2025年11月27日，夸克AI眼镜发布，接入阿里千问大模型；2025年11月28日，华为AI玩具"智能憨憨"开 售；2025年12月1日，字节跳动发布豆包手机助手预览版及少量AI手机样机；2025年12月3日，理想汽 车举行AI眼镜Livis发布会。 深圳市前海排排网基金销售有限责任公司研究总监刘有华对《证券日报》记者表示："2026年或将成为 端侧AI由概念迈向规模化落地的关键拐点。隐私保护、低延迟需求、模型轻量化技术成熟以及自然交 互方式演进，将共同驱动端侧AI设备加速渗透日常生活与工作场景，拉开AI入口争夺的新序幕。" 中信建投（601066）研报显示，2026年手机、PC的AI渗透率有望分别达到45%和62%，端侧AI市场规模 预计从2025年的3219亿元跃升至2029年的1.22万亿元，年复合增长率达40%。 2026年国际消费电子展(CES)开幕在即，AI应用领域相关消息不断。 华泰证券研报显示，本届CES将成为AI应用落地的关键观察窗口，重点覆盖端侧AI、工业AI、Physical AI(物理AI)与汽车智能化等方向。科技行业投资主线正从算力基础设施走向从仿真、训练到现实世界部 署的完整技术 ...

Macro Policy - The People's Bank of China, along with financial regulatory authorities, has introduced a new customer due diligence regulation that will take effect on January 1, 2026, which simplifies the audit process for ordinary customers while enhancing due diligence for large, unusual transactions [4] - The central bank has included stablecoins in the regulatory framework for virtual currencies, emphasizing the need to combat illegal financial activities and maintain market order [4] Capital Market - On December 1, the A-share market showed a broad upward trend, with the Shanghai Composite Index rising by 0.65% to 3914.01 points, and the Shenzhen Component Index increasing by 1.25% to 13146.72 points [5] - The market saw significant trading activity, with a total turnover of 1.87 trillion yuan, an increase of 288.1 billion yuan from the previous trading day, and nearly 3400 stocks recorded gains [5] - The telecommunications, electronics, and non-ferrous metals sectors attracted substantial capital inflows, with the telecommunications sector leading with a net inflow of 5.559 billion yuan [5][6] Industry Dynamics - The establishment of a dedicated Commercial Space Administration marks a significant regulatory and supportive phase for China's commercial space industry, leading to stock surges in related companies [7] - The Ministry of Industry and Information Technology is set to introduce targeted policies to address irrational competition in the power and energy storage battery sectors, promoting high-quality industry development [7] - The global shortage of storage chips is expected to lead to a 50% price increase by the second quarter of 2026, presenting opportunities for domestic industry players [7] International Linkage - Speculation regarding a change in leadership at the Federal Reserve has led to fluctuations in global asset prices, with rising expectations for interest rate cuts boosting gold and silver prices [8] - The easing of geopolitical risks following recent negotiations between the U.S. and Ukraine has provided a respite for global capital markets [8] - Analysts maintain an optimistic outlook for the A-share market in December, anticipating upward trends supported by improved fundamentals and liquidity [8]