这年头的消费观彻底反了！消费者手头宽裕时，挑手机挑花眼，安卓旗舰、折叠屏换着尝鲜，未必看得 上iPhone；可一旦钱包收紧，反而扎堆冲苹果，甚至宁愿分期也要拿下，这不是玄学，是当下手机市场 最真实的现状。 为啥会出现这种反差？核心就藏在"没钱时更怕亏"的消费心理里。有钱的时候，大家追求新鲜感，国产 旗舰的百瓦快充、一英寸大底、炫酷折叠形态，随便一个卖点都能勾起换机欲，花几千块尝鲜不心疼， iPhone的稳重反而成了"没新意"。可没钱了就不一样，每一分钱都要花在刀刃上，比起花里胡哨的功 能，大家更看重"确定性"——能不能用得久、会不会掉价快、用着省心不折腾。 而iPhone恰恰踩中了这份"务实刚需"。一部iPhone正常用四五年不卡顿，iOS系统的流畅度和长期优化， 是多数安卓机比不了的。身边不少人三年前的iPhone 14，如今刷视频、办公依旧丝滑，反观同期的安 卓旗舰，要么卡顿闪退，要么早就停更系统。没钱的时候，没人想一年一换机，比起花3000买个用两年 就卡的安卓，咬咬牙买个6000的iPhone，平摊到每年反而更划算，这是实打实的"长期性价比"。 更关键的是iPhone的保值率，堪称手机界的"硬通货"。 ...

Group 1 - The core viewpoint of the articles indicates that despite an overall decline in the Chinese smartphone market in 2025, brands like Apple, OPPO, and Xiaomi are experiencing growth, with OPPO leading the Android segment with a growth rate of 106% [1] Group 2 - IDC forecasts that the ongoing increase in cost structures will significantly pressure global smartphone manufacturers, with a consensus in the industry that the overall price range of new flagship models is rising [3] - The high-end market shows relatively low price sensitivity, as consumers demonstrate strong purchasing intent when products feature significant technological breakthroughs and innovative experiences [3] - OPPO's product lineup this year has received positive market feedback, with the Reno14 model ranking first in sales across all price segments during the summer, and the Find X9 series experiencing notable sales growth in international markets like Spain and Mexico [3] - The Find X9 Pro was recognized as the best imaging smartphone of the year by MKBHD, a prominent tech reviewer [3] - OPPO is the only major brand in China to achieve growth in the third quarter, with nearly 50% of its users being repeat customers, indicating strong brand loyalty and user retention [3]

Group 1 - The core viewpoint of the article is that the entry of Apple's foldable iPhone is expected to drive a 45% year-on-year increase in domestic foldable phone sales in China in 2026 [4][5] Group 2 - Analysis of the penetration rate trend of foldable phones in the Chinese market from 2018 to 2025 [4] - Trend analysis of foldable phone sales and year-on-year growth rate in the Chinese market from Q1 2021 to Q3 2025 [4] - Ranking analysis of brand foldable phone sales in the Chinese market from Q1 to Q3 2025 [4] - Market share analysis of brand foldable phone sales in the Chinese market from Q1 to Q3 2025 [4] - Price range trend analysis of foldable phones in the Chinese market from Q1 2021 to Q3 2025 [4] - Analysis of cover glass types (CPI/UTG) for foldable phones in the Chinese market from Q1 2021 to Q3 2025 [4] - Trend analysis of AI proportion in foldable phones in the Chinese market from Q1 2021 to Q3 2025 [4] - Development trend analysis of foldable phone folding forms in the Chinese market from Q1 2021 to Q3 2025 [4] - Comparative analysis of the advantages and disadvantages of Samsung's first tri-fold phone and Huawei's tri-fold phone [4] - Latest progress analysis of Apple's foldable iPhone [4] - Conservative and optimistic sales forecasts for the Chinese foldable phone market after Apple's entry in 2026 [5]

从基金十大重仓股角度 截至发稿，何文逸累计任职时间3年320天，现任基金资产总规模7.81亿元，任职期间最佳基金回报 32.35%， 任职期间最差基金回报-39.67%。 风险提示：市场有风险，投资需谨慎。本文为AI大模型自动发布，任何在本文出现的信息（包括但不 限于个股、评论、预测、图表、指标、理论、任何形式的表述等）均只作为参考，不构成个人投资建 议。 责任编辑：小浪快报 资料显示，深圳传音控股股份有限公司位于广东省深圳市南山区西丽街道西丽社区仙元路8号传音大厦, 香港铜锣湾希慎道33号利园1期19楼1919室，成立日期2013年8月21日，上市日期2019年9月30日，公司 主营业务涉及以手机为核心的智能终端的设计、研发、生产、销售和品牌运营。主营业务收入构成为： 智能机83.91%，其他10.22%，功能机5.86%。 数据显示，中海基金旗下1只基金重仓传音控股。中海进取收益混合（001252）三季度持有股数5853 股，占基金净值比例为3.06%，位居第十大重仓股。根据测算，今日浮盈赚取约4038.57元。 中海进取收益混合（001252）成立日期2015年5月13日，最新规模1804.69万。今年 ...

每经AI快讯，数据显示，12月29日，共55只港股获公司回购，9只个股回购金额超千万港元。其中，腾 讯控股、小米集团-W、中远海控（601919）回购金额最大，分别获公司回购6.36亿港元、1.51亿港元和 4790.29万港元。截至12月29日，今年已有264只港股获公司回购，72只个股年内累计回购金额超亿港 元。其中，腾讯控股、汇丰控股、友邦保险年内累计回购金额最大，分别获公司回购787.65亿港元、 302.57亿港元和176.93亿港元。 ...

小米史上最大规模减持 单从形式上看，林斌的减持安排并不算激进。 公告现实，自2026 年 12 月起，每 12 个月减持金额不超过 5 亿美元，累计不超过 20 亿美元。分期执行的"慢动作"，显然是为了规避一次性抛售对二级市 场的剧烈冲击。即便减持完成，林斌仍持有小米约 17% 的股份，并不构成实质性的"清仓离场"。 如果这只是一份财富管理说明书，它理性且标准。但资本市场从不看你留下了多少，只看你拿走了多少。 这20亿美元（约合156亿港元）的套现，是小米上市以来前所未见的： 2019年，晨兴资本减持套现 22 亿港元； 2021年，高通减持套现 11 亿港元； 2024年6月，林斌曾小试牛刀套现 1.79 亿港元。 此次减持规模，是林斌半年前那次套现的87倍，也是小米上市以来首次由核心创始团队系统释放"长期套现"信号。 市场关注度和情绪剧烈波动，不难理解。如果说此前的财务投资人离场是"落袋为安"，那作为二号人物的林斌套现离场，就很容易在社媒评论区里看到类 似直白的潜台词："宁愿成立投资公司去外面看机会，也不想再赌小米的未来。" 减持的时机，也相当微妙。 仅公告前一交易日，小米完成连续第4 日股份回购，累计回 ...

Core Insights - The Chinese smartphone industry is experiencing a silent "three-line war," characterized by fierce competition in the mid-range market, a duopoly in the high-end segment, and a push towards AI integration [1][2] Group 1: Market Dynamics - By 2025, the smartphone market is showing signs of a split narrative, with significant reshuffling among mainstream manufacturers in the mid-range segment while Apple and Huawei dominate the high-end market [2] - IDC data for Q3 2025 indicates that vivo leads the market with a 17.2% share, followed by Apple at 15.8%, Huawei at 15.2%, Xiaomi at 14.7%, and OPPO at 14.5% [3][4] - The total shipment volume for the top five manufacturers in Q3 2025 was 68.5 million units, a slight decline of 0.5% year-on-year [4] Group 2: Competitive Landscape - The mid-range market is marked by intense competition and strategic adjustments, with brands like Honor and Xiaomi struggling to maintain their positions [5][6] - Huawei faces challenges with its HarmonyOS ecosystem, particularly in app compatibility, which affects user experience [6] - The high-end market remains stable, with Apple and Huawei holding over 80% of the market share for devices priced above 6000 yuan [7][8] Group 3: AI Integration - The smartphone industry is transitioning to an AI 3.0 phase, where AI capabilities are becoming integral to the user experience rather than just additional features [10][11] - The introduction of advanced AI models is expected to redefine user interaction with smartphones, moving from hardware specifications to intelligent integration [12] - Companies are increasingly focusing on AI as a differentiator, with significant investments from major players like ByteDance in collaboration with hardware manufacturers [13] Group 4: New Entrants and Market Evolution - The entry of cross-industry players and the resurgence of previously overlooked brands are reshaping the competitive landscape [14][15] - The smartphone industry is evolving from hardware competition to ecosystem competition, emphasizing service differentiation [16] - The market is anticipated to undergo another round of reshuffling in 2026, with smaller manufacturers needing to leverage AI to avoid being sidelined [16]

雷军刚砸1亿港元增持小米表信心，副董事长林斌就宣布要套现140亿人民币——这俩创始人到底在唱哪出？是小米内部对未来看法分裂，还是资本操作背 后另有隐情？普通投资者该跟着慌吗？ 这两天，小米集团的一则公告把科技圈和财经圈都搅活了。12月28日晚间，港交所公告显示，小米联合创始人、副董事长林斌计划从2026年12月开始，分 四年减持公司股票，累计套现不超过20亿美元，按当前汇率算差不多140亿人民币，每年减持金额不超过5亿美元。而就在一个月前的11月24日，创始人雷 军刚自掏腰包1亿港元增持260万股小米股票，当时还带动股价第二天大涨。 先把公告里的关键信息拎清楚，林斌在公告里明确表态："对小米集团的业务前景充满信心并将长期服务于本集团"，减持所得款项主要用于成立投资基金 公司，投向新兴科技、体育等产业。这句话看着矛盾，却得结合他的身份和小米的发展阶段慢慢拆。 首先得明确一个背景，林斌并非普通高管，而是小米的核心创始人之一，且拥有美国国籍。 公开资料显示，1968年出生于广东广州的林斌，是典型的技术精英出身，被保送至中山大学电子系后，又赴美国德雷塞尔大学深造并获得计算机科学硕士 学位。职业生涯早期，他曾在微软任职 ...

（来源：上市之家） 随着股价近期的大跌，雷军的1亿港元并未挽回颓势，而这位小米"二号人物"的巨额减持计划，可能给公司未来股价带来持续四年的阴影。 12月28日，小米集团（1810.HK）在港交所发布公告称，公司收到联合创始人、执行董事、副董事长林斌的通知。根据该通知，林斌计划自2026年12月开 始，在符合相关法律法规及港交所上市规则的前提下，以每12个月为周期，出售不超过5亿美元的公司B类普通股，累计出售总金额上限为20亿美元（约 合超140亿人民币）。 "对未来业务前景充满信心并将长期服务于集团。"公告中还这样表示。 12月29日，小米集团股价低开超3%，报收38.58港元。 巧合的是，雷军近日1亿港元增持小米集团260万股的平均价，也为每股约38.58港元。 01 "二号人物"减持 在公司官网的介绍中，林斌的位置在雷军之下，卢伟冰之上，被视为小米的"二号人物"。百度百科介绍中显示，他是一位美籍华裔企业家。 小米集团在公告中解释了此次减持的目的，指出林斌减持所得款项将主要用于成立一家投资基金公司。同时，公司特别强调，林斌对小米集团的业务前 景"充满信心"，并承诺将"长期服务于本集团"，以此向市场传递稳定信 ...

Core Viewpoint - The article discusses the evolution and success of Huawei's HarmonyOS, highlighting its growth in device numbers and developer engagement, while addressing the challenges faced in establishing a robust application ecosystem [2][11]. Group 1: HarmonyOS Development and Challenges - HarmonyOS has surpassed 32 million devices, adding over 150,000 daily, marking a significant achievement since its inception [2]. - The initial skepticism surrounding HarmonyOS stemmed from the historical challenges faced by other operating systems in building a mature application ecosystem [6]. - Huawei's strategy to initially support Android applications was a pragmatic approach to ensure survival, but it raised concerns about long-term developer commitment to creating native HarmonyOS applications [7][8]. Group 2: Strategic Decisions and Ecosystem Building - In 2023, Huawei announced a significant shift by removing the Linux kernel from HarmonyOS, aiming to encourage developers to create native applications [8]. - The investment in research and development for HarmonyOS 5 is unprecedented, with a workforce of 40,000 per month, surpassing all previous versions combined [8]. - Collaboration with the Chinese Academy of Sciences has led to substantial contributions to the open-source HarmonyOS codebase, enhancing its adaptability and ecosystem potential [8]. Group 3: User Experience and Performance - The success of HarmonyOS is attributed to its distributed computing architecture, which allows seamless collaboration across devices, enhancing user experience beyond traditional smartphone applications [13]. - The launch of HarmonyOS 6 integrates AI deeply into the system, resulting in significant performance improvements, including a 15% increase in device performance and enhanced battery life [15][20]. - Security features in HarmonyOS 6, including end-to-end encryption and a robust platform-level security system, address user concerns about privacy and data protection [20]. Group 4: Developer Engagement and Ecosystem Growth - Huawei's commitment to fostering a healthy application ecosystem includes strategic partnerships and talent development initiatives across multiple regions [22][24]. - The alignment of developer interests with HarmonyOS's growth trajectory has encouraged sustained investment and collaboration, as seen with major developers like Tencent and miHoYo [22][24]. - The rapid increase in application installations, such as QQ Music and WPS, demonstrates the growing demand for native HarmonyOS applications and the ecosystem's potential [30][31]. Group 5: Future Outlook and Competitive Position - HarmonyOS is positioned as a third alternative in the operating system landscape, focusing on user experience and mutual benefits for ecosystem partners [32]. - The ongoing evolution of HarmonyOS reflects a commitment to creating a cohesive smart service experience and expanding market opportunities for developers [32].