来源丨凤凰网财经《公司研究院》 1月4日，市场有消息称，华硕将退出手机市场，并裁掉手机部门人力。 对此，凤凰网财经《公司研究院》致电华硕官方客服，对方给予的回复是："目前我们没有接到此类通知。如果您想要了解其他最新信息，可以关注华硕 商城或官网消息。" 据IT之家报道，华硕向媒体确认，2026 年暂无推出新款智能手机的计划，但手机事业单位的营运维持不变。此外，一位华硕品牌人员则回应凤凰网财经 《公司研究院》："对于手机业务并不清楚。" （图源：官网） 彼时，中国台湾手机产业正成为推动全球移动智能设备发展的重要力量。随着被誉为"当代手机格局布道师"的HTC作为安卓先驱崛起，华硕与宏碁这两大 PC巨头也纷纷进军手机市场。 2003年，华硕推出首款自有品牌手机J101，因其直立时能如天鹅般优雅旋转，故被用户昵称为"天鹅机"。虽然未激起巨大波澜，但这标志着华硕品牌化征 程的开始。真正意义上的第一次重大尝试是在2008年，华硕收购了全球导航巨头Garmin的智能手机业务，推出"Garmin-Asus"联合品牌，试图以专业导航 作为差异化卖点切入市场。 然而，这一合作生不逢时。苹果iPhone引领的智能手机革命正以摧枯拉 ...

1月4日，市场有消息称，华硕将退出手机市场，并裁掉手机部门人力。 来源丨凤凰网财经《公司研究院》 作者丨DW 对此，凤凰网财经《公司研究院》致电华硕官方客服，对方给予的回复是："目前我们没有接到此类通知。如果您想要了解其他最新信息，可以关注华硕 商城或官网消息。" 据IT之家报道，华硕向媒体确认，2026 年暂无推出新款智能手机的计划，但手机事业单位的营运维持不变。此外，一位华硕品牌人员则回应凤凰网财经 《公司研究院》："对于手机业务并不清楚。" （图源：官网） 01 断臂手机，华硕"甩掉"拖油瓶？ 华硕涉足手机领域的时间，远早于大众的认知。早在2002年功能机时代方兴未艾之时，华硕便已涉足手机代工（ODM）领域，为欧洲运营商制造贴牌产 品。 然而，代工利润微薄且无法建立品牌认知，怀揣着打造全球消费电子品牌梦想的华硕，并不甘心幕后。 彼时，中国台湾手机产业正成为推动全球移动智能设备发展的重要力量。随着被誉为"当代手机格局布道师"的HTC作为安卓先驱崛起，华硕与宏碁这两大 PC巨头也纷纷进军手机市场。 与此同时，华硕敏锐洞察到移动电竞的崛起。凭借在PC领域"ROG（玩家国度）"积累的深厚声誉，华硕于2017年推 ...

AIPC 开发顺利，有望受益AIPC 渗透率提升。目前公司多款AIPC 产品顺利完成开发与交付，其中与两 家国内头部客户的产品分别实现了落地量产和研发工作圆满收官。公司持续强化ARM/X86 等多平台开 发及制造能力,完善供应链管理。在客户拓展方面，公司持续深耕笔电行业头部客户群体，积极配合完 成多个预研项目。我们认为，公司作为智能产品ODM 龙头，具备技术与客户双卡位优势，未来有望深 度受益AIPC 出货高速增长。 盈利预测与投资评级：我们预计公司 2025-2027 年分别实现营业收入458.43、541.51、659.06 亿元，同 比分别增长-1.16%、18.12%、21.71%，2025-2027 年分别实现归母净利润6.51、8.97、12.49 亿元，同比 分别增长29.92%、37.81%、39.18%，公司作为行业龙头，在稳固主业的同时有望受益AI 眼镜、AIPC 等产品带来的新增量，首次覆盖给予"强烈推荐"评级。 智能产品ODM 龙头，多品类布局驱动高质量增长。公司业务覆盖多个国家和地区，为全球头部消费电 子品牌商和全球领先科技企业提供专业的智能产品综合服务，主要客户包括小米、三星电子、 ...

苏姿丰率AMD高管团队"低调"到访联想总部，图片由知情人士提供 在特朗普松口美国芯片出口禁令之际，美国超威半导体公司（AMD）董事会主席兼首席执行官苏姿丰 已抵达中国，开始新的谋篇布局。 据多家媒体报道，12月16日，苏姿丰已经抵达北京，此行第一站，是率领公司高管团队，访问AMD在 中国的重要合作伙伴联想集团总部。 对于此次造访，AMD官方未予置评，也未透露接下来的相关行程。 据新浪科技报道，联想集团执行副总裁兼中国区总裁刘军、执行副总裁兼智能设备业务集团（IDG）总 裁Luca Rossi等高管负责接待。 第一财经则称，苏姿丰一行参观了包括人形机器人在内的多项联想最新产品与成果。 社交媒体上流传出来的照片显示，联想总部大屏打出英文欢迎词，双方高管簇拥着摆出不同姿势的机器 人拍照合影。联想集团的普通员工都对此事相当关注，即使本人不在现场、没有接待任务，也纷纷发了 朋友圈。 上一次，在为期一周的中国行中，苏姿丰同样也是先去的联想总部，并且宣布双方在AIPC领域展开多 项合作。 此后，AMD在中国举办了两场规模颇大的发布会，AIPC是主角。当时，AMD宣称，AMD中国AI应用 创新联盟的ISV合作伙伴已经超过10 ...

Core Viewpoint - The report by Haitao Securities emphasizes the importance of identifying stocks with potential short-term or long-term performance discrepancies or surprises in AI advancements as a core task for 2026 [1] Group 1: Investment Strategy - The main investment strategy is to focus on value investing in the Hang Seng Technology Index, leveraging volatility from the Hong Kong stock market and short-selling mechanisms [1] - The key to successful operations lies in selecting fundamentally strong companies with sustainable development capabilities [1] Group 2: Recommended Stocks for 2026 - Stocks currently at the bottom or adjusting, with a high likelihood of fundamental reversal in 2026: Meituan, Xiaomi Group (planning next vehicle), BYD Electronics [2] - Stocks expected to benefit from EPS gains and potential valuation uplift: Tencent Holdings, Trip.com Group, JD Health, Lenovo Group [2] - Stocks with controllable elasticity: Alibaba, Baidu Group, SMIC, Hua Hong Semiconductor [2] - AI elastic stocks: Kuaishou, Bilibili, Kingdee International, Horizon Robotics, Xpeng Motors, Yueda Group, NetEase, Sunny Optical Technology, UBTECH [2] - Potential small-cap companies: Inspur Digital Enterprise, Xindong Company, Huiliang Technology [2] Group 3: Individual Stock Insights - Kuaishou, Bilibili, Horizon Robotics, Xpeng Motors, Sunny Optical Technology, UBTECH are highlighted as key stocks with positive outlooks [2] - Inspur Digital Enterprise and Huiliang Technology are noted as quality small-cap stocks with promising prospects [2] - Tencent Holdings is identified as a top pick due to its strong research framework [2] - Alibaba is considered a leading asset in AI technology [2] - Lenovo Group is expected to achieve profitability in its server business next year due to accelerated AIPC penetration [2] - Trip.com Group is positioned well for growth driven by domestic stability and overseas acceleration [2] - JD Health is recognized as a leading player in internet healthcare with a clear growth path [2] - Meituan is noted for its resilience and potential turning point in competitive landscape [2] - Kingdee International's growth is constrained by macroeconomic factors, but AI and overseas expansion provide additional elasticity [2] - Xiaomi Group is expected to see improvements as negative factors gradually clear [2] - SMIC is experiencing an increase in advanced manufacturing proportion and continuous technological breakthroughs [2] - Hua Hong Semiconductor is benefiting from growth driven by computing and consumer electronics [2] - Yueda Group focuses on IP as a core asset, with expectations for further expansion and monetization [2] - NetEase is anticipated to enter a new product cycle with upcoming releases [2] - BYD Electronics is expected to see growth from Apple's foldable phone production and has significant potential in the new energy vehicle and data center sectors [2] - Xindong Company is driven by gaming and Taptap, with expectations for the launch of an overseas version [2]

Group 1 - The article emphasizes the importance of timely and professional information interpretation in investment decision-making [1] - The collaboration between Muxi and domestic GPU chip manufacturers such as Birun and Suiruan to launch high-density liquid cooling solutions is highlighted [1] - The company has developed self-researched GPGPU chips that integrate graphics and AI computing power, with recent server chips supporting AIPC applications and deep collaboration with the HarmonyOS to build an industrial control ecosystem [1]

Core Insights - The report highlights a rebound in export growth, with November exports increasing by 5.9% year-on-year, indicating strong resilience in foreign trade [5][7][9] - The construction sector is experiencing a divergence in performance, with traditional and new infrastructure projects working in tandem [20][23] - The automotive sector is witnessing significant growth, particularly in modular supply and die-casting businesses, with expectations of continued high profit growth [25][26] Group 1: Export and Trade Insights - November import growth was recorded at 1.9% year-on-year, while exports saw a notable increase of 5.9% year-on-year, marking a recovery from previous declines [5][6] - The trade surplus also improved, with a year-on-year increase of 14.7%, reflecting a robust trade environment [5][6] - The report emphasizes that China's export strength is driven by high cost-performance products, with machinery and high-tech products showing significant growth [8][9] Group 2: Construction Sector Analysis - The construction sector's fixed asset investment decreased by 1.7% year-on-year, with infrastructure investment growing by only 1.5%, indicating a slowdown [20][21] - Major state-owned enterprises in the construction sector reported a revenue decline of 4.4% year-on-year, highlighting the challenges faced due to reduced new contracts and prolonged payment cycles [21][22] - The report suggests focusing on opportunities in overseas construction, urban renewal, digital construction, and power engineering as key growth areas [22][23] Group 3: Automotive Sector Developments - The automotive sector is experiencing rapid growth, with the company transitioning successfully to a modular supplier, expecting significant revenue increases [25][26] - The market for stamping parts is substantial, with a domestic market size of approximately 300 billion, and the company is positioned to capture a larger market share [26][27] - The report anticipates continued high growth in the automotive sector, driven by partnerships with major automotive brands and the expansion of product offerings [27][28] Group 4: Electronics Sector Insights - The electronics sector, particularly in ODM, is set to benefit from the AI wave, with the company positioned as a leader in smartphone ODM with a revenue of 464 billion [29][30] - The report outlines a strategic focus on expanding into new growth areas such as smart glasses and automotive electronics, leveraging AI technology [30][31] - The company is expected to see significant revenue growth, with projections of 462.08 billion, 546.44 billion, and 663.31 billion for 2025-2027 [29][31]

Core Viewpoint - Dongxin Co., Ltd. is actively matching suitable chip products based on customer needs, focusing on various applications such as personal computers, professional design, AIPC, cloud gaming, cloud rendering, and digital twins [2] Group 1 - Dongxin Co., Ltd. responded to investor inquiries on an interactive platform regarding its chip products [2] - The company's chips are primarily used in personal computers and professional design applications [2] - Additional applications for the chips include AIPC, cloud gaming, cloud rendering, and digital twins [2]

盘面上，海南十五五规划出台加快完善自由贸易港政策制度体系，海南板块爆发，神农种业、海马汽车 及罗牛山(000735)等多股涨停；免税概念走高，中百集团(000759)涨停；据报万科今日将讨论债券展期 事宜，房地产板块午后拉升，万科A、财信发展(000838)等多股涨停；贵金属、共享经济、商业百货及 教育等板块涨幅居前。另外，培育钻石板块下挫，惠丰钻石跌逾6%；电源设备板块走低，海博思创跌 逾8%；乳业股集体走弱，皇氏集团(002329)领跌；AIPC、银行及消费电子等板块跌幅居前。(格隆汇) | 上证指数 深证成指 | 北证50 | | --- | --- | | 3900.50 13316.42 1389.80 | | | -9.03 -0.23% +39.06 +0.29% -11.93 -0.85% | | | 科创50 创业板指 | 万得全A | | 1346.70 | 3209.00 6288.29 | | -0.40 -0.03% -0.60 -0.02% +7.58 +0.12% | | | 沪深300 中证500 中证A500 | | | 4591.83 7155.99 5532.59 | | ...

Group 1 - The AIPC sector experienced a decline of 2.86% on December 10 [1] - Among the companies, Jucheng Co., Ltd. saw a significant drop of 7.75% [1] - Bojie Co., Ltd. and Jiangbolong both fell by 4.95% and 4.88% respectively [1] - Other companies such as Pengding Holdings, Shengyi Electronics, and Baiwei Storage also reported declines exceeding 3% [1]