当日傍晚，上证报记者在深圳万象天地华为旗舰店看到，华为Mate 80系列全系产品已在门店上架。新机的信息显示，除华为Mate 80继续搭载麒麟 9020芯 片外，其余产品均搭载了新一代麒麟芯片——HUAWEI Kirin 9030 系列处理器。 华为Mate 80部分产品搭载了新一代麒麟芯片。杨仪摄 记者在门店看到，华为Mate 80系列手机展示台被围得水泄不通，消费者争相体验新机，并围绕手机芯片、影像、AI功能、价格等不停发问。 消费者争相体验新机。杨仪摄 在芯片方面，记者在手机的配置信息上看到，华为Mate 80继续搭载HUAWEI Kirin 9020处理器；华为Mate 80 Pro 12G版本搭载了HUAWEI Kirin 9030处理 器；华为Mate 80 Pro 16G版本、Mate 80 Pro Max及 Mate 80 RS非凡大师均搭载了HUAWEI Kirin 9030 Pro处理器。 11月25日下午，华为正式发布华为Mate 80系列手机。发布会上，华为常务董事、产品投资委员会主任、终端BG董事长余承东提到，通过软、硬、芯垂直 整合，Mate 80系列手机性能大幅提升，其中华为Ma ...

余承东表示："Mate 80系列实现了设计、屏幕、性能、影像体验的跨越式提升，产品力全方位突破。实 力破圈，开启新篇。" 今年10月22日，华为正式发布鸿蒙6，带来全新鸿蒙智能体框架。此次，华为Mate 80系列高端旗舰手机 亦首发搭载鸿蒙6。另外，全新折叠屏旗舰华为Mate X7搭载全新一代玄武水滴铰链，从架构设计到核 心材料实现全方位迭代升级，并搭鸿蒙6，软硬协同实现整机性能提升42%。 此次，华为终端智能体"小艺"全面升级，覆盖AI学习、影像、办公、生活与社交等领域，"小艺帮帮 忙"可实现一键复购、查看攻略等实用服务，提升日常使用便捷性。 11月25日，在华为Mate 80系列|Mate X7及全场景新品发布会上，华为技术有限公司（以下简称"华为"） 宣布推出华为Mate 80系列、折叠屏手机Mate X7手机以及华为智慧屏MateTV MAX等多款新品，全面展 示其在智慧办公、影音娱乐、智能家居等诸多场景的创新成果，加速为消费者打造全场景智慧生活体 验。 华为常务董事、产品投资委员会主任、终端BG董事长余承东在会上回顾了华为在折叠屏领域的征程。 他表示，自2019年华为发布首代折叠屏旗舰以来，华为七年 ...

11月25日下午，华为正式发布直板旗舰Mate 80系列以及新一代双折叠屏手机Mate X7。华为常务董事、终端BG董事长余承东公布了产品起售价：Mate 80 基础版4699元起，Mate 80 Pro系列5999元起，Mate 80 Pro Max系列7999元起，Mate 80 非凡大师系列11999元起。 作为对比，华为去年发布的Mate70系列起售价为5499元，Mate70 Pro起售价6499元，Mate70 Pro+起售价8499元，Mate70 RS 非凡大师起售价11999元。 这意味着，在上游芯片、内存等供应链成本普遍上涨的背景下，Mate 80系列的多款机型逆势实现了价格下探：其中Mate 80起售价较上一代降低800元， Mate 80 Pro与Mate 80 Pro Max系列也比上一代同档机型降价500元。 | mate80系列起售价 | | mate70系列起售价 | | | --- | --- | --- | --- | | Mate80 | | Mate70 | | | 12GB+256GB 4699元 | | 12GB+256GB 5499元 | | | 12GB+512 ...

11月25日下午，华为正式发布了备受关注的Mate80系列手机。 标准版起售价4699元，比上一代降低800元；Pro版起售价5999元，比上一代降低500元；Pro Max版起售价7999元，比上一代降低500元；RS 非凡大师起售价 11999元，与上一代相比持平。 在存储大涨价的背景下，今年安卓旗舰手机的售价都在上调，华为的降价有些逆势而行。 根据华为终端BG董事长余承东介绍，华为Mate80全系采用全金属机身，搭载3D TOF超精密前置设计，可实现3D人脸识别解锁与支付。 在屏幕上，华为Mate80全系搭载2.5D直屏，Mate80 Pro Max首发搭载了灵珑屏，亮度高达8000nits，是业界最亮的手机屏。 但他提到，在软硬芯云垂直整合能力下，华为Mate80性能比上代提升35%，Pro版比上代提升35%，Pro Max版行业首发超冷双相变散热系统，16GB版性能比 上代提升42%。 在性能上，余承东并没有如外界预期介绍麒麟9030芯片。 在通信能力上，余承东提到，华为Mate80系列是业界通信功能集成度最高的手机，支持"天网"、"地网"和"无网"通信，Pro Max版支持全向卫星寻呼。 在影像上 ...

Group 1: Economic Events and Data Releases - The U.S. Labor Department will release the September PPI on November 25, and the third quarter GDP revision along with personal income, spending, and PCE price index will be published on November 26 [9][10] - China's October industrial enterprise profits increased by 21.6% year-on-year, and the official manufacturing PMI for November is expected to be 49 [11] - The U.S. economy is projected to grow over 3.0% in the current quarter, driven by consumer spending, with no significant acceleration expected in the PCE price index [10] Group 2: Corporate Earnings Reports - Key earnings reports are anticipated from Alibaba, Meituan, Li Auto, NIO, and Pony.ai, with Alibaba's report scheduled for November 28 and Meituan's for November 29 [6][7] - Newly listed companies such as Pony.ai and WeRide, along with Dell, HP, Chow Tai Fook, and Bosideng, are also set to release their earnings [7] Group 3: Major Corporate Events - Huawei is set to hold a product launch event on November 25, where the Mate 80 series and new Kirin chips are expected to be unveiled [16][17] - The first domestic GPU stock, Moore Threads, will be available for subscription on November 24, with an issue price of 114.28 yuan per share, marking the highest issue price of the year [18] Group 4: Political and Regulatory Developments - Trump plans to sign an AI policy called the "Genesis Mission" at the White House, which may involve increased collaboration between national laboratories and the private sector [14][15] - Trump has set November 27 as the deadline for Ukraine to accept the U.S. "28-point plan" for peace, which includes commitments from Ukraine regarding NATO [12][13] Group 5: Market Sentiment and Predictions - Michael Burry has indicated that major tech companies are underestimating depreciation, leading to inflated profits, with details to be disclosed on November 25 [19][20]

Group 1: Key Economic Events - The week of November 24-30 will feature significant financial events, including earnings reports from Alibaba, Meituan, Li Auto, NIO, and Pony.ai, as well as the Huawei product launch for the Mate 80 series [6][7] - The U.S. Department of Labor will release the September PPI on November 25, while the U.S. Commerce Department will publish the third-quarter GDP revision and October personal income and spending data on November 26 [9][10] - China's official manufacturing PMI and October profits of industrial enterprises will be released next week, with the manufacturing sector showing signs of a slowdown [10] Group 2: Corporate Earnings - Alibaba's earnings report is scheduled for November 25 before the U.S. market opens, followed by Meituan on November 29, and earnings from Li Auto and NIO also expected [7][8] - Newly listed companies such as Pony.ai and WeRide will also report earnings, alongside established firms like Dell, HP, and Bosideng [7] Group 3: Political and Regulatory Developments - Trump plans to sign an AI policy called the "Genesis Mission" at the White House, which may involve increased collaboration between national laboratories and private sectors in AI technology [12] - Trump has set a deadline of November 27 for Ukraine to accept the U.S. "28-point plan," which includes commitments from Ukraine regarding NATO and peace negotiations with Russia [11][12] Group 4: Market Insights - Michael Burry has indicated that major tech companies are underestimating depreciation, which could inflate profits by $176 billion from 2026 to 2028, with specific companies like Oracle and Meta facing significant profit overstatements [12][13]

Core Viewpoint - Huawei is set to hold a product launch event on November 25, 2023, where it will unveil the Mate 80 series, Mate X7, and several other products, indicating a strong push in the high-end smartphone market [3][6]. Group 1: Product Launch and Features - The Mate 80 series will feature a new naming strategy, changing from Pro+ to Pro Max, aligning more closely with Apple's branding [6]. - The series is expected to adopt a full metal body design, potentially becoming the first high-end flagship phone to overcome the challenge of signal integrity with a metal casing [7]. - All models in the Mate 80 series will return to a flat screen design and include advanced features such as 3D facial recognition and side-mounted fingerprint sensors [8]. Group 2: Technology and Specifications - The Mate 80 series may debut with the new Kirin 9030 chip, with Huawei having previously showcased its chip development roadmap [8]. - The new HarmonyOS 6 will be featured, emphasizing the Harmony intelligent framework and supporting file transfers with Apple devices, achieving transfer speeds of up to 160MB/s [8]. Group 3: Market Performance and Trends - According to Counterpoint, Huawei's market share in the Chinese smartphone market remains stable at 16.4%, despite a 2.6% decline in sales year-on-year [9]. - The Chinese foldable smartphone market is experiencing a recovery, with Huawei holding nearly 70% market share, and total shipments expected to approach 10 million units by 2025 [10].

Core Insights - The smartphone industry is transitioning from "hardware competition" to "intelligent evolution" by 2025 [1] - AI and form innovation are the two core competitive directions for smartphone manufacturers, representing both technological innovation and brand differentiation [2] AI Development and Strategy - Domestic smartphone manufacturers are accelerating their AI strategies, with Honor being particularly aggressive, launching the Magic 8 and the first Honor AI Terminal Ecological Conference [4] - Honor's Magic 8 emphasizes "self-evolving AI native phone" with the upgraded MagicOS 10, featuring various AI agents supported by the MagicGUI model, which integrates multimodal data for task execution [6] - Honor's AI strategy includes the HONOR AI Connect platform and eight AI solutions, aiming to lower the entry barrier for ecosystem partners and promote collaboration across various industries [6][7] Competitive Landscape - Other major domestic manufacturers are also enhancing their AI capabilities, with Huawei launching HarmonyOS 6 and over 80 AI applications, OPPO introducing intelligent computing frameworks, and vivo integrating multimodal reasoning models [7] - The evolution of AI in smartphones is shifting from isolated features like voice assistants to system-level intelligent collaboration, with AI capabilities moving from cloud to edge computing [7] Consumer Insights and Market Trends - According to Omdia, Chinese consumers frequently use AI features such as AI tools, smart voice assistants, photo editing, enhanced search engines, and real-time translation [8] - There is a noted disconnect between the AI capabilities highlighted by manufacturers and the features most used by consumers, although significant improvements have been made in functionality and user experience over the past year [8][9] Future Directions - Manufacturers need to effectively communicate their AI development roadmap to consumers and partners, focusing on user pain points to enhance understanding and retention of AI features [9] - Form innovation is evolving alongside AI, with new designs like foldable and robotic phones being explored, indicating a shift towards embodied intelligence [9][10] - Honor views the AI Phone era as the next stage in smartphone evolution, following the feature phone and smartphone eras, with ongoing exploration into new hardware directions [10]

Core Viewpoint - Under market pressure, China Feihe is taking various measures to stabilize its position, including launching new products that replicate the nutritional ecology of breast milk [1][2]. Company Performance - Feihe's revenue for the first half of the year decreased by 9.36% year-on-year to 9.151 billion yuan, with sales pressure attributed to increased competition and a deliberate reduction in milk powder channel inventory [3]. - The revenue breakdown shows that ultra-high-end, high-end, regular, and adult milk powder segments generated revenues of 6.19 billion, 1.69 billion, 330 million, and 290 million yuan, respectively, with declines of 13%, 14%, 3% growth, and 4% decline year-on-year [3]. Market Dynamics - The infant formula market is experiencing intensified competition, with leading brands like Yili, Nutricia, and FrieslandCampina expanding, while mid-tier brands like a2 are also showing strong growth potential [3][7]. - Feihe has maintained its position as the top seller in the infant formula market for six consecutive years, but the growth momentum in the market appears weak, with a projected decline in newborn numbers due to a significant drop in marriage registrations [4][5]. Membership and Tools - Feihe's "Star Mom Club" membership has surpassed 85 million, and the company plans to offer a free developmental self-assessment tool tailored to Chinese babies through this platform [2].

Core Points - Huawei officially launched the new HarmonyOS 6 on the 22nd, initiating large-scale public testing for over 90 device models [1] - HarmonyOS has developed into one of the top three mobile operating systems globally, showcasing its growth and market presence [1] Group 1: System Features - The HarmonyOS 6 features optimizations in architecture and system characteristics, enhancing overall performance [1] - Over 80 HarmonyOS application agents have been launched, covering various scenarios such as education, healthcare, and lifestyle services [1] Group 2: Unique Functionalities - The "Super Assistant" in HarmonyOS 6 will support 16 dialects, improving accessibility and user interaction [1] - More than 60 applications will support the "Tap to Transfer" feature, breaking down device barriers and enabling near-field transfer with Apple devices for the first time [1]