on health technology and integration into the Hongmeng ecosystem [2][4]. Group 2: Market Position and Achievements - The company ranks 22nd in the global security market according to A&S, with products exported to over 90 countries, particularly excelling in emerging markets like Southeast Asia and the Middle East [3][4]. - It has been recognized as a top supplier in the building supply chain for 13 consecutive years, maintaining a leading market share in intercom systems [2][3]. Group 3: AI Integration and Future Directions - AI is identified as the core engine driving the company's business, with plans to integrate AI into smart community, home, and hospital solutions to enhance user experience and operational efficiency [5][6]. - The company is exploring AI applications in elderly care and community hospitals, aiming to facilitate data sharing and proactive health monitoring [5][6]. Group 4: Challenges and Solutions - The company faces challenges in AI implementation, including technical adaptability, data privacy compliance, and user acceptance [7][8]. - To address these challenges, the company collaborates with AI firms, employs a data-sharing framework that protects privacy, and adopts a subscription-based service model to lower initial costs for clients [8].