新华社记者刘梓漪、刘铭翔 宇树科技的机器人伴随动感音乐跳街舞，云深处的机器狗原地后空翻稳稳落地，浙江人形机器人创新中 心的机器人化身指挥家……在刚刚闭幕的第四届全球数字贸易博览会上，印度尼西亚拉贾瓦里电视台的 新闻记者奥利维娅·费拉里边用手机记录边赞叹："中国的人工智能和机器人太多样、太不可思议了！" 9月23日至29日，来自马来西亚、印度尼西亚、老挝、越南、缅甸等东盟国家的智库学者、媒体记者参 访团，走进浙江杭州、金华、湖州等城市，沉浸式感受科技助力发展的生动实践。 "这款吹风机多少钱？""拿货价格是48元人民币。"在义乌国际商贸城，奥利维娅借助AI翻译设备，用印 尼语与中国老板李军无碍沟通，顺利完成购物。她说："AI翻译机很有意思，不同国家的人都能用母语 顺利购物。" 能拍照录视频的AI眼镜、带实时翻译功能的AI耳机、可实时答疑解惑的AI手表……义乌国际商贸城内 还有很多科技产品。李军说，AI技术已深度融入日常销售，不仅可用于与外国顾客的交流，还可提供 有效的销售策略。 9月25日，在第四届全球数字贸易博览会上，印度尼西亚拉贾瓦里电视台的新闻记者奥利维娅·费拉里为 电视台录制视频。新华社记者 刘梓漪 摄 ...

此次在杭州大会展中心探馆，记者看到了很多尖端技术和硬核产品，譬如，打拳击的机器人、会提词的AI眼镜，可以中医把脉的AI手表，刷新全球四足机 器人速度纪录的机器狗…… 杭州即将进入"数贸时间"！9月25日-29日，第四届全球数字贸易博览会将在杭州大会展中心盛大举行。 今天（9月24日）下午，证券时报记者来到杭州大会展中心探馆，有些参展商的展台已经布置完毕，静待中外客商参观。也有部分展台还在做最后的调试， 争取以最好面貌呈现在公众面前。 据悉，本届数贸会围绕"数字贸易商通全球"为主题，规模超前，15.5万平方米的展览面积，设置1个"未来科技竞技场"主展馆和人工智能、数字文娱、数智 出行等7个特色展区，1700多家展商参展。 （文章来源：证券时报网） 9月25日-29日，第四届全球数字贸易博览会将正式召开。届时，本报将会围绕此次展会，带来更为详细的相关报道。 ANT PROPERTY PREVIOUS EMET DIGITAL & SMART FUTURE TH 1 I IN 22 INDANCE IN 中国 · 杭州 LOBAL DIGHTA 易博览 WITAL & SMART FUTURE THEME EXHI ...

Core Viewpoint - The AI toy market is experiencing significant growth, with a reported sales increase of 600%, indicating a potential billion-dollar market opportunity for companies involved in this sector [1] Company Summary - The company, Yuntian Lifa, is developing its own AI-driven product, the Luka Doctor AI plush toy, which is designed to enhance children's companionship through digital interaction [1] - The Luka Doctor AI plush toy is expected to launch in the third quarter of 2025 and utilizes multimodal visual recognition technology to simulate real feeding scenarios, aiming to foster a sense of responsibility in children [1] - The company plans to leverage its IFMind large model reasoning capabilities to improve consumer electronics products, including AI headphones and AI smartwatches, as part of its AI-enabled product strategy [1]

Core Viewpoint - The smart watch industry is expected to open up growth opportunities driven by AI applications and demand for sports scenarios, despite some investor skepticism regarding future growth potential [1] Group 1: AI Integration in Smart Watches - AI applications are gradually being implemented in smart watches, enhancing user interaction through AI voice assistants and improving health and sports monitoring capabilities [2] - The demand for high-end smart watches is anticipated to grow as AI features become more prevalent, with shipments of smart watches equipped with advanced operating systems expected to reach 100 million units by 2027, reflecting a compound annual growth rate of 14% from 2024 to 2027 [2] Group 2: Demand for Sports Watches - The demand for sports watches is strong, with significant differentiation in functionality, particularly for outdoor activities and specialized health monitoring [3] - The average price of sports watches is notably higher, with global average prices around $514 in Q1 2024, compared to approximately $190 for the overall wearable wristband market, indicating a trend towards high-end products [3] - The performance of leading sports watch companies, such as Garmin, demonstrates the ongoing growth in the sports watch market [3]

Investment Rating - The report maintains a "Positive" investment rating for the electronic industry, specifically focusing on the smart watch sector [3]. Core Insights - The smart watch industry is expected to continue its growth trajectory, driven by AI applications and increasing demand for sports functionalities [6][11]. - AI integration and sports features are becoming key selling points for smart watches, enhancing user experience and driving market demand [12][28]. Summary by Sections 1. Smart Watch Industry Growth - The smart watch segment is witnessing a steady increase in shipment volumes, with a significant rise in the share of smart watches equipped with operating systems, now accounting for approximately 80% of the wearable market [16][17]. - The global wearable market is recovering, with a 13% year-on-year increase in shipments in Q1 2025, indicating a positive trend for smart watches [19][22]. 2. AI Functionality and High-End Market - AI features are enhancing user interaction and health monitoring capabilities in smart watches, with predictions that AI watch penetration will reach 15% by 2025 [35][43]. - The demand for high-end smart watches is expected to rise, with advanced operating systems projected to dominate the market, potentially reaching 100 million units shipped by 2027 [52][56]. 3. Sports Watch Demand - The sports watch segment is characterized by specialized features for outdoor activities, with a higher average selling price compared to general smart watches, indicating a trend towards premiumization in the market [70]. - Garmin, a leader in the sports watch market, has shown strong revenue growth, reflecting the ongoing demand for high-performance sports watches [66][68]. 4. Investment Recommendations - The report suggests focusing on terminal manufacturers such as Huami Technology, Xiaomi Group, and Transsion Holdings, as well as SoC manufacturers like Hengxuan Technology, which are expected to benefit from market growth [14][74].

Core Insights - The Chinese AI hardware market (excluding AI smartphones and AI vehicles) is projected to exceed 1 trillion yuan for the first time in 2023 and will continue to grow rapidly over the next five years [1][3][5] Market Growth and Projections - The market size for AI hardware in China is expected to reach 1,102 billion yuan by 2025, representing a 13.4% increase from 971.8 billion yuan in the previous year [5] - The compound annual growth rate (CAGR) for the domestic AI hardware market over the next five years is conservatively estimated at 18% [5] Market Drivers - Four key drivers are identified for the rapid development of the AI industry in China: 1. Policy support 2. Technological breakthroughs, such as the DeepSeek model being integrated with over 200 companies 3. Application scenarios and data support 4. Capital investment, with AI-related investment expected to reach 80 billion yuan in 2023, doubling from the previous year [3][5] Market Segmentation - In 2023, the AI consumer electronics hardware market is estimated to be approximately 461 billion yuan, while the public service AI hardware market is projected to be around 641 billion yuan [5] - The breakdown of the AI hardware market includes: - Smart wearables: 1,190 million yuan - Black electronics (including projectors): 1,180 million yuan - White goods: 760 million yuan - Home appliances: 480 million yuan - Kitchen appliances: 290 million yuan - Educational smart hardware: 340 million yuan - Smart home hardware: 370 million yuan [6] AI Penetration in Consumer Electronics - The penetration rates of AI in various consumer electronics are as follows: - 90% in robotic vacuum cleaners, air purifiers, and smart mattresses - Over 70% in AI televisions - Over 30% in kitchen appliances - 20% in refrigerators, washing machines, and air conditioners - 87% in projectors for smart voice interaction [7][8] Characteristics of AI and Smart Hardware Integration - The integration of AI with smart hardware exhibits several characteristics: 1. Intelligent interaction through voice and gesture recognition 2. Lightweight technology requiring low power consumption 3. Ecosystem-oriented scenarios emphasizing cross-device interaction 4. Market differentiation with high-end premium products alongside accessible AI solutions 5. The need for deep experience to appreciate AI enhancements in products [8]

Group 1 - The 2025 World Mobile Communication Conference held in Shanghai highlighted AI intelligent agents as a key focus, showcasing innovations in smart terminals, communication technologies, and urban governance [1][4] - AI smartphones can autonomously interpret information, such as identifying medication and setting reminders, demonstrating advanced user interaction capabilities [1][3] - The concept of intelligent agents extends beyond smartphones to various devices like AI glasses and watches, enhancing personal task management and spatial understanding [3][4] Group 2 - The Wi-Fi sensing integration project in Shanghai aims to automatically detect personnel status and optimize energy consumption, achieving a 15% reduction in air conditioning energy use through AI algorithms [4][6] - The integration of AI with communication networks is leading to the emergence of urban intelligent agents, which enhance city governance by enabling real-time data-driven decision-making [6][8] - The development of city super intelligent agents allows for more complex urban tasks, enhancing the capabilities of city management systems beyond mere data collection and visualization [8]

Core Insights - Wuxi is positioning itself as a benchmark city for "Artificial Intelligence+" by integrating AI into urban development and leveraging its manufacturing strengths [1][2][3] Policy Framework - In 2023, Wuxi proposed the "465" modern industrial cluster, prioritizing AI as the leading future industry, with a goal of integrating AI elements into a systematic strategy [2] - The "Wuxi City Artificial Intelligence Industry Innovation Development Three-Year Action Plan" aims to transition from tactical applications to strategic layouts, targeting over 300 AI enterprises with a revenue of 207.5 billion yuan by 2024 [2] Development Goals - By 2027, Wuxi aims to establish three benchmarks: high-quality development in the AI industry, high-value applications in AI scenarios, and efficient supply of AI elements [3] Ecosystem Development - Wuxi is enhancing its AI innovation capabilities by focusing on algorithms, data, and hardware support, aiming to create a robust AI development ecosystem [4] - The city is concentrating on key industries such as biomedicine and integrated circuits, promoting the development of industry-specific AI models and technologies [4] Hardware and Product Matrix - Wuxi plans to strengthen its supply of intelligent chips and sensors, focusing on three core directions: cloud inference chips, ultra-low power control chips, and brain-like chips [5] - The city aims to develop a range of smart wearable devices and consumer-grade intelligent terminals, fostering a comprehensive "ubiquitous intelligent terminal" industry ecosystem [5] Industry Growth Projections - By 2027, Wuxi is expected to gather over 500 AI enterprises, with an industry scale exceeding 300 billion yuan, supported by a solid policy framework and industrial foundation [6]