Core Points - Starting from December 3, 2025, at 24:00, the city of Jinan will suspend the implementation of the 2025 subsidy program for replacing old home appliances and purchasing new mobile phones, tablets, and smartwatches (bands) [1] Summary by Category - **Policy Changes** - The subsidy program for home appliance replacement and new purchases of mobile devices will be paused [1] - Future adjustments to the policy will be announced separately [1]

今日，A股三大指数震荡上涨，截至上午收盘，沪指上涨0.42%，报3904.90点；深成指上涨0.95%，报13106.95点；创业板指上涨0.90%，报3080.16点；科创 50指数上涨0.77%，报1337.35点；北证50指数上涨2.05%，报1416.18点。 | = 999999 上证指数 | | | --- | --- | | | 104.017 | | | 158.0亿 | | 股时 | 5096.22 7. | | | 0.34亿 | | | 7389.59 Z | | 基金成3 | 1713.05 Z | | 最新指 | 3904.90 | | | 3894.21 | | | 3888.60 | | | 16.30 | | 双米明 | 0.42% | | 无量 | 16.03/0.41% | | | 5100.61亿 | | | 34959.4万 | | | 3906.98 | | | 3890.95 | 资金面，央行今日开展1076亿元7天逆回购操作，操作利率为1.40%，与此前持平。 消息面，瑞银证券中国股票策略分析师孟磊12月1日发表中国股票策略观点，认为2026年全部A股盈利增速有望 ...

Group 1 - The consumer electronics sector continues its recent upward trend, with notable stock performances including Pegatron reaching the daily limit and Transsion Holdings increasing by 8%, contributing to a 1.6% rise in the consumer electronics ETF, which has accumulated nearly 8% growth since November 25 [1] - The consumer electronics ETF has seen a net subscription of 12.8 million shares, with an estimated net inflow of 137 million yuan [1] - The gaming ETF also experienced a 1.14% increase, with a net subscription of 13.8 million shares and an estimated net inflow of 196 million yuan [1] Group 2 - The launch of the technical preview version of Doubao mobile assistant marks a collaboration between Doubao and mobile manufacturers in the AI assistant space [2] - Huawei's first AI emotional companion product "Hanhan" sold out immediately upon release, integrating Huawei's "Xiao Yi" large model for human-like voice interaction, positioned as an emotional "electronic partner" [2] - XREAL is set to release AR glasses Project Aura in collaboration with Google in December, highlighting the ongoing advancements in AI applications [3] Group 3 - The AI application sector is experiencing multiple short-term catalysts, with Google's launch of Gemini 3.0 accelerating AI application deployment and driving demand for computing power [3] - Domestic companies like Alibaba have officially released the public beta version of Qianwen, suggesting a bullish outlook on downstream AI applications as a "call option" for proactive investment [3] - The gaming ETF (159869) has a latest scale of 11.019 billion yuan, with a total net inflow of 3.8 billion yuan over the past 60 days, including major players like Gigabit, Kaiying Network, and Giant Network [3] - The consumer electronics ETF (159732) has tracked the National Consumer Electronics Index and has seen a total net inflow of 100 million yuan over three consecutive days, with key stocks including Luxshare Precision, Shenghong Technology, and Goertek [3]

Group 1 - The A-share market saw a continuous rise in the afternoon of December 1, with the Shenzhen Component Index and ChiNext Index both increasing by over 0.9%. The storage chip sector and photolithography machine concept experienced significant upward movement, while AI glasses and AI mobile phone sectors collectively surged. The ChiNext Software ETF Huaxia (159256) rose by 0.51% during the session, with its holding stock Runze Technology increasing by over 6% [1] - ByteDance and ZTE Corporation announced a joint development of an AI-native mobile phone, set to be released in early December. The product features a core breakthrough with the Doubao mobile assistant, which has system-level permissions and can execute complex commands across applications, marking a shift from "clicking icons" to "intent recognition" in interaction paradigms. The collaboration involves ByteDance leading the integration of the Doubao large model and AI interaction functionality, while ZTE is responsible for hardware development, production, and overall integration. The initial batch will have a supply of approximately 30,000 units, with a second-generation product already in the planning stage for release in the first half of 2026 [1] - In the AI industry chain, the software sector plays a crucial role in both the midstream technology layer and downstream application layer, providing essential technical support and facilitating the implementation of AI applications. Specifically, the software industry offers AI frameworks, development platforms, and algorithm models in the midstream, which are foundational for AI application development. In the downstream, the software sector integrates AI technology with various industries to promote the practical application of AI [1] Group 2 - CITIC Securities analysis indicates that the collaboration between ZTE and Doubao signifies a new phase of ecological collaboration between consumer electronics manufacturers and internet giants, with expectations that the global AI mobile phone penetration rate will exceed 35% by 2026, driving growth in orders across the industry chain [2] - Huachuang Securities further notes that the deep integration of the Doubao large model as a system-level capability will significantly expand the application boundaries of AI models, facilitating the deployment of AI functionalities in more scenarios [2] - Related products include ChiNext Software ETF Huaxia (159256), ChiNext 200 ETF Huaxia (159573), and Artificial Intelligence AI ETF (515070) [2]

针对外界可能引发的"字节跳动造手机"猜想，豆包方面在发布预览版的同时进行了明确澄清。官方强 调，这一工程样机仅用于功能体验与开发测试，豆包本身并无手机硬件开发计划。目前，豆包的战略重 心在于推进与多家手机厂商的助手合作落地计划，未来将持续优化模型响应速度与能力，专注于作为软 件与服务提供商，协助合作伙伴打造成熟的AI手机助手体验。 为了让开发者及核心用户更直观地验证这一AI系统的实际表现，首款搭载豆包手机助手技术预览版的 工程样机——nubia M153已开启限量发售。该机型作为双方合作的测试载体，旨在展示基于豆包大模型 能力与厂商系统授权下的新型交互逻辑。工程机搭载骁龙8至尊版处理器、6.78英寸屏幕，16G RAM+512G ROM，电池容量6000mAh，售价3499元。 凤凰网科技讯 12月1日 字节跳动旗下AI产品豆包今日正式对外展示了其在移动终端操作系统的最新落 地成果——"豆包手机助手"技术预览版。这标志着豆包大模型不再局限于应用层，而是通过与手机厂商 的操作系统层面合作，试图深度介入移动端的底层交互。 ...

Market Performance - The three major stock indices in Shanghai and Shenzhen opened higher on December 1, with the Shanghai Composite Index rising by 0.42% to 3904.90 points and a trading volume of approximately 510.1 billion yuan [2] - The Shenzhen Component Index increased by 0.95% to 13106.95 points, with a trading volume of about 716.6 billion yuan, while the ChiNext Index rose by 0.90% to 3080.16 points, with a trading volume of around 339.9 billion yuan [2] - The market showed mixed performance, with sectors such as non-ferrous metals, gold, and media entertainment leading the gains, while transportation equipment and multi-financial sectors faced declines [1] Institutional Insights - CITIC Securities suggests that despite potential short-term volatility, any downturn could present better investment opportunities, recommending a focus on strategic positioning ahead of the year-end market [3] - Huatai Securities anticipates improvements in fundamental expectations and macro liquidity in December, suggesting a balanced allocation between growth and cyclical sectors, particularly in aviation equipment and AI-related energy storage [3] - China Galaxy Securities emphasizes the importance of defensive sector allocations amid year-end style rotations, highlighting key areas such as artificial intelligence, new energy, and manufacturing sector recovery [4] Policy Developments - The State-owned Assets Supervision and Administration Commission (SASAC) emphasizes the need for strategic and professional restructuring, advocating for the merger of similar entities to enhance efficiency and avoid redundant competition [5]

12月1日，财经网科技联系vivo官方客服热线，对方表示，"您反馈的情况公司已经收到，我们也有向内 部反馈核实，我们始终重视每一位用户，致力于为大家提供优质服务。" 近日，据媒体报道，vivo官方直播间被曝多次人工置顶"用你们买吗集美戏真多，男人购买力够了 哈""不需要女用户哦，购买力太差"等充满性别歧视的言论，瞬间点燃舆论。 ...

IT之家向华为客户服务询问获悉， 5A 代表华为终端先进的通信技术 ，可以为用户带来更快接入、更快网速、更低时延、更稳连接的综合通信体验。 5A 当前支持 HUAWEI Mate 80 系列手机、HUAWEI Mate X7 系列折叠屏手机，其他产品具体以手机信号状态栏显示的信息为准。 在 11 月 25 日的华为 Mate 80 系列 | Mate X7 及全场景新品线上发布会上，华为常务董事、产品投资委员会主任、终端 BG 董事长余承东介绍了 5A 速度。IT之家也进行了实测， 华为 Mate 80 系列手机的 5A 速度"转正" ，支持在信号栏显示。 另外，华为 Mate 70 Air 手机今日（11 月 29 日）开启鸿蒙 HarmonyOS 6.0.0.115 SP6 版本升级，系统包大小约 677.60 MB。 据介绍，本次更新优化了智感握姿功能的使用体验（Mate 70 Air 首个 HarmonyOS 6 版本已支持智感握姿功能，但未显示在更新日志中）。 IT之家附华为 Mate 70 Air 本次更新内容如下： 系统 优化智感握姿功能的使用体验 更新注意事项: 1. 本次更新不会删除您的用户 ...

Core Insights - ByteDance's Doubao team has officially released a technical preview of the Doubao Phone Assistant, which is based on the Doubao large model and aims to enhance user interaction and functionality through deep collaboration with smartphone manufacturers [1] - There are market rumors suggesting that ByteDance is developing an AI phone named "Doubao Phone," with ZTE as the ODM manufacturer, expected to launch by the end of this year or early next year [1] - ByteDance clarified that the Doubao Phone Assistant is an AI assistant software developed in collaboration with smartphone manufacturers and that there are no plans to develop a phone independently [1] Company Developments - The Doubao Phone Assistant is currently available for developers and tech enthusiasts on the Nubia M153, a prototype developed in collaboration with ZTE, priced at 3499 yuan [1] - ZTE's stock experienced significant fluctuations following the announcement, with its A-shares hitting the daily limit up and trading volume exceeding 14 billion yuan, while its Hong Kong shares rose over 10% during intraday trading [1][2]

Market Overview - The market experienced a strong upward movement in early trading on December 1, with the Shenzhen Component Index and ChiNext Index both rising over 1%, while the Shanghai Composite Index returned above 3900 points [1] - The total trading volume in the Shanghai and Shenzhen markets reached 1.23 trillion yuan, an increase of 250.4 billion yuan compared to the previous trading day [1] - More than 3600 stocks in the market saw gains, indicating broad market participation [1] Sector Performance - The consumer electronics sector saw significant gains, with companies like ZTE Corporation, Tianyin Holdings, and Daoming Optics hitting the daily limit [1] - The non-ferrous metals sector was also active, with Silver Nonferrous and Minfa Aluminum reaching the daily limit [1] - The commercial aerospace concept continued its strong performance, with Aerospace Development achieving 8 limit-ups in 12 days [1] - Conversely, the wind power sector showed weakness, with Sany Renewable Energy dropping over 6% [1] Closing Summary - At the close of trading, the Shanghai Composite Index rose by 0.42%, the Shenzhen Component Index increased by 0.95%, and the ChiNext Index gained 0.9% [1]