Core Points - Huawei officially launched its HarmonyOS 5-powered computers, including the MateBook Pro and the MateBook Fold, with prices starting at 7999 yuan and 23999 yuan respectively [1] - The MateBook Fold is the largest commercial foldable computer with an 18-inch screen and weighs 1.16 kg, while the MateBook Pro is designed for the mass market, weighing 970 grams and boasting a thickness of 13.5 mm [1] - The MateBook Pro claims to have the longest battery life among Huawei's PCs, with a continuous usage time of up to 10.2 hours [1] Market Response - Following the launch, the pre-order volume for the HarmonyOS computers reached nearly 200,000, with over 125,000 for the MateBook Fold and around 70,000 for the MateBook Pro [4] - The launch of HarmonyOS computers is seen as a critical step in Huawei's ecosystem development, complementing its previous release of the HarmonyOS 5-powered Huawei Pura X smartphone [4] Ecosystem Development - The HarmonyOS ecosystem is evolving into a software + hardware + ecosystem model, aiming to create a robust application and ecosystem framework to compete with established players like Microsoft and Apple, which dominate nearly 90% of the global desktop operating system market [4] - The integration of high-frequency applications from mobile and tablet platforms into the computer environment is underway, with over 2000 applications now available across various usage scenarios, enhancing user experience and ecosystem continuity [4]

鸿蒙电脑，正在给世界多一种选择。 当折叠屏遇上HarmonyOS 5，传统PC如何迎来底层重塑？ 5月19日，在nova 14系列及鸿蒙电脑发布会上，华为MateBook Fold 非凡大师正式问世。这台以「便携式大屏」为创新形态的PC，在展开状态时是一块满足 视觉盛宴的18英寸巨型屏幕，而在折叠形态下又是一台13英寸的便携笔记本。 可以说，这是继三折叠、阔折叠之后，华为折叠屏技术迎来了又一次历史性的品类突破：从智能手机到笔记本电脑，华为MateBook Fold 非凡大师作为首款 鸿蒙折叠电脑，拓宽了华为折叠屏的版图。 当便携式大屏在形态固化已久的传统PC身上成为新的可能， 鸿蒙电脑的诞生不仅标志着国产操作系统在PC领域的首次突破，更以折叠形态、软硬件协同以 及全新交互模式，打破了传统笔记本的生产力边界。 正如余承东在这场发布会上给出的论断， 「鸿蒙电脑给世界多一种选择」。 5月22日，根据华为商城的数据，鸿蒙电脑的预约量超14万人。其中售价23999元的华为MateBook Fold 非凡大师预约人数超过10万人。足以证明，华为折叠 屏对于桌面端电脑的这场「折叠屏进攻」，又一次引发了空前的市场反响。 从2 ...

证券代码：832876 证券简称：慧为智能 公告编号：2025-042 深圳市慧为智能科技股份有限公司 投资者关系活动记录表 √业绩说明会 □媒体采访 □现场参观 □新闻发布会 □分析师会议 □路演活动 □其他 二、 投资者关系活动情况 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、 误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连 带法律责任。 一、 投资者关系活动类别 □特定对象调研 问题1：募投项目江门生产基地进度如何？ 回答：您好！感谢您的关注。公司江门生产基地建设顺利推进，目前主体工 程已经完工，正在进行设备采购和厂房内部装修等工作，预计今年上半年可以部 分投入使用。 活动时间：2025 年 5 月 26 日 活动地点：公司通过全景网"投资者关系互动平台"（https://ir.p5w.net） 采用网络远程的方式召开业绩说明会。 参会单位及人员：通过网络方式参加公司 2024 年年度报告业绩说明会的投 资者。 上市公司接待人员： 董事长、总经理：李晓辉先生 财务负责人、董事会秘书：廖全继女士 保荐代表人：郑伟先生 三、 投资者关系活动主要内容 本次业绩说 ...

（文/杨依婷 编辑/吕栋） 5月19日，在华为新品发布会上，首款鸿蒙折叠电脑MateBook Fold正式亮相，起售价23999元。 目前华为Mate70 Pro优享版在支持国补的情况下，12G+256G版到手价是5499元，华为nova14 Ultra国补 后到手价3699元。此外，iPhone16 Pro 256GB版本目前售价为6999元。 也就是说，华为MateBook Fold非凡大师换一块屏幕的价格，可以买两台华为Mate70 Pro优享版，再加上 一台华为nova14Ultra，或者购买两台iPhone16 Pro 256GB。 规格方面，华为MateBook Fold配备了全球最大双层OLED显示屏，HDR峰值亮度达1600nits，对比度2 百万：1，华为称其为电脑行业首次商业LTPO技术，实现30%综合能耗优化，支持自适应刷新率。 近日，华为在官网上公布了最新发布的折叠电脑MateBook Fold非凡大师的维修费用，官网显示，该屏 幕组件（全新屏幕）维修的正常价高达14879元。 但是，若将更换下来的原装旧件无偿回收，可享受优惠价13079元；若更换特惠屏，即官翻屏幕，只需 9197元。 ...

【DT新材料】 获悉，5月19日， 在nova 14系列及鸿蒙电脑新品发布会上， 华为 首款鸿蒙折叠电脑 MateBook Fold 非凡大师正式亮相， 搭载了18英寸 大屏，这也是目前全球最轻薄、最大商用折叠电脑。 采用超轻薄折叠设计，展开薄至7.3mm，重量仅1.16kg，合上之后仅为13英寸，带来了兼顾时尚美学、轻薄便携与沉浸视野的体验。 华为 MateBook Fold 非凡大师外观配色包括锻影黑、天际白和云水蓝， 其中最具亮点的当属锻影黑，其表面创新性地采用了双材质双肌理拼接设计，以 金属质感饰条进行分割，美观精致又不失视觉层次感。靠近折叠处有锻碳 （锻造碳纤维） 工艺打造的锻影云纹饰面，每一款纹理都是独一无二 ，拥有独特 的光泽与质感，既彰显了高端，又能提供更好的抗冲击能力和耐磨性，延长产品的使用寿命，成为科技与工艺融合的典范。 华为 MateBook Fold 非凡大师显示屏采用创新复合抗冲结构，使用碳纤维支撑层，抗冲击能力提升 3 倍，那么什么是 锻碳工艺？ 锻碳工艺 也就是 碳纤维SMC模压工艺 ，其核心是将碳纤维展纱后切短，与环氧树脂预混，形成碳纤维SMC材料（也称为碳纤维锻造模塑料，Ca ...

证券研究报告 东吴证券晨会纪要 东吴证券晨会纪要 2025-05-22 宏观策略 [Table_MacroStrategy] 宏观量化经济指数周报 20250518：央行报表总规模因何连月缩减？ 由于 2025 年 5 月"降准"落地，预计降准对央行报表科目的置换效应或 引致央行进一步"缩表"。 海外周报 20250518：特朗普"漂亮法案"意外受挫，减税落地仍需等待 核心观点：超预期的中美关税谈判结果令市场信心大增，本周美债利率大 幅走高，10 年期美债利率抬升至 4.477%，美股全线大涨，黄金大跌 3.65%。 本周公布 4 月美国 CPI 超预期回落，但市场对关税反复风险的担忧犹存， 对通胀前景仍然保持谨慎，此外本周由共和党提出的综合性财税法案未 能在众议院预算委员会通过，反映出特朗普与民主党和部分温和派共和 党在福利开支削减和保持预算平衡方面的分歧。向前看，近期受关税进展 影响，黄金价格出现大幅回落，但央行购金从需求端支撑黄金价格的中长 期逻辑仍未改变。 风险提示：特朗普政策超预期；美联储降息幅度过大 引发通胀反弹甚至失控；美联储维持高利率水平时间过长，引发金融系统 流动性危机。 固收金工 [Tab ...

Market Overview - The three major stock indices rose collectively, with the ChiNext Index showing strong performance, closing at 2065.39 points, up 0.83% [1] - The total trading volume in the Shanghai and Shenzhen markets was approximately 1214.6 billion yuan, similar to the previous day [1] - Sectors such as coal, banking, pharmaceuticals, and liquor saw gains, while sectors like chemical fiber, semiconductors, tourism, agriculture, and home appliances declined [1] Investment Opportunities - The foldable device market is expected to grow rapidly, with Huawei launching the world's largest foldable screen laptop, MateBookFold [2] - IDC forecasts that China's foldable smartphone market will reach around 10 million units by 2025, representing an 8.3% year-on-year growth [2] - The demand for foldable devices is anticipated to drive the need for related upstream materials [2] Banking Sector - The one-year and five-year LPR were adjusted to 3% and 3.5%, respectively, down by 10 basis points [3] - The overall impact of the LPR and deposit rate cuts is expected to boost the net interest margin of listed banks by 3.1 basis points [3] - The banking sector is projected to maintain a stable fundamental outlook, with high dividend yield attractiveness under the current interest rate environment [3] AI Industry - The development of Agent products is expected to drive the AI industry chain upward, with significant products emerging in the C-end market [4] - There is a divergence in development strategies between North American and Chinese companies regarding Agent applications [4] Automotive Sector - Huawei's new product orders have shown strong performance, with the M8 model achieving 80,000 pre-orders in 34 days, setting a record for the brand [5] - The upcoming launch of the ZunJie S800 on May 30 is expected to further enhance Huawei's brand strength [5][6] Policy Support - Eight government departments have issued measures to support small and micro enterprises in listing on the New Third Board [7] - Shanghai's government has launched a consumption promotion plan, including incentives for vehicle and home appliance upgrades [8] Technological Advancements - A breakthrough in solid-state battery technology has been reported, revealing mechanisms behind short-circuit transitions in inorganic solid electrolytes [11] - The successful implantation of a closed-loop spinal nerve interface marks a significant advancement in the field of neural interfaces [10] Robotics - Tesla released a new video showcasing its humanoid robot performing various tasks, indicating advancements in robotics technology [9]

Core Viewpoint - Huawei has officially launched two significant HarmonyOS computer products, the HUAWEI MateBook Fold and the HUAWEI MateBook Pro, marking the beginning of the HarmonyOS office era with a dual breakthrough of "new system + new form" [1] Group 1: Product Features - The HUAWEI MateBook Fold features an 18-inch foldable screen, the largest in the world, which redefines the usage of computers and aims to inject new vitality into the global PC industry [1][4] - The device can transform from a portable 13-inch laptop to an immersive 18-inch display, providing users with a stunning visual experience [4] - The MateBook Fold weighs only 1.16 kg and has a thickness of 7.3 mm, making it highly portable while offering a large screen [7] Group 2: Technological Innovations - Huawei has overcome challenges in hinge design, large screen integration, heat dissipation, and battery life to deliver a lightweight and large-screen experience [2] - The device utilizes advanced materials and a unique water-drop hinge design, allowing for seamless closure and flexible opening angles [7] - The HarmonyOS 5 system enhances interaction logic, enabling smart recognition of various input methods and optimizing user experience across different modes [8][10] Group 3: Ecosystem Development - The launch of HarmonyOS computers signifies the completion of Huawei's "1+8+N" ecosystem, with a rapid increase in application availability from over 300 to more than 1,000, expected to exceed 2,000 by year-end [11] - Huawei has collaborated with ecosystem partners to develop over 150 customized applications for the MateBook Fold, enhancing user experience in various scenarios [11] - The introduction of the HUAWEI MateBook Pro complements the MateBook Fold, targeting mainstream office users with a lightweight design while sharing core capabilities of HarmonyOS 5 [14] Group 4: Strategic Initiatives - Huawei has launched the "Qingyun Xinghe Plan" to encourage enterprise users to co-build the HarmonyOS industry and ecosystem, focusing on digital transformation and innovation across various sectors [14] - The company aims to redefine the global PC industry's competitive landscape through the integration of foldable screens and the HarmonyOS, emphasizing the importance of making technology accessible and simplifying complex tasks [15]

Core Viewpoint - Huawei has launched its first foldable screen HarmonyOS laptop, the HUAWEI MateBook Fold, during the product launch event on May 19, showcasing its ambition to provide an alternative in the PC operating system market dominated by Windows and macOS [3][21]. Product Features - The MateBook Fold features an 18-inch foldable OLED display and is priced at 23,999 yuan for the 32GB+1TB model and 26,999 yuan for the 32GB+2TB model, entering the ultra-high-end market segment [2][5]. - The laptop does not come with a physical keyboard, relying instead on a virtual keyboard or an external magnetic keyboard, allowing users to switch content between screens and adjust the screen angle [11][12]. - It is equipped with HarmonyOS 5, which integrates features like AI smart assistant, cross-device collaboration, and privacy protection [13][18]. Market Reception - Pre-sale data indicates strong interest, with nearly 70,000 reservations for both models by May 20, suggesting a positive market response [5][6]. - The pricing strategy has sparked discussions on social media, with mixed opinions on affordability and potential risks associated with the foldable screen [8][9]. Competitive Landscape - The MateBook Fold's pricing positions it above many high-performance laptops, including some of Apple's M-series models, indicating a strategic move into the premium segment [7][21]. - The foldable laptop market is not entirely new, as Lenovo previously launched a similar product, the ThinkPad X1 Fold, which faced challenges in market acceptance due to high pricing and ecosystem compatibility issues [16][22]. Industry Trends - The launch reflects a broader trend in the PC industry, where companies like Microsoft and Lenovo are also integrating AI capabilities into their products, indicating a shift towards smarter, more interconnected devices [19][20].

Market Overview - The Shanghai Composite Index closed at 3367.58 points, while the Shenzhen Component Index fell by 0.08% to 10171.09 points, and the ChiNext Index decreased by 0.33% to 2032.76 points. The total trading volume across the Shanghai, Shenzhen, and North exchanges was approximately 111.91 billion yuan, consistent with the previous day [1] Cement Industry - The cement industry is projected to incur a total profit loss of 1 billion yuan in the first half of 2024. However, as the year progresses, the industry is expected to see a recovery in cement prices, with average prices forecasted at 390 yuan/ton in Q3 and 424 yuan/ton in Q4, reflecting increases of 15 yuan/ton and 34 yuan/ton respectively. This price recovery is anticipated to significantly improve the profitability of cement companies [2] Liquid Crystal Elastomers (LCEs) - Liquid crystal elastomers are gaining traction due to their unique deformation capabilities and reversibility, finding applications in actuators, sensors, and artificial muscles. Recent research indicates that the performance of LCEs has reached or surpassed that of biological muscles, with properties such as density and Young's modulus comparable to muscle fibers. The ongoing advancements in LCE technology are expected to drive growth in the liquid crystal industry [3] Tungsten Market - Tungsten is recognized as a critical strategic resource, with its price rising to 161,000 yuan/ton, the highest since 2013, due to supply constraints and supportive policies. The demand for tungsten, particularly in hard alloys used for cutting tools, is expected to improve significantly, driven by the recovery in downstream industries such as machinery and aerospace. Additionally, China's export controls on tungsten are likely to enhance its strategic importance in the global market [4] Banking Sector - Several banks, including China Construction Bank and Industrial and Commercial Bank of China, have announced reductions in deposit rates, with the most significant cuts being 25 basis points for three-year and five-year fixed deposits [6] Technology Services - A new initiative by nine government departments aims to accelerate the high-quality development of the technology services industry, focusing on areas such as research and development, technology transfer, and enterprise incubation. This initiative is expected to promote the integration of advanced technologies and enhance the overall growth of the sector [6] Huawei's New Product Launch - Huawei has launched its first Harmony OS foldable laptop, the MateBook Fold, which features the largest foldable screen in the industry. This marks the official debut of the Harmony operating system on computers [7][8]