Investment Rating - The report does not explicitly state an investment rating for the industry or specific company Core Insights - Huawei's Mate XTs features a tri-fold design and aims to position itself as a mobile creation tool that can partially replace ultra-thin laptops and tablets, enhancing multitasking efficiency and user experience [2][8] - The integration of HarmonyOS and NearLink technologies creates a high ecosystem barrier, making it difficult for competitors to replicate Huawei's seamless cross-device connectivity and low-latency interaction [3][9] - Huawei's strategy focuses on high-end flagship products to set technological benchmarks while driving volume through mid-to-high-end devices, with expectations of technology cascading down to enhance competitiveness [4][10] Summary by Sections Event Overview - On September 4, Huawei launched the Mate XTs and other flagship products, reinforcing its ecosystem centered on HarmonyOS and all-scenario integration, with the Mate XTs starting at RMB 17,999 and featuring a 10.2-inch flexible OLED display [1][7] Product Innovation - The tri-fold design of the Mate XTs introduces higher demands on hinge precision and battery life, while providing a near-10-inch tablet experience, potentially resetting the value benchmark for high-end foldables [2][8] Ecosystem Development - Huawei's product matrix leverages seamless connectivity and low-latency interactions, enhancing user collaboration and creating a high barrier for competitors [3][9] Business Strategy - Huawei adopts a strategy of "high-end sets the bar, mid-to-high end drives volume," with flagship products serving as technology beacons while mass-market devices remain the core of market share and profit [4][10]