2025年是《成渝地区双城经济圈建设规划纲要》实施的收官之年。今年以来，川渝两省市在推动双 城经济圈建设方面取得哪些成果？接下来，两地又将如何同题共答、同向发力？ 此外，围绕聚焦建设改革开放新高地，川渝两地也有新进展。 聚改革——四川与重庆深化毗邻地区经济区与行政区适度分离改革，川渝高竹新区探索形成跨省市 共建税费征管服务中心等改革经验，成渝地区空域结构完成调整并正式实施、新增航线18条。 扩开放——1—7月，成渝航空枢纽旅客吞吐量达8092.7万人次，同比增长3%。今年上半年，中欧 班列（成渝）累计开行近3000列、保持全国第一。 8月26日，推动成渝地区双城经济圈建设重庆四川党政联席会议第十一次会议在重庆市召开。在成 果发布会上，这些问题得到了解答。 看成果 成渝地区双城经济圈建设积厚成势、整体跃升 今年以来，川渝两地携手并肩，推动成渝地区双城经济圈建设积厚成势、整体跃升。 成势、跃升，首先来自经济运行的稳中有进、量质齐升。聚焦建设具有全国影响力的重要经济中 心，今年以来，四川与重庆深化项目共建、消费共促、产业共育，320个共建项目1—7月完成投资2945 亿元、完成率达66.7%；协同打造"蜀里安逸·渝 ...

在"人工智能+"产业发展方面，意见提出，鼓励有条件的企业将人工智能融入战略规划、组织架构、业 务流程等，推动产业全要素智能化发展，助力传统产业改造升级，开辟战略性新兴产业和未来产业发展 新赛道。大力发展智能原生技术、产品和服务体系，加快培育一批底层架构和运行逻辑基于人工智能的 智能原生企业，探索全新商业模式，催生智能原生新业态。 此外，要推动工业全要素智能联动，加快人工智能在设计、中试、生产、服务、运营全环节落地应用。 着力提升全员人工智能素养与技能，推动各行业形成更多可复用的专家知识。加快工业软件创新突破， 大力发展智能制造装备。推进工业供应链智能协同，加强自适应供需匹配。推广人工智能驱动的生产工 艺优化方法。深化人工智能与工业互联网融合应用，增强工业系统的智能感知与决策执行能力。要创新 服务业发展新模式，在软件、信息、金融、商务、法律、交通、物流、商贸等领域，推动新一代智能终 端、智能体等广泛应用。 在"人工智能+"消费提质方面，意见提出，推动智能终端"万物智联"，培育智能产品生态，大力发展智 能网联汽车、人工智能手机和电脑、智能机器人、智能家居、智能穿戴等新一代智能终端，打造一体化 全场景覆盖的智能交互 ...

盘点这座城市的发展图谱，其高质量发展的核心动能愈发清晰：一个由华为、荣耀、比亚迪、中兴等龙 头企业牵引，无数专精特新企业协同的现代化产业集群，正成为城市经济韧性的基石与持续向前的引 擎。尤其在"工业立市、制造业强市"的战略背景下，智能制造已成为观察这座城市产业升级的关键窗 口。 从工业机器人产量实现超四成的高速增长，到人形机器人在真实场景中初步应用，再到一部折叠屏手机 的内部结构件精度被提升至微米级。这些成果的背后，是人工智能（AI）正加速渗透进生产一线，成 为重塑物理世界生产力的核心驱动。在这场深刻的产业变革中，深圳科技企业正通过其在智能制造领域 的探索，为深圳乃至"中国智造"的未来，提供了一个可供观察的样本。 一条高端产业链的"聚"与"变" 产业链上下游的紧密协同，在深圳的智能终端领域表现得尤为突出。一款旗舰产品的诞生，不仅是企业 研发的结晶，更是对整个产业链创新能力的一次整合与检阅。 8月26日，深圳经济特区迎来建立45周年。 国产供应商共享数据，共同提升设备精度。他们与AI协同，共同定义了"新工匠精神"——不再是单纯的 经验传承，知识、数据与创造力的融合。 以荣耀为例，7月初，荣耀在深圳发布其全新折叠 ...

一条高端产业链的"聚"与"变" 产业链上下游的紧密协同，在深圳的智能终端领域表现得尤为突出。一款旗舰产品的诞生，不仅是企业 研发的结晶，更是对整个产业链创新能力的一次整合与检阅。 以荣耀为例，7月初，荣耀在深圳发布其全新折叠旗舰Magic V5。发布会上，CEO李健选择了一种不同 寻常的方式开场，他没有罗列参数，而是分享了几个关于"一毫米"的研发故事。 据悉，在折叠屏铰链的研发中，行业一度面临0.04毫米的精度瓶颈，这已是人类手工技艺的巅峰，难以 满足大规模、高一致性的生产要求。为了突破这一极限，荣耀联合产业链伙伴，从零构建"AI鲁班大模 型"。 8月26日，深圳经济特区迎来建立45周年。 盘点这座城市的发展图谱，其高质量发展的核心动能愈发清晰：一个由华为、荣耀、比亚迪 （002594）、中兴等龙头企业牵引，无数专精特新企业协同的现代化产业集群，正成为城市经济韧性的 基石与持续向前的引擎。尤其在"工业立市、制造业强市"的战略背景下，智能制造已成为观察这座城市 产业升级的关键窗口。 从工业机器人产量实现超四成的高速增长，到人形机器人在真实场景中初步应用，再到一部折叠屏手机 的内部结构件精度被提升至微米级。这些成 ...

据证券之星公开数据整理，近期创维数字(000810)发布2025年中报。截至本报告期末，公司营业总收入 40.95亿元，同比下降8.04%，归母净利润5359.07万元，同比下降70.53%。按单季度数据看，第二季度 营业总收入22.96亿元，同比上升5.85%，第二季度归母净利润4826.33万元，同比下降36.18%。本报告 期创维数字公司应收账款体量较大，当期应收账款占最新年报归母净利润比达1188.31%。 本次财报公布的各项数据指标表现不尽如人意。其中，毛利率12.92%，同比减7.95%，净利率1.19%， 同比减69.64%，销售费用、管理费用、财务费用总计2.63亿元，三费占营收比6.43%，同比增5.47%，每 股净资产5.57元，同比增0.5%，每股经营性现金流-0.17元，同比减160.55%，每股收益0.05元，同比减 70.56% 财务报表中对有大幅变动的财务项目的原因说明如下：存货变动幅度为36.04%,原因:战略备料导致原材 料余额增加，客户提前备货导致产成品余额增加。固定资产变动幅度为14.08%,原因:惠州创维数字产业 园一期项目本期验收转固。在建工程变动幅度为-53.06% ...

据证券之星公开数据整理，近期创维数字（000810）发布2025年中报。截至本报告期末，公司营业总收 入40.95亿元，同比下降8.04%，归母净利润5359.07万元，同比下降70.53%。按单季度数据看，第二季 度营业总收入22.96亿元，同比上升5.85%，第二季度归母净利润4826.33万元，同比下降36.18%。本报 告期创维数字公司应收账款体量较大，当期应收账款占最新年报归母净利润比达1188.31%。 本次财报公布的各项数据指标表现不尽如人意。其中，毛利率12.92%，同比减7.95%，净利率1.19%， 同比减69.64%，销售费用、管理费用、财务费用总计2.63亿元，三费占营收比6.43%，同比增5.47%，每 股净资产5.57元，同比增0.5%，每股经营性现金流-0.17元，同比减160.55%，每股收益0.05元，同比减 70.56% | 项目 | 2024年中报 | 2025年中报 | 同比增幅 | | --- | --- | --- | --- | | 营业总收入(元) | 44.53 乙 | 40.95 Z | -8.04% | | 归母净利润(元) | 1.82亿 | 5359. ...

Core Viewpoint - The company has demonstrated significant transformation achievements, with high-tech business profitability exceeding 60%, becoming a new growth engine despite a challenging macroeconomic environment [1][2]. Financial Performance - In the first half of 2025, the company achieved operating revenue of 8.483 billion yuan and a net profit of 661 million yuan, showing a slight year-on-year decline due to external pressures [1]. - The LED industry chain segment reported operating revenue of 2.808 billion yuan, marking the highest performance for the same period in history, with a year-on-year growth of 8.67% and a net profit of 403 million yuan [2]. Business Segments Smart Terminal Business - The smart terminal business has undergone upgrades in globalization, production capacity, and market expansion, enhancing overall stability [3]. - The company established its first overseas production base in Vietnam, increasing annual production capacity from 2 million to 11 million units [3]. LED Industry Chain - The LED business has progressed from capacity leadership to technology and market leadership, with advancements in chip technology and production capabilities [4]. - The company has achieved significant growth in new display areas, with a market share exceeding 85% for products with a pixel pitch of 1.5mm and above [4]. Optical Communication Business - The optical communication business has rapidly developed, achieving operating revenue of 309 million yuan in the first half of 2025 [5]. - The company has secured long-term orders for BOSA devices, with a market share of 40% and plans for further product launches in 2026 [5]. Strategic Outlook - The company is embedding innovation into its development strategy, focusing on technological breakthroughs and market expansion to drive future growth [6]. - The transformation efforts are expected to create long-term value for investors and establish a solid direction for high-quality development in the next decade [6].

Core Viewpoint - The article emphasizes that vivo's launch of the Vision Explorer MR headset is not merely a trend-chasing move but a strategic extension based on user needs and technological advancements [6][21][26] Group 1: Market Context - The MR headset market is projected to grow significantly, with global shipments expected to reach 12.8 million units by 2025, a 26% increase year-on-year, while China's growth rate is anticipated to exceed 100% [5][9] - The smartphone has dominated the mobile internet for nearly 20 years, but MR headsets are emerging as the next potential mainstream device, unlocking capabilities beyond the limitations of 2D screens [4][5] Group 2: Product Features - The vivo Vision Explorer headset weighs only 398 grams, marking a significant reduction in weight compared to traditional MR headsets, making it more user-friendly [13] - It incorporates advanced technology such as the VST algorithm, which minimizes latency to 13ms, enhancing the integration of virtual and real-world experiences [13][17] Group 3: User Experience and Ecosystem - The headset aims to address user pain points by providing a lightweight, comfortable design and a diverse content ecosystem, moving from novelty to regular use [10][14] - Users can engage with immersive experiences, such as viewing spatial photos and videos captured by vivo devices, creating a compelling reason for daily use [14] Group 4: Strategic Importance - vivo's entry into the MR market positions it alongside global tech giants like Apple and Meta, marking a significant milestone for Chinese technology firms [22][23] - The development of the MR headset is seen as a foundational step towards integrating robotics and AI, leveraging vivo's extensive user data and technological capabilities [18][21] Group 5: Long-term Vision - The company envisions a future where smartphones, MR, and robotics coexist, addressing diverse user needs across various scenarios [14][21] - The article highlights the importance of sustained investment and ecosystem development over time, drawing parallels with the evolution of the PC and smartphone industries [22][24]

Investment Rating - The report maintains a "Recommended" rating for the company, indicating a positive outlook for its stock performance in the coming year [6]. Core Insights - The company reported a revenue of 2.345 billion yuan for the first half of 2025, representing a year-on-year growth of 27.35%. The net profit attributable to shareholders was 480 million yuan, up 24.29%, while the net profit after deducting non-recurring items surged by 64.12% to 475 million yuan [1]. - Multiple business segments are showing strong growth, with the automotive diagnostic business generating 694 million yuan (up 14.14%), ADAS products at 207 million yuan (up 17.22%), and TPMS products at 516 million yuan (up 56.83%). The energy intelligence hub (new energy charging) business achieved 524 million yuan (up 40.47%), and AI and software business reached 281 million yuan (up 30.13%) [2]. - The overseas charging station market is expanding, supported by initiatives in Europe and North America. The company has secured contracts for 50,000 commercial AC charging stations in North America, amounting to 238 million yuan [3]. - The company is implementing a strategy focused on embodied intelligence, enhancing its capabilities in autonomous operations and collaborative robotics [3]. Financial Projections - Revenue projections for 2025-2027 are 4.81 billion, 5.99 billion, and 7.50 billion yuan, with year-on-year growth rates of 22.4%, 24.4%, and 25.3% respectively. Net profit attributable to shareholders is expected to reach 940 million, 1.165 billion, and 1.463 billion yuan, with growth rates of 46.7%, 24.0%, and 25.5% [4][5]. - The current stock price corresponds to price-to-earnings ratios of 28, 22, and 18 for the years 2025-2027, reflecting a favorable valuation given the company's growth trajectory [4].

Core Viewpoint - TCL has appointed freestyle skier Eileen Gu as its global brand ambassador, aligning with the company's innovative spirit and commitment to excellence [1][3]. Group 1: Brand Representation - Eileen Gu embodies the spirit of the Z generation, representing a multi-faceted identity as a professional athlete, Stanford student, and fashion model, which resonates with TCL's brand philosophy of youthfulness and diversity [3][5]. - Gu's involvement with TCL includes her role in the "Team TCL" initiative, promoting the message of courage and excellence in the lead-up to the 2026 Milan Winter Olympics [3][11]. Group 2: Corporate Social Responsibility - TCL emphasizes its commitment to women's empowerment through its "TCLforHer" initiative, which aims to support women's development and achievements, aligning with Gu's advocacy for social causes [5]. - The TCL公益基金会 has supported 3,800 rural teachers and benefited 300,000 students, showcasing the company's dedication to education and community support [5]. Group 3: Business Operations - TCL operates through two main industrial groups, focusing on smart terminals, semiconductor displays, and renewable energy, with a global presence in over 160 countries [6][8]. - TCL华星, a key part of TCL's technology group, leads the semiconductor display sector and has established 11 panel production lines and 7 manufacturing and R&D bases [8]. Group 4: Future Outlook - TCL aims to leverage its partnership with the Olympics and Eileen Gu's athletic prowess to inspire resilience and excellence across various sectors [11].