就在科技公司兴致勃勃的时候，硬件厂商的反应却耐人寻味。1月23日，vivo 悄然宣布暂停筹备半年的 AI 眼镜项目，高管团队在内部复盘时直言"短期内难以实现差异化"，战略重心转头投向了 MR 头显。 2026年的AI硬件赛道，正在经历一场前所未有的"军备竞赛"。 在这方面，字节的布局堪称"四面出击"。并购Oladance是其AI耳机战略的关键一步，后者是国内开放式 耳机领域的头部玩家，拥有成熟的声学技术与供应链资源。联手歌尔与龙旗，则是为了解决AI眼镜的 代工问题——歌尔是全球最大的VR/AR代工厂，龙旗是消费电子ODM领域的头部企业，二者的产能与 工艺恰好能支撑字节的硬件野心。 此外，阿里旗下的夸克也在试水AI眼镜，从供应链流出的信息看，这是一款强调"轻交互"的AR眼镜， 主打信息提示与即时翻译场景。 同样地，OpenAI的首款硬件设备也将计划于2026年下半年推出，有传言说是一款类似智能笔的硬件， 内部代号"Gumdrop"，采用多模态传感器与2纳米芯片技术，不带屏幕，完全通过语音和环境感知与用 户交互。 一时间，整个科技圈仿佛回到了十年前智能设备混战的时代。 以vivo执行副总裁胡柏山为首的高层判断，当 ...

Core Viewpoint - The increasing popularity of "tech New Year goods" in China is driven by changing consumer preferences, government support policies, and the emergence of innovative products in the market [1][2][4]. Group 1: Consumer Behavior - Consumers are shifting their purchasing logic, seeking products that enhance daily life and provide emotional companionship, rather than just novelty items [4][11]. - The demand for AI products, such as companion robots and smart glasses, reflects a desire for solutions that address practical life challenges and improve quality of life [4][11]. Group 2: Government Policies - The Chinese government has introduced a large-scale equipment update and consumption subsidy policy for 2026, expanding support to digital and smart products, including smart glasses for the first time [6][11]. - In the first quarter, Zhejiang province plans to issue over 30 billion yuan in subsidies for old-for-new consumption, alongside 9.6 billion yuan in consumption vouchers [6][13]. Group 3: Market Trends - AI smart products have captured over 60% of the sales in the home appliance market, becoming the leading category for New Year goods [9]. - Events like the "Spring Action" in Shenzhen showcase a high concentration of AI products, indicating a growing trend in tech-oriented consumer goods [9][15]. - Companies in Zhejiang are successfully transitioning from technology research and development to mass production, contributing to the rise of AI products as popular New Year gifts [8][15].

Core Viewpoint - Tianyin Holdings, as a core agent for Apple, reports that its main business of selling Apple phones and the entire product line is operating well, with iPhone 17 sales meeting expectations [2] Group 1 - The company emphasizes its channel advantages and aims to further highlight the value of its high channel moat [2] - The operational status of the business is reported to be good [2] - Future operational details will be disclosed through the company's formal information announcements [2]

Core Viewpoint - Morgan Stanley maintains a cautious outlook on Apple's near-term fundamentals ahead of its Q1 earnings report, but remains optimistic about multiple catalysts in the second half of the fiscal year, maintaining an "Overweight" rating with a target price of $315. Group 1: Earnings Forecast and Market Sentiment - iPhone 17 demand remains strong, suggesting that Apple's revenue may exceed expectations, but memory cost pressures and misjudgments regarding operating expenses could limit the positive revision space for EPS, making it difficult for the stock to gain support during the earnings release period [1] - Morgan Stanley predicts that Apple's stock price may experience sideways movement or a slight decline post-earnings, as the market has not fully recognized the strong performance of iPhone 17, with their revenue forecasts for the December and March quarters being 4%-8% higher than market consensus [1][2] - The firm notes that the market's forecast for March quarter operating expenses is 7% lower than theirs, and their gross margin forecast is 30 basis points lower than consensus, which could restrict EPS revisions even if revenue exceeds expectations [1] Group 2: Long-term Outlook and Catalysts - Despite short-term cost pressures, Morgan Stanley believes that Apple will outperform the market by 2026, with multiple catalysts in the second half of the fiscal year, including the relaunch of Siri, the introduction of a foldable iPhone, and the release of the 2nm iPhone 18 [2] - The current iPhone upgrade cycle is at a high of 4.7 years, and the anticipated $100 price increase for the iPhone 18 series is expected to support EPS of $9.77 for FY2027, which is 7% above market consensus, maintaining a 12% EPS growth rate through FY2028 [2] Group 3: Valuation and Market Position - The current stock price corresponds to a P/E ratio of 25 times the projected FY2027 EPS, which is only 1.2 times the S&P 500 index valuation, indicating that both absolute and relative valuations are near historical lows [3] - The firm believes there is positive asymmetric potential in valuation, as the EPS growth rate is expected to remain at 12% through FY2028, supporting their "Overweight" rating and target price of $315 [3] Group 4: Supply Chain Insights and Revenue Predictions - Morgan Stanley's supply chain research indicates that iPhone production capacity for the December quarter is exceptionally strong, with some estimates nearing 90 million units, while their forecast for shipments is 83 million units [3][4] - The firm has raised its iPhone revenue forecast for the December quarter to $80 billion (83 million units shipped), which is 4% higher than market consensus, and for the March quarter to $55.4 billion (60 million units shipped), which is 8% higher than consensus [4] Group 5: Key Focus Areas for Earnings Call - The report emphasizes five key areas to focus on during the earnings call: the impact of memory costs on future quarters, sustainability of AI-related operating expenses, disclosure of new device installation bases, commercialization plans for Gemini collaboration, and resilience of demand in the Chinese market [5]

证券日报网讯1月27日，海能实业（300787）在互动平台回答投资者提问时表示，截至1月20日收盘，公 司股东户数为19938户。 ...

Core Viewpoint - The recent price drop of the iPhone Air has led to significant consumer dissatisfaction, with many buyers feeling unfairly treated due to the rapid depreciation of the product shortly after purchase [1][4]. Group 1: Consumer Reactions - A consumer reported purchasing the iPhone Air at the original price of 7999 yuan, only to find it discounted by 2000 yuan the next day, resulting in a net loss of 2000 yuan [1]. - Many consumers are expressing their frustration online, with some suggesting that retailers should provide guarantees against price drops for a certain period [3]. - Complaints have surged on platforms like 12315 and Black Cat Complaints, focusing on the price drop issue and targeting both Apple flagship stores and authorized retailers [4][5]. Group 2: Product Performance and Market Response - The iPhone Air, launched in October 2025, has not performed well in the Chinese market, achieving only about one-third of Apple's sales expectations shortly after its release [11]. - In contrast, the iPhone 17 series has seen significantly higher activation numbers, with the iPhone 17 Pro Max reaching 826,000 units, while the iPhone Air's sales were only 1/40 of the highest model in the same series [11]. - Due to poor sales, Apple has reportedly cut the production plan for the iPhone Air by half and is reallocating resources to the iPhone 17 series and new foldable models [11]. Group 3: Pricing Strategy Concerns - The iPhone Air's pricing strategy has been criticized for being too close to the iPhone Pro series while offering lower specifications, leading to perceptions of poor value [11]. - The product's rapid price drop of over 30% within three months of launch has raised ethical concerns regarding Apple's pricing practices [5].

记者今天从市场监管总局召开的2025年综合整治"内卷式"竞争十大重大案件发布会上了解到，针 对充电宝安全事件多发、频发，严重威胁人民群众生命财产安全和社会公共安全情况，市场监管 总局部署开展了充电宝质量安全集中整治行动。全国市场监管部门共查处充电宝相关违法案件 1169件，守牢产品质量安全底线。其中，深圳罗马仕科技有限公司违反强制性认证规定及虚假宣 传较为典型。 深圳罗马仕科技有限公司在未取得相关型号充电宝强制性认证证书情况下，擅自委托生产和销售 充电宝产品，同时，在明知部分充电宝电芯容量衰减，实际电池容量已达不到10000mAh时，仍 在产品显著位置进行虚假标注。该公司上述行为违反了《中华人民共和国认证认可条例》《强制 性认证产品管理规定》以及《中华人民共和国反不正当竞争法》相关规定，属地市场监管部门依 法对该公司作出行政处罚。 调查发现，罗马仕公司为压缩生产成本，未经强制性认证即从事生产销售活动，质量投入不足， 源头质量管控流于形式。同时，企业法律意识、质量安全意识淡薄，弄虚作假、夸大宣传，漠视 消费者合法权益，反映出企业质量管控不严、主体责任落实不力的突出问题，一定程度上也反映 出行业存在的重销量、轻质 ...

NAND闪存主控芯片主要开发商群联电子（Phison Electronics）的首席执行官潘健成也表示，消费电子制造商的处境可能会更加艰难。他说，"来自服务器 和AI的需求极强，我们预计NAND闪存价格将在2026年持续大幅上涨，但许多消费电子制造商可能无法消化这种涨幅。" 集邦咨询最新调查认为，2026年第一季度，一般型DRAM合约价将季增55-60%。三星、SK海力士、美光等生产商将先进制程、产能转移至生产用于AI服 务器的HBM，导致其他市场供给紧缩。而NAND Flash则因生产商控管产能，和服务器强劲拉货排挤其他应用，预计各类产品合约价将上涨33-38%。 | | 4Q25 | 1Q26E | | --- | --- | --- | | Total DRAM | Conventional DRAM: up 45~50% HBM Blended: up 50~55% | Conventional DRAM: up 55~60% HBM Blended: up 50~55% | | Total NAND Flash | up 33~38% | up 33~38% | 存储芯片市场"前所未有"的供应紧缩， ...

证券之星消息，1月27日消费电子板块较上一交易日上涨1.56%，绿联科技领涨。当日上证指数报收于 4139.9，上涨0.18%。深证成指报收于14329.91，上涨0.09%。消费电子板块个股涨跌见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | --- | --- | --- | --- | --- | --- | | 301606 | 绿联科技 | 70.00 | 11.77% | 7.84万 | 5.36亿 | | 603052 | 可川科技 | 56.43 | 10.00% | 8.25万 | 4.447 | | 300857 | 协创数据 | 231.68 | 9.13% | 20.18万 | 45.92亿 | | 301626 | 苏州天脉 | 194.98 | 7.01% | - 3.36万 | 6.44亿 | | 301326 | 捷邦科技 | 117.79 | 6.79% | 4.19万 | 4.91亿 | | 603629 | 利通电子 | 34.65 | 6.19% | 63.05万 | 21.83亿 | | 300812 | 易天股份 | ...

Group 1 - The company expects to achieve a net profit attributable to shareholders of 20 million to 29 million yuan for the year 2025, marking a turnaround from a loss compared to the same period last year [1] - The global semiconductor industry and consumer electronics sectors, including smart wearables, electronic paper, and OLED panel expansion, are showing signs of steady recovery [1] - The company is seizing market opportunities during the industry recovery by deepening long-term strategic cooperation with quality clients and implementing lean management across R&D, production, sales, and operations, leading to significant improvements in gross and net profit margins compared to the previous year [1]