根据巨灵统计的数据，近30天（11.9-12.9）共有668只基金产品的基金经理发生离职。其中今天（12.9）有11只基金产品发 布基金经理离职公告，涉及6名基金经理。从变动原因上来看，有4位基金经理是由于工作变动而从管理的8只基金产品中离 职。有2位基金经理是由于个人原因而从管理的3只基金产品中离职。 博道基金杨梦现任基金资产总规模为207.67亿元，管理过的基金多为股票型和指数型基金，任职期间回报最高的产品是博 道中证500增强A（202027），为指数型基金，在任职的6年又342天时间内获得171.58%的回报，至今仍在管理该基金。 新基金经理上任方面，其中今天（12.9）有4只基金产品发布基金经理任职公告，涉及3名基金经理。平安基金韩晶现任基 金资产总规模为29.69亿元，管理过的基金多为混合型和债券型基金，任职期间回报最高的产品是银河收益混合 （151002），为混合型基金，在任职的8年又261天时间内获得150.15%的回报。韩晶新任平安添享6个月持有期债券A、平 安添享6个月持有期债券C这两只基金产品的基金经理。 12月9日，A股三大指数涨跌不一，截至收盘，沪指跌0.37%报3909.52点，深 ...

Group 1 - The A-share market achieved multiple historical records in 2025, with a significant recovery in market confidence driven by technology and new consumption [2][14] - The total market capitalization of A-shares surpassed 100 trillion yuan in June 2025, and trading volume reached a historical high in August, indicating deep recovery in market participation and confidence [14] - The rise of new consumption, exemplified by successful products like Labubu and the global box office success of "Nezha 2," injected new growth momentum into the consumption sector [14] Group 2 - After the National Day holiday, the market experienced fluctuations, particularly in the technology sector, due to both external factors like the Federal Reserve's interest rate expectations and internal profit-taking [15] - Despite short-term volatility, the core narrative supporting market optimism remains unchanged, with expectations of a reasonably ample domestic liquidity environment and gradual recovery in corporate earnings [15] Group 3 - The market style in 2026 is expected to become more balanced and refined, moving away from being dominated by a single style [16] - The investment focus is anticipated to shift towards AI applications, with a transition from infrastructure to actual applications and commercialization [16] - Companies with solid performance in AI applications, domestic substitution, and overseas expansion are likely to attract market attention due to their high growth potential [16] Group 4 - From a financial perspective, 2026 may exhibit characteristics of "profit handover," with key areas of focus including the "computing power-storage-power-manufacturing" chain and the commercialization of application endpoints [17] - Monitoring order and profit recovery progress will be crucial, alongside attention to supply-side reforms and capital market optimizations [17] Group 5 - The key investment factor in 2026 is expected to be the ability to deliver on fundamental performance, with a shift in market scrutiny towards the quality of earnings growth and sustainability of business models [18] - Companies with core technologies and clear commercialization paths in sectors like AI, pharmaceuticals, and high-end manufacturing are likely to stand out [18] Group 6 - Positive factors include ongoing anti-involution policies improving the corporate profit environment and a long-term trend of asset allocation towards equity markets, potentially leading to substantial incremental capital [19] - The upward trend in industries like AI, semiconductors, and smart vehicles may provide clear investment lines [19] Group 7 - Opportunities are expected to arise in new consumption areas, particularly those integrating AI technology, such as intelligent companionship and interactive entertainment [21] - The AI computing infrastructure and consumer electronics driven by AI innovations are anticipated to see significant growth, alongside the international expansion of healthcare sectors [21]

数码家电行业 周度市场观察 行业环境 头部品牌动态 投资运营 产品技术 营销活动 2025/10.27-11.2 01 行业趋势 2. AI场景新风口来袭：手机AI智能体开启智能经济"新蓝海" 关键词：AI智能体,终端领域,智能经济,自进化,端云协同 概要：手机AI正从传统语音助手升级为以AI智能体为核心的"自进化AI原生手机"，成为智能 经济的关键力量。荣耀、华为等厂商通过端云协同技术，推动AI智能体在购物、出行等场景中 实现主动服务，重构消费模式。例如，荣耀YOYO智能体可自动领券，华为小艺等也在加速进化。 这一变革将手机从"硬件+应用"组合升级为"智能服务中枢"，催生新商业模式。厂商通过开 源、生态协作等方式解决数据隐私、跨应用执行等挑战，推动行业从"单点突破"转向"生态 共荣"，共同挖掘百亿级智能经济潜力。 Industry Trends 本周看点： eSIM手机成新趋势，华为、vivo们的路径分野； AI场景新风口来袭：手机AI智能体开启智能经济"新蓝海"； 会叠衣服的中美机器人，谁离具身智能更近？ 行业环境： 1. eSIM手机成新趋势，华为、vivo们的路径分野 关键词：eSIM手机,无卡时代, ...

Core Viewpoint - Apple has opened its sixth retail store in Beijing, enhancing its presence in the Chinese market and aiming to provide personalized support and experiences to customers [1] Group 1: Store Opening Details - The new Apple retail store, located in Daxing District, Beijing, officially opened on December 6 [1] - This store is the 59th in Greater China and aims to strengthen connections with local residents and tourists [1] Group 2: Historical Context - Apple's first retail store in Greater China opened in Beijing's Sanlitun in 2008 [1] - Since then, the five existing Apple retail stores in Beijing have welcomed over 150 million customers [1] Group 3: Company Statements - Deirdre O'Brien, Senior Vice President of Retail and People at Apple, emphasized the company's commitment to engaging with Chinese customers [1] - Yang Bo, Director of Retail for Northern China, highlighted the significance of Beijing as the starting point for Apple's retail operations in the region [1]

Group 1 - The A-share consumer electronics sector is active, with significant gains in ETFs such as E Fund Consumer Electronics ETF and Fortune SG Consumer Electronics ETF, both rising over 45% year-to-date [1] - Major companies like Shengyi Electronics and Industrial Fulian have seen stock increases of over 6%, contributing to the overall growth of the consumer electronics ETFs [1] - Google's recent launch of the Project Aura smart glasses, the first consumer-grade AR glasses powered by the AndroidXR platform and GeminiAI, is set to hit the market in 2026, indicating a growing trend in AI-integrated wearable technology [1] Group 2 - Major tech companies are actively entering the AI glasses market, with Google collaborating with Qualcomm, Samsung, and Foxconn for product development, while Apple is planning to launch its Apple Glasses in 2026 [2] - The smartphone industry is witnessing a surge in AI integration, with leading manufacturers like Apple, Vivo, OPPO, and Honor releasing new flagship models that emphasize AI capabilities [2] Group 3 - Global smartphone shipments increased by 2.09% year-on-year in Q3 2025, while shipments in China decreased by 0.60% during the same period [3] - Global PC shipments rose by 8.21% year-on-year in Q3 2025, indicating a recovery in the market [3] Group 4 - The foldable smartphone market is expected to rebound, with Apple planning to release its first foldable iPhone in 2026, which could enhance consumer acceptance of foldable devices [4] - The integration of AI with hardware is driving a transformation in the industry, moving from traditional hardware iterations to an "AI + scenario" ecosystem [4] - Companies like Industrial Fulian and Luxshare Precision are highlighted for their global manufacturing capabilities, while firms in the AI glasses sector, such as Crystal Optoelectronics and GoerTek, are noted for hardware innovation [4]

北京时间12月9日，谷歌在以"The Android Show:XR Edition"为主题的特别发布会上，正式公布了其安卓 XR生态系统的发展计划，包括与三星、XREAL等合作的三款不同定位的智能眼镜，以及面向安卓XR 开发者的整套SDK与API升级。 在视频和博客中，谷歌展示了大模型Gemini融入智能眼镜的各种可能性，包括日常对话的翻译、知识问 答，娱乐方面提供游戏建议，以及通过眼镜调用Nano Banana进行P图等。 通过这些产品计划，谷歌正在与苹果、Meta形成直接竞争。 谷歌曾在多年前推出智能眼镜Google glass但最终折戟，伴随着生成式AI的发展和智能硬件供应链的成 熟，谷歌再战AI眼镜。 谷歌目前并未透露Project Aura 的具体零售名称、电池续航数据及最终定价，一切需要在2026年揭晓。 最后，在轻量化设备上，谷歌将与三星、Gentle Monster和Warby Parker合作，设计两款时尚轻便、佩戴 舒适的眼镜。谷歌提到，首批此类眼镜将于明年上市。 其中一款是无屏幕辅助的AI眼镜，内置扬声器、麦克风和摄像头，用户可以与Gemini自然对话、拍照 和获取帮助。 其次是显示型 ...

Core Viewpoint - The article emphasizes that despite the narrative of declining American manufacturing, the U.S. remains a leading manufacturing power globally, significantly outpacing Europe and Japan, particularly in high-end manufacturing sectors [2]. Group 1: Major Manufacturing Giants - Lockheed Martin is the largest defense contractor in the U.S., consistently topping Pentagon procurement lists with products like the F-22 and F-35 fighter jets, and the Perseverance Mars rover [4]. - General Electric (GE), founded by inventor Thomas Edison, is a leader in aviation engines, with the CFM56 engine being one of the most successful in aviation history, and the LEAP engine dominating orders for Airbus A320 and Boeing 737 [6]. - Caterpillar is the world's largest manufacturer of construction machinery, known for its advanced diesel engine technology and the 797F mining truck, which can carry 400 tons of ore [8]. - 3M is the largest manufacturer of specialty materials, with its iconic transparent tape and a wide range of products used across various industries [10]. - Boeing is the largest aerospace manufacturer globally and the second-largest defense contractor in the U.S., producing a range of military and commercial aircraft [11]. - Johnson & Johnson is the highest revenue and market cap healthcare company, with innovative products contributing significantly to its income, including a projected $56.9 billion from its pharmaceutical segment in 2024 [13]. - Honeywell provides essential technology for aircraft, including flight management systems and is one of the few manufacturers of black boxes [15]. - Apple commands 19% of the global smartphone market but captures 80% of the industry's profits, leading in innovation with products like the iPhone and Apple Watch [17]. - NVIDIA, despite a recent stock price drop, remains the highest-valued company globally, with a market cap exceeding $4.3 trillion, and continues to dominate the AI chip market [19]. - ExxonMobil, with a history dating back to 1870, is one of the largest oil companies globally, with projected revenues of $350 billion in 2024 [21]. Group 2: Manufacturing's Economic Impact - Over 60% of the U.S. service industry supports manufacturing, indicating that the contribution of manufacturing to GDP exceeds 60%, reinforcing the U.S.'s status as a manufacturing powerhouse [21]. - The U.S. has been advocating for the return of manufacturing to reduce dependency on Chinese supply chains, highlighting the importance of recognizing this reality in the context of international competition [21].

消电ETF（561310）跟踪的是消费电子指数（931494），该指数从市场中选取涉及智能手机、家用电 器、可穿戴设备等消费电子产品相关业务的上市公司证券作为指数样本，以反映消费电子行业在技术创 新和品牌影响力方面表现突出的上市公司证券的整体表现。 东海证券指出，电子行业需求持续复苏，供给有效出清，存储芯片价格上涨，国产化力度超预期。摩尔 线程登陆科创板，募资主要用于新一代AI与图形芯片研发，展现了我国在自主算力产业持续投入的战 略决心。美光宣布逐步退出Crucial消费级存储业务，专注AI及数据中心等高增长领域，反映出存储芯片 市场供应短缺、价格上行的趋势。当前电子行业结构性机会集中在AI算力、AIOT、半导体设备、关键 零部件和存储涨价等领域。半导体板块方面，国内晶圆厂产能满载，中芯国际三季度产能利用率与ASP 双增，显示行业景气度回升。 （文章来源：每日经济新闻） ...

Core Insights - The AI glasses market is entering a new phase of scaled growth, with significant participation from major tech players like Google, Alibaba, Xiaomi, and others [2][3][4] Group 1: Market Developments - Google announced the development of two types of AI glasses, with the first model expected to launch in 2026, in collaboration with partners like Samsung and Warby Parker [2] - The global smart glasses market is projected to reach 12.8 million units shipped in 2025, a 26% year-on-year increase, with China's market expected to grow by 107% to 2.75 million units [3] - Research firm Wellsenn XR predicts annual sales of AI glasses will exceed 55 million units within the next decade, reaching 1.4 billion units by 2035 [3] Group 2: Stock Market Performance - Over 40 concept stocks related to the AI glasses industry have emerged in the A-share market, with a combined market capitalization exceeding 1.8 trillion yuan [4] - AI glasses concept stocks have seen an average increase of 16.35% this year, with companies like Jiangbolong and Bawei Storage experiencing cumulative gains of over 50% [4] - Jiangbolong's stock has surged by 217.44% since 2025, making it the top performer among AI glasses-related stocks [4][5] Group 3: Institutional Interest - Nine AI glasses concept stocks have been subject to over ten institutional research sessions this year, with Jiangbolong leading at 56 sessions [4][6] - Longli Technology and Yidao Information follow with 34 and 24 research sessions, respectively, indicating strong institutional interest in these companies [5][6] - The funding landscape shows that six AI glasses concept stocks have seen net purchases exceeding 100 million yuan since December, highlighting investor confidence [6]

Core Viewpoint - Samsung has officially showcased its first tri-fold smartphone, the Galaxy Z TriFold, which features advanced technology and design, entering the foldable phone market a year after Huawei's similar product launch [2][35]. Group 1: Product Features - The Galaxy Z TriFold utilizes a unique "G" type folding mechanism, which is designed to protect the internal main screen and ensure consistent stress distribution during folding [11][44]. - It is the world's first tri-fold smartphone that supports IP48 level dust and water resistance, making it a standout in the market [18][51]. - The device features a 10-inch display with impressive brightness, color performance, and detail, enhancing the visual experience significantly [16][49]. - The phone is equipped with a customized Snapdragon 8 Elite mobile platform, a 200-megapixel camera, and the largest battery ever in a Samsung foldable phone, along with a 120Hz refresh rate and 1600 nits peak brightness [23][56]. Group 2: User Experience - The Galaxy Z TriFold offers enhanced multi-tasking capabilities, allowing users to run multiple applications simultaneously on its large screen, which is particularly beneficial for productivity [25][59]. - The device supports Samsung DeX, enabling it to function as a secondary display for computers, thus improving mobile office capabilities [32][65]. - Users can customize their workspace by adjusting application window sizes and positions, similar to a PC environment, facilitating a more efficient workflow [28][61]. Group 3: Market Context - The global foldable smartphone market has seen a slowdown in growth, with the overall market size not meeting industry expectations, indicating a shift in consumer interest towards other innovative products like AI glasses and XR devices [33][66]. - Samsung's entry into the tri-fold market comes after a significant delay compared to domestic competitors, raising questions about its impact on the foldable smartphone landscape, especially with the anticipated release of Apple's foldable device next year [33][66].