记者丨李益文 编辑丨叶映橙 11月14日，苹果与三宅一生（ISSEY MIYAKE）联合推出的全新配件iPhone Pocket正式开 售，短带款售价1299元、长带款售价1899元。中国大陆仅在上海Apple静安零售店和苹果官网 有售。 截至14日上午，售价1899元的长款iPhone Pocket已显示售罄。 这款配件在转售市场也引发 热议，据得物App数据显示，iPhone Pocket长款市场价已上涨至2939元，短款价格也达到 1699元，较官方售价最高溢价超1000元。 目前，市场对这款高价手机包的反应呈现两极分化趋势。有人认为其制作和样式简单，"马上 就有人用钩针钩出来""不值得这个价""像毛裤"。也有人表示，挂在包上不用掏半天手机，还 挺实用。 记者以消费者身份咨询多家店铺，客服均表示产品与正品 "款式一样，标签看不出区别"，直 言属于 "1 比1复刻"。当被问及是否担心侵权问题时，一家店铺工作人员坦言使用的是"非原 标"，但仍强调是"1比1"复刻。 不过，在正品热销的同时，电商平台上的仿制品也已悄然上架。21财经·南财快讯记者调查发 现，多家电商店铺已开始销售与iPhone Pocket外形 ...

Investment Rating - The report maintains an "Outperform" rating for the industry, indicating a positive outlook for investment opportunities in the sector [6]. Core Insights - Apple is entering a significant product innovation cycle, with new product launches expected to drive sales growth. The FY2025 revenue is projected to reach $416.16 billion, reflecting a year-on-year increase of 6.43% [1][33]. - The introduction of Apple Intelligence is expected to enhance user experience through deep integration of software and hardware, leading to hardware upgrades and increased sales [2][56]. - The report highlights the potential for new product categories, including a foldable iPhone and smart home devices, which could open new growth avenues for Apple [3][4]. Summary by Sections Product Matrix and Financial Performance - The 2025 September product launch showcased a comprehensive refresh of Apple's product matrix, including the iPhone, Apple Watch, and AirPods, with significant advancements in camera technology and 5G support [1][20]. - FY2025 revenue growth is primarily driven by iPhone sales, which are expected to increase by 4.18% year-on-year, maintaining its status as the main revenue source for Apple [33][38]. Apple Intelligence and Hardware Upgrades - Apple Intelligence is deeply embedded in Apple's ecosystem, focusing on enhancing efficiency while protecting user privacy. It includes features like real-time translation and health monitoring, which require significant hardware upgrades [2][31][56]. - The A19 Pro chip in the iPhone 17 series boasts a 50 TOPS NPU, significantly enhancing AI capabilities, while the M5 chip in Macs shows a fourfold increase in GPU performance compared to its predecessor [2][64][69]. Future Growth Opportunities - The report anticipates the launch of a foldable iPhone by 2026 and a shift towards lighter wearable devices, such as Apple Glass, indicating a strategic pivot in product offerings [3][4]. - The investment recommendation emphasizes the potential benefits for supply chain companies like Luxshare Precision, Crystal Optoelectronics, and Lens Technology, which are expected to gain from Apple's product upgrades and innovations [4][5].

Core Insights - The consumer electronics sector experienced a decline of 3.49% on November 14, with major losses led by Xiechuang Data [1] - The Shanghai Composite Index closed at 3990.49, down 0.97%, while the Shenzhen Component Index closed at 13216.03, down 1.93% [1] Stock Performance - Notable gainers in the consumer electronics sector included: - Jiale Technology (002855) with a closing price of 19.47, up 10.00% [1] - Heertai (002402) with a closing price of 48.77, up 5.91% [1] - Zhuoman Technology (002369) with a closing price of 9.02, up 3.68% [1] - Major decliners included: - Xiechuang Data (300857) with a closing price of 149.00, down 7.52% [2] - Industrial Fulian (601138) with a closing price of 64.27, down 5.47% [2] - Deep Technology (000021) with a closing price of 24.74, down 5.43% [2] Capital Flow - The consumer electronics sector saw a net outflow of 3.475 billion yuan from main funds, while retail investors contributed a net inflow of 2.757 billion yuan [2]

Core Insights - Apple has selected High Mobility Oxide (HMO) as a replacement technology for Low-Temperature Polycrystalline Oxide (LTPO) and is advancing related research [1][2] - HMO technology aims to enhance the electronic mobility of oxide TFTs while retaining the low leakage current and low processing temperature advantages [1] - Compared to LTPO, HMO offers lower power consumption and reduced manufacturing costs, simplifying the required equipment and process flow [1] Summary by Sections HMO Technology Development - Apple is currently in discussions with South Korean display panel manufacturers regarding the development of HMO technology [2] - The specific application scenarios for HMO technology are not yet clear, but it is speculated that Apple aims to expand the use of oxide technology, traditionally dominant in large displays, into IT and mobile devices with smaller OLED products [2] Historical Context - Apple first applied for LTPO patents in 2014 and introduced it in the Apple Watch 4 in 2018, followed by its application in the iPhone 14 Pro Max in 2022 [2] - Based on this trajectory, it is expected that products featuring HMO TFT technology from Apple may take several years to be released [2] Industry Impact - Industry insiders suggest that if Apple, which has historically driven LTPO technology, successfully advances HMO technology, it could significantly alter the landscape of the industry [4]

你对当下市场，适应了多少？ 两个字概括，本月以来A股的风格是"震荡"： （1）尽管沪指创出新高，但整个A股仍未突破10月底的高点。双创板块还有不小回调。 （2）板块轮动带来"结构性"机会。即选对了方向能大赚，没选对的可能亏得不多，却也体验不佳。 但也有一些规律性的东西，比如市场的"上有顶""下有底"。 统计显示，9月5日迄今共计经历了10个周五、9个周一。 而以万得全A指数为代表，这段时间里，A股在周五下跌的概率为80%，但在周一上涨的概率超过 90%。 11月14日，市场全天震荡调整，沪指跌近1%，创业板指跌近3%。截至收盘，沪指跌0.97%，深成指跌 1.93%，创业板指跌2.82%。 板块方面，海南、燃气、医药、福建等板块涨幅居前，存储芯片、CPO等板块跌幅居前。 全市场超3300只个股下跌。沪深两市成交额1.96万亿元，较上一个交易日缩量839亿。 不知不觉，11月行情已经过半。在展开今日复盘之前，先问一个问题： 而据数据，14:06~15:00，对沪指走弱影响最大的，是银行、半导体、消费电子、白酒等板块的权重 股。创业板方面，CPO三巨头"易中天"再度走弱，同样压制了指数。 | 名称 ▼ | 日期 ...

11月14日，以"科技赋能产业 融合共创未来"为主题的第二十七届中国国际高新技术成果交易会（简 称"高交会"）在深圳正式开幕。本届高交会汇聚来自全球100多个国家和地区的5000多家知名企业及国 际组织参展，5000余项代表全球科技前沿的新产品、新技术、新成果集中展示。通过持续推动全球科创 力量汇聚与高水平创新资源对接，高交会已成为我国高新技术领域高水平对外开放的重要窗口与高新技 术成果交流交易的关键桥梁。 打造全球科创引擎：22大展区勾勒高新技术产业新蓝图 高交会立足深圳，持续擦亮"中国科技第一展"品牌，致力于建设成为服务国家战略、链动全球科技合 作、提升自主创新水平的重要平台，积极融入国家实现高水平科技自立自强的宏伟进程，为贯彻落实党 的二十届四中全会提出的"到二〇三五年基本实现社会主义现代化"宏伟目标提供支撑。 我国正加快实现高水平科技自立自强，全面增强自主创新能力，强化原始创新与关键核心技术攻关，推 动科技创新与产业创新深度融合。深圳深入实施创新驱动发展战略，加快打造具有全球重要影响力的产 业科技创新中心，全社会研发投入连续9年保持两位数增长，总量和强度位居全国城市前列；累计国内 专利授权量连续7年居 ...

Market Overview - The market experienced a day of volatility, with the Shanghai Composite Index falling nearly 1% and the ChiNext Index dropping close to 3%. The total trading volume in the Shanghai and Shenzhen markets was 1.96 trillion yuan, a decrease of approximately 839 billion yuan compared to the previous trading day [1][8]. Sector Performance - The lithium battery sector continued to show strength, with companies like Furi Technology achieving a seven-day consecutive rise and Shida Shenghua recording three consecutive gains [3]. - The Fujian sector surged against the trend, with Pingtan Development and Haixia Environmental Protection hitting the daily limit [4]. - The gas sector also performed well, with Shouhua Gas reaching a 20% limit up [4]. - Flu season-related stocks were active, with Jindike achieving three gains in five days and Zhongsheng Pharmaceutical recording two gains in three days [5]. - The Hainan sector was notably active, with Hainan Haiyao hitting the daily limit [6]. - In contrast, the storage chip sector faced significant declines, with Baiwei Storage dropping over 10% [7]. Trading Activity - The trading volume in the Shanghai market was 837.97 billion yuan, while the Shenzhen market accounted for 1.12 trillion yuan [8]. - The top traded stock was Sungrow Power Supply, with a trading volume of 12.33 billion yuan, followed by companies like Zhaoyi Innovation and Zhongji Xuchuang with volumes of 11.53 billion yuan and 11.51 billion yuan, respectively [8].

11月14日，苹果公司最新推出的一款名为iPhone Pocket的配件已正式发售，高达1299元/1899元的定价已引发热议。 此前，苹果公司于11日宣布与日本时尚品牌三宅一生（ISSEY MIYAKE）合作，推出限量版配件iPhone Pocket。简单来说，可将其视作一个用于收纳iPhone 及其他随身物品的小口袋。 据苹果方面介绍，其设计灵感源于"一块布"(a piece of cloth) 理念，采用独特的"一体成型的3D针织结构"。拉伸时，开放式织物会显露出内部物品，用户仍 能透过开放式织物看到屏幕内容。既可手持使用，也可系在包袋上，或直接佩戴于身体，可容纳手机、AirPods及其他日常随身物品。 "苹果和三宅一生在设计理念上有着共同之处，那就是崇尚精湛工艺、简约风格和愉悦体验，"苹果公司工业设计副总裁莫莉·安德森在声明中表示。她补充 道："这个巧妙的额外口袋正是这些理念的体现，也是我们产品的自然延伸。它标志性的轮廓为携带您的iPhone、AirPods和日常用品提供了一种美观的新方 式。" 此外，美国有线电视新闻及华尔街日报等外媒还指出，苹果与三宅一生的合作由来已久。该品牌已故的创始人三宅一生曾 ...

Core Points - Apple has officially launched the iPhone Pocket in collaboration with Issey Miyake, available in two versions: long and short, priced at 1899 yuan and 1299 yuan respectively [1] - The long version sold out quickly in the cinnamon color on the launch day, with market prices showing a premium of 500 yuan, reaching 2399 yuan for the long version and 1699 yuan for the short version on resale platforms [4] - The pricing of the iPhone Pocket has sparked debate among consumers, with some criticizing its value compared to cheaper alternatives, while others appreciate its unique design [5] Product Details - The iPhone Pocket is available in eight colors for the short version and three colors for the long version, showcasing a variety of aesthetic options for consumers [1] - The product's design has drawn comparisons to a "long sock," leading to mixed reactions regarding its price point [5] Market Performance - The immediate market response indicates a strong demand, as evidenced by the quick sell-out and the significant price increase on resale platforms [4] - Historical context shows that Apple has successfully launched various accessory products in the past, such as the iPod Socks and collaborations with luxury brands, which have also seen high resale values [26] Brand Strategy - The collaboration with Issey Miyake highlights a deep-rooted brand connection, as the designer previously created iconic pieces for Apple co-founder Steve Jobs [27] - Apple's strategy of partnering with luxury brands aims to enhance brand value and consumer perception, balancing functional and brand value in its accessory offerings [27] - Despite ongoing controversies regarding pricing and design, the market's positive reception suggests a willingness among consumers to pay for design and brand heritage [27]

中国经济网北京11月14日讯 海能实业(300787.SZ)昨日发布关于持股5%以上股东减持股份的预披露公 告。 持有公司1,892.16万股的股东周洪军(占公司总股本的6.04%)，因股东归还个人债务需要，拟于公告披露 之日起15个交易日后的3个月内（即2025年12月5日至2026年3月4日），通过大宗交易和集中竞价方式减 持公司股份不超过940.29万股，即不超过公司总股本的3%。 海能实业首次公开发行股票的发行费用总额为7,758.02万元，其中，承销及保荐费5,300.00万元。 根据海能实业披露的2023年度募集资金存放与使用情况的专项报告，经中国证券监督管理委员会出具的 《关于同意安福县海能实业股份有限公司向不特定对象发行可转换公司债券注册的批复》（证监许可 〔2023〕225号）批准，公司向不特定对象发行的可转债共计6,000,000张，每张面值为人民币100元，募 集资金总额为60,000.00万元，扣除应付公司保荐及承销费用人民币8,480,000.00元（含税）后，余额人 民币591,520,000.00元已于2023年4月19日汇入公司开立的募集资金专项账户内。本次发行过程中，公司 应 ...