Group 1 - Huawei officially launched the new Mate XTs foldable phone on September 4, with a starting price of 17,999 yuan, which is a reduction of 2,000 yuan compared to the previous generation, indicating a shift from "high-end trial" to "mainstream" foldable devices [1][3] - Huawei remains the only brand in the industry to achieve mass production and iteration of the tri-folding phone since the release of the world's first commercial tri-folding phone last year, with key technologies in hinge systems, screens, and structural components [3][8] - The new Mate XTs features a new Tian Gong hinge system that reduces the thickness of the outer folding axis by 23% and the inner folding axis by 16%, with the hinge value remaining around 1,000 yuan [8][9] Group 2 - The phone's structural components include a lightweight metal frame design and the introduction of eSIM functionality, eliminating the need for a physical SIM card slot, with a thickness of only 3.6mm when unfolded, making it thinner than Samsung's Galaxy Z Fold 7 by 15% [8][9] - The display of the Mate XTs is the largest foldable screen in the industry, utilizing 30μm ultra-thin UTG glass, which enhances impact resistance by 30% through a non-Newtonian fluid material that hardens upon impact [8][9] - Following the pre-sale launch, the Mate XTs sold out in less than half an hour, indicating strong market demand, with initial stock estimates ranging from 400,000 to 600,000 units [9][11] Group 3 - According to IDC data, the foldable phone market in China is expected to reach 4.98 million units in the first half of 2025, with a year-on-year growth of 12.6%, and Huawei's shipment volume reached 3.74 million units, capturing 75% of the market share [11]

Group 1: Industry Overview - Huawei has launched a new foldable smartphone with a starting price of 17,999 yuan, which is 2,000 yuan lower than the first generation. The new model supports downloading PC applications and includes upgrades in chips and imaging [3] - In the first eight months of this year, the sales of foldable smartphones in China reached approximately 5.88 million units, representing a year-on-year growth of 26%, with a penetration rate of about 3.2% [3] - The State Council has issued an opinion to enhance the potential of sports consumption, aiming to cultivate influential sports enterprises and events by 2030, with the total scale of the sports industry expected to exceed 7 trillion yuan [3] Group 2: Advanced Manufacturing - In August, domestic lithium carbonate production reached a new high of over 85,000 tons, with a month-on-month increase of 5% and a year-on-year increase of 39% [6] - The price of battery-grade lithium carbonate has decreased, with an average price of 74,700 yuan, down 800 yuan from the previous trading day and 5,800 yuan from a week ago. This price decline may slightly impact the short-term outlook for sodium batteries [6] - Global shipments of sodium batteries are projected to reach 3.6 GWh in 2024, a year-on-year increase of 260%, and are expected to reach 23.1 GWh in 2025, representing a year-on-year growth of 542% [6] Group 3: Company Performance - Nongfu Spring reported a mid-year revenue of 25.622 billion yuan, a year-on-year increase of 15.6%, and a net profit of 7.622 billion yuan, up 22.1%, exceeding Bloomberg's consensus estimate by about 5 percentage points [8] - The gross margin improved by 1.5 percentage points to 60.3%, primarily due to the decline in costs of PET materials, cartons, and sugar. The gross margin is expected to remain stable in the second half of the year [8] - The tea beverage segment has become the largest revenue contributor, generating 10.089 billion yuan, a year-on-year increase of 19.7%, driven by new product launches [9]

Core Viewpoint - Huawei has launched its new flagship foldable smartphone, Mate XTs, targeting the high-end market with premium features and pricing, marking a significant return of its Kirin chip technology after a four-year hiatus [2][3]. Group 1: Product Launch and Features - The Mate XTs is priced at 17,999 yuan for the base model with 256GB storage and 21,999 yuan for the top configuration, which is comparable to purchasing two latest MacBook Airs [2]. - The device is powered by the new Kirin 9020 chip and runs on HarmonyOS 5.0, achieving a performance improvement of approximately 36% [3]. - Huawei has developed 12 foldable screen products over six years, establishing a leading position in the market [3]. Group 2: Market Position and Projections - IDC forecasts that Huawei will capture 75% of the Chinese foldable smartphone market by the first half of 2025, with nearly 500,000 units of the Mate XTs expected to be sold [3]. - The overall foldable smartphone market in China is projected to reach 9.47 million units in shipments by 2025 [3]. Group 3: Competitive Landscape - Apple is expected to enter the foldable smartphone market, with plans to launch its first foldable iPhone in 2026 and a foldable iPad by 2028, indicating a potential competitive clash with Huawei [4].

Group 1: Tourism and Consumption - The tourism consumption remains active, with significant growth in civil aviation and railway transportation during the summer travel period of 2025, indicating a strong recovery in travel demand [1] - There is an increase in demand for summer vacation trips and mid-to-high-end accommodations, with the "first-time" traveler group expanding as a new highlight of consumption upgrades [1] - The upcoming National Day and Mid-Autumn Festival holidays are expected to further enhance travel plans, with outbound travel and staggered travel intentions increasing [1] - The report from Lingnan Holdings Guozhi Travel indicates that tourist planning and booking times for the National Day are generally earlier this year [1] - The 8-day holiday is boosting outbound travel, with data showing that hotel bookings in popular countries for the National Day have doubled year-on-year, and Chinese tourists have booked flights to 599 cities globally [1] - The tourism sector plays a crucial role in leading, promoting, and optimizing consumption, contributing significantly to high-quality economic development and the construction of a unified national market [1] Group 2: Apple and Foldable Phones - Apple has significantly raised its shipment forecast for foldable iPhones, reflecting the company's strong expectations for the potential popularity of this new product [2] - The revised shipment estimates for foldable iPhones are now set at 8-10 million for 2026 and 20-25 million for 2027, up from previous estimates of 6-8 million and 10-15 million respectively [2] - Foldable smartphones are emerging as a key innovation in consumer electronics, gradually penetrating from the high-end market to mainstream consumer groups [2] - According to TrendForce, global shipments of foldable smartphones are projected to reach 17.8 million units in 2024, with an expected growth to 70 million units by 2027, representing a CAGR of 57.8% from 2024 to 2027 [2] - Analysts believe that Apple's accelerated entry into the foldable phone market could drive rapid growth in the foldable phone segment and lead to innovation upgrades in the supply chain [2]

Core Viewpoint - Huawei held its autumn product launch event on September 4, showcasing new devices including a new foldable smartphone, smart screens, tablets, and wireless earphones, amidst a competitive landscape as multiple smartphone manufacturers announced their own September product launches [1][2][3]. Group 1: Huawei's New Product Launch - Huawei introduced a new version of its foldable smartphone, which features a stylus, upgraded chips, and imaging capabilities, and for the first time supports downloading PC applications on mobile [3][5]. - The starting price of the new foldable smartphone is set at 17,999 yuan, which is 2,000 yuan lower than the first generation, reflecting a strategy to enhance competitiveness as the supply chain matures and costs decrease [7]. Group 2: Industry Trends and Market Insights - The foldable smartphone segment is becoming a key focus for manufacturers, with significant opportunities emerging for the electronic supply chain as more brands enter this market [7][10]. - As of August 24, 2023, foldable smartphone sales in China reached 5.88 million units, marking a 26% year-on-year increase, with a market penetration rate of 3.2% [10]. - The consumer electronics industry is experiencing a recovery, with IDC predicting a 1% year-on-year growth in global smartphone shipments by 2025, reaching 1.24 billion units, alongside emerging demand in VR, AR, and smart wearable devices [14].

Group 1 - The core viewpoint of the article highlights Apple's significant upward revision of its foldable iPhone shipment forecasts, indicating strong expectations for the new product's potential popularity [1] - Apple's revised shipment estimates for foldable iPhones are now projected to be 8-10 million units in 2026 and 20-25 million units in 2027, up from previous estimates of 6-8 million and 10-15 million units respectively [1] - Foldable smartphones are emerging as a key innovation in consumer electronics, gradually penetrating from the high-end market to mainstream consumer groups [1] Group 2 - According to TrendForce, global shipments of foldable smartphones are expected to reach 17.8 million units in 2024, with projections of growth to 70 million units by 2027, representing a CAGR of 57.8% from 2024 to 2027 [1] - Analysts believe that Apple's accelerated entry into the foldable smartphone market is likely to drive rapid growth in foldable smartphone shipments and lead to innovation upgrades in the foldable supply chain [1] - There is optimism regarding core incremental segments such as foldable UTG cover glass and hinges, as well as new technologies like liquid metal and 3D printing [1]

余承东透露，搭载HarmonyOS5的终端设备数量已突破1400万。华为Mate70系列、华为MateX6系列等50 余款设备已支持升级HarmonyOS 5.1。Mate XTs非凡大师分三个版本，价格分别为17999元、19999元、 21999元，将于9月12日正式开售。 IDC发布的报告显示，2025年上半年，中国折叠屏手机出货量达到498万台，同比增长12.6%。期间内， 华为以374万台的出货量占据75%的市场份额，创下历史新高。自2019年发布首款折叠屏手机以来，华 为成为首个累计出货量突破1000万台的中国品牌。 责任编辑：栎树 9月4日，华为Mate XTs非凡大师及全场景新品发布会在深圳举行。会上，华为常务董事、终端BG董事 长余承东正式发布了华为新款三折叠手机华为MateXTs非凡大师。 余承东说，该款手机搭载麒麟9020芯片和鸿蒙操作系统，软硬芯云协同，整机性能提升36%。值得注意 的是，时隔四年后，麒麟芯片重现华为发布会，引发全场欢呼。 ...

Group 1 - Huawei launched its second foldable smartphone, Mate XTs, with a starting price of 17,999 yuan, featuring the Kirin 9020 chip and a 36% performance improvement [3] - The global smartwatch shipment increased by 8% year-on-year in Q2 2025, with Huawei surpassing Apple for the first time in shipments [17] - The global foldable smartphone market saw a 45% year-on-year growth in Q2 2025, driven by strong demand in China and the US [19] Group 2 - Armani's founder, Giorgio Armani, passed away at the age of 91, marking a significant loss for the luxury fashion industry [5] - ByteDance reported the dismissal of 100 employees in Q2 for violating company policies, with 18 facing serious allegations [6] - Rivian is undergoing layoffs, affecting less than 1.5% of its workforce, as it prepares to launch a more affordable SUV [12] Group 3 - DeepSeek is developing an advanced AI model with improved agent capabilities, aiming to compete with US counterparts [7] - Tesla has opened its Robotaxi application to the public, indicating a broader rollout of the service [11] - Amazon completed the acquisition of Indian online financial platform Axio, enhancing its credit coverage in India [11] Group 4 - Cambricon's stock fell over 13%, resulting in a market value loss of more than 69.4 billion yuan [6] - Xiaohongshu's valuation surged by 5 billion USD in three months, reaching 31 billion USD, reflecting strong market confidence [6] - ZhuiMi Technology reported that its revenue for the first half of 2025 has already surpassed its total revenue for 2024 [10] Group 5 - Honeywell's quantum computing subsidiary, Quantinuum, completed a 600 million USD financing round, achieving a valuation of 10 billion USD [12] - The first batch of Tesla Model Y L vehicles produced at the Shanghai Gigafactory has been delivered [10] - The mini version of Labubu saw a price drop of 10% to 30% within a week of its online sale [7]

Market News - The three major U.S. stock indices closed higher, with the Dow Jones up 0.77%, S&P 500 up 0.83%, and Nasdaq up 0.98% [1] - Western Digital rose over 5%, Micron Technology rose over 4%, and large tech stocks strengthened, with Amazon up over 4% and Tesla up over 1% [1] - Chinese concept stocks mostly declined, with the Nasdaq Golden Dragon China Index down 1.11%, Alibaba down over 4%, NIO down over 3%, and XPeng down over 2% [1] - International precious metal futures generally fell, with COMEX gold futures down 0.91% at $3602.40 per ounce and COMEX silver futures down 1.77% at $41.32 per ounce [1] - International oil prices collectively fell, with WTI crude down 0.98% at $63.34 per barrel and Brent crude down 1.11% at $66.85 per barrel [1] - European stock indices closed mixed, with Germany's DAX up 0.74%, France's CAC40 down 0.27%, and the UK's FTSE 100 up 0.42% [1] Industry Insights - A surge in overseas demand has triggered a "buying spree" for energy storage cells, marking a chain reaction in the global energy landscape [2] - In North America, the market is driven by both large-scale and commercial storage [2] - In Europe, countries like Germany and Italy have seen household storage penetration rates exceed 25%, with a significant increase in new installations [2] - In the first half of 2025, Europe is expected to add 12 GWh of new storage capacity, a 210% year-on-year increase, with household storage accounting for over 60% [2] - The demand for Chinese energy storage cells is surging, with exports expected to reach 85 GWh in the first half of 2025, a 280% increase year-on-year, capturing over 75% of the global market [2] - The small storage cell market is experiencing rapid growth, with global shipments reaching 21.65 GWh in the first half of 2025 [2] - The North Star industry in China is projected to reach a total output value of 500 billion to 600 billion yuan by 2025, with a compound annual growth rate exceeding 10% [4] - Huawei's Mate XTs foldable smartphone was launched at a starting price of 17,999 yuan, featuring the Kirin 9020 chip and Harmony OS [5] - In the first half of 2025, China's foldable smartphone shipments reached 4.98 million units, a 12.6% year-on-year increase, with Huawei capturing 75% of the market share [5] - Apple plans to launch its first foldable iPhone in 2026, which is expected to accelerate the growth of the foldable smartphone market [6]

Group 1 - Huawei continues to strengthen its position in the foldable smartphone market, launching the Mate XTs Master Edition with a starting price of 17,999 yuan and featuring the Kirin 9020 chip, which enhances overall performance by 36% [1][4] - According to IDC, Huawei achieved a record 75% market share in China's foldable smartphone segment, with 3.74 million units shipped in the first half of 2025, marking a 12.6% year-on-year growth [1][7] - The foldable smartphone market is becoming increasingly competitive, with major players entering the space, and Huawei being the first Chinese brand to surpass 10 million cumulative shipments since its first foldable phone launch in 2019 [1][7] Group 2 - The Mate XTs Master Edition features a 10.2-inch display with a 3K resolution and a thickness of only 3.6 mm, utilizing advanced hinge technology to reduce thickness [4][6] - The device is equipped with HarmonyOS 5.1, enhancing large-screen interaction and productivity applications, allowing seamless integration with PC applications and supporting multi-window functionality [5][6] - The global foldable smartphone market is projected to reach approximately 19.83 million units by 2025, with China expected to account for 947 million units, maintaining a 75% market share for Huawei [7][8] Group 3 - The industry is shifting focus from hardware innovation to software ecosystems and cross-platform collaboration, with an emphasis on large-screen applications and AI integration as new growth points [8] - The competitive landscape is evolving, with companies needing to build mature large-screen application ecosystems to gain a competitive edge in the high-end market [8] - As hardware innovation slows, software upgrades are becoming the key factor in market competitiveness, leading the foldable industry into a new phase defined by "software defining hardware" [8]