近年来，强劲的本土化布局推动荣耀在东南亚市场快速增长。2024年荣耀智能手机出货量稳居市场第三，首次领跑东南亚市场。Omdia数据显示，2025年第 三季度在东南亚智能手机市场，荣耀出货量较去年同期翻倍。 荣耀方面表示，此次本地建厂是其对孟加拉国市场长期承诺的体现，也是推进全球化制造与本地化服务战略的重要一步。对于荣耀的投资及扩建计划，孟加 拉国当地政府给予高度肯定与支持，期待荣耀能够迅速成长为孟加拉国市场的领先智能终端品牌，推动本地制造业升级并扩大就业机会。（思瀚） 【环球网科技综合报道】12月5日消息，荣耀近日宣布，其在孟加拉国投建的首家现代化工厂已全面投入运营，标志荣耀正式切入当地本土化生产赛道。此 外，荣耀在孟加拉国的第120家体验店也同步落成，全国首家、也是标杆级的品牌旗舰店在首都达卡核心商圈 JFP 开业。生产端与零售端的双重突破，加速 推进荣耀全球化布局。 据了解，该工厂占地面积达5000平方米，设有3条生产线，目前整体产线具有较高自动化率，被视为当地最现代化的制造基地之一。工厂已于11月25日实现 首台设备下线，预计年产能可达100万台，目前已为本地创造超过500个就业岗位。荣耀同时制定扩建计 ...

Core Viewpoint - The launch of ByteDance's "Doubao AI Assistant" signifies a shift in AI competition towards the operating system level, highlighting the enduring competitive strength of existing smartphone giants like Xiaomi [3][4]. Group 1: Doubao AI Assistant Overview - ByteDance's "Doubao AI Assistant" is a system-level graphical user interface (GUI) agent integrated with a large language model (LLM), aimed at enhancing mobile interaction through visual interpretation and complex task operations across applications [4]. - The Doubao model has become popular among several smartphone original equipment manufacturers (OEMs), with daily token generation reaching 1.3 trillion in May, accounting for 8% of total token consumption [4]. Group 2: Challenges for Third-Party AI Agents - High barriers exist for third-party AI agents to gain system-level operational permissions, as major smartphone OEMs retain strategic advantages and may not easily grant access to their system cores and permission frameworks [5]. - The ability of AI agents to operate across applications is contingent on the openness of third-party internet application interfaces, with some companies potentially restricting external agent usage to maintain closed ecosystems [6]. Group 3: Market Structure and Competition - The Chinese smartphone market is highly consolidated, with the top six manufacturers (vivo, OPPO, Honor, Apple, Xiaomi, Huawei) accounting for over 90% of shipment volume, creating significant barriers for new entrants [7][8]. - In contrast, the new energy vehicle (NEV) market is more fragmented, allowing for greater opportunities for differentiation through software [7]. Group 4: Xiaomi's Competitive Advantages - Xiaomi's long-term advantages are underscored by the challenges faced by Doubao AI, as the company actively pursues a comprehensive "people x car x home" ecosystem strategy, with AI as a core component [9]. - Xiaomi's investment in AI is substantial, with projected R&D spending exceeding 7 billion RMB by 2025, representing 22% of its total R&D expenses [10]. - The "Super XiaoAI" assistant has achieved significant penetration, with a 71% user adoption rate among Xiaomi smartphone users as of September 2025 [11]. Group 5: Integration and Functionality of Super XiaoAI - "Super XiaoAI" has integrated deep functionalities across various core scenarios, including social media interactions, e-commerce assistance, productivity services, and memory capabilities for user habits and sensitive data [12][13][14][15]. - This comprehensive integration positions Xiaomi favorably against third-party AI agents, reinforcing its competitive moat and validating the long-term value of its ecosystem strategy [16].

Core Insights - ByteDance's Doubao and ZTE have launched an AI smartphone that is generating significant market interest [1] - The Doubao assistant within the phone shows quick response times and clear feedback logic in travel planning and ticket booking, but has issues with longer wait times and unintegrated payment processes [1] - The industry faces challenges with the integration of systems and models in current smartphone AI assistants, and the effectiveness of this collaboration between Doubao and ZTE remains to be validated by the market [1]

Core Insights - Goldman Sachs anticipates more AI developments in the upcoming quarters, which will be integrated into Xiaomi Group's ecosystem and its AIoT devices, driving differentiated growth and supporting Xiaomi's "people, vehicles, and home" upgrade strategy [1] - ByteDance has launched a technical preview of the Doubao mobile assistant, designed for smartphone brands, integrating a large language model into the operating system for visual content interpretation and multi-step tasks [1] - Xiaomi is actively exploring both edge and cloud-based large language models to meet diverse needs for flexibility and convenience, having released several specialized large language models covering various domains [1] Group 1: Xiaomi Developments - Xiaomi is expected to benefit from AI advancements that will enhance its ecosystem and AIoT device capabilities, with a target price set at 53.5 HKD [1] - The company has introduced multiple specialized large language models, including the newly launched MiMo-Embodied model on November 21 [1] Group 2: ByteDance Initiatives - ByteDance's Doubao mobile assistant is embedded in the new Nubia M153 smartphone, indicating a strategic expansion into mobile internet infrastructure and smartphone ecosystems [1] - The Doubao mobile keyboard was previously launched on iOS and Android platforms, showcasing ByteDance's commitment to enhancing mobile user experience [1]

Core Viewpoint - Goldman Sachs anticipates more AI developments in the coming quarters, which will be integrated into Xiaomi's ecosystem and its AIoT devices, driving differentiated growth and supporting Xiaomi's "people, vehicles, and home" upgrade strategy. The firm has assigned a "buy" rating to Xiaomi with a target price of HKD 53.5 [1] Group 1: Xiaomi's AI Strategy - Xiaomi is actively exploring both edge and cloud-based large language models to meet diverse needs for flexibility and convenience across different scenarios [1] - The company has launched several specialized large language models covering visual, audio, speech, and localized intelligent assistants [1] - On November 21, Xiaomi introduced the MiMo-Embodied model, which is a cross-embodiment foundational model [1] Group 2: ByteDance's Technological Advancements - On December 1, ByteDance released a technical preview of the Doubao mobile assistant, designed specifically for smartphone brands, integrating a large language model into the operating system for visual content interpretation and multi-step tasks [1] - The Doubao mobile keyboard was launched on iOS and Android platforms in late November, indicating ByteDance's strategic expansion into mobile internet infrastructure and smartphone ecosystems [1] Group 3: Market Implications - The integration of AI technologies in Xiaomi's ecosystem is expected to enhance its competitive edge in the AIoT market, potentially leading to increased market share and revenue growth [1] - The advancements by ByteDance in mobile technology may disrupt existing smartphone ecosystems, presenting both opportunities and challenges for competitors in the industry [1]

硬·AI 高盛认为，豆包AI手机虽然"火爆"，但其在系统权限、数据获取和应用联通性上面临重重挑战，反而凸显了小米等手机巨 头的结构性优势。小米凭借其"人车家"生态、近10亿的AIoT设备连接以及渗透率高达71%的AI助手"超级小爱同学"，已构 建起强大护城河。小爱同学已经能发布微博笔记、筛选淘宝商品等。 作者 | 龙 玥 编辑 | 硬 AI 近期，字节跳动高调发布"豆包AI手机助手"预览版，意图通过大语言模型（LLM）重塑手机交互体验，引 发市场高度关注。 高盛12月4日发布的最新研报中分析认为，"豆包AI手机助手"标志着AI竞争进入到操作系统层面，然而，第 三方AI代理在获取系统级权限、用户数据和跨应用连接方面面临重重挑战，反而更加验证了小米等现有手 机巨头长期竞争力的稳固性。 01 豆包AI来袭 但系统级集成面临三大挑战 根据报告，字节跳动于12月1日发布的"豆包AI手机助手"是一个系统级的图形用户界面（GUI）代理，它将 豆包大模型深度集成到移动操作系统中，旨在实现屏幕内容的视觉解读和跨应用的复杂任务操作，例如演 示中的跨平台比价和自动领取优惠券。 报告显示，豆包已成为多家智能手机原始设备制造商（例如O ...

陈震多平台被禁言 12月4日晚，陈震多平台账号被禁言。 抖音平台显示，"该用户因违反相关法律法规和政策，已被禁 言。" 小红书平台显示，"该账号因违反相关社区规则，已被禁言。" 360创始人、董事长周鸿祎发视频谈豆包手机。他表示，最狠的是，这会直接冲垮互联网大厂的护城 河，他们原本靠用户必须打开APP才能享受服务，建立的优势可能要重新定义了。 饿了么APP正式焕新为淘宝闪购 据官方12月5日一早消息：即日起"饿了么"App在更新至最新版本后将全面焕新为 "淘宝闪购"。 小米或将推出三折叠手机 据XiaomiTime报道，近日一款型号为2608BPX34C的小米新机出现在GSMA数据库，业内普遍推测该机 型为小米MIX系列的三折叠手机——MIX Trifold。目前全球只有华为和三星推出了三折叠屏手机，小米 很可能成为第三个量产厂商。 新东方员工发文控诉加班 据媒体报道，多位网友称，有新东方杭州课程顾问在公司内部群中发布了一篇长文。图片显示，该长文 内容对课程顾问岗位的加班强度、指标远超实际、工作内容冗杂等问题进行控诉。 OpenAI或投资火箭公司与马斯克竞争 乐视网回应将花1.8亿炒股 话题"乐视网负债238 ...

Group 1 - Xiaomi's first overseas market for its automotive venture is Europe, which is considered the most challenging market globally. The company aims to establish a foothold in this difficult market before expanding to others [2] - Xiaomi's president, Lu Weibing, emphasized the importance of learning from Germany's mature automotive industry during his recent visit [2] Group 2 - Bojie Co., Ltd. reported ongoing collaborations with a major client in robotics and automotive sectors, including testing and assembly of vehicle components [3] - The company is also developing electronic skin testing devices, currently in the experimental phase [3] Group 3 - Eight e-commerce platforms, including JD.com and Meituan, signed a commitment to regulate AI technology applications to address misuse risks and maintain order in the live-streaming industry [4][5] - The commitment includes six key measures to establish self-regulatory norms for AI technology in e-commerce [5] Group 4 - Tencent announced the winter testing recruitment for its auto chess game "King of Glory Chess," which will be a large-scale non-billing test [6] Group 5 - The Chinese esports industry is projected to generate revenues of 29.331 billion yuan by 2025, maintaining its position as the largest esports market globally [7] Group 6 - Hong Kong Investment Management Company reported total assets of 64.007 billion HKD and an investment income of 2.345 billion HKD for 2024, with a significant focus on hard technology investments [11] Group 7 - Alibaba's first talent apartment officially opened in Nanjing, offering 565 rooms with various layouts and rental discounts for local youth [12] Group 8 - The General Administration of Sport of China is reforming the professional league system to enhance market-oriented and public welfare development, aiming for a balanced competitive environment [13] - The number of second-hand residential transactions in first-tier cities reached 49,033 in November, marking a seven-month high and a 20% month-on-month increase [14]

智通财经APP获悉，摩根士丹利发布研报称，在内存成本大幅上升下，相信产品结构较好及平均售价较 高的企业，将更有利于转嫁成本压力。在比较过2016年起各品牌的平均售价趋势后，该行发现小米集 团-W(01810)的平均售价增长在内地使用Android系统的同业中最为显著，现予目标价62港元及"增持"评 级。 考虑到今年第三季，小米内地市场的平均售价已超越OPPO、vivo及荣耀，该行认为公司明年将更有效 转嫁成本，而小米持续推进的高端智能手机策略亦可能带来额外助力。该行又预期小米在海外市场将更 关注平均售价及利润率，而非市场份额，同样有助其应对成本上涨压力。 ...

摩根士丹利发布研报称，在内存成本大幅上升下，相信产品结构较好及平均售价较高的企业，将更有利 于转嫁成本压力。在比较过2016年起各品牌的平均售价趋势后，该行发现小米集团-W(01810)的平均售 价增长在内地使用Android系统的同业中最为显著，现予目标价62港元及"增持"评级。 考虑到今年第三季，小米内地市场的平均售价已超越OPPO、vivo及荣耀，该行认为公司明年将更有效 转嫁成本，而小米持续推进的高端智能手机策略亦可能带来额外助力。该行又预期小米在海外市场将更 关注平均售价及利润率，而非市场份额，同样有助其应对成本上涨压力。 ...