事实上，上交所数据显示，科创人工智能ETF华宝（589520）近10个交易日中，有7个交易日获资金净 流入，累计金额1012万元。 成份股方面，乐鑫科技涨近6%，安路科技、虹软科技、奥普特、航天宏图、萤石网络等个股收红。 或由于英伟达市值突破4万亿美元，点燃AI投资热潮，今日（7月10日）重点布局国产AI产业链的科创 人工智能ETF华宝（589520）场内价格收跌0.47%，但频现宽幅溢价区间，显示买盘资金更为强势！全 天成交额近2000万元，较前一日环比激增133%，伴随成交放量，或有资金逢跌介入！ 2、技术突破驱动产业升级，国产化进程加速 国产大模型（如ChatGLM4、百度文心一言4.0、讯飞星火）已接近GPT-4性能，中文场景表现优异，成 本大幅下降，部分模型免费开放，降低应用门槛。多模态大模型（如华为盘古5.0）加速工业设计、医 疗研发等场景落地，缩短研发周期（如汽车造型设计从1-2年缩至数月）。端侧方面，AI手机、AI眼 镜、AIPC等硬件快速普及，高通、小米等厂商推动端侧AI生态成熟。 3、应用场景爆发，商业化进程加速 B端，行业赋能深化。工业领域，AI+CAD、智能控制、机器视觉优化生产流程， ...

7月10日，第一财经记者从2025世界人工智能大会（WAIC）暨人工智能全球治理高级别会议新闻发布会上获悉，本届大会将于7月 26-28日在上海举办，以"智能时代 同球共济"为主题，人工智能全球治理问题被提升至更为突出的地位。 在人工智能治理问题上，如何引领全球人工智能治理走向普惠、向善、可靠，中国将提供重要方案。今年的WAIC大会将聚焦当前全 球数据治理问题，进一步确保全球南方国家在人工智能发展上的机会、权利和规则平等，缩小"数字鸿沟"。 工业和信息化部科技司副司长杜广达表示，在今年的WAIC大会上，中国将联合相关机构发布《国际人工智能开源合作倡议》。 中国已跨入全球人工智能领域领先赛道。世界知识产权组织数据显示，2014年至2023年，全球累计有5.4万项生成式人工智能专利申 请，其中中国申请了3.8万项，占比70%。 中国已跨入全球人工智能领域领先赛道，形成较为完整的人工智能产业体系，正积极致力于为世界各国提供更多人工智能公共产 品。 在参展商中，西门子、施耐德等工业领域的巨头将展示新品，聚焦"AI+制造"，例如西门子将在国内首秀"Industry Copilot"工业AI助 手。此外，包括特斯拉、宇树 ...

芯声澎湃，精彩纷呈 [Table_ReportType] ——2025 年中期电子行业投资策略报告[Table_ReportDate] [行业核心观点： Table_Summary] 2025 年以来申万电子行业跑赢沪深 300 指数，估值略高于近年中枢。 SW 电子 2025 年 Q1 业绩向好，营收、归母净利润均创下近三年 Q1 新 高。展望 2025 年下半年，建议把握半导体自主可控、AI 算力建设和终 端创新的投资机遇。半导体自主可控方面，中美科技摩擦加剧，倒逼半 导体国产替代进程加速，建议关注先进制程半导体产业链突破带来的投 资机遇。AI 算力建设方面，AI 算力建设进入军备竞赛，AI 芯片、先进 封装、存储芯片及 PCB 等赛道系算力底座的关键环节。AI 终端创新方 面，随着 AI 浪潮持续推进，端侧硬件底座夯实、应用生态完善，AI 手 机、AIPC 有望加速渗透，同时 AI 应用多点开花，用户规模加速增长， 有望带来较大市场增量。 投资要点： ⚫ 半导体自主可控：中美科技摩擦加剧，倒逼国产替代进程加速。中国大 陆系全球最大半导体设备市场，晶圆厂扩建有望提振半导体设备行业需 求，先进制程增长动能更 ...

Core Viewpoint - Longqi Technology has submitted an application for H-share listing on the Hong Kong Stock Exchange, highlighting its position as a leading global provider of smart products and services, particularly in the ODM sector for consumer electronics and smartphones [2][3]. Group 1: Company Overview - Longqi Technology was established in 2004 and has developed a diverse product portfolio including smartphones, AIPC, automotive electronics, tablets, smartwatches, and smart glasses [3]. - The company has a strong client base, including major brands like Xiaomi, Samsung, Lenovo, Honor, OPPO, and vivo, supported by a professional team of approximately 4,000 R&D and engineering personnel [3]. - Longqi Technology has created a comprehensive smart product ecosystem compatible with popular platforms such as Android and Windows, structured around a "1+2+X" framework [3]. Group 2: Financial Performance - In 2024, Longqi Technology's smartphone revenue reached RMB 36,132.7 million, accounting for approximately 77.9% of total annual revenue [4]. - The company achieved a smartphone ODM shipment volume of 172.9 million units in 2024, ranking first globally in this category [4]. - The tablet computer business generated revenue of RMB 3,696.3 million in 2024, representing about 8% of total revenue, with ODM shipments of 12.3 million units [5]. - Longqi Technology's AIoT business saw significant growth, with revenue reaching RMB 5,573.1 million in 2024, a 122.0% increase from 2023, contributing approximately 12.0% to total revenue [5]. Group 3: Strategic Initiatives - Longqi Technology is strategically investing in new business areas such as AIPC and automotive electronics, having launched its first laptop featuring a Qualcomm Snapdragon processor in Q3 2024 [6]. - The company has established partnerships with multiple OEMs and tier-one clients in the automotive electronics sector, actively expanding into overseas markets [6].

Core Insights - Thunderobot has been recognized as the only brand in the "eSports all-scenario equipment" category in the 2025 "China's 500 Most Valuable Brands" report, with a brand value of 21.839 billion yuan, marking a 111.60% increase over five years, setting a new record [1] - The company has achieved five consecutive increases in brand value during a period of global economic adjustment, successfully transitioning from a brand value of 10 billion to over 20 billion yuan, solidifying its image as a new domestic brand in eSports equipment [1] Group 1: Innovation and AI Integration - Thunderobot has outlined a growth path focused on the integration of AI technology and high-performance hardware, creating an ecosystem that includes "AIPC + AI smart glasses + Thunderobot AI smart body" [2] - The development of the Thunderobot AI smart body reflects the company's AI strategy, with collaborations with Alibaba Cloud and DeepSeek to enhance AI capabilities and provide personalized services [2][4] - The AI-driven products, such as the Thunderobot ZERO 18 Pro and Aura AI smart glasses, have become market hits, showcasing the company's competitive edge in the eSports equipment sector [4] Group 2: Market Expansion and Revenue Growth - The growth in brand value is attributed not only to AI but also to Thunderobot's unique position as a leading brand in the eSports equipment industry and its successful penetration into overseas markets [5] - The company has shifted from merely selling devices to offering comprehensive eSports experiences, resulting in a compound annual growth rate of 47.32% for peripheral products from 2019 to 2023 [5][6] - Thunderobot's overseas business has become a significant growth engine, with revenue from international operations increasing from 107 million yuan in 2021 to 1.15 billion yuan in 2024, reflecting a compound annual growth rate of 120.7% [8]

Core Insights - The integration of generative AI with consumer hardware is driving strong demand for edge AI chips, with companies like TaiLing Micro announcing successful product launches and significant revenue growth in Q2 2023 [1][2] - The AI hardware market is expanding rapidly, with various manufacturers actively developing AI-enabled devices across multiple categories, including smartphones, wearables, and personal computers [2][3] Group 1: Market Trends - The demand for edge AI chips is being fueled by the shift from centralized cloud computing to edge and on-device intelligence, driven by privacy concerns and the need for real-time data processing [1] - During the 618 shopping festival, sales of AI-enabled products saw remarkable growth, with AI smartphones' transaction value increasing by 100% and AI audio products' user transactions growing by over 300% [1] Group 2: Company Developments - TaiLing Micro reported that its new edge AI chip will be in mass production soon, with applications in wireless audio, smart homes, and wearables, contributing to a revenue of over 10 million yuan in Q2 2023 [1] - Hengxuan Technology's new wearable chip, BES2800, achieved mass production and is expected to generate 32% of its 2024 revenue from smartwatch and wristband products, with a year-on-year revenue growth of approximately 116% [5][6] Group 3: Future Projections - Canalys predicts that by 2025, the global penetration rate of AI smartphones will reach 34%, indicating a significant market opportunity for manufacturers [2] - The AI personal computer (AIPC) segment is expected to grow as major companies like Apple and Huawei invest in local AI model execution, enhancing customization and security [2][3]

Group 1: Event Overview - The 2025 World Mobile Communication Conference (MWC25 Shanghai) is showcasing the strong momentum of technological innovation in China and the Asia-Pacific region, focusing on themes such as AI+, industry interconnectivity, and 5G integration [1][2] - GSMA CEO emphasized that the next phase of mobile communication will be defined by 5G-Advanced (5G-A), independent networking, and AI, providing Chinese companies with broader development opportunities [1][2] Group 2: 5G and AI Integration - China is leading the global market in 5G-A technology, with projections indicating that by 2025, over 95% of the population will be covered by 5G networks, contributing $2 trillion to the economy [2] - Huawei and major telecom operators launched 5G-A experience innovations, with a goal for 95% of vehicles to be connected by 5G by 2030, seizing opportunities in the smart connected vehicle market [2][3] Group 3: AI Applications - AI models showcased at the conference include applications in flood management and chemical safety, enhancing disaster monitoring and operational efficiency [3][4] - Lenovo demonstrated advanced AI capabilities with intelligent systems that can create and act, showcasing the potential of multimodal AI models [4] Group 4: Innovative Transportation Solutions - The conference introduced a new GSMA innovation area featuring various innovative transportation systems, including eVTOL aircraft for logistics and emergency services [5][6] - Companies like Peak Aviation Technology and Chang'an Automobile presented advanced aerial vehicles capable of vertical takeoff and landing, targeting applications in firefighting and recreation [6] Group 5: Communication Technology Advancements - Companies are developing integrated solutions combining 5G-A technology with robotics and marine communication systems, enhancing connectivity across various domains [7] - The integration of satellite communication and terrestrial networks is seen as crucial for bridging digital divides, with companies like Guangdong Tongyu Communications focusing on comprehensive coverage [8] Group 6: Global Impact and Future Prospects - MWC25 Shanghai is positioned as a key platform for transforming local innovations into international standards, facilitating the global expansion of China's digital economy [9]

格隆汇6月18日｜中国央行宣布8项重磅金融开放举措，A股主要指数今日小幅上涨，截至收盘，沪指涨 0.04%报3388点，深证成指涨0.24%，创业板指涨0.23%。全天成交1.22万亿元，较前一交易日缩量154亿 元，全市场近3500股下跌。 | 上证指数 深证成指 | 北证50 | | --- | --- | | 3388.81 10175.59 1393.44 | | | +1.40 +0.04% +24.16 +0.24% -9.11 -0.65% | | | 科创50 创业板指 万得全A | | | 968.18 2054.73 | 5165.22 | | +5.10 +0.53% +4.79 +0.23% +0.14 0.00% | | | 沪深300 中证500 中证A500 | | | 3874.97 5745.87 4540.41 | | | +4.59 +0.12% -5.04 -0.09% +3.23 +0.07% | | | 中证1000 中证2000 中证红利 | | | 6135.39 2598.69 | 5419.95 | | -6.08 -0.10% -7.29 -0.28% - ...

Group 1 - The commercialization of edge AI applications is accelerating, with rapid increases in penetration rates for AI smartphones and AIPC, as well as AI upgrades in smart cars, robots, wearables (XR, AI glasses, headphones), and smart homes [1] - The demand for computing power is growing rapidly due to the fast iteration of AI, leading to increased needs for advanced processes, advanced packaging, and advanced storage, prompting manufacturers to expand production [1][2] - By 2025, two major themes to focus on are AI computing power and domestic semiconductor substitution [1] Group 2 - The significant reduction in computing costs is catalyzing the demand for inference, with edge AI expected to experience explosive growth [2] - The release of Deepseek's R1, which rivals OpenAI's o1, has demonstrated substantial cost reductions, providing a foundation for breakthroughs in inference applications [2] - The demand for AI hardware is expanding, with the release of Nvidia's GB200 and self-developed ASICs by CSPs, and the next-generation GB300 set to enter mass production [2] Group 3 - Edge AI is beginning to accelerate, with terminal shipments expected to see explosive growth [3] - The advantages of edge AI in terms of cost, energy consumption, reliability, privacy, security, and personalization are now established, leading to a new wave of innovation in terminal devices [3] - The AI penetration rates for smartphones and PCs are projected to reach 18% and 32% respectively by 2024, with continuous upgrades in hardware [3] Group 4 - The current semiconductor cycle is primarily driven by AI demand, with significant growth in infrastructure needs for computing power due to the evolution of large models [4] - The AI transition to edge devices is rapidly advancing, benefiting upstream hardware sectors such as GPU/SoC, storage, PCB, and manufacturing [4] - Domestic semiconductor production faces challenges in high-end capacity, with a need for breakthroughs in advanced manufacturing and packaging technologies [4]

Core Insights - AI technology is rapidly reshaping the global economic landscape and production paradigms, becoming a key strategic tool for countries to secure technological supremacy and national security [1] - The smart terminal industry is undergoing a comprehensive transformation driven by AI, leading to the emergence of new product categories and a reconfiguration of the global competitive landscape [1] Policy Support - The Chinese government has established a comprehensive support framework for domestic smart terminal manufacturers through policies like the "New Generation Artificial Intelligence Development Plan," facilitating the integration of AI technology with the real economy [2] - Over 20 policy documents have been issued by various government departments, covering financial support, application demonstrations, talent cultivation, and governance systems, significantly boosting industry confidence [2] Market Opportunities - Volcano Engine, as an AI cloud service provider, has capitalized on market opportunities by integrating resources and providing robust AI support to major smart terminal manufacturers, achieving breakthroughs in various AI application scenarios [3] - The company has collaborated with numerous smart terminal manufacturers to innovate over 50 AI application scenarios, covering more than 400 million smart terminal devices, with 9 out of the top 10 global smartphone manufacturers partnering with Volcano Engine [3] AI Assistant Development - Volcano Engine has launched advanced AI models, significantly enhancing the capabilities of AI assistants in smartphones, with daily token usage exceeding 16.4 trillion, a 137-fold increase from the previous year [6] - The integration of AI models into smart terminal products has led to improved user experiences, with features like real-time responses and enhanced interaction capabilities [7] Data Privacy and Security - As AI technology becomes more prevalent, user data security has emerged as a critical concern, prompting smart terminal manufacturers to ensure user control over data usage [8] - Collaborations, such as with Lenovo, have established new benchmarks in data security and privacy protection, ensuring a secure environment for AI operations [8] Future Prospects - The rapid development of AI capabilities in domestic smart terminals is expected to reshape the competitive landscape in both domestic and global markets, with AI smartphone penetration projected to reach 34% by 2025 [11] - Domestic manufacturers are increasingly recognized in international markets, with the potential for greater market share as technology and ecosystems continue to evolve [11] Ecosystem Collaboration - To address intense international competition, building a complete AI industry ecosystem is essential for driving high-quality development in China's technology sector [12] - Volcano Engine aims to foster an open and collaborative system by deepening partnerships with smart terminal manufacturers, promoting a new industrial civilization characterized by "technological symbiosis and value sharing" [12]