4000 95% 92% 91% 3500 89% 88% 90% 3000 2500 85% 1500 1000 75% 500 70% 4月 5月 6月 7月 8月 9月 10月11月12月 1月 2月 3月 4月 5月 6月 7月 8月 9月 10月11月 2024年 2025年 5G手机占比 权威发布: 2025 年 11 月国内市场手机出货量 3016. 1 万部, 其中 5G 手机占比 91. 6%。 一、国内手机市场总体情况 2025年 11月,国内市场手机出货量 3016.1 万部,同比增长 1.9%,其 中,5G 手机 2761.4 万部,同比增长 1.1%，占同期手机出货量的 91.6%。 2025年 1-11 月,国内市场手机出货量 2.82 亿部,同比增长 0.9%,其中, 5G 手机 2.44 亿部，同比增长 1.3%，占同期手机出货量的 86.6%。 2 3500 100% 90%89% 88920922% 83%83%82%85%83% 90% 80%790 3000 80% 2500 70% 60% 2000 50% 1500 40% 30% 1000 20% 500 10% ...

Core Viewpoint - Lenovo Group plans to launch its first global "AI Super Intelligent Body" during CES, positioning it as a strategic application for the company [1][4] Group 1: Product Features - The AI Super Intelligent Body is designed to have capabilities similar to the Doubao mobile assistant but will offer more comprehensive functions and enable cross-device connectivity and coordination [1][4] - This application is not an operating system but a system-level application that connects different AI capabilities and hardware terminals, helping users coordinate multiple intelligent agents in the background [3][5] - It can interact with users through text, voice, and environmental awareness, learning personal habits over time [5] Group 2: Market Position - According to IDC data, Lenovo is the leading PC manufacturer globally, with a market share of 25.5% in the latest quarter [4][5] - Lenovo's Motorola smartphones shipped over 16 million units in the latest quarter, generating over $3.9 billion in revenue, with a global market share of 4.9%, ranking eighth in the global smartphone market [4][5] - This market position provides Lenovo's AI Super Intelligent Body with better system-level embedding permissions and collaboration advantages compared to ByteDance [4][5]

Core Insights - The Huawei XMAGE Annual Imaging Exhibition in Shanghai emphasizes the integration of technology and humanity, showcasing the theme "See the World, See You" [1][6] - The exhibition features four main sections that explore deep questions about connection and coexistence with the world [1] Group 1: Technology and Product Highlights - The Huawei Mate X7, a foldable flagship, showcases advanced imaging capabilities, including the second-generation Red Maple imaging technology, which enhances light intake by 96% and color reproduction by 43% [2][5] - The device's long-focus macro capabilities are highlighted by its F2.2 aperture and advanced lens system, which improves light intake by 86% compared to its predecessor, allowing for detailed imaging of both distant and close subjects [3][5] - The Mate X7 features an 8-inch inner screen that aids in composition through AI guidance, making it accessible for users without professional photography skills [4] Group 2: User Experience and Engagement - The exhibition allows visitors to experience the Mate X7's capabilities firsthand, breaking the perception that foldable screens are inferior to traditional smartphones in imaging performance [5][6] - Attendees can engage with various interactive experiences, enhancing their understanding of the device's features and the art of photography [6] - The exhibition runs until December 30, providing opportunities for consumers to explore the artistic aspects of imaging and the technological advancements of the Mate X7 [6]

Core Viewpoint - The discussion highlights the potential for gold prices to surge due to a crisis of trust in the US dollar and treasury system, with predictions of gold reaching nearly $2000 per ounce in 2025, reflecting a significant shift in global capital dynamics [1][11][12]. Group 1: Investment Strategies and Opportunities - The investment strategy for 2026 is suggested to be based on a "dumbbell strategy," focusing on dividend stocks on one end and investments that bet on national fortunes and growth on the other [6][83][84]. - Specific investment directions include AI edge applications, gold and non-ferrous metals, and opportunities in energy and technology sectors, particularly in response to US-China competition [7][85][68]. Group 2: Economic Context and Market Dynamics - The current economic landscape is characterized by a G2 competition narrative, with the US heavily investing in AI as a means to secure its economic future, which has led to a significant increase in the market capitalization of AI-related companies [13][14][96]. - The US AI sector faces challenges in forming a complete economic loop, as it lacks a robust manufacturing base to support the backend of AI applications, which may hinder its long-term success [3][120][121]. Group 3: Future Projections and Risks - There is a potential scenario where a collapse of the dollar could trigger an unprecedented rise in gold prices, with the possibility of a significant economic shift favoring China as it implements large-scale domestic policies akin to the Marshall Plan [4][82][114][115]. - The discussion emphasizes that the future of AI and its economic implications may ultimately rest with China, which possesses the necessary manufacturing capabilities and ecosystem to create a complete economic loop [38][122][128].

压缩版： 李想认为苹果是交互体验的标杆是做到了三点。1.定义了智能手机多点式触控的交互方式 2.优先关注 高频 3.克制 李想认为判断一个车机好用与否第一点是能否所有功能都用语音控制，李想自己90%以上功能用语音 控制 文字版： Q: 苹果为什么是交互体验的标杆？ 李想: 三点。 一、苹果定义了智能手机的交互方式，多点式触控。 当前AI多停留在语言智能阶段，缺乏对物理世界的感知。未来的方向是具身智能，即通过感知物理 空间（如识别乘客特征）提供主动服务（如自动调节座椅、主动接送），而非被动指令。目前AI发 展尚处于早期（类比1975年的PC或2007年的手机），仍有巨大进化空间。 当下的智能座舱只是手机搬上车，缺乏对物理世界的理解与端侧算力。 之后将没有车机座舱，而是将汽车定义为完整的具身智能（自动驾驶+空间智能+本体控制）， 本体 会从三电变成驱动三电，交互三电，操控三电 。AI座舱接下来将出现重大差异。 视频版： 克制其实很重要的，跟第一个也是结合的。 在苹果的软件商店不用担心点击到任何一个推广的广告 和一堆假的引导你下载。打开一个浏览器，也不会浏览器满屏幕都是广告。今天很多的手机浏览器连 输入网址都是个要 ...

在技术创新层面，蓝思科技持续聚焦前沿材料与工艺研发，始终以技术创新构筑核心竞争力。同时，公 司通过全球化生产布局与精细化管理，不断提升运营效率，为企业持续盈利与价值提升提供了有力保 障。 "金智奖"旨在树立高质量发展标杆，引导上市公司聚焦主业、持续创新、践行社会责任，推动资本向优 质企业集聚。本届评选中，金融界上市公司研究院紧密契合"十五五"规划建议中"提升上市公司质量"的 要求，将高质量发展内核分解为社会责任、实业贡献、投资回报、成长前景、创新效率、杰出品牌六大 维度，以企业财务数据和公开信息为基础建立量化分析模型，最终覆盖A股、港股及中概股超8000家企 业，评选出近200家获奖企业。 此外，蓝思科技积极践行社会责任，在实业贡献与投资者回报方面的持续投入，也成为其斩获该奖项的 重要支撑。未来将继续深耕主业、创新驱动，在巩固核心优势的同时加速新兴业务落地，为股东创造更 稳定的回报，为行业高质量发展贡献更多力量。 "投资价值上市公司"以资本价值与发展潜力为核心评判标准，聚焦财务健康度、行业赛道前景、核心竞 争力、公司治理规范性及可持续发展能力。旨在树立价值投资标杆，推动行业结构优化，引导市场回归 理性投资，构 ...

Core Viewpoint - Honor has launched its esports flagship series, the Honor WIN series, which includes two versions: Honor WIN and Honor WIN RT, with starting prices of 3999 yuan and 2699 yuan respectively. The series aims to cater to the esports community and will expand to include tablets and other products in the future [1][4]. Group 1: Product Specifications - The Honor WIN is equipped with the fifth-generation Snapdragon 8 Gen 2 chip, while the Honor WIN RT features the Snapdragon 8 Gen 2 variant [1][4]. - Both models come with the Honor Phantom Engine 3.0, Honor Dongfeng Turbo cooling, and a 3D butterfly VC cooling system [1][4]. - The entire series is powered by a 10,000mAh battery, supports 100W wired super fast charging, and 27W wired reverse charging. Additionally, the Honor WIN supports 80W wireless super fast charging [1][4]. - The devices feature a 185Hz ultra-high refresh rate esports display and support for six popular mobile games with GPU interpolation for enhanced frame rates [1][4]. Group 2: Camera Features - The Honor WIN series includes a 50MP main camera and a 12MP ultra-wide-angle lens, with the main camera supporting CIPA 5.0 flagship-level stabilization [2][5]. - The Honor WIN also features a 50MP telephoto portrait lens, offering 3x optical zoom and up to 100x digital zoom [2][5]. Group 3: Pricing and Promotions - The Honor WIN and Honor WIN RT are available in three color options: "Fast Black," "Designated Win," and "Not Afraid of Blue," with starting prices of 3999 yuan and 2699 yuan respectively [2][5]. - During the initial sales period, discounts of 100 yuan are available for specific configurations of both models, including the Honor WIN with 12GB+512GB, 16GB+512GB, and 16GB+1TB versions, and the Honor WIN RT with 12GB+256GB and 16GB+256GB versions [2][5].

Core Insights - Honor has announced a strategic partnership with the Delta Action Fire League, becoming the strategic partner for the 2026 Delta Action Fire League and Fire World Cup [1][3] - The Honor WIN series and the new Honor gaming laptop series will serve as the designated mobile phone and laptop for the Delta Action Fire League [1][3] Group 1: Product Features - The Honor WIN series is specifically designed to address the pain points and needs of esports players [1][3] - It is equipped with the fifth-generation Snapdragon 8 flagship chip, LPDDR5X, and UFS 4.1 [1][3] - The device features Honor's East Wind Turbo cooling system and Honor Phantom Engine 3.0, along with a 10,000mAh battery for enhanced battery life [1][3] Group 2: Industry Context - The game "Delta Action" has broken the experience barrier between mobile and PC platforms, supporting cross-platform data interoperability since its launch [1][3] - The 2026 Delta Action esports event will feature a larger scale, more events, and higher investment in a new Fire Zone event system [1][3] - Honor aims to support the Delta Action professional league's new phase with its annual esports phone and new gaming laptop combination [1][3]

Core Insights - The upcoming CES 2026 in Las Vegas is set to showcase significant advancements in AI technology, marking a shift from conceptual displays to practical applications in various industries [3][6][12] - Chinese companies, particularly in the embodied intelligence sector, are making a strong presence at CES, with many participating for the first time and aiming to establish their brand internationally [6][9][11] Group 1: Event Overview - CES 2026 will officially commence on January 6, featuring major tech companies and startups presenting their upcoming products and innovations [3] - The event is expected to have a heightened focus on AI, with numerous social activities organized by venture capital institutions, indicating increased interest and investment in AI technologies [3][6] Group 2: Key Presentations and Themes - AMD CEO Lisa Su will deliver a keynote on the latest developments in CPU, GPU, and AI software, while NVIDIA CEO Jensen Huang will also present significant advancements in AI technology [5][6] - The narrative of CES 2026 will center around how AI technology integrates with hardware products and industrial applications, emphasizing the importance of practical implementation [6][12] Group 3: Chinese Companies and Robotics - A notable influx of Chinese companies in the embodied intelligence sector is expected, with firms like Yushun Technology and Galaxy General showcasing their innovations and receiving international inquiries [8][9] - The participation of Chinese robotics companies aims to enhance brand visibility and secure overseas orders, reflecting a broader trend of Chinese firms expanding into international markets [9][11] Group 4: Industry Trends - The focus of CES is shifting from mere technological showcases to the deep integration of AI with real-world applications, indicating a transformative phase in the tech industry [12] - The event will also highlight the collaboration between various tech giants, showcasing a collective effort to build an ecosystem around AI technologies and their applications [12]

Group 1: Market Performance - The robotics sector led the market this week, with the National Robotics Industry Index rising by 5.8%, the CSI Consumer Electronics Theme Index increasing by 5.5%, the CSI Intelligent Electric Vehicle Index up by 4.4%, and the CSI Internet of Things Theme Index climbing by 4.2% [1] - The robotics ETF managed by E Fund (159530) attracted approximately 500 million yuan in net subscriptions over the first four trading days of the week, with an additional nearly 200 million yuan on the last day [1] Group 2: Company Developments - UBTECH recently announced a deal to acquire 43% of the shares of listed company Fenglong Co. through a combination of "agreement transfer + tender offer" [1] - Fenglong Co. possesses precision manufacturing capabilities, a mature supply chain system, and a broad customer base, focusing on the research and manufacturing of engines, hydraulic control systems, and automotive components [1] - Analysts suggest that UBTECH's acquisition of a component manufacturer may further solidify the manufacturing foundation for the commercialization of domestic humanoid robots, indicating a critical transition from technology validation to commercial implementation [1] Group 3: Industry Insights - The humanoid robot segment is highlighted as having a high content ratio, accounting for nearly 80% of the robotics industry [3] - The CSI Intelligent Electric Vehicle Index is expected to represent a significant direction for embodied intelligence, covering various aspects of the industry chain, including power systems, perception systems, decision-making systems, execution systems, communication systems, and vehicle production [4] - The CSI Consumer Electronics Theme Index focuses on AI hardware, which is currently a major category of smart terminal products, involving companies engaged in component production and complete machine design and manufacturing [5] - The CSI Internet of Things Theme Index emphasizes the IoT as a crucial foundation for achieving connectivity among smart terminals, comprising stocks from companies involved in information collection, transmission, and IoT applications [6]