Investment Rating - The industry investment rating is "Positive" and is maintained [6] Core Viewpoints - The release of OpenHarmony 6.0 marks a significant milestone, with continuous upgrades and iterations under an open-source model, leading to technological breakthroughs and ecosystem improvements. This is expected to attract more manufacturers to join the OpenHarmony ecosystem, creating a positive cycle and accelerating its development [2][4][9] - The report suggests focusing on manufacturers within the Harmony industry chain that are developing commercial distributions and independent brands based on the Harmony system, as they are likely to enhance their market share due to the system's advantages in fluidity, universality, connectivity, and security [2][9] Summary by Sections Event Description - On September 27, the OpenHarmony Technology Conference 2025 was held in Changsha, where the OpenAtom OpenHarmony project officially released the OpenHarmony 6.0 version [4] Technical Breakthroughs - OpenHarmony 6.0 has achieved multiple technical breakthroughs, including enhanced ArkUI component capabilities, upgraded window capabilities, and improved application framework support, which collectively optimize the development experience and reduce development costs [9] Community and Ecosystem Growth - As of August 31, the OpenHarmony community has gathered over 9,200 contributors, with a total code contribution exceeding 130 million lines. More than 480 partners are involved in co-construction, and over 1,300 products have passed compatibility testing across various sectors [9] Future Plans - OpenHarmony plans to incubate cross-platform framework PMC and embodied intelligence PMC, focusing on cutting-edge areas such as AI on the edge and interconnectivity standards, which will significantly expand its development boundaries [9]

Group 1 - The Ministry of Industry and Information Technology and seven other departments issued a plan for the non-ferrous metals industry, aiming for an average annual value-added growth of around 5% and an average annual production growth of about 1.5% from 2025 to 2026 [2] - The plan includes measures such as exploration actions, product breakthroughs, and consumption upgrades, with a target of exceeding 20 million tons in recycled metal production [2] - The non-ferrous metals sector has rebounded nearly 60% since April, with brokerages optimistic about the price increases for industrial and energy metals [2] Group 2 - Huawei released the open-source HarmonyOS 6.0, which supports various terminal devices and has gathered over 9,200 community contributors, with more than 130 million lines of code [2] - Huawei plans to invest 150 billion yuan annually over the next five years to develop its ecosystem, providing 1.5 petaflops of computing power and mobilizing 15,000 participants [2] - The company is expanding its presence in chips, operating systems, and cloud services to attract developers and build a global developer community [2] Group 3 - International silver prices surged to over $46 per ounce, marking a 14-year high, with a 30% increase over the past six months and a 59% rise year-to-date, outpacing gold [2] - The price increase is attributed to a combination of macroeconomic factors, supply-demand dynamics, and the restoration of the gold-silver ratio [2] - Industry insiders caution investors about price volatility risks, recommending a strategy of buying on dips while managing positions carefully [2] Group 4 - Domestic air ticket prices for popular routes have significantly increased ahead of the National Day holiday, with pre-sale prices up 9.1% compared to 2024 [3] - Factors such as rising demand, airline price hikes, and reduced supply have contributed to the price surge, making it unlikely for prices to drop [3] - Consumers are advised to book early to secure stable prices, as airlines refine their revenue management strategies [3] Group 5 - The controlling shareholder of Zhongji Xuchuang plans to reduce its stake by up to 5.5 million shares, representing 0.49% of the total share capital [3] - The company's stock has seen a remarkable increase of over 515% year-to-date, despite a recent pullback following a peak increase of 580% from April to September [3] - The actions of the controlling family and board members to reduce their stakes may indicate a shift in sentiment among institutional shareholders [3] Group 6 - Avita plans to apply for a listing on the Hong Kong Stock Exchange in the fourth quarter, aiming for completion by the second quarter of next year [3] - The company has raised over 19 billion yuan through multiple financing rounds from 2021 to 2024 but continues to face a cycle of financing and losses, with net losses reaching 9.726 billion yuan during this period [3] - Despite a change in leadership and the release of a development plan, the company faces significant challenges in a competitive market and evolving technology landscape [3] Group 7 - The U.S. government faces a potential shutdown due to a lack of consensus on fiscal appropriations for the 2026 fiscal year, which could lead to the closure of non-essential government departments [4] - The White House has requested agencies to prepare for potential layoffs, highlighting the urgency of the situation [4] - A government shutdown would impact federal employees, government services, and the release of economic data, increasing market uncertainty [4] Group 8 - The new energy storage market is experiencing rapid growth, with plans to reach an installed capacity of over 180 million kilowatts by 2027, driving an investment of approximately 250 billion yuan [5] - There is strong demand for energy storage cells, with orders extending into next year, and energy storage power stations are participating in the electricity market, creating diversified revenue models [5] - The price of lithium carbonate, a key component in lithium battery storage, is expected to stabilize, and technological advancements are driving down costs, indicating a promising industry outlook [5]

Group 1: Technology Developments - Microsoft has integrated Anthropic's Claude model into Microsoft 365 Copilot, enhancing AI capabilities for business and personal users [2] - The open-source HarmonyOS 6.0 has been launched, supporting various devices and involving over 9,200 contributors with 130 million lines of code [3] - Tencent's Mixyuan team has released two new 3D generation models, Mixyuan 3D-Omni and Mixyuan 3D-Part, aimed at improving geometric precision and component generation [6] Group 2: Corporate Actions and Market Entries - Apple has publicly opposed the EU's Digital Markets Act, facing ongoing investigations and a previous fine of €500 million for non-compliance [4] - Xiaomi's new phone series, the Xiaomi 17, achieved record sales within minutes of launch, with the Pro Max model accounting for over 50% of total sales [5] - Tesla has commenced vehicle deliveries in India, with all vehicles sourced from its Shanghai Gigafactory, pricing the Model Y at approximately ₹600,000 to ₹680,000 [7] Group 3: Innovations and Services - Meituan has upgraded its "1-to-1 urgent delivery" service, allowing users to receive meals earlier during peak hours, with over half of users opting for this service again [8] - WeChat has launched a new image search feature, enabling users to search for content directly from images in chats, enhancing user efficiency [9] - Quark and Amap have jointly released the first near-eye display navigation system, integrating real-time navigation information into AI glasses [10] Group 4: Investment and Financial Activities - Xiaoma Zhixing has received permission for Robotaxi road testing in Dubai, paving the way for commercial autonomous driving services by 2026 [11] - SHOPLINE is set to obtain a major payment institution license in Singapore, expanding its services to include regulated payment solutions [12] - Jingchen Semiconductor has submitted an IPO application in Hong Kong to enhance its capital strength and international strategy [16] Group 5: Mergers and Acquisitions - Yachuang Electronics plans to acquire 40% of Ouchuang Semiconductor and 45% of Yihai Nengda, enhancing control and operational efficiency in the electronic components sector [19] - Zhongji Xuchuang intends to invest ¥354 million in the Guotai Haitong Zhongji Xuchuang Industrial Fund, focusing on specific industries including optical communication and robotics [17] - Taicheng Light plans to invest ¥150 million in the same fund, aiming to strengthen its position in the optical communication and related sectors [18]

Core Viewpoint - The release of OpenHarmony 6.0 marks a significant upgrade in technology capabilities, supporting various terminal devices and expanding its application across over 70 industry-specific versions [1][5]. Group 1: Event Overview - The OpenHarmony Technology Conference 2025 was held in Changsha, hosted by Huawei, where the OpenHarmony 6.0 Release version was officially launched [1]. - The conference highlighted the achievements of OpenHarmony over the past five years, emphasizing collaboration across academia, industry, and research [3]. Group 2: Technical Advancements - OpenHarmony 6.0 introduces enhancements in key technical areas, including improved ArkUI component capabilities, upgraded window functionalities, and a more efficient application framework [5]. - The system's ability to support complex terminal devices has been significantly enhanced, leading to improved application development efficiency and ecosystem adaptability [5]. Group 3: Future Outlook - The next five years are expected to see a shift towards intelligent terminal operating systems, with OpenHarmony aiming for L3 to L4 level autonomy and intelligent assistance [6]. - The vision for OpenHarmony includes a unified experience across different devices, with a focus on AI, embodied intelligence, and cross-platform frameworks [8]. Group 4: Community and Industry Impact - OpenHarmony has gathered over 9,200 community contributors, with more than 130 million lines of code and over 1,300 hardware and software products deployed in critical industries such as finance, transportation, and education [8]. - The initiative aims to replace existing systems in key industries while enhancing user experience in the era of intelligent connectivity [8].