Core Insights - The article highlights the commercial value of Huawei's HarmonyOS ecosystem, emphasizing the importance of developer engagement and innovative service delivery methods [1][2]. Group 1: HarmonyOS Ecosystem Components - The HarmonyOS ecosystem is driven by three main engines: Harmony Smart Agent, Meta Services, and the App Gallery, which collectively enhance developer success [2][5]. - Harmony Smart Agent aims to make applications "intelligent" by providing personalized and proactive user experiences, thereby increasing user engagement and activating existing value [2][5]. - Meta Services focus on reducing customer acquisition costs and enhancing service distribution, allowing for a more tailored service experience that meets diverse user needs [2][3]. Group 2: App Gallery and User Engagement - The App Gallery serves as a curated platform that connects applications with users' real-life needs, moving beyond traditional app stores to provide a more personalized experience [4][5]. - The introduction of a curation system by professional editors has significantly improved user engagement, with homepage click-through rates increasing by 294% and download conversion rates rising by 56% [5]. - The App Gallery also supports small developers and public welfare applications, ensuring a diverse and healthy ecosystem [5]. Group 3: Developer and User Growth - As of now, the number of HarmonyOS developers has surpassed 8 million, with over 40 Huawei devices running HarmonyOS and more than 30,000 native applications and meta services in development [6]. - The ecosystem is addressing the "chicken and egg" problem of user base and application experience, with collaborative efforts from developers, partners, and consumers [6]. - The future of the HarmonyOS ecosystem is envisioned as a thriving "Harmony Garden," encouraging developers to actively participate and seize opportunities within the ecosystem [6].

Group 1 - The ChiNext Index rose over 1% on June 24, with the Shanghai Composite Index increasing by 0.22% and the Shenzhen Component Index rising by 0.71% [1] - The Sci-Tech Innovation Board Artificial Intelligence ETF (588930) experienced a morning surge, increasing by 1.48%, with significant gains in constituent stocks such as Cambricon Technologies (up over 5%) and others [1] - The ETF has seen a net inflow of over 20 million yuan in the past two days, indicating strong investor interest [1] Group 2 - According to Dongfang Securities, ongoing policy uncertainty is expected to drive the localization of supply chains, benefiting companies in semiconductor equipment, materials, and EDA sectors [2] - Domestic wafer manufacturers and memory chip producers are likely to increase their procurement of localized products to ensure supply chain security and capacity construction [2] - Industrial growth in the AI sector is highlighted by the emergence of innovative applications such as HarmonyOS intelligent agents and Agentic AI, with significant advancements in chip production expected by 2025 [2]

Group 1 - The A-share market experienced a rise and subsequent decline on June 23, with a notable performance in artificial intelligence (AI) themed stocks, particularly in the STAR Market AI Index [1] - The STAR Market AI ETF (588930) has seen an average daily trading volume exceeding 60 million yuan over the past 20 trading days, indicating high market interest [1] - Huawei announced the full launch of its next-generation Ascend AI cloud service based on CloudMatrix384 super nodes during its developer conference [1] Group 2 - The investment value of the AI sector is highlighted in the context of active technological innovation, with new applications like HarmonyOS intelligent agents and Agentic AI emerging [2] - Major companies such as Meta and Google are accelerating their development of ASIC chips, with expected shipments exceeding one million units by 2025, and a significant reduction in computing costs by 280 times over two years, facilitating large-scale AI deployment [2] - The advancements in AI technology indicate a rapid acceleration towards commercialization, with strong growth momentum across various segments of the industry chain, from educational hardware to cloud computing infrastructure [2]

Group 1: Cobalt Market - The Democratic Republic of Congo (DRC) has extended the temporary ban on cobalt exports for an additional three months due to high inventory levels, affecting all sources of cobalt mining [1] - According to USGS, global cobalt production in 2024 is estimated at 288,000 metric tons, with DRC contributing approximately 220,000 metric tons, a year-on-year increase of about 25%, representing 76.4% of the global market [1] - The extended ban is expected to impact global cobalt supply by over 100,000 metric tons this year, potentially leading to domestic supply shortages [1] Group 2: Cross-Border Payment - The launch of the "Cross-Border Payment Pass" on June 22 marks the realization of interconnectivity between the mainland and Hong Kong's rapid payment systems, allowing real-time cross-border remittances [2] - This innovation is anticipated to enhance the convenience of using the Renminbi in cross-border retail scenarios and further promote the internationalization of the Renminbi [2] - Analysts suggest that the "Cross-Border Payment Pass" and stablecoins will serve as new engines for industry development, improving cross-border transaction efficiency and supporting global financial governance [2] Group 3: Brain-Computer Interface - The first intervention-based brain-computer interface trial for restoring motor function in a paralyzed patient has been successfully completed in China, showcasing the country's innovation in core brain-computer interface technology [3] - Analysts believe that brain-computer interfaces are poised to become a core technology for human-machine interaction, with applications initially focused on medical rehabilitation and later expanding to education, entertainment, military, and industrial sectors [3][4] Group 4: High-End Medical Devices - The National Medical Products Administration has approved measures to optimize the lifecycle regulation of high-end medical devices, supporting innovation in this sector [5] - The measures include optimizing special approval processes, improving classification and naming principles, and enhancing post-market surveillance [5] - The high-end medical device market is expected to grow significantly, with projections indicating a market size of 1.27 trillion yuan in 2023, surpassing 1.8 trillion yuan by 2025, and reaching 3 trillion yuan by 2030, with a compound annual growth rate exceeding 11.5% [5][6] Group 5: Smart Factories - The Ministry of Industry and Information Technology has announced the 2025 action plan for cultivating smart factories, categorizing them into four levels: basic, advanced, excellent, and leading [6] - Smart factories are seen as the core vehicle for the digital transformation of manufacturing, integrating information technology, automation, and artificial intelligence to achieve intelligent and efficient production processes [6] - The smart factory market is projected to exceed 1.4 trillion yuan by 2025, with a compound annual growth rate of over 10%, and is expected to approach 4.5 trillion yuan by 2030 [6]

Core Viewpoint - The focus on alpha investment opportunities is becoming increasingly important as of late June, with recommendations to accumulate leading companies in core sectors and to pay attention to marginal changes in specific sectors and stocks [2][3]. Group 1: Alpha Investment Opportunities - Continuous emphasis on accumulating leading companies in core sectors to exchange time for space [2]. - Attention should be directed towards sectors and stocks with significant expected differences and marginal changes [2]. Group 2: Industry Insights - The Huawei HDC2025 conference introduced the HarmonyOS 6.0 developer beta version and showcased the HarmonyOS PC operating system, along with the first batch of over 50 Harmony smart devices, indicating a maturing ecosystem that benefits related companies [2]. - The announcement of the cross-border payment link between the People's Bank of China and the Hong Kong Monetary Authority, set to launch on June 22, is expected to facilitate direct payments between the mainland and Hong Kong, reducing cross-border remittance costs [2].

Core Insights - Huawei's HarmonyOS ecosystem has surpassed 8 million developers and over 40 terminal products since its launch on September 25, 2023, with more than 30,000 native applications and services in development [1][9] - The launch of HarmonyOS 6 developer beta marks a significant advancement, integrating AI capabilities and a new interconnected architecture [5][6] - The goal of achieving 100,000 applications by 2025 is crucial for the maturity of the HarmonyOS ecosystem, as emphasized by Huawei's leadership [4][9] Group 1: Ecosystem Development - HarmonyOS has completed a breakthrough from 0 to 1 in China's operating system landscape, but its survival hinges on building a robust ecosystem [4][7] - The competition in the mobile operating system market is expected to shift as HarmonyOS gains traction, with its global market share increasing from 2% to 4% and 17% in China, surpassing iOS [6][8] - Huawei is accelerating the development of native applications, with major apps like WeChat and Alipay already adapted for HarmonyOS [8][9] Group 2: Future Goals and Investments - Huawei aims to reach 100,000 applications by 2025, which is seen as a critical milestone for the ecosystem's maturity [9] - The company plans to invest over 6 billion RMB annually to support and incentivize developers, fostering continuous innovation within the HarmonyOS ecosystem [9] - Feedback from users is considered valuable for improving the ecosystem, with nearly 4 million suggestions received since the launch [9]

Core Insights - Huawei's HarmonyOS 6 has entered developer beta testing, marking a significant step in the evolution of its ecosystem [1] - The company claims that the Harmony ecosystem has transitioned from application homogenization to a phase of "exponential expansion" [1] - Over 50 new Harmony smart agents are set to launch alongside the developer beta of HarmonyOS 6, enhancing user experience and AI capabilities [1] Group 1 - The developer conference was held in Dongguan, Guangdong, where Huawei's Executive Director and Terminal BG Chairman Yu Chengdong made key announcements [1] - HarmonyOS 6 promises improved connectivity and smart agent experiences, with latency reduced to milliseconds [1] - The introduction of the Harmony Smart Agent Framework (HMAF) is a notable feature of HarmonyOS 6, aimed at evolving Harmony smart agents [1] Group 2 - The development of the Harmony ecosystem has taken 635 days, indicating a long-term commitment to its growth [1] - The new HarmonyOS 6 is expected to provide a more user-friendly experience across various scenarios [1] - The AI capabilities within HarmonyOS 6 are described as more open, suggesting a focus on enhancing developer engagement and innovation [1]

Core Viewpoint - Huawei is set to launch over 50 HarmonyOS intelligent devices, marking a significant shift in user interaction from a command-based approach to an intent-based approach [1] Group 1 - The HarmonyOS intelligent devices will enable a fundamental change in consumer interaction with the Harmony system and applications [1] - The intelligent devices are characterized by system-level security, trustworthiness, autonomy, personalized features, efficient collaboration among multiple intelligent agents, and natural processes across multiple devices [1] - This transition emphasizes a move from a traditional user-command-centered model to a user-intent-centered model [1]