近来，智能终端产业的发展议题备受关注，多地加速布局。 "不过，要想切实大幅提高智能终端产品普及率，今后各方至少还要做好以下两点工作。"深度科技研究 院院长张孝荣对《证券日报》记者表示，企业应进一步提升智能化水平，锁定用户痛点，用可生长的模 块化硬件和可进化的AI服务，跑通商业化闭环，丰富产品供给；在政策红利释放的过程中，各级主管 部门要及时清除各类制度性限制，推进数据共享，支持企业在医院、地铁等公共空间验证新技术、新产 品。 受访专家普遍表示，地方在发展智能终端产业的过程中强调差异化定位，可有效避免同质化竞争，减少 资源浪费，促进跨区域技术转移、人才流动以及资本合作，从而实现产业链供应链协同发展。 地方上的政策举措各有侧重，但AI手机、AI眼镜、机器人三大智能终端产品广受关注。中央财经大学 数字经济融合创新发展中心主任陈端在接受《证券日报》记者采访时表示，上述三大产品存在一个共 性，即伴随技术进步、成本降低，可通过重新定义广大消费者的生产生活实现普及率的大幅提升，完成 从"高端玩具"到"日常用品"的转变，市场想象空间巨大。 当前，我国智能终端产业已经进入新一轮增长期，智能终端产品普及率的大幅提升存在多维度的现 ...

Investment Rating - The report maintains an "Outperform" rating for the construction and decoration industry, indicating an expected performance that exceeds the broader market index [3][13]. Core Insights - The Shanghai Municipal Economic and Information Commission has released an action plan aimed at the high-quality development of the smart terminal industry, targeting a total scale exceeding 300 billion yuan by 2027, with the goal of establishing over three globally influential consumer-grade terminal brands and nurturing two leading enterprises [1]. - The report highlights the potential benefits for companies such as Roman Holdings, Pudong Construction, and Suzhou Planning, which are expected to capitalize on the growth of the smart terminal industry and related sectors [1][8]. - The action plan emphasizes the enhancement of intelligent computing terminal scales and the development of products supporting lightweight inference for large models, which is anticipated to drive significant growth in the computing power industry in Shanghai and the Yangtze River Delta region [1]. Summary by Sections Smart Terminal Industry Development - The action plan aims for the smart terminal industry in Shanghai to surpass 300 billion yuan by 2027, with specific targets for artificial intelligence computing devices [1]. - The report anticipates a compound annual growth rate (CAGR) of 27% for the smart computing center market in China from 2023 to 2028, with Shanghai positioned as a leading high-tech area [1]. Collaboration with Low-altitude Economy - The report discusses the synergy between low-altitude economy and computing power business, suggesting that advancements in satellite internet terminal products could enhance applications in various fields [1]. - It posits that increased low-altitude flight frequency will necessitate more AI computing power for task prioritization and optimal flight routing, benefiting related enterprises [1]. Beneficiary Companies - Three categories of companies in the Yangtze River Delta construction and building materials sector are identified as potential beneficiaries: 1. Construction companies expanding into computing power business, with recommendations for Roman Holdings and Pudong Construction [8]. 2. Low-altitude facility design and operation companies, including Suzhou Planning and others [8]. 3. Companies likely to benefit from AI-enabled production and entertainment asset operations, such as Zhi Te New Materials [8].

10月9日召开的上海市政府常务会议要求，全力打造具有全球影响力的消费级终端品牌。要聚焦技术攻 关，夯实底层技术支撑能力，鼓励终端企业与芯片、算法企业联合攻关，构建更加安全高效的产业链供 应链体系。要锚定细分赛道，抢抓新终端机遇，抢占新蓝海市场，引领行业集群化、规模化发展。要坚 持数据驱动，释放终端数据价值，构建"产品+场景+生态"融合竞争优势，将"上海智造"打造为引领产业 高质量发展的新标杆。 在智能终端领域，很多专家预测今年将是爆发增长的元年，将成为拉动消费的新引擎。有关国内外机构 现有数据显示，今年上半年我国AI终端出货量已经占到全球42%，预测今年全年AI手机、AIPC、AI平 板出货量将增加20%。 （文章来源：证券时报） 此外，引育人工智能手机终端品牌，加快布局人工智能手机生产能力，填补上海市手机终端能力空白。 在智能算力终端规模上，《行动方案》要求，打造智算服务器终端产业集群，提升万卡集群系统调优能 力，集聚国内智算服务器整机优质企业，实现百亿级规模，牵引自主GPU、互联模块等核心部件规模化 应用。 《行动方案》还要求，建设卫星终端智能产线，打造卫星终端上海品牌，加快形成十万级卫星终端整机 生产规 ...

Core Viewpoint - The Shanghai Municipal Economic and Information Commission has issued the "Action Plan for High-Quality Development of the Intelligent Terminal Industry in Shanghai (2026-2027)", emphasizing the enhancement of robotic terminal capabilities [1] Group 1: Robotics Development - The plan aims to develop humanoid robots that possess listening, emotional intelligence, cognitive skills, and technical abilities [1] - Support will be provided for the research and mass production of humanoid robot products [1] - The initiative includes accelerating the industrialization of core components such as edge-side chips, dexterous hands, and batteries [1] Group 2: Industrial Collaboration - The plan promotes the collaboration between industrial robots and their components, focusing on key components and high-end complete machines to address weaknesses in the supply chain [1] - There is an emphasis on completing the industrial chain by addressing gaps in critical areas [1] Group 3: Market Penetration - The strategy aims to accelerate the penetration of robotic terminal products into the consumer market [1] - Development of consumer-grade robots such as companion robots and household robots is a key focus [1]

Core Viewpoint - The Shanghai Municipal Economic and Information Commission has issued the "Action Plan for High-Quality Development of the Smart Terminal Industry (2026-2027)", which aims to enhance the capabilities of smart glasses, focusing on AR, MR, and VR products [1] Group 1 - The plan emphasizes the creation of leading brands in smart glasses, establishing a comprehensive product matrix that covers consumer, enterprise, and professional levels [1] - Companies are encouraged to strengthen the processing capabilities of smart glasses, with a focus on breakthroughs in key technologies such as multimodal interaction, spatial computing, lightweight design, low power consumption, high endurance, and full-color displays [1] - The initiative aims to improve the developer ecosystem for smart glasses, creating a new internet entry point and expanding application scenarios to accelerate innovation in industries such as manufacturing, healthcare, education, and assistance for the disabled [1]