记者丨 骆轶琪 编辑丨骆一帆 2025年末，一款豆包手机助手的面市，在手机圈掀起巨大波澜。 因其具备自主跨应用操作能力，而不仅仅是对手机内生系统应用发起指令，而被众多用户称为 搭载该助手的是 "一款真正意义上的AI手机" 。 但很快，豆包手机助手在多个应用中的使用受阻。12月5日，"豆包手机助手"账号发布《调整 AI操作手机能力的说明》。 这倒像是按下一个开关。 随后，12月9日，智谱官宣将一年前已经发布的闭源AI Agent模型 AutoGLM全面开源；12月17日，阶跃星辰宣布GUI Agent全面升级，最短部署十分钟可拥 有"AI手机"。 虽然基于这些开源模型，普通消费者自己"手搓"一个AI手机还存在技术门槛，但这显示出大模 型厂商的开放态度。 多名行业人士对21世纪经济报道记者分析，豆包手机助手所面临的， 本质上是AI手机普遍面 临的挑战。 虽然底层技术在逐渐完善，但更核心的分歧在于权责划分， 也即国内在用户隐私 和数据权限边界方面存在标准空白 ，亟待手机、大模型、软件等多方参与者共同推进。 这也揭开了AI手机技术演进的另一面。 当然，随着国内开源大模型性能迅速提升，AI手机的迭代发展有了更为坚实的土 ...

以下文章来源于硬氪 ，作者欧雪 硬氪 . 专注全球化、硬科技报道。36kr旗下官方账号。 AI设备融入生活的另一种路径。 文 ｜ 欧雪 编辑 ｜ 袁斯来 来源｜ 硬氪（ID：south-36kr） 封面来源 ｜ 企业供图 看上去， 1 0 年前， 手机行业就对创业公司关上了大门。 但 2 025 年， 一家 来自香港 、毫无名气的公司 ， 做了款 A I 手机， 在 kickstarter 上 众筹 突破 1150 万港元 。 它没有主流手机的大屏幕设计，反而采用了一块 4.02 英寸的正方形 AMOLED 显示屏，整体尺寸仅相当于传统手机的一半。此外，它的摄像头可以实现前 后翻转，还能安装全键盘保护壳。 显然，这是一款 轻 配置、 重巧思的产品。 IKKO 的切入点， 很符合当下的时代潮流 —— 从做通用 品 转向挖掘利基用户 。 一些营销触觉敏锐的年轻团队，反而 在 点状爆发。 在手机行业， A I 虽然 是 智能手机的标配 ，但并没有坚实的落地场景 。用户 能 体验 的 无非是语音助手、录音整理等 功能 。 行业 早期 ，大厂也没能 建立起某种行业规则。 这也是创业公司的机会。他们并不需要发布什么 惊动 ...

Core Insights - The launch of the Doubao mobile assistant in late 2025 has created significant waves in the smartphone industry, being recognized by users as a "truly AI phone" due to its autonomous cross-application operation capabilities [1][5] - However, the Doubao mobile assistant faced usage restrictions in multiple applications, leading to an official statement on December 5 regarding adjustments to its AI operation capabilities [1][3] - The challenges faced by Doubao reflect broader issues in the AI phone sector, particularly concerning user privacy and data rights, which require collaborative efforts from various stakeholders [3][7] Group 1: Technology and Development - The rapid improvement of domestic open-source large models has provided a solid foundation for the iterative development of AI phones, shifting focus from cloud-based models to offline capabilities [4][13] - The announcement of the open-sourcing of the AutoGLM model by Zhiyu on December 9 signifies a move towards "technological equality" in the mobile agent space, potentially lowering development barriers [3][12] - The evolution of AI phones is not just about technological advancements but also involves a complex interplay of patience, restraint, and ecosystem collaboration [4][17] Group 2: Market Dynamics and Competition - The Doubao mobile assistant's features are not significantly different from previously demonstrated smart applications by other manufacturers, indicating that the market is still in the early stages of realizing cross-application autonomous capabilities [5][6] - The competition in the AI phone market is fundamentally about ecosystem development, requiring a shift from traditional app models to a more integrated approach that allows for cross-application automation [17][21] - The emergence of AI agents is seen as a potential battleground for user engagement and control over data, with manufacturers needing to navigate the complexities of user habits and regulatory compliance [8][17] Group 3: Industry Challenges - The current landscape reveals a "standard vacuum" regarding user authorization and data rights, complicating the implementation of AI agents that require cross-application functionality [7][18] - The transition to AI agents necessitates a reevaluation of existing operational models, as traditional single-operation authorization methods are inadequate for the demands of AI-driven tasks [7][18] - The industry faces challenges related to memory and power consumption as the capabilities of end-side models expand, necessitating advancements in hardware to support these new demands [18][20] Group 4: Future Outlook - The AI phone competition is evolving from a focus on hardware specifications to a comprehensive race involving end-side capabilities, ecosystem openness, and user experience [21][22] - The integration of AI capabilities into hardware is expected to reshape traditional consumer electronics business models, moving towards subscription-based software services [20][22] - The developments surrounding the Doubao mobile assistant highlight the need for industry-wide collaboration to address the challenges of rights, interests, and standards in the evolving AI landscape [20][22]

资金流向方面，主力资金净流出357.68万元，特大单买入823.65万元，占比7.80%，卖出1853.56万元， 占比17.54%；大单买入3236.14万元，占比30.63%，卖出2563.91万元，占比24.27%。 智动力今年以来股价涨76.17%，近5个交易日涨3.01%，近20日跌2.29%，近60日跌4.47%。 12月26日，智动力（维权）盘中上涨2.06%，截至13:08，报15.38元/股，成交1.06亿元，换手率4.11%， 总市值40.08亿元。 机构持仓方面，截止2025年9月30日，智动力十大流通股东中，大成中证360互联网+指数A（002236） 退出十大流通股东之列。 责任编辑：小浪快报 智动力所属申万行业为：电子-消费电子-消费电子零部件及组装。所属概念板块包括：AI手机、小盘、 智能穿戴、固态电池、QFII持股等。 截至12月19日，智动力股东户数1.72万，较上期减少7.04%；人均流通股9848股，较上期增加7.57%。 2025年1月-9月，智动力实现营业收入11.97亿元，同比增长6.03%；归母净利润-6445.38万元，同比增长 19.96%。 分红方面，智动力 ...

Core Insights - The emergence of AI smartphones, particularly the Doubao AI phone, signifies a pivotal moment in the tech industry, merging AI capabilities with mobile technology [1][4] - The introduction of AI models into smartphones aims to enhance user interaction and streamline tasks, but raises significant concerns regarding privacy and security [5][7] Group 1: AI Smartphone Development - The Doubao AI phone represents a significant leap in integrating AI into mobile devices, allowing users to perform complex tasks through simple voice commands [1][4] - The AI smartphone addresses long-standing issues in the AI industry, such as the challenge of practical application in everyday technology [4] - The release of the Doubao AI phone has sparked a competitive response from major applications, indicating its disruptive potential in the market [1] Group 2: Privacy and Security Concerns - The Doubao AI phone's operation requires extensive permissions, raising alarms about user privacy and potential misuse of sensitive information [5][7] - The blurring of responsibility between AI and users poses legal challenges, particularly in cases of errors or misuse, as current laws do not recognize AI as a legal entity [7] - The concentration of user data within a single tech giant could undermine existing data governance frameworks, challenging principles of data minimization and regulatory boundaries [7] Group 3: Industry Reactions and Strategies - Major tech companies like Apple and Google are adopting a cautious approach, prioritizing privacy and ethical considerations over aggressive AI integration [8][10] - Apple's strategy focuses on private computing, ensuring that AI does not access third-party app data without explicit consent, reflecting a commitment to user privacy [8][10] - The contrasting approaches between aggressive newcomers and established giants highlight the ongoing tension between innovation and ethical responsibility in the tech industry [11][12]

中金公司研报指出，厦钨新能为正极材料龙头，新型正极和固态材料放量可期。伴随政策端拉动国内消 费电子需求，技术端AI 手机放量等驱动更新换代以及带电量提升，该行预计消费电池需求稳步增长、 同时高电压需求提升。公司为钴酸锂全球龙头、市场份额超过50%。公司积极布局前沿技术，新型正极 和固态材料放量可期。首次覆盖厦钨新能，给予"跑赢大市"评级，目标价85.00元、对应18%上行空间。 ...

中金公司研报指出，厦钨新能为正极材料龙头，新型正极和固态材料放量可期。伴随政策端拉动国内消 费电子需求，技术端AI 手机放量等驱动更新换代以及带电量提升，该行预计消费电池需求稳步增长、 同时高电压需求提升。公司为钴酸锂全球龙头、市场份额超过50%。公司积极布局前沿技术，新型正极 和固态材料放量可期。首次覆盖厦钨新能，给予"跑赢行业"评级，目标价85.00元、对应18%上行空间。 ...

Core Insights - The collaboration between ZTE and ByteDance on the "Doubao Phone" is seen as a significant move towards integrating AI capabilities into mobile technology, raising questions about the depth of their partnership and its potential to set a new industry standard [2][6] Group 1: Strategic Collaboration - ZTE's choice to partner with ByteDance is driven by a shared vision of AI phones as a future trend, emphasizing that "openness is key to innovation" [2][6] - The collaboration aims to leverage complementary strengths, with ZTE's Nubia brand having nearly a decade of experience in AI technology and ByteDance providing advanced AI models and cross-application execution capabilities [2][6] Group 2: Industry Trends and Open Innovation - The partnership aligns with industry trends, as seen in examples like iPhone with ChatGPT and Samsung with Gemini, indicating that closed innovation is becoming less viable in the AI era [3][7] - ZTE is committed to an "open innovation" philosophy, which is central to its "AI for All" strategy, and is currently in discussions with other large model manufacturers [3][7] Group 3: Integration of AI Models - Large models will be integrated as foundational intelligence capabilities across ZTE's product matrix, including 5G base stations and data centers, enhancing both network and personal business applications [8] - ZTE's "AI Together" concept aims to create a seamless AI experience across devices, focusing on practical applications rather than merely increasing model parameters [8] Group 4: Differentiation and User Experience - The integration of AI functionalities, such as the Doubao phone assistant, is expected to be a key differentiator for ZTE, enhancing the synergy between AI capabilities and hardware design [4][8] - Data security and privacy are emphasized as fundamental principles in the collaboration with ByteDance, ensuring that the implementation of AI is safe and beneficial for users [4][8]

沪指涨0.24%，深成指涨0.31%，创业板指涨0.08%。商业航天概念股反复活跃，算力硬件、AI手机、智 能交通、芯片、核聚变题材走强；煤炭、保险、黄金板块调整。 沪指涨0.24%，深成指涨0.31%，创业板指涨0.08%。商业航天概念股反复活跃，算力硬件、AI手机、智 能交通、芯片、核聚变题材走强；煤炭、保险、黄金板块调整。 ...

Market Overview - The Shanghai Composite Index rose by 0.24% and the ChiNext Index increased by 0.08% [1] - Commercial aerospace concept stocks showed active trading, with strength in sectors such as computing hardware, AI smartphones, smart transportation, chips, and nuclear fusion [1] - Coal, insurance, and gold sectors experienced adjustments [1] ETF Performance - The Hong Kong stock market was closed in the afternoon, with mini-sized Hong Kong stock ETFs leading in gains [1] - The Cathay Pacific Hong Kong Stock Connect 50 ETF, GF Fund Hang Seng ETF, and E Fund Hong Kong Stock Connect 100 ETF rose by 8.8%, 5.91%, and 5.75% respectively, with latest premium/discount rates of 9.13%, 5.97%, and 6.84% [1] - The commercial aerospace sector rebounded from previous declines, with the招商基金 satellite industry ETF, GF satellite ETF, and Yongying Fund satellite ETF all increasing by over 4% [1] Sector Performance - The agriculture sector declined, with the E Fund agriculture ETF and livestock ETF both falling by 1.2% [1] - The gaming sector weakened, with the gaming ETF and Huatai-PB gaming ETF both down by 1.2% [1]