长江商报消息 ●长江商报记者 潘瑞冬 声学龙头歌尔股份（002241.SZ）业绩持续回暖。 最新披露的半年报显示，2025年上半年，歌尔股份实现营业收入375.49亿元，同比减少7.02%；归母净 利润为14.17亿元，同比增长15.65%。 从单季度来看，歌尔股份归母净利润从2023年四季度开始回升，至今已经连续7个季度实现增长。 自2025年4月以来，歌尔股份的股价也进入了上涨通道，尤其是近期，公司的股价猛涨。K线图显示， 歌尔股份的股价从8月8日收盘的22.86元/股涨至8月25日收盘的30.96元/股，11个交易日涨幅达35%。公 司市值重回千亿元。 非经常损益助净利增长 在半年报发布的次日，歌尔股份发布子公司歌尔光学筹划股权交易的公告，歌尔光学拟以向交易对方增 发股份的方式收购上海奥来100%股权。具体增发股份数量将根据标的公司审计评估结果确定，预计交 易完成后，上海奥来原股东（宁波舜宇奥来技术有限公司）将持有歌尔光学约1/3的股权；歌尔光学原 股东（包括歌尔股份）将持有剩余约2/3的股权，其中歌尔股份仍为第一大股东，但持股比例可能降至 50%以下。 长江商报记者注意到，从营收区域来看，境外营收拖累 ...

Core Insights - Shenzhen's industrial development is facing challenges in 2025, with a year-on-year growth of 4.2% in industrial added value, a significant decrease from 12% in the same period last year [3][5] - The city needs to cultivate new leading enterprises to maintain its status as an industrial powerhouse, as traditional industries are experiencing a slowdown in growth momentum [5][12] Group 1: Current Industrial Performance - Shenzhen's industrial added value growth has slowed, indicating a critical transition phase between old and new growth drivers [1][3] - The automotive sector, particularly the electric vehicle industry led by BYD, has shown a sales volume of over 4.27 million units in 2024, with a year-on-year growth of 41.1%, but is facing challenges in maintaining growth due to increased competition [3][5] Group 2: Emerging Industries and Opportunities - New industries such as smart hardware, robotics, and low-altitude economy are showing growth rates exceeding 30%, becoming vital for sustaining industrial progress [7][9] - Shenzhen's "20+8" industrial policy is evolving to include low-altitude economy and artificial intelligence as key growth areas, which are expected to foster the next generation of leading companies [7][13] Group 3: Future Prospects for New Giants - The potential for the next major enterprise in Shenzhen is likely to emerge from the smart hardware sector, with a complete industrial ecosystem already in place [9][10] - The city is home to over 57,000 robotics-related companies, positioning it as a leading hub for robotics innovation [9][10] Group 4: Strategic Recommendations - To continue nurturing world-class companies, Shenzhen must leverage its unique policy environment and robust electronic information supply chain [12][14] - There is a need to address the shortfall in higher education institutions to support innovation, particularly in fields like integrated circuits and artificial intelligence [14]

Core Insights - Baseus has rapidly grown in the global 3C electronics market, focusing on user-centric product design and operational models since its establishment in 2011 [1] - The company has expanded its product lines from basic accessories to include charging, automotive, and smart monitoring products, targeting three main scenarios: audio-visual entertainment, smart office, and smart travel [1] Group 1: Company Growth and Strategy - Baseus has over 1200 design patents, 1300 utility model patents, and 35 invention patents, showcasing its commitment to innovation [2] - The company initiated its globalization strategy in 2017, starting with Southeast Asia and quickly expanding to the U.S. market in 2019, where it launched innovative products like gallium nitride fast chargers and smart headphones [2] - By 2023, Baseus achieved annual revenue exceeding 5 billion yuan and established over 600 offline stores in more than 180 countries, serving over 300 million users [6] Group 2: Market Penetration and Product Customization - Baseus employs a localized operational strategy, customizing products to meet regional consumer preferences, such as colorful Bluetooth headphones for Southeast Asia and professional designs for Latin America [8] - The company has built a dual-channel global marketing network, with online sales contributing 60% of total overseas revenue, leveraging platforms like Amazon, Shopee, and TikTok [8][10] - Baseus has successfully entered over 1400 retail locations in North America through partnerships with major retailers like Target, enhancing brand visibility [10] Group 3: Market Trends and Opportunities - The global consumer electronics market is projected to grow from $864.73 billion in 2025 to $1,467.94 billion by 2032, with a compound annual growth rate of 7.85% [13] - Different regional markets exhibit distinct demands, with China focusing on outdoor and entertainment products, while the U.S. and Europe prioritize emotional experiences and smart home devices [13]

Group 1 - The article highlights the "magnetic effect" of the Chinese market, attracting foreign personnel and investment, with Shenzhen's Huaqiangbei receiving over 7,000 foreign visitors daily [1][15][17] - Foreign investment in China is on the rise, with 24,000 new foreign-invested enterprises established from January to May, a year-on-year increase of 10.4% [12][19] - The manufacturing sector is seeing significant foreign interest, exemplified by Henkel's new factory in Jiangsu and Tesla's Shanghai energy factory, which has a planned annual production capacity of 10,000 Megapacks [4][9][11] Group 2 - The financial sector is also experiencing a surge in foreign investment, with institutions like Temasek and AIA establishing operations in China, benefiting from the country's financial openness [11][22] - The article notes that foreign companies are increasingly recognizing China's potential for consumption upgrades and its complete supply chain system, which enhances its competitive advantage [12][14] - Visa facilitation policies have improved the ease of doing business for foreign nationals, contributing to a 33.4% year-on-year increase in foreign visitors [19][20] Group 3 - The article discusses the strategic importance of Hong Kong as a gateway for foreign investment into China, with a notable increase in foreign capital inflow despite geopolitical tensions [22][23] - Recent data indicates that foreign investors are increasingly interested in long-term strategic investments in China, moving beyond mere financial investments [25][26] - The article emphasizes that China's ongoing economic transformation is expected to create numerous new development opportunities, further attracting global capital [26]

Group 1: Tesla's Energy Business Expansion - Tesla's Shanghai energy factory, the second of its kind globally, has been operational for over four months, producing Megapack energy storage systems that can meet the electricity needs of 3,600 households for one hour [1][2] - The factory has a planned annual production capacity of 10,000 Megapacks and has already begun exporting to Europe and Oceania [1] - The first Megapack was produced on February 11, marking the official start of operations at the Shanghai facility [1] Group 2: Investment in China's Energy Sector - Tesla signed a contract for its first grid-side energy storage project in China, with a total investment of 4 billion yuan, expected to meet over half of Shanghai's seasonal electricity adjustment needs [2] - The first phase of the project is anticipated to be operational this year, with a storage capacity of 300 megawatt-hours [2] Group 3: Foreign Investment in Manufacturing - Henkel has launched a consumer brand factory in Taicang, Jiangsu, as part of its strategy to deepen its presence in the Chinese market [2][3] - The acquisition of a factory from Suzhou Boke Biotechnology is aimed at enhancing production capacity and efficiency for Henkel's well-known brands [3] Group 4: Financial Sector Expansion - Several foreign financial institutions are accelerating their entry into the Chinese market, benefiting from the country's financial openness [3] - Recent approvals for insurance asset management companies in Shanghai highlight the growing interest from foreign players in China's financial sector [3] Group 5: Foreign Investment Trends - Data shows that from January to May, 24,000 new foreign-invested enterprises were established in China, a year-on-year increase of 10.4% [5] - Surveys indicate that 76% of British companies and over half of German companies plan to maintain or increase their investments in China by 2025 [5] Group 6: Hong Kong as an Investment Hub - Hong Kong has become a key entry point for foreign capital into China, with a notable increase in foreign investment activities despite ongoing geopolitical tensions [12] - The Hong Kong stock market has seen significant interest from global investors, particularly in technology and consumer sectors, with the Hang Seng Index rising over 20% since 2025 [14] Group 7: Foreign Business Activity in Shenzhen - The influx of foreign merchants in Huaqiangbei, Shenzhen, reflects the strong appeal of the Chinese market, with daily foreign visitor numbers exceeding 7,000 [6][10] - Recent visa facilitation policies have further enhanced the ease of doing business for foreign investors in China [11]

Group 1 - The influx of foreign merchants in Huaqiangbei reflects the increasing confidence of foreign investors in the Chinese market, driven by favorable visa policies and enhanced business facilitation measures [1][5]. - Huaqiangbei, known as "China's electronic first street," has become a hotspot for foreign buyers, with an average of over 7,000 foreign visitors daily, indicating a strong demand for electronic products [2][3]. - The competitive pricing and quality of Chinese products, particularly in the technology sector, are major attractions for foreign buyers, making China an appealing destination for investment [3][4]. Group 2 - The implementation of the 240-hour visa-free transit policy has significantly boosted foreign arrivals, with 9.215 million foreign visitors recorded since its introduction, marking a 40.2% increase compared to the previous year [5]. - Various cities, including Beijing and Shanghai, have introduced special visa policies for foreign business personnel, enhancing the ease of doing business in China [5]. - The overall increase in inbound business travel and the expansion of foreign enterprises' activities in China demonstrate the market's robust vitality and attractiveness [4][5].

Core Insights - Fourth Paradigm's Vice President Yu Hui presented at Huawei Developer Conference 2025, focusing on AI smart hardware development based on OpenHarmony and Hisilicon chips [1][6] - The company emphasizes the shift from traditional cloud models to edge models, highlighting benefits such as reduced latency, enhanced privacy, and offline capabilities [3][9] - Fourth Paradigm aims to contribute to the open-source Harmony ecosystem, inviting developers to participate in building a collaborative development environment [6][13] Edge Model Development - The edge model developed by Fourth Paradigm allows for local deployment, improving response speed and privacy while lowering costs compared to traditional cloud models [3][9] - The company has created an open platform that encourages participation from a wider range of developers, enhancing the potential for model performance [3][6] Product Development - Fourth Paradigm is developing a series of AI smart hardware products, including smartwatches, smart glasses, smart headphones, and smart speakers, leveraging OpenHarmony and Hisilicon chips [7][9] - The collaboration between Fourth Paradigm, OpenHarmony, and Hisilicon chips is seen as a significant step in integrating AI technology with operating systems and core chips [9][13] Industry Context - The Huawei Developer Conference serves as a major platform for technological advancements and trends in the ICT sector, showcasing innovations in distributed capabilities and smart interconnectivity solutions [10][11] - OpenHarmony is designed for seamless interconnectivity, allowing devices to share computational resources, thus creating a more integrated smart ecosystem [11][12]

Group 1: Core Initiatives - Shenzhen has launched a comprehensive plan to boost consumer spending, focusing on enhancing residents' consumption capacity and willingness, increasing the supply of quality and diverse consumer goods, and strengthening policy support and guarantees [1][2][3] - The plan includes 39 specific measures aimed at expanding consumption demand and promoting a vibrant consumer market, with the goal of establishing Shenzhen as a globally influential consumption center [1] Group 2: Enhancing Consumer Capacity - The plan proposes actions to increase residents' income, including job recruitment initiatives that offer subsidies up to 100,000 yuan for eligible job seekers [2] - It aims to provide vocational skills training for over 60,000 individuals by 2025 and expand the evaluation scope for skilled talent in specialized enterprises [2] - Additional measures include improving maternity and child care services, with plans to establish over two pediatric specialty clinics and ten reproductive health institutions by 2025 [3] Group 3: Optimizing Consumption Environment - Shenzhen will reduce restrictions on car purchases and usage, streamline approvals for cultural and sporting events, and enhance management of outdoor promotions and nighttime consumption venues [3] - The city will support large commercial enterprises in utilizing their own spaces for promotional activities, fostering a more dynamic retail environment [3] Group 4: Diversifying Consumer Supply - The plan emphasizes the development of a unique industrial consumer goods cluster, promoting artificial intelligence terminals and encouraging flagship stores for smart devices in key locations [4] - It aims to enhance the quality of dining services by supporting well-known food brands to establish their presence in Shenzhen and nurturing affordable chain restaurants [4] - The initiative also includes promoting the integration of cultural, sports, and tourism consumption, with plans to develop low-altitude and cruise consumption experiences [4] Group 5: Expanding Duty-Free Opportunities - Shenzhen plans to establish and operate city-based duty-free shops, add port duty-free stores, and set up 40 tax refund shops to enhance inbound consumer spending [5]

Group 1: Core Initiatives - Shenzhen has launched a comprehensive plan to boost consumer spending, focusing on enhancing residents' consumption capacity and willingness, increasing the supply of quality and diverse consumer goods, and strengthening policy support and guarantees [1][2][3] - The plan includes 39 specific measures aimed at expanding consumption demand and promoting a vibrant consumer market, with the goal of establishing Shenzhen as a globally influential consumption center [1] Group 2: Enhancing Resident Income and Employment - Shenzhen will implement actions to increase residents' income, including job recruitment initiatives that offer subsidies up to 100,000 yuan for eligible job seekers with different educational backgrounds [2] - The city plans to provide vocational skills training for over 60,000 individuals by 2025 and expand the evaluation scope for skilled talent in specialized enterprises [2] Group 3: Improving Consumer Services and Reducing Barriers - The plan emphasizes enhancing childcare and education services, with goals to open over 50 new schools and create 100,000 new student placements by 2025 [3] - Shenzhen aims to reduce restrictions on car purchases and usage, streamline approvals for entertainment events, and support outdoor promotional activities for businesses [3] Group 4: Diversifying Consumer Offerings - Shenzhen will promote a cluster of industrial consumer goods, particularly in artificial intelligence products, by encouraging flagship stores and rental points for smart devices in key locations [4] - The city seeks to elevate the quality of dining services and support the establishment of well-known food brands, while also fostering the development of property and home services [4] Group 5: Expanding Tourism and Duty-Free Shopping - The plan includes the establishment of city-operated duty-free shops and additional tax refund stores to enhance inbound consumer spending [5] - Shenzhen will promote multilingual AI translation products in various tourist and commercial areas to facilitate international visitors [5]

Group 1 - The core viewpoint of the article is that Shenzhen has launched a comprehensive consumption promotion plan aimed at enhancing residents' consumption capacity and willingness, increasing the supply of quality and diverse consumption options, and strengthening policy support and guarantees [1][3] - The plan includes 39 specific measures that focus not only on material consumption but also on service consumption in cultural and spiritual areas, addressing both short-term consumption constraints and deeper issues like income expectations and institutional restrictions [1][2] - Measures such as increasing support for childbirth and education, and reducing medical and elderly care burdens are included, which indirectly enhance residents' consumption capacity and willingness [1][2] Group 2 - The plan addresses the issue of overdue payments, proposing that large enterprises and government agencies must settle accounts with small and medium-sized enterprises within a maximum of 60 days, which is a novel approach to boosting consumption [2] - In the housing sector, the plan expands the use of housing provident funds, allowing eligible buyers to withdraw funds for down payments, which is expected to lower the barriers for homebuyers significantly [2][3] - The plan supports Shenzhen's unique industries, particularly in artificial intelligence, by promoting smart products in key commercial areas, which aligns with the consumption preferences of local residents [3]