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凤凰网科技讯（作者/于雷）5月30日，针对近期网络上关于"汽车圈恒大"的质疑声音，比亚迪 （002594）集团-品牌及公关处总经理李云飞今日发布长文公开回应，逐一反驳相关指控。 此次争议源于长城汽车（601633）魏总此前的表态："现在汽车产业里边的'恒大'，已经存在了，只不 过没爆而已。"该言论在业内引发广泛讨论，不少声音将矛头指向比亚迪。 李云飞在回应中连续抛出五个问题进行反击。针对70%资产负债率被质疑过高的说法，他列举了福特 84%、通用汽车76%、苹果80%、波音102%等数据进行对比，质疑为何单独针对比亚迪。在总负债规模 方面，比亚迪5800多亿的负债相比丰田2.7万亿、大众3.4万亿、福特1.7万亿显得并不突出。 更为关键的是，李云飞强调应重点关注"有息负债"这一核心指标。数据显示，比亚迪有息负债为286亿 元，而吉利为860亿、上汽为945亿、丰田高达1.8万亿。从这一角度看，比亚迪的财务风险相对较低。 关于供应商应付款问题，李云飞解释称，应付账款规模与企业营收规模直接相关。比亚迪应付账款占营 业收入比例为31%，低于上汽的38%和长城的39%。在付款周期方面，比亚迪为127天，与吉利持平，明 ...

凤凰网科技讯（作者/于雷）5月29日，小鹏MONA M03 Max新车上市发布会昨日举行，在会后的媒体 群访中，小鹏汽车董事长、CEO何小鹏，携同自动驾驶负责人李力耘及MONA产品系列负责人杨光， 就行业竞争、公司战略、技术路线及新品MONA M03 Max的市场定位等热点问题进行了解答。何小鹏 强调，未来的竞争核心将是科技、全球化和具身智能，而非单纯的价格战 。 针对小鹏首发的人机共驾功能，自动驾驶负责人李力耘解释其旨在提升用户体验，达到人车合一的效 果，是全栈自研能力的体现。何小鹏补充道，人机共驾如同"大脑+小脑进行共同的协作"，是迈向更高 阶自动驾驶的必要中间过程，能大幅提高安全和体验。他解释了人机共驾的介入与退出机制，例如通过 踩刹车或在中高速（约70公里/小时以上）扭动方向盘会退出共驾模式。 对于MONA系列热销是否会固化小鹏品牌定位的疑问，何小鹏回应称，小鹏P7曾在2021年是销量担 当，新款P7将于今年三季度推出，同时X9在纯电MPV市场也持续领先。他强调"今年四季度的小鹏我认 为是产品大年"，公司将展现全域能力的提升。 关于盈利问题，何小鹏表示，尽管小鹏今年研发投入（含飞行汽车）接近100亿人 ...

Group 1 - The core point of the article is that Faraday Future (FF) successfully passed all proposals at its annual shareholder meeting, which supports the goal of launching its first vehicle, FX, by the end of 2025 [1][2] - The approval of key proposals, including board elections, private placement, and share authorization, indicates strong shareholder support for the current management team, with all five board candidates receiving over 95% of the votes [1] - The private placement will enhance FF's financial strength, helping the company maintain compliance with NASDAQ listing requirements and creating conditions for future financing [1][2] Group 2 - The share authorization proposal increased the number of common shares from 129 million to 167 million, a 29% increase, allowing room for future mergers, acquisitions, and strategic partnerships [1] - FF reiterated its firm opposition to share consolidation, committing to enhancing shareholder value through capital structure optimization while maintaining NASDAQ listing status [1] - The FX prototype has received public road testing approval, and the first mass-produced model, Super One, is set for a product launch event this summer, with positive feedback from U.S. consumers and dealers [2] Group 3 - Management's decision to increase their holdings through a 10b5-1 purchase plan, totaling $610,000 in FF common stock, is seen as a sign of confidence in the company's long-term development [2] - The stock price of FFAI rose 8.2% despite a general downturn in the U.S. stock market and the electric vehicle sector, with a peak increase of 16% during trading [2] - The upcoming timeline for the FX product line and the goal of achieving strategic objectives by 2025 will be critical in assessing the viability of FF's business model [2]

Core Viewpoint - Tesla's sales in Europe dropped by 49% year-on-year in April, indicating a significant decline in consumer interest in the brand [1] Group 1: Consumer Sentiment - A Danish consumer, Mahican Gielen, shared her experience of switching from Tesla to BYD, citing dissatisfaction with Tesla's price cuts and CEO Elon Musk's controversial actions as key factors [1][2] - Gielen sold her Tesla Model 3 for 150,000 Danish Krone (approximately $22,000), incurring a loss compared to her purchase price of 350,000 Danish Krone [2] Group 2: Market Dynamics - Gielen expressed that the entry of Chinese electric vehicle brands into Europe is beneficial, as they bring unique value and innovation compared to traditional European brands [2] - She noted that many European brands seem repetitive and lack the innovative spirit that Tesla once had [2]

此外，深蓝S09搭载华为乾崑智驾ADS 3.3系统，并计划于2025年下半年通过OTA升级至ADS 4.0。鸿蒙 座舱HarmonySpace 5提供交互体验，支持行业首发的儿童专属AI精灵等功能。华为全向防碰撞CAS 3.0 系统提供多项主动安全功能。 动力技术方面，新车搭载原力智能增程系统（官方称为2.0版本），1L油可发3.63度电，并搭载宽温域 电池技术。 此外，深蓝采用全新底盘架构，搭载前双叉臂+后H臂多连杆悬挂、分体式CDC空悬与主动魔毯系统。 还配备可移动冷热冰箱、前排双15.6英寸联屏、后排21.4英寸娱乐屏等。 凤凰网科技讯 5月29日，深蓝汽车旗下全新大六座SUV——深蓝S09正式上市并启动交付。共推出5款配 置：后驱Max、后驱Ultra、后驱Ultra+、四驱Ultra、四驱Ultra+高定版，价格区间为23.99万-30.99万 元。 空间定位方面，深蓝S09车身尺寸为5205x1996x1800mm，轴距达3105mm，定位家庭大六座SUV市场， 与理想L9、问界M9同级。 安全性能方面，深蓝S09配备同级最长后防撞梁，后防撞梁至三排座椅距离达950mm并具有2700mm超 长侧气 ...

Group 1 - Google's founder Larry Page has been laying the groundwork for AI since 2000, while Apple is only beginning to catch up in this field [1][2] - The development of AI foundational components takes years or even decades, and these components are often not visible to end users [1][4] - Google has nearly all the necessary AI foundational components, while Apple has very few, which poses a significant problem for the company [1][5] Group 2 - Google has invested heavily in AI, with plans to spend $75 billion on capital expenditures this year, primarily for AI data centers [4] - Google is a major renewable energy purchaser and has agreements to develop three nuclear power plants to support its AI operations [4] - Apple lacks large-scale data centers and often relies on Google's data centers for critical projects, indicating a significant dependency on competitors [7] Group 3 - Apple's cautious approach to utilizing user data for AI development has hindered its progress, as it has only recently begun developing its own AI chips [7] - The company has been slow to recruit AI talent and has imposed restrictions on researchers publishing papers, which is crucial for attracting key talent [7] - If generative AI significantly transforms computing devices, Apple's lack of foundational AI components could become a major issue [8]

Group 1 - OnePlus Ace5 Supreme Edition was officially launched on May 27, focusing on gaming performance with a starting price of 2499 yuan [1] - The device is powered by MediaTek's flagship chip Dimensity 9400+, achieving a benchmark score of 3.22 million on AnTuTu, setting a new performance record for Dimensity platform smartphones [3] - The Dimensity 9400+ chip integrates the Wind Chaser gaming core, enhancing gaming performance by 8% and reducing power consumption by 15% compared to the standard version [3] Group 2 - The OnePlus Ace5 Supreme Edition features an "eSports triple-core" hardware solution, ensuring full-frame performance during gaming sessions and leading 1% Low frame performance in popular games compared to peers [5] - The device introduces the "Lingxi Touch Core," supporting a maximum instantaneous response sampling rate of 3000Hz, with a touch response speed of 0.04 seconds [5] - The self-developed eSports Wi-Fi chip G1 improves connection distance by 11% and network speed by 26% compared to other products [5] Group 3 - The display of OnePlus Ace5 Supreme Edition includes a 144Hz high refresh rate screen, supporting 1.5K resolution and a peak brightness of 1400 nits [6] - The upgraded cooling system, named Ice River Cooling Solution, has a total cooling area of 41,875 square millimeters [6] - The device is equipped with a 6700mAh battery and supports 100W fast charging technology [6] Group 4 - OnePlus officially became the strategic partner for the game "Valorant Mobile" in China, with the Ace5 Supreme Edition designated as the official device for the first public tournament in the second half of the year [7] - The partnership will involve deep collaboration across technology, events, and market dimensions [7] Group 5 - The launch event also introduced the OnePlus Ace5 Racing Edition, which features the Dimensity 9400e chip and supports native 120 frames per second with 1% Low frame performance [8] - This model boasts a record battery capacity of 7100mAh, allowing for 6-7 hours of gaming or a full day of streaming on a single charge, with a starting price of 1799 yuan [8]

Core Insights - Tencent's Hunyuan team and Tencent Music's Tianqin Lab have launched and open-sourced the HunyuanVideo-Avatar voice digital human model, which can generate dynamic video content from a single image and audio file [1] - The model integrates Tencent's Hunyuan video large model with MuseV technology, enabling it to recognize environmental information and emotional content from the input image and audio [1] - HunyuanVideo-Avatar supports various scene settings and artistic styles, breaking the limitations of traditional digital human technology by offering full-body motion capabilities [1] Application and Implementation - HunyuanVideo-Avatar has been implemented in several core products of Tencent Music Entertainment Group, including real-time singing actions in QQ Music and storytelling capabilities in Kugou Music [2] - The model employs a multi-modal diffusion Transformer (MM-DiT) architecture, ensuring consistency in character representation and extracting emotional features from audio and images [2] - The technology has achieved industry-leading levels in subject consistency and audio-visual synchronization, matching the performance of mainstream closed-source solutions [2] User Experience and Future Developments - The single-subject functionality of HunyuanVideo-Avatar is available for user experience on Tencent's official website, currently supporting audio files of up to 14 seconds [3] - The open-source initiative is expected to promote the widespread application of AI video generation technology, providing cost-effective solutions for short video creation, e-commerce marketing, and advertising [3]

Core Viewpoint - Pinduoduo's Q1 2025 financial report shows a revenue of approximately 95.7 billion RMB, marking a 10% year-on-year growth, the lowest in recent quarters, with a significant decline in operating profit by 38% [1] Financial Performance - The company's revenue fell short of market expectations by about 6 billion RMB, and profits were nearly 9 billion RMB below forecasts, leading to a pre-market stock drop of over 20% and a final decline of nearly 14% [1] - Marketing expenses reached 33.4 billion RMB, an increase of nearly 10 billion RMB compared to the same period last year, driven by the launch of the "100 billion support" strategy [1][2] Strategic Initiatives - The "100 billion support" plan includes various measures to assist merchants, with a focus on reducing operational costs, which has impacted short-term revenue performance [2] - Pinduoduo's management emphasized that investments in merchant support are viewed as long-term investments rather than immediate expenses, aiming to enhance platform ecology over the next 5 to 10 years [2][4] Merchant Support Measures - The company has established a "Merchant Rights Protection Committee" to oversee resources and support for merchants, including regular communication and violation warning mechanisms [2] - Pinduoduo is expanding its support to small and medium-sized merchants and has introduced a "100 billion merchant feedback plan" to provide consumer coupons and subsidies across various product categories [3] Agricultural Support - The "2025 Duoduo Good Specialty" initiative is actively engaging with agricultural regions to enhance production and income for local farmers, with customized solutions for local specialties [3][4] - The company is also supporting the establishment of a technology center focused on "digital commerce + new farmer training" in Yunnan, marking a significant step in agricultural innovation [3] Long-term Vision - Despite short-term financial challenges due to substantial merchant support investments, this strategy is expected to create a more stable merchant ecosystem for future growth [4] - The company remains committed to high-quality development and supporting merchants through economic cycles, emphasizing a long-term growth path [4]