言咏/文《儿童手表安全技术要求》强制性国家标准近日获批发布，将于2027年1月1日起正式实施。其 中最受关注的条款，是明确要求产品应"允许不同品牌手表之间交换电话号码和昵称"。这意味着长期被 诟病的儿童手表社交封闭生态将被打破，市场与行业格局有望迎来重塑。 中国产业研究院报告显示，2025年儿童智能手表的市场普及率已达35%左右，相当于每三个孩子中就有 一个拥有此类设备；在城市儿童中，这一比例更是接近半数。如此高的普及度意味着，该产业已广泛而 深刻地嵌入一代人的成长过程中，不能再任其无序发展。此次强制性国标的出台，是一个重要的监管起 点，明确传递出防止商业力量过度塑造儿童社交环境的政策决心。 另一方面，技术赋予这一代孩子前所未有的"在线"便利，却也带走了一些珍贵之物。其中最令人警觉 的，是"玩耍式童年"的消逝。如今的孩子，越来越少地拥有在真实世界中与同伴一起自由嬉戏的时光。 他们在屏幕前热络交流，身体却困于各自的单元房内。当好友列表取代了楼下那一声"出来玩吧"，当表 情包取代了面对面的挤眉弄眼，当步数排名取代了共同"在场"的追逐竞跑——他们失去的，不仅是玩耍 的快乐，更是与真实世界肌肤相亲的体验，是对生活鲜活 ...

Group 1 - The core viewpoint is that semiconductor manufacturing is experiencing price increases and growth in various sectors, particularly due to demand for AI and advanced technologies [1] Group 2 - SMIC has raised prices for its 8-inch BCD process platform by 10%, driven by strong demand in AI server power chips and other applications [1] - The smartwatch market is projected to grow by 7% in shipment volume by 2025, supported by AI integration, 5G capabilities, and upgrades in health features [1] - The automotive electronics sector, particularly ADAS and autonomous driving sensors, is expected to reach a market size of $61 billion by 2035, with China leading in sensor application volume [1] Group 3 - The Guotai ETF (589100) tracks the semiconductor index (000685), which has a daily price fluctuation limit of 20%, focusing on companies involved in the entire semiconductor industry chain [1] - The index reflects the overall performance of listed companies in the semiconductor sector, including materials, equipment, and design technologies [1]

【免责声明】本文仅代表作者本人观点，与和讯网无关。和讯网站对文中陈述、观点判断保持中立，不对所包含内容 的准确性、可靠性或完整性提供任何明示或暗示的保证。请读者仅作参考，并请自行承担全部责任。邮箱： news_center@staff.hexun.com 每日经济新闻 （责任编辑：董萍萍 ） 中信建投指出，存储行业迎来涨价潮，三星电子和SK海力士已上调明年HBM3E价格近20%，这一 异常涨幅主要受英伟达、谷歌、亚马逊等AI加速器企业订单量增加驱动。尽管明年HBM4市场兴起后价 格可能回落，但全球科技企业对HBM3E的需求持续增长，供应紧张导致价格溢价。半导体制造方面， 中芯国际对8英寸BCD工艺平台提价10%，该技术因集成优势在AI服务器电源芯片等领域需求旺盛。此 外，智能手表市场预计2025年出货量增长7%，受AI集成、5G支持及健康功能升级推动。汽车电子领 域，ADAS和自动驾驶传感器市场到2035年将达610亿美元，中国在传感器应用量上领先，激光雷达和 成像雷达成为增长最快细分市场。 科创芯片ETF国泰（589100）跟踪的是科创芯片指数（000685），单日涨跌幅达20%，该指数从科 创板市场中选取 ...

Core Viewpoint - The company, Shenzhen Xipuni Precision Technology Co., Ltd., has announced a positive profit forecast for 2025, projecting a net profit exceeding RMB 90 million, significantly higher than the approximately RMB 49 million in 2024, indicating a transformation in its financial fundamentals and a more resilient growth trajectory [1][12] Group 1: Profit Growth Drivers - The profit growth is attributed to two main factors: an increase in jewelry sales revenue and an improvement in the gross margin of watch sales [1] - The company has shifted its growth drivers from reliance on gold prices and single product categories to a more sustainable and controllable endogenous growth model through structural optimization [2] Group 2: Strategic Business Model - Xipuni's dual-track model of "Own Brand (OBM) and Design Manufacturing (ODM)" has proven to be resilient and strategically flexible, maximizing manufacturing capabilities and diversifying market risks [4] - The OBM segment, centered around the brand "Xipuni (HIPINE)," has strengthened the company's value moat through continuous brand building and partnerships, enhancing brand premium and supporting improved gross margins [4][5] Group 3: Cost Optimization and Product Innovation - The enhancement of gross margins in watch sales reflects improved product value, brand premium, and cost control, driven by high-end product offerings and advanced manufacturing techniques [2][3] - The company's unique gold hardening technology and efficient manufacturing processes have led to cost optimization and increased production efficiency, allowing for a reduction in the gold material cost percentage [3] Group 4: Future Growth Strategies - The company is focusing on smart technology and international expansion, having launched a smart gold watch in collaboration with Huawei, which has shown significant revenue growth potential [7] - Xipuni has successfully entered the Malaysian market, leveraging its unique product offerings to tap into cultural and consumer trends in Southeast Asia and the Middle East [7][8] Group 5: Market Positioning and Brand Enhancement - The company's successful IPO in September 2025 has significantly increased brand visibility and credibility, providing resources for strategic initiatives and enhancing consumer trust [9][10] - The brand's transition from being industry-known to publicly recognized has strengthened its market position, particularly in online sales channels, which are expected to become a new growth engine [10] Group 6: Macro Economic Context - The international gold market has experienced a significant bull market in 2025, with gold prices rising over 70%, which has reinforced consumer perception of gold as a core asset [11] - This macroeconomic environment presents both challenges and opportunities for the company, as it seeks to position its products as valuable, technology-driven consumer goods [11][12] Group 7: Conclusion - The positive profit forecast signifies a breakthrough in the company's strategic transformation from a traditional manufacturer to a technology-driven consumer goods company with a strong brand and diversified product matrix [13] - This development reflects the management's strategic foresight and execution capabilities, indicating a clear path for continued growth through innovation and market expansion [13]

来源：Counterpoint Research 《全球智能手表出货量预测，2025 年 Q3》 在进一步谈及苹果表现时，Jain 补充道："苹果最新一代智能手表产品在上市季度实现了同比 12% 的出货量增长，预计其 2025 年全年出货量也将同比增 长 12%。这一反弹主要得益于备受期待的高性价比 Watch SE 3 以及超高端 Watch Ultra 3 的推出，这两款产品显著拓宽了苹果在不同价格区间的覆盖范 围。同时，5G 支持、卫星通信，以及高血压提醒等全新健康功能的加入，帮助苹果在连续七个季度同比下滑后明显回暖。" 副总监 David Naranjo 在展望市场前景时指出："2025 年的智能手表行业尤为突出，功能驱动型创新浪潮从根本上提升了设备性能。AI 集成、5G 支持、卫 星通信以及 MicroLED 显示技术成为最具代表性的升级亮点。如今即便是价格较低的型号也开始提供 AI 驱动的使用体验和升级版健康传感器，以重新吸 引此前流失的基础款智能手表用户。这种对功能升级和用户价值的重新聚焦正形成正向反馈，并有望在 2025 年推动市场增长。" 根据 Counterpoint Research 发 ...

东方证券指出，智能手表行业有望打开成长空间，主要驱动力来自AI应用及运动场景等需求。部分投 资者认为受行业创新节奏放缓影响，智能手表未来成长空间有限。随着市场整体复苏和智能化程度的提 升，智能手表市场有望保持成长态势。展望未来，AI手表和运动手表的出货量及渗透率不断提升，有 望成为智能手表行业未来成长的重要驱动因素，助力行业打开成长空间。 头豹研究院认为，中国智能手表行业近年来呈现快速增长态势，市场规模从2017年的136.05亿元增至 2022年的659.5亿元，预计到2027年将达2754.52亿元。行业增长主要依赖于出货量和平均价格的双重驱 动。未来，随着AI、物联网等技术融合加深，智能手表在医疗、运动、支付等场景的应用将进一步拓 展，推动行业持续扩容。 根据Counterpoint Research最新报告，全球智能手表出货量预计将在2025年年底同比增长7%，在2024年 首次出现下滑后重回增长轨道。 ...

提到海澜之家，相信很多人脑海里立刻浮现那段魔性的广告："一年逛两次 男人的衣柜"。不过，近期海澜之家做了一件让人惊掉下巴的事——推出一款智 能手表。 （图源：海澜之家） 实际上，很多服装品牌都会推出周边产品，以增强品牌的影响力。但海澜之家选择直接跨入此前从未涉猎的科技数码赛道，这的确让人有些摸不着头脑。而 且在大多数人的认知里，智能手表向来是手机厂商、科技公司的主场，一个服装品牌突然入局，多少显得有些不按常理出牌。 （图源：海澜之家） 互联部分，海澜之家甚至为HLA WATCH FORCE Pro开发了一款专用App——HLA运动健康，安卓/iOS双端已上线。 这么看来，HLA WATCH FORCE Pro并不像是一款玩票的产品，一方面是手表本身硬件并不落伍，该有的监测功能全都有、屏幕配置也足够亮眼，设计也 还算时尚；另一方面是生态互联也做足了配套服务，无论是安卓用户还是苹果用户，都能用专用App连接使用。 当然，海澜之家并非首个尝试跨界的服装品牌，过去几年里，越来越多原本与科技毫不相干的服饰品牌、奢侈品牌，开始跳出"舒适圈"。那么，为什么偏偏 是智能手表这个看起来并不起眼的赛道呢？ 海澜之家做智能手表，玩 ...

如果你是一名资深的 iPhone 用户，你一定熟悉「迁移到 iOS」这款 Android 应用。 在科技界的历史上，如果要选出两个最泾渭分明的阵营，非 iOS 与 Android 莫属。乔布斯当年立下的「围 墙花园（Walled Garden）」策略，不仅成就了苹果万亿美元的市值，也让这两个操作系统之间竖起了一道 看不见的高墙。 图源：不客观实验室 然而，2025 年末的这个冬天，墙体出现了巨大的裂缝。 随着 Google Pixel 10 系列率先宣布打通与 Apple 设备的 AirDrop 协议，紧接着 iOS 26.3 Developer Beta 1 的 发布，苹果正在以前所未有的姿态向 Android 开放。 iOS 26.3 的「反向移民」 图源：不客观实验室 多年来，它一直是苹果从 Android 阵营吸纳用户的利器。但在 iOS 26.3 中，苹果做了一件在五年前不可想 象的事情——它在系统底层铺设了一条"通往 Android 的高速公路"。 在最新的开发者预览版中，当我们点开那个熟悉的「设置」-「通用」-「传输或还原 iPhone」页面时，除 了原本的重置选项，赫然出现了一个新的入口：「传 ...

数据来源：中国海关，智研咨询整理 相关报告：智研咨询发布的《2025-2031年中国智能手表行业市场专项调查及投资前景分析报告》 根据中国海关数据显示：2025年10月中国电动手表进口数量为68万只，同比增长58.6%，进口金额为 0.52亿美元，同比增长45.9%。 近一年中国电动手表进口情况统计图 知前沿，问智研。智研咨询是中国一流产业咨询机构，十数年持续深耕产业研究领域，提供深度产业研 究报告、商业计划书、可行性研究报告及定制服务等一站式产业咨询服务。专业的角度、品质化的服 务、敏锐的市场洞察力，专注于提供完善的产业解决方案，为您的投资决策赋能。 ...

Core Insights - The high-end watch market in China is experiencing significant structural differentiation, with a notable decline in traditional Swiss watch exports and a rise in domestic smartwatches [1][4][20] - The Swiss watch market is projected to shrink for the first time in five years, with a 2.8% decrease in overall exports, and a 23% drop in exports to Greater China [1] - The resale market for luxury watches, particularly Rolex, has seen a price drop of over 30% since its peak in March 2022 [1] Market Trends - Traditional watch brands are struggling with market contraction, while domestic smartwatches, particularly from Huawei, are experiencing rapid growth, leading the global wearable device market with a 31% growth rate [4] - Huawei's WATCH ULTIMATE DESIGN series is positioned to penetrate the core price segment of traditional Swiss watches, offering advanced technology and features that traditional watches cannot match [9][20] Consumer Behavior Changes - The value anchors of luxury watches, traditionally based on craftsmanship and heritage, are becoming less relevant as consumers shift towards technology and health-oriented products [8][18] - High-net-worth individuals are increasingly interested in smartwatches that offer comprehensive health management and connectivity features, which traditional watches fail to provide [8][18] Product Innovations - Huawei's WATCH ULTIMATE DESIGN series integrates cutting-edge technology, including eSIM communication, satellite messaging, and advanced health monitoring capabilities, setting a new standard in the high-end smartwatch market [15][16] - The series features luxurious materials and craftsmanship, appealing to consumers' desires for both aesthetic and functional excellence [11][16] Strategic Positioning - Huawei's dual flagship strategy, with the non凡大师 (Ultimate Design) series targeting high-end consumers and the non凡探索 (Ultimate Exploration) series aimed at sports enthusiasts, strengthens its market dominance [20] - The brand's focus on continuous innovation and product iteration demonstrates its commitment to leading the high-end smartwatch segment [20][21]