Core Insights - The HarmonyOS public class held by Huawei emphasizes the importance of youth in driving innovation and growth within the Harmony ecosystem [1][7] - Over 200 young students participated in the immersive experience, showcasing the vibrant innovation pulse of the Harmony ecosystem [1][7] Group 1: HarmonyOS Ecosystem Development - Huawei experts highlighted the robust development and vast potential of the Harmony ecosystem, with over 9,000 applications contributing to more than 70 innovative experiences [3][5] - HarmonyOS serves as a solid digital foundation across various industries, fostering extensive co-innovation in the operating system and application ecosystem [3][5] Group 2: AI and Creative Transformation - The integration of AI and full-scene capabilities in HarmonyOS is reshaping video creation experiences, as demonstrated by Tim, a well-known tech influencer [3][5] - Features like "碰一碰" (Tap to Connect) and "手眼同行" (Hand-Eye Coordination) enable seamless and efficient creative processes across devices [3][5] Group 3: Talent Development and Opportunities - Huawei's "Harmony Star Plan" aims to cultivate young talent, investing 100 million yuan in cash and resources to support campus developers and creative individuals [7] - The initiative is designed to ignite innovation and enthusiasm among youth, contributing to the rapid development of the Harmony ecosystem [7] Group 4: Interactive Experience and Partnerships - The public class featured an interactive experience area showcasing the innovative vitality of the Harmony ecosystem, with participation from ten ecological partners [5][6] - Partners like Bilibili, Didi, and China National Aviation provided unique offerings and benefits based on HarmonyOS features, enhancing user engagement [6]

Core Viewpoint - The company is exploring the potential of eSIM technology to enhance device design, management efficiency, and security, which may accelerate the Internet of Things (IoT) development [1] Company Summary - The company has not yet established a business related to eSIM technology but is committed to monitoring developments in this area [1] - The company plans to explore related services in IoT connectivity management [1]

Group 1 - The overall market for smart cockpit is showing a trend of concentration among leading players and the rise of local companies, with various technologies such as cockpit domain control, HUD, AR-HUD, central control screens, and voice functions driving competition and growth [1] - The Hongzhi intelligent automotive operating system, launched by Chengmai Technology's subsidiary Zhida Chengyuan, represents a significant solution in the wave of innovation, providing a domestic path for the "software-defined vehicle" era [1] - The core of the Hongzhi system is a deep customization and innovative integration of OpenHarmony 5.0, showcasing excellent adaptability to mainstream domestic chip platforms, thus offering a fully controllable, high-performance, and secure domestic solution [1][2] Group 2 - The system utilizes distributed soft bus technology to break down barriers between devices, enabling seamless collaboration with the Harmony ecosystem, enhancing user experience through smart interconnectivity [2] - Zhida Chengyuan's new generation cockpit AI interaction solution, based on Qualcomm chips, integrates advanced local models for precise understanding of complex semantics, improving user interaction in various high-frequency scenarios [2] - As the demand for intelligent features in vehicles increases, the smart cockpit operating system is expected to evolve continuously, with projections indicating that sales of new energy smart electric vehicles in China will reach 23 million by 2030 [3] Group 3 - Chengmai Technology and Zhida Chengyuan aim to continue focusing on industry needs and technological innovation to create smarter and safer cockpit experiences, injecting innovative vitality into the automotive industry [3]

北纬科技（002148.SZ）8月12日在投资者互动平台表示，eSIM卡通过优化设备设计、提升管理效率和 安全性，有望加速万物互联进程。公司目前暂未布局eSIM相关业务，将持续关注并在物联网连接管理 服务方面开展相关探索。 （文章来源：每日经济新闻） 每经AI快讯，有投资者在投资者互动平台提问：贵公司是否和三大移动通信运营商开展eSIM业务合 作？ ...

Group 1: Market Performance - The CSI Intelligent Electric Vehicle Index increased by 1.9% [1] - The CSI Consumer Electronics Theme Index rose by 1.8% [1] - The CSI Internet of Things Theme Index saw a rise of 1.7% [1] - The National Robot Industry Index grew by 1.5% [1] - The robot ETF E Fund (159530) recorded a net subscription of 67 million units in half a day [1] Group 2: ETF Focus Areas - The Robot ETF tracks the National Robot Industry Index, focusing on the robot industry, including core components and humanoid robots, which account for nearly 80% [3] - The Intelligent Electric Vehicle ETF tracks the CSI Intelligent Electric Vehicle Index, which covers various systems in the electric vehicle industry chain [3] - The Consumer Electronics ETF tracks the CSI Consumer Electronics Theme Index, focusing on AI hardware and related companies [3] - The Internet of Things ETF tracks the CSI Internet of Things Theme Index, emphasizing companies involved in information collection and transmission [3]

Core Viewpoint - The article discusses the potential revival of eSIM services by China's three major telecom operators, highlighting the growing importance of eSIM technology in the consumer electronics market and its implications for the industry [2][4]. Group 1: eSIM Technology Overview - eSIM technology eliminates the need for physical SIM cards by embedding a chip directly into devices, allowing for remote configuration and activation [5]. - The global eSIM smartphone connections are projected to reach approximately 1 billion by the end of 2025 and surge to 6.9 billion by 2030, representing 76% of total smartphone connections [4][12]. Group 2: Current Market Dynamics - China Unicom and China Mobile are leading the push for eSIM, with China Unicom already offering eSIM services through its app [2]. - The eSIM market in China has been slow to develop due to regulatory concerns and the traditional reliance on physical SIM cards for customer retention and identity verification [7][8]. Group 3: Global eSIM Development - As of June 2024, 441 mobile operators in 123 countries have launched eSIM services for smartphones, a significant increase from 45 operators in 2018 [6]. - The European Union has played a crucial role in promoting eSIM adoption through regulations, while the U.S. market has seen growth driven by major tech companies like Apple [6]. Group 4: Industry Participants and Opportunities - Key players in the eSIM supply chain include chip manufacturers like Unisoc and Holitech, traditional SIM card suppliers like Eastcompeace and Hengbao, and eSIM platform providers [10][9]. - The IoT sector is expected to see substantial growth in eSIM connections, with projections indicating an increase from 22 million in 2023 to 195 million by 2026 [12].

Core Insights - eSIM technology is becoming a key enabler for the Internet of Things (IoT) and is expected to significantly enhance user experience by eliminating the need for physical SIM cards [1][2] - The market for eSIM is projected to grow substantially, with an estimated 1 billion eSIM-enabled smartphones by the end of 2025 and 6.9 billion by 2030 [2] - The eSIM industry chain includes component manufacturers, operators, and application service providers, with several A-share listed companies actively participating in this space [3][4] Market Potential - eSIM technology allows for lighter and thinner consumer electronics, as it does not require a physical card slot [1] - The demand for eSIM is driven by the increasing need for lightweight consumer electronics, wearable devices, and IoT terminals [1][2] - Jupiter Research forecasts that the number of IoT connections using eSIM technology will grow from 22 million in 2023 to 195 million by 2026 [2] Industry Collaboration - Companies like Unisoc, Quectel, and ThinkRace are making strides in the eSIM market, with Unisoc being the first in China to achieve global commercial use of eSIM [3] - Quectel has developed an end-to-end IoT eSIM solution that supports automatic connections in over 180 countries, enhancing operational efficiency and reducing costs [3][4] - ThinkRace is focusing on providing comprehensive solutions for automotive connectivity, leveraging eSIM and 5G technologies to streamline supply chain management for car manufacturers [4] Ecosystem Development - The eSIM industry in China is forming a complete layout across various segments, with companies exploring and refining business models to accelerate eSIM adoption [5] - The collaboration among industry players is expected to enhance the overall ecosystem, facilitating the widespread use of eSIM technology [5]

证券研究报告 | 公司点评报告 2025 年 08 月 08 日 强烈推荐（维持） 目标估值：NA 当前股价：16.06 元 基础数据 AI 先进光纤材料研发制造中心扩产项目启动建设 TMT 及中小盘/通信 事件：根据公司公众号，亨通光电 AI 先进光纤材料研发制造中心扩产项目已于 近期正式投入建设，计划 2026 年 2 月竣工。该项目占地 200 多亩，一期投资 将新增工艺、检测及公辅等先进设备 100 多套，主要用于超低损空芯光纤、超 低损多芯光纤和高性能多波段多模光纤等特种光纤的生产。为了在 AI、云计算、 万物互联、5G-A 通信产业等相关技术成熟及应用场景下，满足对多模、多芯、 空芯等特种光纤持续增长的市场需求。 ❑ 风险提示：费用成本加大风险、业务拓展不利风险、市场竞争加剧风险。 财务数据与估值 | 会计年度 | 2023 | 2024 | 2025E | 2026E | 2027E | | --- | --- | --- | --- | --- | --- | | 营业总收入(百万元) | 47622 | 59984 | 66808 | 73559 | 80827 | | 同比增长 | 2% ...

Core Insights - eSIM technology is becoming a key enabler for the Internet of Things (IoT) and is expected to significantly enhance user experience by eliminating the need for physical SIM cards [1][2] - The eSIM market is projected to grow substantially, with an estimated 1 billion eSIM-enabled smartphones by the end of 2025 and 6.9 billion by 2030 [2] - The eSIM industry chain includes component manufacturers, operators, and application scenarios such as mobile devices, wearables, automotive electronics, and IoT terminals [3][5] Market Potential - eSIM technology allows for lighter and thinner consumer electronics as it does not require a physical card slot [1] - The demand for eSIM is driven by the increasing need for lightweight consumer electronics, wearables, and IoT roaming capabilities [1][2] - Jupiter Research forecasts that the number of IoT connections using eSIM technology will grow from 22 million in 2023 to 195 million by 2026 [2] Industry Collaboration - Companies like Unisoc, Quectel, and ThinkRace are actively involved in the eSIM industry, with Unisoc being the first in China to achieve global commercial use of eSIM [3][4] - Quectel has developed an end-to-end IoT eSIM solution that supports automatic connections in over 180 countries, enhancing operational efficiency and reducing costs [3] - ThinkRace provides a comprehensive solution for automotive connectivity, leveraging eSIM and 5G technologies to improve supply chain management and service quality for automotive enterprises [4][5] Business Model Development - The eSIM industry is witnessing collaborative efforts among various players to explore and refine business models, which is expected to accelerate the adoption of eSIM technology [5] - Companies are focusing on backend operational support for eSIM services, including remote configuration and security management [4][5]

Core Viewpoint - Honor has become the first terminal manufacturer to support HarmonyOS NEXT data migration, breaking down barriers between HarmonyOS NEXT, Android, and iOS devices, allowing users to easily transfer data across different ecosystems [1][3]. Group 1: Technological Breakthrough - The "Switch Clone" app developed by Honor enables one-click data migration from old devices to Honor devices, utilizing Honor's Nearby device connection capabilities and DFTP high-speed transmission technology [1][3]. - This advancement addresses common user pain points such as incomplete data transfer, complicated procedures, and slow transfer speeds when switching devices across different brands and operating systems [3][4]. Group 2: User Experience Enhancement - The introduction of this feature significantly improves the user experience during device transitions, allowing for seamless data transfer and setting a new standard for cross-ecosystem connectivity in the smartphone industry [3][5]. - Honor's Magic V5 is the first model to incorporate this functionality, with plans to extend it to more Honor models in the future, benefiting a wider user base [3][4]. Group 3: Brand Philosophy and Future Outlook - Honor's CEO has emphasized the company's commitment to achieving "full brand terminal interconnectivity," reflecting the brand's vision of "everything interconnected" [4]. - The support for HarmonyOS NEXT data migration is seen as a manifestation of Honor's long-term investment in technology research and ecosystem development, aiming to create a more intelligent and convenient user experience [4][5]. - Industry experts believe that as Honor continues to deepen its efforts in the "Internet of Everything" domain, more industry partners may join to collaboratively build a more efficient and user-friendly smart terminal ecosystem [5].