对于大模型初创企业，一些商业模式是不健康的 2025年上半年，大模型的行业应用爆发式增长。 DeepSeek在全国数以十万计的企业层面，起到了AI技术"扫盲"的作用。但在商业化层面，阿里巴巴、阶跃星辰以及百度等企业先行一 步，衔接起上下游合作方，率先跑通了业务流程。 开源在中国已成风潮，阿里巴巴、百度等企业都有开源模型。但在大模型落地具体行业和公司的时候，开源和闭源之争仍在继续。 阶跃星辰一直走的是超级模型和超级应用并重的路线。基础模型强调通用的能力，像尚未选择专业的本科生，应用则相当于本科生已进 行专业训练。阶跃星辰两方面都不愿意舍弃，因为模型能力决定应用的上限，而应用也给模型提供具体的场景和数据反馈。 阶跃星辰的主要收入来源，也主要是企业端，而非普通消费者。手机产业目前是它最活跃的落地场景，国内头部手机企业中一半都有合 作。此外，它的合作方还包括了一些汽车企业，比如和吉利共同打造智能座舱等。 2025年的春节，DeepSeek大模型发布。尽管OpenAI率先撬动了大模型技术，但在中国企业界完成AI技术"扫盲"的是DeepSeek，它在数以 十万计的中国企业间，迅速完成了一次知识普及。DeepSeek短期内 ...

当地时间8月7日，德国汽车工业协会（VDA）发布声明称，当前美国对欧洲汽车27.5%的行业关税"仍 然有效"，呼吁欧盟与美国之间达成的贸易协议需要立即实施，以为汽车行业带来实质性缓解。 目前，欧盟仍需等待美国总统特朗普签署新行政命令，相关协议内容才能生效。 不过，美欧贸易紧张局势的"至暗时刻"可能已经过去。德国ifo经济研究所最新数据显示，7月汽车行业 商业气候指数显著回升，虽然仍处于负值区间，但已从-31.6上升至-23.8，行业商业预期指数也从-27.3 改善至-19.3。 牛津经济研究院助理经济学家巴克斯特（Samuel Bakst）对第一财经记者表示，协议的确降低了欧盟和 美国之间贸易战重新升级的下行风险，"但目前仍在等待上月达成的贸易协议更多实施细则的公布。已 披露的有限细节持续加剧经济不确定性，我们预计这种不确定性将持续影响市场直至年底。" 特朗普政府自4月开始实施25%的汽车关税，叠加6月美国将钢铁和铝进口关税从25%提高至50%的政策 影响，整个汽车行业面临前所未有的压力。 在关税冲击下，多家欧洲汽车巨头近期纷纷下调财务预期。7月，大众汽车公司披露，美国关税已导致 其上半年利润减少约15亿美元 ...

Group 1 - The craft beer segment is becoming increasingly crowded, with companies like Wuliangye and Haoxiangni entering the market, indicating a growing interest in craft beer despite the challenges of differentiation [1][2] - Wuliangye plans to launch a high-end craft beer named "Fenghuolun" priced at 19.5 yuan per can, while Zhenjiu Liduo Group is introducing a new beer called "Niushi" priced at 88 yuan per bottle, showing a trend towards premium positioning in the craft beer market [1][2] - The craft beer market is experiencing rapid growth, with a projected market size of approximately 680 billion yuan in 2024, expected to exceed 1 trillion yuan by 2025, driven largely by consumers aged 18 to 35 who contribute 65% of sales [3] Group 2 - The white liquor industry is currently facing a downturn, with a reported production decline of 5.8% in the first half of the year, leading companies to seek opportunities in the craft beer sector [2][4] - New entrants in the craft beer market are drawn by the growth potential, but the industry is also experiencing a "walled city" effect, where established brands dominate, making it difficult for newcomers without strong brand or channel advantages to succeed [4] - The advantages of white liquor companies entering the craft beer market include channel reuse and brand leverage, but they also face challenges such as consumer skepticism regarding their expertise in beer production and the mismatch between the business-oriented nature of liquor and the youthful, niche culture of craft beer [4]

Core Viewpoint - The recent policy document issued by multiple government departments aims to promote the innovation and development of the brain-computer interface (BCI) industry in China, outlining five key tasks and specific measures to achieve significant growth by 2027 and 2030 [2][10]. Group 1: Key Tasks and Goals - The document identifies five key tasks: strengthening foundational hardware and software, developing high-performance products, promoting the application of technological achievements, expanding innovation entities, and enhancing industrial support capabilities [4][16]. - By 2027, breakthroughs in key BCI technologies are expected, establishing an advanced technical, industrial, and standard system, with products achieving international standards in various fields [3][15]. - By 2030, the BCI industry is projected to have significantly improved innovation capabilities, nurturing globally influential leading enterprises and a competitive industrial ecosystem [14][15]. Group 2: Market Growth and Projections - According to research data, the BCI market in China is expected to reach a scale of 3.2 billion yuan in 2024, with a growth rate of 18.8%, and is projected to grow to 6.14 billion yuan by 2028, reflecting a compound annual growth rate of 17.7% [3][10]. Group 3: Regional Development Initiatives - Various regions, including Beijing, Shanghai, and Nanjing, have launched initiatives to accelerate the development of the BCI industry, aiming to establish demonstration zones and achieve large-scale commercialization of BCI products in sectors such as healthcare and education by 2030 [5][6]. - The recent clinical trials of invasive BCI technology in China mark a significant milestone, positioning the country as the second globally to enter this phase [6][10]. Group 4: Specific Measures and Innovations - The document details 17 specific measures, including the development of high-channel, high-speed brain signal acquisition chips, and the creation of innovative non-invasive products such as headsets and glasses [4][24]. - Emphasis is placed on enhancing the performance of implantable devices and integrating advanced features for improved control and response speed [22][23]. Group 5: Collaborative Ecosystem and Standards - The policy encourages collaboration among government, academia, and industry to foster an innovative ecosystem, while also establishing a standard system for BCI technology to ensure quality and safety [36][40]. - The document highlights the importance of talent cultivation and the establishment of specialized institutions to support the growth of the BCI sector [41][42].

江海证券资深投资顾问李龙拴认为，指数上升趋势不变，正在震荡消化前期筹码。深圳德讯证券顾问有 限公司投资顾问刘奎军也认为，A股中线上行趋势依然稳固。国诚投顾朱显东则认为，指数显疲态，需 警惕回落风险。 ...

Group 1 - Huaguang New Materials and Feilong Co., Ltd. both hit the daily limit up in the afternoon trading session [1] - In previous trading, Yingweike also reached the daily limit up, while Qiangrui Technology and Yimikang surged over 10% [1] - Other companies such as Zhongshi Technology, Shenling Environment, Rihai Intelligent, and Chunz中 Technology saw increases of over 5% [1]

Core Viewpoint - The ongoing legal battle regarding the Trump administration's imposition of high tariffs on multiple countries raises questions about the limits of executive power and whether such actions are unconstitutional [1][2]. Group 1: Legal Proceedings - The Washington D.C. Circuit Court of Appeals held a hearing to debate whether the Trump administration's tariff actions constitute an overreach of authority [1]. - The case stems from an appeal against a ruling by the U.S. International Trade Court that temporarily blocked the President's broad use of tariffs [1]. - The court is examining the interpretation of the International Emergency Economic Powers Act (IEEPA) and whether it grants the President unlimited tariff authority without Congressional approval [2][4]. Group 2: Historical Context and Arguments - The Trump administration's tariffs, which range from 10% to 41%, are based on a broad interpretation of IEEPA, which critics argue has never granted such extensive tariff-setting powers [4][5]. - Historical precedents, such as the Nixon administration's temporary tariffs, are being cited, but the current tariffs lack a specified end date and alter the established tariff schedule [5][6]. - The government argues that IEEPA allows for broad import regulation, while critics assert that the act does not explicitly mention tariffs and that Congress has not authorized such expansive powers [6][8]. Group 3: Potential Outcomes and Implications - If the court rules against the Trump administration, it may lead to significant financial implications, including the potential requirement for the government to refund tariffs already collected [7][9]. - The total tariffs collected under IEEPA and other trade laws have exceeded $150 billion, nearly double the amount from the previous fiscal year [8]. - The complexity of refunding tariffs raises questions about who would be eligible for refunds, as the costs are often passed through the economic system [9].

脑机接口板块今日大涨，赛诺医疗、广电股份涨停，乐普医疗涨超8%。 中泰证券指出，脑机接口获政策强支持力度，产业迈入加速成长阶段。非植入式产品在政策支持下，商 业化落地速度有望加快，植入式设备有望凭借更高的信号分辨率与操作精度，为高精度医疗场景提供技 术支持。建议关注非植入式领域软硬件或产品研发进展较快的标的。 湘财证券指出，作为医疗领域前沿技术，脑机接口的应用将在态者检测、疾病康复、技能替代等方向逐 步落地。建议关注积极布局脑机接口技术的相关公司。 消息面上，工信部等七部门印发《关于推动脑机接口产业创新发展的实施意见》。 ...

在美国关税政策反复多变的背景下，区域一体化合作将进一步加快。 距离中美商定于8月12日结束的90天关税暂缓过渡期还剩不到一周，中国最新公布的外贸数据超出外界 预期。 根据海关统计的数据，2025年前7个月，我国货物贸易进出口总值25.7万亿元人民币，同比增长3.5%。 其中，出口增长7.3%，进口下降1.6%，降幅较上半年收窄1.1个百分点。 其中，7月份的进出口和出口分别增长6.7%和8%，进口增长4.8%，连续两个月增长。 全球"抢出口"升温 面对美国近期持续向印度等多国挥舞关税大棒，中国外贸超出预期的表现备受国际关注。"抢出口""转 出口"效应升温被认为是7月出口加快增长的动因之一。 按照"90天过渡期"将在8月12日结束的节奏来算，考虑到海上运输及清关、上架的时间，中国的货物要 想在过渡期内运抵美国需要在7月前完成出运。这一定程度上解释了7月中国对美出口降幅扩大。 海关总署统计分析司司长吕大良提出，按人民币计，前7个月，我国对东盟、欧盟、非洲、中亚进出口 同比分别增长9.4%、3.9%、17.2%、16.3%。其中，我国与东盟、欧盟贸易总值占我国外贸总值的近三 成，对共建"一带一路"国家合计进出口增长 ...

2025年8月7日晚，成都世运会开幕式在成都天府国际会议中心"天府之檐"区域正式举行。本届世运会开幕式以"运动无限 气象万千"为主题，为全球呈现活 力与时尚、运动与欢乐、科技与创新的中国式现代化万千气象。 本届世运会开幕式不再局限于体育场馆内的封闭空间，而是将场地搬进成都的城市空间——"天府之檐"前的区域，来自全世界的运动员们同在屋檐下，感受 城市自然景观、历史文化与市民生活场景。 开幕式整体时长约90分钟，其中文体表演环节约15分钟。现场亮点纷呈： 中华人民共和国国旗、国际世界运动会协会会旗、国际奥林匹克委员会会旗和成都世运会组委会会旗在庄严的国歌声中冉冉升起； 《缤纷之约》以街舞融合轮滑、滑板、啦啦操等运动元素激情开场； 12名中国青年歌手将与来自美国OneVoice、意大利安东尼亚诺、上海小绣球花、大凉山妞妞合唱团的小朋友共同组成的国际童声合唱团，共同主题曲《万 千》； 极具创意和挑战的点火仪式，火炬"竹梦"成功点燃世运会首个"水火相融"于湖中的火炬塔，绚烂的火焰交相辉映。 来自世界各地运动员在吉祥物"蜀宝""锦仔"和仪式标兵的欢迎下踏上实现拼搏与超越的荣耀之路，蕴含蜀绣、漆艺等特色非遗工艺的引导牌传递 ...