1.留给影石大杀四方的时间不多了 2.全景相机的第一仗,大疆比想象中激进 3.Pocket大绞杀 4.全景无人机，中门对狙 5.Neo, Vlog无人机暗战 Al 影像赛道大变局 Pocket大绞杀 扫码添加策划人微信 日8 199 ■ ED 11 自 2025.12-2026. " 明年是Pocket相机最热闹的一年。 " 作者丨 余快 编辑丨刘伟 从百万级到千万级，Pocket 3相机只用了两年时间。 "100%市占率、超高额毛利率，没有哪个行业能达到，大疆守的这个金库太诱人了。"某智能硬件高管金 阳说。 市场已经被验证，接下来解题就行。 OPPO、vivo已组建团队攻坚Pocket项目，小米联手浩瀚推出口袋相机，直指下沉市场，市场还猜测老对 手影石也许会重启云台相机项目。一场针对大疆的围剿战正在悄然布局。 金阳："前提是基本功，要用一年时间追赶别人九年的沉淀，没那么简单。但市场也绝不可能让一个企业 独享。" Pocket这个原本由大疆一手定义、稳坐光明顶的影像市场，即将迎来各路豪强的集体围攻。（更多未披露 内容以及全景无人机故事，欢迎添加作者微信 Yukuaikuaier 交流。） 01 Pocket ...

（文章来源：每日经济新闻） 兴业证券表示，当前智能影像行业进入了全新的成长阶段，新阶段的特征为：新玩家加速入局、硬件堆 砌升级为生态竞争、产品形态多样化及功能的融合化，在此过程中，大疆的加入带动产品加速创新及加 速消费者认知的普及，进而推动市场规模加速扩张，而影石的产品定义和创新能力是新阶段里维持领先 的核心优势，未来持续收获手持智能影像设备行业成长红利及全景无人机新品类带来的增量。 家电ETF（159996）跟踪的是家用电器指数（930697），该指数从沪深市场中选取家电产品制造与销售 的上市公司证券作为指数样本，以反映家用电器相关上市公司证券的整体表现。该指数具有较强的消费 属性和周期性特征，能够较为全面地体现中国家电行业的发展状况。 家电ETF（159996）连续3日迎资金净流入，智能影像行业迎二次成长。 ...

2025年12月2日，市场全天震荡回落，三大指数集体收跌。截至收盘，沪指跌0.42%，深成指跌0.68%， 创业板指跌0.69%。 【机构：美联储降息不确定性，投资者或转向红利股寻求防御】 中国银河证券指出，政策护航红利防御，随着美联储12月议息会议临近，市场波动加剧，但国内稳增长 政策举措增多，有望支撑港股震荡上行。配置方面，美联储降息政策面临较大不确定性，市场风险偏好 下降，投资者或转向红利股寻求防御。 长江证券表示，成长风格在第四季度的波动性往往有所加大，而红利风格在全年各阶段的表现稳定性相 对突出，尤其在第四季度的整体回撤控制方面展现出一定韧性。综合日历效应来看，2025 年12 月份红 利风格相较成长风格具备一定的配置性价比优势。 相关ETF：港股红利低波ETF(520550)、港股红利指数ETF(513630)、恒生红利低波ETF(159545)、恒生 红利ETF(513950)、港股通红利低波ETF(520890) 【机构：消费技术融合、快速迭代创新，结构机遇显著】 题材方面，医药商业、船舶制造、铁路公路等板块涨幅居前，能源金属、贵金属、生物制品等板块跌幅 居前。主力资金上，消费电子、医药商业、 ...

21世纪经济报道记者 陈思琦 深圳报道 当一个国际包裹抵达深圳，它可能受到一些"特殊礼遇"。 在机场国际货站，兆威机电自研灵巧手将对其进行分拣，智能查验机器人、无人驾驶牵引车、AGV机 器人等也将参与抓取、查验、搬运等环节；走出机场，它可以搭上"跨城急送"无人机，45分钟通达东 莞、中山、珠海等周边城市。 将这一切看似科幻的技术带入现实的，是"场景开放"。 11月7日，国务院办公厅《关于加快场景培育和开放推动新场景大规模应用的实施意见》（以下简称 《意见》）对外发布，首次在国家层面对场景培育和开放进行系统部署。 国家发令枪响，一场关于未来的城市竞赛悄然加速，不再仅是比拼政策优惠或重大项目引进，更深层次 的较量在于：为层出不穷的新技术、新产品、新业态提供最肥沃的"场景土壤"，完成从实验室到商业化 惊险一跃的"社会性中试"。 这场竞赛没有旁观者。北京、上海、广州、深圳、杭州、武汉、成都……从首都到一线城市，中国GDP 前100城市中，有超65座城市开展了场景创新相关工作，纷纷将"场景"写入顶层设计，发布机会清单、 搭建对接平台。 谁能领跑？各地政府的政策之外，产业底色、执行魄力和系统性打法或将是分野的关键。 一场 ...

Group 1 - A-shares experienced a collective decline, with the Shanghai Composite Index down by 0.37% near midday on December 2, 2023, while sectors like forestry, office supplies, and engineering machinery showed gains [1] - The consumer electronics sector displayed mixed performance, with the Consumer Electronics ETF (159732) up by 0.09%, and notable individual stocks such as Transsion Holdings rising by 6.16% and Winbond Technology by 2.56%, while companies like Hehe Technology and Anker Innovations faced declines of -3.19% and -2.93% respectively [1] Group 2 - IDC forecasts that China's PC market shipment volume will reach 42.22 million units by 2026, reflecting a slight year-on-year decrease of 0.8%, with GenAI PCs expected to see a significant growth of 146.5% year-on-year in 2026, and a compound annual growth rate of 58.7% from 2025 to 2029 [3] - The consumer electronics sector is rebounding, driven by favorable new consumption policies and product launches such as Huawei's and Alibaba's AI glasses, with recommendations to focus on Apple and Huawei supply chains, as well as new product categories like AI glasses and panoramic drones for investment opportunities [3] - The Consumer Electronics ETF (159732) tracks the National Securities Consumer Electronics Index, primarily investing in 50 A-share listed companies involved in the consumer electronics industry, with significant focus on electronic manufacturing and optical optoelectronics sectors [3]

一、明星品牌 1、亚瑟士否认有意收购彪马的媒体报道 亚瑟士（Asics）表示，媒体有关该公司有意收购彪马的说法"毫无根据"，"没有这方面的讨论或计划"。（新浪财 经） 2、李宁将落地首个户外品类独立店 11月29日，李宁将在北京朝阳大悦城落地首个户外品类独立店。在2025年半年报沟通会上，李宁高层提到，公司 将加速布局高增长潜力市场，重点突破女子运动、户外装备及青少年体育用品三大新兴赛道，培育新的业务增长 点。 3、影石创新：全景无人机将于2025年12月4日发售 影石创新在互动平台表示，公司计划推出两个无人机品牌，包括公司自有无人机品牌和与第三方共同孵化的全景 无人机品牌。截止目前，公司前述无人机品牌业务按既定计划顺利推进，其中全景无人机将于2025年12月4日正 式发售。公司专注于全景相机、运动相机等智能影像设备的研发、生产和销售，暂无"扫地机器人"产品开发计 划。 5、贵州茅台：选举陈华为董事长 4、名创优品：MINISO LAND全球壹号店销售额破亿 截至目前，名创优品已与全球超150个IP建立合作，成功孵化出"吉福特熊、墩DUN鸡"等自有IP。与此同时， MINISO LAND已在北京、上海、广州等 ...

Core Viewpoint - The AI smartphone concept stocks have experienced significant upward movement, driven by the release of the Doubao mobile assistant technology preview, which has activated the entire consumer electronics sector [2][4]. Group 1: Market Activity - AI smartphone concept stocks, including ZTE, Furong Technology, and Daoming Optics, saw substantial gains, with nearly 20 stocks in the consumer electronics sector hitting the daily limit [2][4]. - The consumer electronics index rose over 2%, with individual stocks like ZTE, Furong Technology, and Daoming Optics reaching their daily limit, while others like Transsion Holdings and Zhinxin Electronics increased by over 10% [4][8]. Group 2: Doubao Mobile Assistant - The Doubao mobile assistant, based on the Doubao app, collaborates with smartphone manufacturers at the operating system level, enhancing user interaction and experience [4][6]. - The Nubia M153, equipped with the Doubao mobile assistant, is currently available for developers and tech enthusiasts at a price of 3499 yuan, featuring a 6.78-inch display and flagship smartphone chip [5][6]. Group 3: Industry Trends and Policies - Recent government policies emphasize the integration of artificial intelligence in consumer products, promoting smart devices and AI applications in various sectors, including consumer electronics [8][9]. - Analysts believe that the current weak demand environment will rely more on supply-driven demand creation, with technology consumption, including consumer electronics, benefiting from policy support [8][9]. Group 4: Future Developments - Doubao's large model is expected to be deeply integrated into smartphones, enhancing functionalities such as image editing and user habit memory, potentially leading to the formation of AI agents [6][10]. - Upcoming updates for the Nubia M153 will occur bi-weekly until the end of Q1 2026, ensuring continuous improvement of the software [5][6].

Group 1 - Apple Store in Beijing has officially joined the national subsidy program, offering discounts up to 2000 yuan on selected products, such as the iPhone 17 256GB, which is now priced at 5499 yuan after a 500 yuan subsidy [4] - ST Cube may face mandatory delisting due to significant violations, with reported false revenue of approximately 591.58 million yuan for 2021 and 2022, constituting 50.91% of the total reported revenue for those years [4] - WeChat's HKD wallet has launched a donation section to support fire rescue efforts in Tai Po, with no administrative fees deducted from donations, ensuring all funds go directly to charitable organizations [5] Group 2 - New regulations in Beijing require special license plates for delivery and takeaway vehicles, enhancing management of non-motorized vehicles [2] - Lei Jun, founder of Xiaomi, emphasized that all industries should leverage AI for transformation, predicting a new trillion-dollar market through deep integration of AI with traditional industries [2] - Sohu Video plans to restart its American drama procurement, citing severe piracy as a barrier for many platforms [3] Group 3 - Vanke's stock price has dropped to a nearly 10-year low, with a significant decline of 3.66% on November 28, following a downgrade in credit ratings by S&P [3] - Taobao's flash purchase service will expand the cancellation of late fees to 60 cities by December 3, aiming to improve service for delivery riders [3] - The domestic fuel surcharge for flights will increase starting December 5, with fees rising by 10 yuan for flights under 800 kilometers and 20 yuan for longer flights [7] Group 4 - Miniso's global flagship store in Shanghai has achieved sales exceeding 100 million yuan within nine months, marking a record for global stores [7] - Major tech companies are focusing on space, with Google aiming to deploy TPU in space by 2027, while Amazon's founder predicts data centers will move to space in the next 10 to 20 years [8] - A global shortage of storage chips is worsening, with predictions of a 50% price increase by mid-2026 due to rising demand from AI infrastructure [8]

Group 1: Company Developments - MINISO LAND's flagship store in Shanghai achieved sales exceeding 100 million yuan within 9 months, with monthly sales surpassing 16 million yuan, setting a global record for store sales [1] - Xiaomi's founder Lei Jun announced that humanoid robots will be widely deployed in Xiaomi factories over the next five years, indicating a significant shift towards AI integration in traditional industries [2] - Yuanqi Forest and a local high-tech development company established a new food science research company with a registered capital of 100 million yuan, focusing on scientific research and technology development [3] Group 2: Industry Trends - Taobao Shanguo is expanding its policy to eliminate penalties for delivery delays across 60 cities, aiming to enhance rider safety and user experience through positive incentives [2] - Weibo announced an upgrade to its hot search list to improve public and diverse content representation, with a clear division of content categories [4] - Amazon is entering the Indian banking sector by offering new consumer loan services, having acquired a non-banking financial institution earlier this year [5] Group 3: Regulatory and Market Changes - The People's Bank of China and other regulatory bodies released a new management method for customer due diligence, effective from January 1, 2026 [8] - The Shanghai government is promoting the integration of the marine industry with artificial intelligence, focusing on smart ships and underwater robotics [8] - New regulations for live-streaming e-commerce are set to be introduced by the market regulatory authority, aimed at enhancing oversight in the sector [10]

Core Viewpoint - The company plans to launch two drone brands, including its own brand and a panoramic drone brand developed in collaboration with a third party, based on industry development trends and its long-term strategic planning [1] Group 1 - The company is progressing smoothly with the planned drone brand business [1] - The panoramic drone is scheduled to be officially released on December 4, 2025 [1]