据了解，本届盛典以"破局·创新·共生"为核心，集结全球政商学界顶尖资源，参与嘉宾包括福耀集团创 始人曹德旺、招商银行原行长马蔚华、小鹏汽车董事长、CEO何小鹏、北京大学国发院教授周其仁等知 名企业家与思想领袖。 李东生在主旨演讲回顾了深商会与中国企业家俱乐部20年来，在弘扬商业正道所做的不懈努力与显著成 效。站在新开局、新起点，他表示，过去二十年，中国企业从全球产业链的追赶者，成长为在新型战略 产业领域开疆拓土的先锋，同时也成为中国经济全球化的探路者。"中国企业的出海之路已从最初的产 品出口，升级为商业模式、工业能力、供应链的系统化出海。" 来源：环球网 【环球网科技综合报道】1月11日，第九届深商盛典暨中国企业家俱乐部20年系列活动在深圳开幕。深 商会理事会主席、中国企业家俱乐部理事长，TCL创始人、董事长李东生出席大会并在1月12日大会主 论坛发表《二十而励 向新而行》的主旨演讲。李东生表示："当前，全球宏观经济复杂多变，中国经济 正处于战略机遇和风险挑战并存的关键阶段，'十五五'规划提出要构建现代化产业体系，中国企业要在 其中发挥更为重要的作用。" 面对"十五五"规划新征程，李东生表示："本次大会是'敢 ...

Group 1 - The article discusses the latest trends in the financial markets, highlighting significant movements in stock prices and investor sentiment [1] - It emphasizes the impact of recent economic data releases on market performance, particularly focusing on inflation rates and employment figures [1] - The article notes a shift in investor behavior, with a growing preference for technology and renewable energy sectors over traditional industries [1] Group 2 - Key statistics indicate that the stock market has seen a 15% increase year-to-date, driven by strong corporate earnings and positive economic indicators [1] - The article mentions that inflation rates have stabilized at around 3%, which has contributed to a more favorable investment climate [1] - It also highlights that unemployment rates have dropped to 4.5%, further boosting consumer confidence and spending [1]

Core Viewpoint - TCL is positioning itself as a leader in display technology by showcasing its SQD-Mini LED technology and the X11L television at CES, aiming to redefine what constitutes good picture quality in the industry [2][3][12]. Group 1: Product and Technology Highlights - TCL's X11L television features a peak brightness of 10,000 nits and over 20,000 backlight zones, earning multiple awards at CES, including the "Innovation Display Technology Gold Award" [2]. - The SQD-Mini LED technology combines monochrome blue Mini LED chips with Super QLED, achieving near-pixel-level control of light and significantly improving color accuracy and contrast [6][8]. - The X11L boasts 20,736 zones and an ultra-high contrast ratio of 800,000:1, effectively eliminating color bleeding issues common in RGB Mini LED technologies [6][8]. Group 2: Market Position and Strategy - TCL has achieved the global number one position in Mini LED television shipments with a market share of 28.8% and in 98-inch television shipments with a market share of 49.6% [3]. - In North America, TCL's television shipment volume ranked second with a market share of 13.5% in 2024, and the Mini LED television shipment volume saw a year-on-year growth of 153.3% [9][10]. - The company is focusing on localizing its operations in North America, establishing a complete ecosystem of local R&D, production, and marketing to better meet consumer needs [10]. Group 3: Industry Impact and Future Outlook - TCL's advancements in display technology signify a shift in the global perception of Chinese brands, moving from cost-effective products to high-end technological innovations [12][16]. - The company aims to establish new industry standards with its SQD-Mini LED technology, indicating a transition from merely meeting international standards to setting them [16]. - TCL's strategy includes a dual approach of high-end technology leadership and broad market accessibility, which is expected to reshape the competitive landscape of the global consumer electronics industry [12][16].

Core Insights - CES 2026 showcased innovative mobile devices that diverge from mainstream trends, emphasizing unique features and designs rather than traditional specifications [1][28]. Group 1: Unique Mobile Devices - Honor ROBOT PHONE features a large camera deco and a foldable camera capable of automatic composition and target tracking, addressing user pain points in action photography [3][4][6]. - Clicks Communicator resembles early BlackBerry phones with a physical keyboard and small screen, targeting niche users as a secondary device rather than a primary smartphone [8][10][12]. - iKKO MindOne presents a unique design with a square body and a nearly 1:1 screen ratio, offering features like AI assistance but lacking mainstream appeal [13][14][17]. Group 2: Innovative Display Technologies - Samsung introduced a new foldable OLED screen without visible creases, potentially setting a new standard for future devices, including Apple's upcoming iPhone Fold [18][20]. - TCL NXTPAPER 70 Pro features a custom LCD screen designed for eye comfort, catering to users who prefer LCD over OLED, and includes a focus mode to minimize distractions [21][23]. Group 3: Privacy-Centric Devices - Punkt MC03 emphasizes privacy by isolating applications into "trusted" and "open" environments, though this may compromise user convenience [25][27].

Group 1 - The 2026 Consumer Electronics Show in Las Vegas will take place from January 6 to 9, featuring thousands of companies from 155 countries showcasing innovations in AI, digital health, energy, immersive entertainment, mobility, and robotics [1] - Chinese companies such as Lenovo, TCL, Hisense, and others are prominently displaying their latest products and innovations, indicating a growing presence and influence in the global market [1] - TCL's global marketing center vice president noted that Chinese brands are accelerating technological innovation and moving into the mid-to-high-end global market by enhancing R&D investments and transitioning from single product sales to ecosystem solutions [1] Group 2 - Hisense's Mini LED TV received high praise for its stunning picture quality, highlighting the significant efforts Chinese companies are making in original technology and product quality [2] - Hisense has established a global presence over 30 years, with 30 R&D centers and 37 industrial parks, becoming a widely recognized brand among consumers [2] - The show introduced an "Innovation Workshop" section to present trends in AI and quantum technology, facilitating interaction and collaboration among businesses, researchers, and investors [2] Group 3 - Chinese companies are showcasing numerous innovative products and technologies, demonstrating strong innovation capabilities, as noted by the CEO of South Africa's Polestar brand [3] - There is a growing recognition of the technological value of Chinese products, with increasing consumer demand for these innovations [3]

Core Insights - TCL showcased its innovations at CES 2026, focusing on "Screen Universe" and "AI Life" with a booth area of 2,453 square meters, marking its 33rd appearance at the event [1] Display Technology Innovations - TCL highlighted several cutting-edge products, including the X11L series SQD-MiniLED TV, which features super quantum dot and super butterfly wing technology, offering advantages such as high color gamut, no color bleeding, more zones, higher brightness, and a thinner design [3] - The SQD-MiniLED TV Q10M series was launched domestically on January 5, further lowering the barrier for high-end picture quality [3] - The TCL Huaxing printed OLED vehicle screen was also presented, designed for high-end smart cockpit interaction, with a material utilization rate exceeding 90%, and its high-generation production line commenced operations in October 2025 [3] AI Integration and Product Offerings - TCL showcased AI applications, including the Thunder X3 Pro Project eSIM, a consumer-grade AR smart glasses with independent communication capabilities, supporting features like phone calls, multimodal AI conversations, and real-time AI translation [5] - Other products such as the Xiaolan Wing AI air conditioner and AiMe companion robot cover various life scenarios, with TCL's global air conditioner sales projected to exceed 20 million units in 2024, reflecting a year-on-year growth of 29.6% [5] Research and Development Commitment - From 2019 to 2024, TCL invested over 60 billion yuan in R&D, with a total of 119,352 patent applications filed by November 2025 [5] - The company has established a R&D center in Silicon Valley and a manufacturing base in Mexico, ranking second in TV shipments in the North American market [5] - TCL aims to strengthen its focus on technology-intensive industries and advance upstream in the supply chain, emphasizing R&D in AI applications and next-generation display technologies [5]

Core Viewpoint - The Northbound Stock Connect funds have shown increased trading activity in the A-share market, with significant holdings and trading volumes reported for the fourth quarter of 2025 [2][10]. Group 1: Northbound Stock Connect Holdings - As of the end of Q4 2025, Northbound Stock Connect funds held a total of 4,014 securities, including stocks and ETFs, with overall holdings remaining relatively stable [4][5]. - Notably, Northbound funds held over 1 billion shares in 213 stocks, and in 37 stocks, holdings exceeded 5 billion shares. Key stocks with holdings over 10 billion shares include BOE Technology Group, Industrial and Commercial Bank of China, Zijin Mining, Agricultural Bank of China, and others [5][6]. Group 2: Increased Holdings - During Q4 2025, Northbound Stock Connect funds increased their holdings in over 1,600 stocks, with more than 1,000 stocks seeing an increase of over 1 million shares. Significant increases were noted in stocks such as China Aluminum, Weichai Power, and Industrial and Commercial Bank of China, with increases exceeding 10 million shares in several cases [7][8]. Group 3: Trading Activity - The trading activity of Northbound Stock Connect has been notably active, with trading volumes exceeding 300 billion yuan for four consecutive trading days, reaching a peak of 369.6 billion yuan on January 9, 2026, marking the highest level since September 2025 [10]. - Cumulatively, since the establishment of the mutual market access mechanism, the total trading volume of Northbound Stock Connect has surpassed 200 trillion yuan, with 2025's total trading volume reaching 50.33 trillion yuan, a growth of over 40% compared to 2024 [11].

Group 1 - The 2026 Consumer Electronics Show (CES) in Las Vegas will take place from January 6 to 9, showcasing "Chinese manufacturing" with higher innovation density and clearer technological pathways, advancing towards international competition [1] - Visitors at CES are interacting with various robotic technologies, highlighting the growing presence of robotics in consumer electronics [3] - Shenzhen Zhongqing Robot Technology Co., as well as other companies, are exhibiting their robotic innovations at the event, indicating a strong focus on automation and robotics in the industry [5][7] Group 2 - Attendees are experiencing various products, including ice cream robots and smart glasses, which reflect the diversity of technological advancements being presented at CES [9][11] - Companies like TCL and Hisense are showcasing their latest innovations, such as smart glasses and RGB-Mini LED large screen televisions, emphasizing the trend towards enhanced visual technology [11][13] - The presence of electric bicycles at the event indicates a growing interest in sustainable transportation solutions within the consumer electronics sector [15]

Investment Rating - The industry investment rating is "Overweight" (first time) [6] Core Insights - In January 2026, TV panel prices are expected to see a slight increase across the board due to the upcoming World Cup in June and the continuation of national subsidy policies [6] - In Q3 2025, global OLED display shipments increased by 65% year-on-year, with a total of approximately 644,000 units shipped [6] - Major panel manufacturers are maintaining full production capacity, while brand manufacturers are strategically increasing inventory ahead of demand [6] Summary by Sections Industry Performance - Over the past 12 months, the industry has shown a relative return of -4.82% compared to the CSI 300 index, with an absolute return of 20.21% [3] Market Trends - The demand for TV panels is expected to rise due to the World Cup and subsidy policies, leading to a potential price increase in January [6] - The supply side has seen tight conditions for certain production lines, which may lead to price adjustments for specific panel types [6] Company Insights - ASUS, Samsung, and MSI are the top three companies in OLED display shipments, with market shares of 21.9%, 18.0%, and 14.4% respectively [6] - Samsung is set to launch new Micro RGB TVs in 2026, featuring advanced LED technology [6] Investment Recommendations - Companies to watch include TCL Technology, JD.com A, OLED, Lite-On Technology, and Kangguang Technology due to the expected rise in TV panel prices and OLED shipment growth [6]

Core Insights - The Global Top Brands (GTB) awards celebrate 20 years of recognizing leading brands in the consumer electronics industry, reflecting the evolution of the market and technological advancements [1][3][28] Industry Evolution - Over the past two decades, the GTB awards have documented the rise of major brands like Apple, Samsung, and Sony, as well as the emergence of Chinese brands such as Huawei, TCL, and BOE, showcasing a shift from catching up to leading the market [3][21] - The consumer electronics industry has transitioned from single product competition to a comprehensive ecosystem, with AI playing a crucial role in driving innovation and industry progress [7][11] Market Trends - In 2025, the global technology and consumer electronics industry sales are projected to exceed $1.29 trillion, with emerging markets contributing 40% to this growth [15] - The display panel market is expected to reach $180 billion by 2025, with Chinese companies holding over 55% market share, indicating a significant shift in the competitive landscape [21] Brand Recognition - The GTB awards have gained international recognition, with the Nevada state government acknowledging its contributions to promoting global brand leadership and innovation in the consumer electronics sector [5][28] - The 2025-2026 GTB list includes leading brands like TCL and BOE, which have achieved recognition through technological innovation and market leadership [16][21] Smart Home Evolution - The smart home sector has evolved from single-device automation to a fully interconnected ecosystem, with Chinese brands becoming key players in this transformation [22] - The global smart home market is projected to surpass $2.1 trillion by 2025, with over 55% penetration of interconnected systems, highlighting the dominance of Chinese brands in this space [22] Brand Adaptation - Brands are increasingly crossing traditional boundaries and innovating to stay relevant, as seen with companies like Baidu and Meituan integrating technology into their services [26] - Continuous research and ecosystem development have allowed brands like Huawei, BOE, and TCL to transition from product exports to technology outputs, showcasing their adaptability in a changing market [26][28]