Group 1 - The article discusses the increasing prevalence of using smartphones in wet environments, such as while showering, due to advancements in water resistance technology [3][5][7] - It highlights the contradiction between the marketing of water-resistant features and the reality that no smartphone is permanently waterproof [7][15][30] - The article explains the IP rating system, which measures the ingress protection of electronic devices, detailing how the ratings are not strictly progressive and can vary significantly in real-world scenarios [8][10][20] Group 2 - The article notes that while foldable smartphones have achieved high IP ratings, the complexity of their design makes achieving dust resistance more challenging than water resistance [12][13] - It emphasizes that the actual usage conditions of smartphones are often more complex than the controlled testing environments used to determine IP ratings, leading to potential misunderstandings about their water resistance capabilities [17][23][24] - The article concludes that while manufacturers may advertise their products as water-resistant, the real-world conditions can lead to failures that are not covered under warranty due to the limitations of the IP rating system [21][30]

Core Viewpoint - Apple is transitioning away from the L-shaped battery design in the iPhone 17 Pro, opting for a new structure that allows for a more standardized battery shape, indicating a significant internal design change and a move towards more conventional battery technology [1][3][13]. Battery Design Changes - The iPhone 17 Pro will feature a redesigned battery structure, with the U.S. version having a larger, flatter battery due to the removal of the physical SIM card slot, while the Chinese version retains the SIM card tray, leading to localized adjustments in battery shape [1][3]. - The new battery design eliminates the need for the L-shaped configuration, which was originally created to accommodate the compact internal layout of previous iPhone models [4][7]. Industry Context - The L-shaped battery was a temporary solution to space constraints in smartphone design, not a technological advancement, and its decline signifies a return to more efficient and standardized battery structures [4][8]. - Other smartphone manufacturers, particularly in the Android space, have also utilized irregular battery shapes to maximize internal space, but this trend indicates a broader issue of limited internal space in devices [6][8]. Cost and Repair Implications - Irregular battery shapes increase production costs due to the need for specialized molds and complicate repair processes, which could be a disadvantage in markets with strict repairability regulations [7][8]. - The complexity of these designs can lead to thermal management issues, as irregular shapes may not distribute heat evenly, complicating cooling solutions [7]. Advancements in Battery Technology - Domestic smartphone brands have demonstrated that large-capacity batteries do not require irregular shapes, with examples of devices featuring batteries exceeding 5000mAh without compromising design [9][10]. - Innovations in battery materials, such as silicon-carbon anodes, are allowing for higher energy densities and more efficient designs, moving away from the need for irregular battery shapes [10][12]. Future Outlook - The shift away from L-shaped batteries by Apple suggests a recognition of evolving consumer expectations regarding battery life and performance, as well as a response to competitive pressures from domestic brands [14][16]. - As the industry progresses, the focus will likely shift towards more sustainable and efficient battery solutions, moving beyond the limitations of irregular battery designs [12][14].

Group 1 - China's June PMI data is set to be released on June 30, with May's manufacturing PMI at 49.5%, up 0.5 percentage points from April, indicating an improvement in manufacturing sentiment. The non-manufacturing business activity index was at 50.3%, down 0.1 percentage points from April, while the composite PMI output index rose to 50.4%, up 0.2 percentage points from April, suggesting overall economic expansion [1]. - The People's Bank of China will have a total of 20,275 billion yuan in reverse repos maturing this week, with specific maturities scheduled from Monday to Friday [2]. - The U.S. Chicago PMI for June will be released on June 30, with May's figure reported at 40.5, below the expected 45.0 and previous value of 44.6 [3]. Group 2 - The European Central Bank's annual forum will take place in Sintra, Portugal, from Monday to Wednesday, focusing on "Adapting to Change: Macroeconomic Transformations and Policy Responses," featuring leaders from major central banks [4]. - The U.S. non-farm payroll data for June will be released on July 3, with expectations for the unemployment rate to remain at 4.2% and job growth to decrease from 139,000 to 129,000 [5]. Group 3 - The 2025 Global Digital Economy Conference will commence on July 2, themed "Building Digital Friendly Cities," aiming to create a platform for cooperation in the digital economy [7]. - The price adjustment window for refined oil is set for July 1 at 24:00, with an expected price increase of 290 yuan per ton, although this is a reduction of 55 yuan per ton from previous estimates [8]. - Shanghai Lego Resort will open on July 5, featuring a tiered ticket pricing system starting at 255 yuan for children and 319 yuan for adults [9]. - Honor's new foldable phone, Magic V5, will be unveiled on July 2, promising to set a new record for thinness in the inward-folding category at 8.8mm [10]. Group 4 - The fourth Solid-State Battery Conference will be held on July 3, followed by the 2025 Electrolyte Innovation Development Forum on July 9, and the 2025 Shanghai International Distributed Energy Storage and Solid-State Battery Conference at the end of July [11]. - Keheng Co. announced a strategic cooperation agreement with Beijing Pure Lithium New Energy Technology, focusing on a full-chain partnership in solid-state lithium-ion battery production [12]. - Huahai Qingke plans to invest up to 500 million yuan in a wafer recycling expansion project in Kunshan, Jiangsu, with an initial capacity of 200,000 pieces per month [13]. - Shijia Photon is planning to acquire a controlling stake in Dongguan Fuke Xima Communications Technology through a combination of stock issuance and cash payment, with the stock suspension expected to last no more than 10 trading days [14]. - Qin'an Co. is also planning to acquire 99% of Yigao Company through a similar method, with stock suspension starting June 30 [15]. Group 5 - A total of 68 companies will have their restricted shares unlocked this week, with a total of 3.165 billion shares, valued at approximately 81.671 billion yuan based on the closing price on June 27 [17]. - The peak unlocking date is June 30, with 32 companies unlocking shares worth a total of 52.169 billion yuan, accounting for 63.88% of the week's total unlocking volume [17]. - The top three companies by unlocking value are Zhong Wurenji (20.02 billion yuan), Dize Pharmaceutical-U (13.272 billion yuan), and Gailun Electronics (6.942 billion yuan) [17]. Group 6 - One new stock is set to be issued this week, with approximately 10 million shares expected to raise 840 million yuan, specifically for Tongyu New Materials on July 1 [21]. - The market sentiment is expected to remain optimistic in the short term, supported by policies and upcoming political meetings, despite pressures from exports and industrial profit declines [24][25]. - The market is anticipated to continue a slight upward trend in July, influenced by easing trade tensions and potential macroeconomic policy enhancements [26].

Economic News - The Ministry of Commerce will accelerate the review of export license applications related to rare earths, emphasizing the importance of maintaining global supply chain stability [2] - The Ministry of Commerce highlighted the significance of China-EU trade relations, aiming for healthy and stable development of bilateral trade and investment cooperation [2] - The Lujiazui Forum in Shanghai discussed the core role of capital markets in the modern economic and financial system, with international attendees expressing confidence in China's capital market [2] - JD.com is testing a compliant stablecoin in Hong Kong, aiming for a launch in Q4 2025, focusing on traditional cross-border trade markets [2] - The Financial Regulatory Bureau issued guidelines to prevent "involution" competition in dividend insurance levels among insurance companies [2] Company News - Taiji Co., Ltd. will have Changjiang Industrial Group as its indirect controlling shareholder, with stock resuming trading on June 20, 2025 [6] - Guosen Securities' acquisition of 96.08% of Wanhua Securities has been approved by the Shenzhen Stock Exchange's M&A Review Committee [6] - Shengnuo Bio expects a net profit increase of 253.54%-332.10% year-on-year for the first half of 2025 [6] - Kanda New Materials plans to acquire at least 51% of Zhongke Huami's equity in cash [7] Industry Insights - In Q1 2025, China's smart glasses market shipped 494,000 units, a year-on-year increase of 116.1%, with audio and audio-capturing glasses seeing a 197.4% increase [5] - The coal industry saw a decrease in domestic coal prices, while offshore prices for Australian and European coal increased [8] - The real estate market showed a narrowing decline in new home sales, with second-hand home transactions improving [19] - The insurance sector is expected to face slower growth in 2025 compared to 2024, but long-term value and high dividend investment logic remain strong [21]