（文章来源：第一财经） 中信建投指出，研究机构Omdia预测，到2032年，全球可折叠OLED屏幕出货量将达1.246亿台，占整体 OLED市场8.6%，明显高于2024年的2310万台和2025年预计的2350万台。业内普遍认为，苹果若推出自 家折叠手机，将极大改变行业格局。苹果一贯重视产品成熟度，目前据传正在攻克屏幕折痕、铰链耐用 性和电池续航等技术难题。Omdia专家表示，苹果的入场将"为折叠屏品类正名"，并激发超越安卓阵营 的新一轮需求爆发。 ...

2025年第二季度新能源车销量年增30% 根据Tr endFor c e集邦咨询最新调查，2025年第二季全球纯电动车（BEV）、插电混合式电动车 （PHEV）和氢燃料电池车等新能源车（NEV）新车销量达486.8万辆，年增30%。若计入油电 混合车（HEV），第二季电动车（EV）销量更达到645.6万辆，占全球汽车总销量29%。 多零件铰链组装到一体化结构设计的技术演进，材质、结构和厚度的突破帮助机身变得更加轻 薄，铰链技术的发展更成为竞争的焦点。 点击右边 阅读原文 了解更多详情 AI数据中心将规模化导入液冷散热技术，预估2025年渗透率逾30% | Rank | BEV | Market Share | PHEV | Market Share | | --- | --- | --- | --- | --- | | l | BYD | 18.3% | BYD | 28.9% | | 2 | Tesla | 11.7% | Li Auto | 7.4% | | 3 | Geely | 6.4% | AITO | 6.2% | | 4 | SAIC-GM-Wuling | 6.3% | Chery | 5.1 ...

Macroeconomic News - National public budget revenue for January to July reached 135839 billion yuan, a year-on-year increase of 0.1%, with tax revenue at 110933 billion yuan, down 0.3% year-on-year, and non-tax revenue at 24906 billion yuan, up 2% [1] - Stamp duty revenue for January to July was 2559 billion yuan, a year-on-year increase of 20.7%, with securities transaction stamp duty at 936 billion yuan, up 62.5% year-on-year [1] Industry News - The Ministry of Industry and Information Technology held a meeting on the photovoltaic industry, emphasizing the importance of regulating competition for high-quality development and promoting the orderly exit of backward production capacity [2] - Guangdong Province announced policies to promote high-quality development in commercial aerospace from 2025 to 2028, encouraging the purchase of domestic satellite data and products [2] - The Ministry of Commerce emphasized the need to advance the work of replacing old consumer goods in a steady manner to foster new growth points in the consumer market [2] - Apple’s iPhone 17 has entered large-scale production, with Foxconn ramping up hiring in its Zhengzhou factory [2] Company News - Yara International announced that its chairman was arrested for embezzlement and abuse of power [6] - A rumor involving the CEO of New Oriental Education led to a significant drop in the stock price of Oriental Selection, which issued a statement denying the rumors and initiating legal proceedings [6] - Dameng Data announced that its director and general manager has been detained [7] Global Market - US stock markets showed mixed results, with the Dow Jones reaching a historical high during the session, while the Nasdaq fell by 1.46% [8] - International crude oil futures prices fell by over 1%, with WTI down 1.69% and Brent down 1.22% [10] - COMEX gold futures fell by 0.56%, while silver futures dropped by 1.81% [11] Investment Opportunities - The global DRAM market size reached a historical high in Q2 2025, growing by 20% quarter-on-quarter to 32.101 billion USD, driven by AI demand and price increases in traditional DDR4/LPDDR4X [13] - The first low-altitude route connecting Kunshan and Shanghai has officially opened, with expectations for the low-altitude economy market to reach 859.17 billion yuan by 2025 [14] - The photovoltaic industry is experiencing price increases across the supply chain, with expectations for improved supply-demand dynamics and profitability recovery [15] - The foldable smartphone market is projected to grow significantly, with a compound annual growth rate of 49.48% from 2021 to 2027, driven by innovations in hinge technology and flexible screens [16]

Core Insights - The article discusses the anticipated growth of the foldable smartphone market, driven by Apple's expected entry in the second half of 2026, which is projected to increase the penetration rate of foldable phones from 1.6% in 2025 to over 3% by 2027 [2]. Group 1: Foldable Smartphone Market - The foldable smartphone hinge market is expected to reach a value of $1.2 billion by 2025, with the hinge cost accounting for approximately 5% to 8% of the bill of materials (BOM) for each device [3]. - Samsung has adopted a droplet hinge design in its Galaxy Z Fold 5 and Flip series starting in 2023, enhancing foldability and durability while reducing crease visibility, which has become a mainstream design in the industry [3]. - The industry is moving towards modular designs and standardization to reduce costs and improve yield rates, which will shift hinges from traditional material processing to system module supply [3][4]. Group 2: Apple’s Potential Impact - Apple is considering the use of liquid metal for structural components in its foldable devices, aiming to leverage the material's properties for lightweight and high toughness [5]. - The entry of Apple into the foldable smartphone market is expected to signal a maturation of the segment, with competition shifting towards manufacturing efficiency, cost control, and supply chain integration [5]. - Suppliers that can manage technology, capacity, and price flexibility will be key beneficiaries in the upcoming growth cycle as the market evolves [5].

目前相关供应商已加大投入，比如新日兴和Amphenol(安费诺)长期提供品牌高精度转轴与金属零组件， 适应水滴型铰链普及，积极导入标准化生产流程；东睦新材料集团、精研科技（300709）也凭借粉末冶 金与微型机构精密加工技术，逐步在折叠手机转轴、滑轨等关键零组件市场站稳脚跟，特别在中阶产品 线具备明显价格与量产优势。 Apple可能导入新材料，供应链有望升级整合 随着Apple进军折叠设备的时间日益临近，市场高度关注其可能采用的新材料与供应商。据了解，Apple 已纳入液态金属(liquid metal)为结构件材料的考量，希望利用材料特性确保产品兼具轻量与高韧性。目 前，宜安科技（300328）等中国厂商已具备液态金属成型能力，若Apple进一步导入3D打印、复合材质 与特殊工艺，势必将带动高阶结构件供应链全面升级。 Apple历来多非产业创新前段推手，而是倾向采取"早期多数族群(Early Majority)"策略入局，其等待折叠 手机市场趋于稳定，计划以差异化方式快速抢下市占，避免早期投入的风险与高研发成本。Apple入市 意味折叠手机迈向成熟应用，核心竞争将转向制造效率、成本控制，以及供应链整合。面对 ...

人民财讯8月19日电，根据TrendForce集邦咨询最新研究，市场预期Apple（苹果）于2026年下半年推出 折叠产品，将助力折叠手机渗透率从2025年的1.6%提升至2027年的3%以上。折叠手机历经多零件铰链 组装到一体化结构设计的技术演进，材质、结构和厚度的突破帮助机身变得更加轻薄，铰链技术的发展 更成为竞争的焦点。 ...

Core Insights - The article discusses the anticipated growth of the foldable smartphone market, driven by Apple's expected entry in the second half of 2026, which is projected to increase the penetration rate from 1.6% in 2025 to over 3% by 2027 [2] Group 1: Foldable Smartphone Market Trends - TrendForce forecasts that the global foldable smartphone hinge market will reach a value of $1.2 billion by 2025, with hinges currently accounting for approximately 5% to 8% of the bill of materials (BOM) cost per device [3] - Samsung has adopted a droplet-type hinge design in its Galaxy Z Fold 5 and Flip series starting in 2023, which improves folding flatness and durability while reducing the visibility of creases, becoming a mainstream design in the industry [3] - The industry is accelerating the push towards modular designs and standardization to reduce costs and improve yield rates, which will enhance overall assembly efficiency and optimize the profit structure of the supply chain [3] Group 2: Apple's Potential Impact - Apple is considering the use of liquid metal as a structural material for its foldable devices, aiming to leverage its properties for lightweight and high toughness, which could lead to a comprehensive upgrade of the high-end structural component supply chain [4] - Historically, Apple has preferred to enter markets once they stabilize, employing an "early majority" strategy to capture market share quickly while minimizing risks and R&D costs [4] - The entry of Apple into the foldable smartphone market signifies a maturation of the technology, shifting the core competition towards manufacturing efficiency, cost control, and supply chain integration [4]

Group 1 - The global television brand shipment volume reached 92.5 million units in the first half of 2025, representing a year-on-year increase of 2% due to early shipments by brands, which may pressure the second half of the year [2] - Samsung maintained its shipment volume at 16,550 thousand units in 1H25, with a slight decrease in market share from 18.2% in 2024 to 17.9% in 2025 [3] - TCL and Hisense showed significant growth, with TCL increasing shipments by 12.5% to 14,085 thousand units and Hisense by 7.3% to 13,820 thousand units, leading to an increase in market shares [3] Group 2 - Sanan Optoelectronics announced the acquisition of Lumileds for $239 million, aiming to reshape the global LED market landscape and join the top patent cross-licensing alliance [4] - Lumileds is ranked among the top seven LED packaging manufacturers globally, enhancing Sanan's market position and access to Lumileds' two decades of market experience [4][5]

Group 1 - Samsung Electronics has signed a semiconductor manufacturing agreement worth 22.8 trillion KRW (approximately 165 billion USD) with a global company, confirmed by Elon Musk for Tesla's next-generation AI6 chip production [3] - The contract period is from July 24, 2025, to December 31, 2033, highlighting the strategic importance of this partnership for both companies [3] - Tesla's Optimus robot production is significantly behind schedule, with only a few hundred units produced this year, far from the target of 5,000 units by 2025 [4] Group 2 - California's transportation regulators have halted Tesla's plans for a widespread Robotaxi service, restricting public testing and passenger services [5] - Mozilla's Firefox will cease operations in China, with the termination of Firefox accounts and synchronization features by September 29, 2025, while the browser will continue to function [6] - Alibaba has unveiled its first self-developed AI glasses, expected to be officially launched within the year, positioning them as the next significant personal mobile interface [7] Group 3 - Meta has appointed Shengjia Zhao as the chief scientist of its newly established Superintelligence Labs, recognizing his contributions to AI advancements [8] - Sony Group has acquired a 2.5% stake in Bandai Namco Holdings for approximately 68 billion JPY, aiming to promote and co-produce content [10] - Nvidia and AMD CEOs have expressed support for Trump's new AI action plan, which aims to boost the U.S. chip industry [9] Group 4 - Tata Consultancy Services (TCS) plans to lay off about 12,000 employees, approximately 2% of its global workforce, due to declining industry demand [14] - The expected shipment of foldable phones in 2025 is projected to reach 19.8 million units, maintaining a penetration rate of about 1.6% [15]

Group 1 - The estimated shipment volume of foldable phones is projected to reach 19.8 million units by 2025, with a penetration rate of approximately 1.6%, remaining stable compared to 2024 [1] - Although the growth rate has slowed compared to previous years, advancements in technology and price reductions are driving foldable phones to become a focal point in the mid-to-high-end market and a tool for brand differentiation [1] - Major manufacturers are accelerating the launch of new products and actively expanding their product lines and price ranges in preparation for a potential market explosion in 2026 [1] Group 2 - It is estimated that Blackwell will account for over 80% of NVIDIA's high-end GPU shipments in 2025, with the penetration rate of liquid cooling solutions continuing to rise [5] - The overall server market has stabilized recently, with ODMs focusing on the development of AI servers, and new Blackwell platform products are gradually being released [5]