Investment Rating - The report maintains a positive investment rating for the electronic industry, particularly highlighting companies like Guokewi and Xinhai Technology as key players to watch [5][6][8]. Core Insights - The Harmony ecosystem is rapidly expanding, with over 27 million devices equipped with HarmonyOS 5 and 6, and more than 1 million registered developers [2][4]. - The launch of the HUAWEI FreeBuds Pro 5, which supports the Star Flash audio technology, marks a significant step towards mainstream adoption of this technology [4]. - The Harmony ecosystem has seen a substantial increase in applications, with over 300,000 applications and a compatibility rate exceeding 95%, indicating a mature software ecosystem [2][3]. Summary by Sections Industry Overview - The Harmony ecosystem is transitioning from breakthrough to maturity, with significant hardware and software updates showcased in recent product launches like the Huawei Mate 80 series and Mate X7 [2]. - The ecosystem's growth is supported by over 9,000 applications participating in system-level innovations, enhancing usability and user experience [2][3]. Key Companies - Guokewi has achieved significant milestones in chip development, with eight open-source Harmony chip platforms now in mass production across various sectors [3]. - Xinhai Technology is contributing to the Harmony ecosystem by integrating chips, algorithms, and systems to enhance smart home devices [3]. Financial Projections - Guokewi's earnings per share (EPS) are projected to grow from 0.64 CNY in 2025 to 1.34 CNY in 2027, with a price-to-earnings (PE) ratio decreasing from 161 to 76 over the same period [5]. - Xinhai Technology's EPS is expected to rise from 0.01 CNY in 2025 to 0.73 CNY in 2027, with a significant reduction in PE from 4297 to 47 [5]. Investment Recommendations - The report suggests focusing on companies such as Guokewi, Xinhai Technology, Chuangyao Technology, and Lexin Technology due to their potential in the evolving Harmony ecosystem and audio technology [8].

悦彰星环设计佩戴稳固舒适 11月25日，在华为Mate80系列| Mate X7及全场景新品发布会上，华为正式推出业界首款支持星闪音频 (星闪E2.0)技术的无线耳机——HUAWEI FreeBuds Pro5。耳机不仅为用户带来母带级无损音质体验，降 噪性能也显著提升，还新增听力检测与助听研究、AI录音转写等创新功能，在音乐、通话、办公、听 力健康等多场景带来全新体验，打造TWS耳机新标杆。 AI录音转写高效生产力工具 HUAWEI FreeBuds Pro5携手中央音乐学院声学团队深度联合调校，将专业声学造诣与消费级音频需求 完美融合，打造悦彰均衡、悦彰人声、悦彰古典、悦彰低音四大音效，为不同场景、不同偏好的用户带 来沉浸式听觉盛宴。 双擎AI感知降噪入耳即静 不局限于单纯减弱噪音，HUAWEI FreeBuds Pro5的降噪体验再次升级，首次采用了双单元双路主动降 噪架构，高低音两颗声学单元协同工作，共同针对噪声发出反向声波降噪。耳机搭载全新MIMO AI感 知模型，主动感知环境噪音变化，实时匹配最佳的降噪参数，较上代产品降噪效果提升最高220%，无 论是健身房、办公室，还是地铁、飞机等嘈杂环境，用户 ...

在健康功能方面，FreeBuds Pro 5支持耳内外音量监测、听力检测与助听研究功能（需配合华为创新研究APP及HarmonyOS 6以上设备）。用户可通过耳机实 时监测环境噪音与佩戴时的音量水平，避免听力损伤；居家即可完成听力检测，结果可为轻中度听损用户提供听力补偿参考，实现从预防到辅助的全链路听 【环球网科技综合报道】11月25日，华为在Mate 80系列及全场景新品发布会上推出新一代TWS耳机HUAWEI FreeBuds Pro 5。作为业界首款支持星闪™音频 （星闪E2.0）技术的无线耳机，该产品通过硬件架构与软件算法的协同升级，在音质、降噪、健康监测及办公体验等多维度实现突破，推动TWS耳机音质进 入母带级无损时代。 在音质表现上，FreeBuds Pro 5首次应用星闪™音频技术，搭配华为自研第三代音频芯片与L2HC5.0编解码协议，实现4.6Mbps传输速率，支持96kHz/24bit母 带级无损音源传输。结合高、低频分离的双路独立驱动声学系统，耳机可呈现更丰富的声音细节——高音通透、低音澎湃，层次分明。为满足不同用户的听 音偏好，产品还与中央音乐学院声学团队联合调校，推出悦彰均衡、悦彰人声 ...