鸿海（富士康）和浙江吉利控股组成了合资公司，双方各持股50％，该合资公司为汽车制造商和出行服务提供商提供代工生产服务。在2020 年10 月首度举办的鸿海科技日中，鸿海展示了其整合电动车硬件和软件技术的能力。鸿海的MIH 电动车平台将降低对客户和合作伙伴开发电动车的技术和资本要求。鸿海可能会成为颠覆汽车制造业的公司，因为其软件和硬件技术（内部和外部）的整合有望使其加快渗透到电动车和智能出行市场。鸿海在香港和A 股上市的子公司，包括富智康[2038.HK]、鸿腾科技[6088.HK]和工业富联[601138.CH]，可以通过提供组件和模组来参与电动车市场的发展。

Luminar是全球第一大市值激光雷达生产商。2020年12月3日，固态MEMS激光雷达生产商Luminar在纳斯达克以SPAC方式上市，是继Velodyne后全球第二家激光雷达生产商上市企业。截至2021年1月10日，公司市值达107亿美元，远高于竞争对手Velodyne 40亿美元的市值。

本篇报告是我们ESG 系列报告的第四篇，深度结合国情特色，围绕G 因子有效性提升为目标，重点聚焦管理层的薪酬、激励、稳定性以及公司制度相关的评价指标优化。实战看， 2018-2020 年，新评分体系头部组合相比中证800 实现累积超额收益达30%，且年化表现稳定。综合前三篇报告，在充分考虑国情特色基础上，我们初步完成了ESG 全体系的评分优化。

平均而言，香港和A 股上市的硬件股股价在过去一个月跑输全球同业，我们认为是部分受累于美国政府禁止投资中国军方相关公司。台湾上市的科技公司公布了12 月收入数据。总体而言，一些上游企业的12 月同比增长低于11 月。另一方面，下游企业表现出色，12 月的同比增长加快。宏观局势方面，中国公布了「阻断外国法律与措施不当域外适用办法」，或是当局推出反制裁行动的第一步。上游零部件供应紧张或短缺也是行业参与者和投资者关注的问题。大立光2020 年四季度较弱的毛利率再次突显了华为需求下降的影响。

NIPT was first discovered by Sequenom Inc., in 2010 when they launched the SensiGene Fetal RHD Genotyping laboratory-developed test to detect circulating cff-DNA from maternal blood. NIPT is rapidly commercializing due to the advancement of non-invasive technologies associated with it. The exponential growth of the NIPT market is supported by various factors, such as reimbursement policies, insurance coverage, high incidence rate of Down’s syndrome, no risk of miscarriage with NIPT, and shifting trend toward childbirth at advanced maternal age (35 years or above). However, low cost-effectiveness and inconsistent insurance coverage are hindering the market growth in some parts of the globe, mainly in the developing and under-developed nations of the world. Further, NIPT is also used for fetal sex determination and fetal rhesus D status determination in some parts of Europe. As of 2015, NIPT was offered in 60 countries throughout six continents.

With increasing evidence surfacing from the Human Microbiome Project, the coevolution of the hostmicrobiome superorganism and the unperturbed microbial component of the dyad has appeared to render sustainable host health. This coevolution has been proved by a consistently growing body of science to have a significant role in shaping evolving phenotypes in humans. The microbiota ecosystems develop, restricted to their epithelial niches by the host immune system, concomitantly with the host chronological development, providing early modulation of physiological host development and functions for nutrition, immunity, and resistance to pathogens at all ages. As a result of these findings, the human microbiome has often been dubbed as the “second genome”, attracting massive investment and research potential. Followed by globally relevant activities that have delved deeper into understanding the role of the microbiome on human health, the symbiosis between the human host and the microbiome, now deemed as the human holobiont, has emerged as the next frontier of embedding precision care into health regimens.

A location-based service (LBS) is a suite of services that includes features such as mapping and navigation, local search & information, social networking & entertainment, proximity marketing, asset tracking, and others offered via software, which help end-users to access location-specific data, and other online services. Locationbased services provide real-time geo-data from a various smart device such as smartphone to provide information, entertainment, or security. Some of the major factors driving the growth of the location-based services market include high penetration of smart devices such as sensors, IoT, and others.

华为出售荣耀，渠道合力延续手机业务 ＃summary＃ ，华为荣耀管理层大部留 任。11 月 17 日，深圳智信新宣布全面收购华为荣耀品牌手机业务，出售后 华为不再持有新荣耀公司的任何股份。据虎嗅网报道，此次交易价值可能高 达 400 亿美元（2633 亿人民币）。深圳智信新由深圳市智慧城市集团和 30 余家荣耀代理商、经销商出资设立，且荣耀管理层大体留任，据 Omida 统 计，2019 年荣耀全球销量 0.6 亿部，海外出货占比 30%。短期来看，荣耀需 要恢复供应链产能（3-6 个月）和争取 GMS 使用权；离开华为之后或导致 营销能力下滑与产品同质化，维持海外竞争力具有难度。