专题：四大证券报精华 炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 1月14日（星期三），今日报刊头条主要内容精华如下： 中国证券报 工信部：加快培育三类工业互联网平台 工业和信息化部网站1月13日消息，工业和信息化部近日印发的《推动工业互联网平台高质量发展行动 方案（2026-2028年）》提出，从四方面推动工业互联网平台高质量发展，即开展"四个行动"，包括平 台培育培优行动、平台聚"数"提"智"行动、平台规模化应用行动、平台生态支撑行动。 八部门出台14项举措促进银发经济发展 民政部1月13日消息，民政部等八部门近日联合印发的《关于培育养老服务经营主体促进银发经济发展 的若干措施》提出，大力支持科技赋能养老服务，鼓励养老科技攻关及产品研发；积极探索脑机接口等 技术，为身体功能退化的老年人提供科技支撑。 国家发展改革委表示 今年将牵头制定循环经济发展"十五五"规划 国务院新闻办公室1月13日举行国务院政策例行吹风会，介绍《固体废物综合治理行动计划》有关情 况。国家发展改革委副主任周海兵在会上表示，行动计划是我国首个针对固体废物综合治理作出系统性 部署的专项文件，着力填补关键环节制 ...

Core Insights - Apple is set to launch several innovative products in 2026, including a foldable iPhone, AI-driven services, and hardware advancements that could significantly enhance consumer experience [1][4] Group 1: Product Launches - Apple plans to release its first foldable iPhone in September 2026, featuring a 5.4-inch display when folded, comparable to the iPhone 13 mini, and a larger screen when unfolded, similar in size to the original iPad mini [4] - The foldable iPhone is designed to be more compact than Samsung's foldable models, emphasizing portability [4] - In addition to the foldable iPhone, Apple will introduce a new version of Siri powered by large language models, along with affordable MacBook and MacBook Pro models, and AI smart glasses [4] Group 2: Market Positioning - Industry analysts predict that 2026 could be a pivotal year for Apple, marking a significant year of product innovation and the deep integration of AI into its ecosystem, potentially allowing Apple to gain a competitive edge in the market [4]

Core Insights - Apple is expanding its production in Vietnam and plans to launch several new home devices, including a security camera and a central control display device by 2026 [1][3] - The launch of a mobile desktop robot has been delayed to 2027 due to complex design and AI application challenges [1][3] Product Development - Apple plans to release an indoor security camera, codenamed J450, by the end of next year [3] - A new central control device is expected to be priced around $350, which is $50 more than the full-sized HomePod [3] - The new version of Siri is set to launch in March next year, enhancing its capabilities to control home appliances and provide answers from the internet [3] Production Challenges - The release of the central control device has been postponed to spring 2026 due to delays in AI software development [3] - Apple is researching ways to reduce manufacturing costs to potentially lower prices for initial or subsequent models [3] - The development of the desktop robot has been pushed back by approximately two years due to the complexity of its motor system design [3]

Group 1 - Apple plans to expand production in Vietnam, launching new home devices including an indoor security camera and a home control display in 2024, followed by a mobile desktop robot in 2027 [1] - The new home control device features a 7-inch display and was initially set to launch in March 2025, but has been delayed to spring 2026 due to AI software issues [1][2] - Apple is collaborating with BYD for the assembly, testing, and packaging of these new products, as well as expanding iPad production in Vietnam [1] Group 2 - The new home control device will be priced around $350, which is approximately $50 more than the full-sized HomePod, with efforts underway to reduce manufacturing costs [2] - The indoor security camera, code-named J450, is expected to launch by the end of next year, while the desktop robot's development has been delayed by about two years due to complex design and AI application challenges [2] - The desktop robot will feature a 9-inch display and is inspired by Apple's previously discontinued autonomous vehicle project, focusing on robotics research [3]

Group 1: Nvidia and China - China has reportedly requested local companies to avoid using Nvidia's H20 chip, particularly for government or national security-related work [1] Group 2: Tencent's Financial Performance - Tencent reported record-high advertising revenue in Q2, with total revenue of 676.15 billion yuan in the first half of the year and 357.62 billion yuan in Q2, marking a 20% year-on-year increase [3] - The company's total revenue for the first half of the year reached 3,645.26 billion yuan, a 14% year-on-year growth, with Q2 revenue showing a 15% increase [3] - Growth is attributed to AI-driven improvements in advertising platforms and enhanced WeChat transaction ecosystem, leading to strong demand from advertisers [3] Group 3: AI Developments in Malaysia - Malaysia introduced its first autonomous AI model "ILMU," developed by the Malaysian Institute of Artificial Intelligence and the University of Malaya, set to be available for public experience in September [5] Group 4: Apple's AI Product Plans - Apple is planning to re-enter the AI market with new products, including robots, an updated Siri, smart speakers with displays, and home security cameras, with a desktop robot expected to launch in 2027 [6] - The new AI camera is seen as a core component of Apple's security system, aimed at enhancing consumer engagement with Apple's product ecosystem [6] Group 5: Alibaba's Recruitment and Leadership Changes - Alibaba is launching a large-scale AI talent recruitment plan, aiming to hire nearly 1,000 people across various cities, focusing on cutting-edge technologies [8] - The departure of a key figure, known as the first programmer of Taobao, marks a significant change within Alibaba [8] Group 6: Financial Statistics - The People's Bank of China reported an increase of 18.44 trillion yuan in RMB deposits over the first seven months of the year, with household deposits rising by 9.66 trillion yuan [8]

Core Insights - Apple is ambitiously planning to re-enter the AI sector with a series of new devices, including robots, an updated Siri, smart speakers with displays, and home security cameras [1] - The centerpiece of this AI strategy is a desktop robot designed to serve as a virtual companion, expected to launch in 2027 [1] - A smart speaker with a display is anticipated to be released next year as part of Apple's entry into entry-level smart home products [1] - Home security is identified as a significant growth opportunity, with new AI cameras set to become central to Apple's security system [1] - This approach is expected to enhance consumer loyalty to Apple's product ecosystem [1]

Core Viewpoint - The tariff policy is entering a practical implementation phase, with risks gradually being released. The acceleration of AI development and the emergence of product innovations in 2026 will significantly benefit the supply chain [1][2]. Group 1: Tariff Policy and Trade Agreements - The recent trade agreement between the US and Vietnam, effective from July 2, imposes a 20% tariff on US exports to Vietnam, with transshipped goods facing a 40% tariff. Conversely, Vietnam applies a 0% tariff on US goods. The ongoing Section 232 investigation into semiconductors and electronic products is expected to conclude within 270 days, with the President having 90 days to decide on potential actions [2]. - The easing of tensions between the US and China, highlighted by the recent lifting of restrictions on EDA exports to China, suggests that the negative impact of tariff negotiations on the supply chain will gradually diminish [2]. Group 2: AI Development and Product Innovations - Apple is actively seeking external collaborations to enhance its AI capabilities, particularly in improving Siri through technologies from companies like Anthropic and OpenAI. This indicates a potential acceleration in the deployment of Apple's system-level AI [2]. - In 2026, Apple is expected to introduce products featuring 2nm chips, enhancing computational speed, and a new cooling system utilizing steel and copper. Additionally, the first foldable screen product is anticipated to be launched, showcasing advanced industrial design with features such as no creases, ultra-thinness, and high durability, which could lead to a significant increase in shipment volumes over the years [3].

Group 1: Currency and Economic Shifts - The decline of the US dollar's dominance is highlighted by the loss of the last AAA sovereign rating and increasing interest payments on national debt exceeding military spending, indicating a shift in global currency faith [1] - Japan's GPIF has reduced its US Treasury holdings in favor of Australian dollar assets, while Saudi Arabia has increased its allocation to RMB assets to 12%, signaling a gradual erosion of the dollar's foundation [1] - The dollar index has fallen for six consecutive months, with global funds fleeing dollar assets, while safe-haven currencies like the yen and Swiss franc have appreciated over 12% year-to-date, marking the largest increase in 30 years [1] Group 2: Stock Market Dynamics - The S&P 500 and Nasdaq indices have reached all-time highs, but this is driven by retail investors taking significant risks, with over 90% of buy orders during a market downturn coming from individual investors [4] - Institutional investors have been quietly reducing their holdings, with a 3.2% decrease in the first quarter for the "Tech Seven" stocks, while retail ownership surged to 90% [4] - Berkshire Hathaway has increased its cash reserves to a record $334.2 billion, indicating a cautious approach amidst rising concerns in the US Treasury market [4] Group 3: Technology Sector Challenges - The AI sector is facing disruption as China's DeepSeek releases an open-source model that challenges the pricing power of Silicon Valley giants, prompting companies like Apple and Microsoft to adjust their strategies [6] - Despite a temporary boost in tech stock performance, internal movements show executives at Nvidia cashing out over $1 billion, indicating a lack of confidence in sustained growth [6] - The divergence in tech stock performance is evident, with AI chip stocks like AMD and Intel declining, while traditional tech hardware companies like Cisco and AMD are seeing gains [6] Group 4: Corporate Earnings and Market Outlook - The upcoming earnings season will be critical for assessing corporate resilience, with expectations for S&P 500 earnings growth revised down from 9.3% to 7.1%, particularly affecting the energy and retail sectors [7] - The potential impact of increased tariffs and a $3.8 trillion tax cut plan on corporate profitability is raising concerns, as companies may struggle to absorb rising costs [7] - The market is at a crossroads, with the interplay of policy, technology, and capital dynamics suggesting that the current market rally may be masking underlying risks [9]