Core Viewpoint - The meeting held by multiple government agencies aims to regulate the competitive order in the power and energy storage battery industry, addressing irrational behaviors that disrupt market order and hinder sustainable development [2][3]. Group 1: Meeting Overview - The meeting was attended by 16 key enterprises, including 13 power and energy storage battery companies and 3 system integrators, to discuss industry regulation [3]. - The meeting emphasized the rapid development of China's power and energy storage battery industry, which has gained a competitive advantage globally, but faces challenges such as blind construction and price competition [2][3]. Group 2: Demand Forecast - A significant decline in domestic demand for new energy lithium batteries is expected in early 2026, with a projected decrease of at least 30% in sales of new energy passenger vehicles due to changes in tax policies [4]. - Factors contributing to the demand drop include adjustments in the new energy vehicle purchase tax, the end of subsidy rush for commercial vehicles, limited impact from exports, and weak domestic energy storage market demand [4]. Group 3: Industry Impact - The decline in demand may lead to overcapacity issues for battery manufacturers, affecting revenue and profits [5]. - The overall development pace of the industry may be disrupted, impacting both upstream and downstream enterprises [5]. - Investors may see negative effects on the stock performance of related battery production companies due to the anticipated demand decline [5].

Group 1 - The company, Huasheng Lithium, announced plans to issue H-shares and list on the Hong Kong Stock Exchange [2][3] - The company is currently in discussions with relevant intermediaries regarding the specifics of the H-share issuance and listing [2] - The H-share listing will not change the company's controlling shareholder or actual controller, but will require approval from the board, shareholders, and regulatory bodies [3] Group 2 - The H-share listing plan aims to accelerate the company's international strategic layout and enhance its overseas financing capabilities [3] - The initiative is part of the company's overall development strategy and operational needs to improve capital strength and competitive edge [3]

近日，安凯微在接受机构调研时表示，公司AI眼镜相关芯片已正式实现量产，后续将有更多搭载该芯片的终端产品上市。 安凯微的芯片和解决方案已覆盖AI音频眼镜、AI拍摄眼镜、AI显示/投影眼镜等主流品类，支持视频、音频、无线连接等核心功能。低功耗蓝牙芯片还可广 泛应用于AI耳机、智能穿戴、智能玩具等多个场景。 目前，安凯微已与第四范式集团微克、浩声科技等企业达成合作，相关AI智能眼镜、AI骑行眼镜产品已顺利推出。在CES2026展会上，还有合作伙伴携基于 其芯片的AI眼镜产品亮相。 安凯微表示，还有更多终端产品的方案在推广和客户项目开发阶段，后续预计还会有更多客户产品上市及量产。 （校对/黄仁贵） - 12 20 11 20 12 20 12 -18 and ry and and the program and the first of the f a " 72337" 2 - 1 1 2 2 2 20 4 - 1 - 9 - 9 - 9 - 9 - 9 - 1 // Ad > 10 that 1 = l an 11 25 Prifil 1.50 P.1 11 2 2 and and and the search o ...

Core Insights - The company has fully shifted its core business towards intelligence, launching a comprehensive hardware and software integrated intelligent driving solution in partnership with Geely, Maichi, and Lotus [2] - The autonomous driving service (Robotaxi) has been successfully implemented in Chengdu, with the release of the G-ASD advanced driving assistance solution covering levels L2 to L4, now equipped in Zeekr and Lynk & Co models [2] Company Transformation - Founded in 1992 and listed in 2010, the company has undergone significant capital and strategic restructuring to transition from a traditional manufacturer to an intelligent driving technology company [2] - Key developments include the introduction of strategic investors like Manjianghong Fund and Geely in 2020, the establishment of Ruiblu Automotive in 2022, and the enhancement of governance with industry elites joining the company [2] - The company has submitted an application for a Hong Kong stock listing in 2025 to broaden its financing channels while maintaining traditional automotive and motorcycle businesses as stable cash flow foundations [2] Technological Advancements - The company plans to gradually apply the iteration of its intelligent driving system 2.0 and improvements in obstacle scenarios in next year's vehicle deliveries, aiming for L3 level capabilities with expected completion of quasi-L3 access this year [3] - Significant enhancements in technical architecture and model parameters, along with continuous updates in hardware configuration and cloud-based model support, are being made to achieve L3 level [3] - Discussions on technical challenges such as sensor fusion, algorithm changes, and competitive responses from domestic manufacturers were highlighted, emphasizing the impact of model-driven acceptance and data granularity on recognition results [3] Strategic Partnerships - Geely is identified as a key Alpha customer, with plans to deepen collaboration on integrated hardware and software solutions while actively negotiating with other OEMs for strategic partnerships [3] - Despite market pressures on pricing and shipment volumes, the company anticipates rapid growth from major and strategic customers, focusing on the development of integrated solutions to enhance the importance of flagship vehicle cabins [3]

| | | | | | | | | 里位: 纳 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | | | 月度同比 | | | 年度同比 | | | | | 十二月份产销量明细 | 本月 | 去年 | 增减 % | 本年 | 去年 | 增减 % | | | | | | 同期 | | 累计 | 累计 | | | | 乘 | 运动型多用途乘用车(SUV) | ਦੇਤਕਰੇ | 8739 | -38.79 | 69292 | 84864 | -18.35 | | | 用 | 多功能乘用车(MPV) | 1013 | 1039 | -2.50 | 17952 | 15742 | 14.04 | | | 车 | 基本型乘用车(轿车) | તે તે 88 જિલ્લાના મુખ્યત્વે આ ગામનાં મુખ્યત્વે આ ગામનાં મુખ્યત્વે આ ગામનાં મુખ્યત્વે આ ગામનાં મુખ્યત્વે છે. આ ગામનાં | 3269 | 193.30 | 56771 | 62304 | -8.8 ...

Core Viewpoint - In 2025, the Chinese automotive chip industry is expected to achieve significant breakthroughs in domestic substitution driven by the dual forces of the "new four modernizations" in the automotive industry and global technological competition, supported by policies, technological advancements, and market demand [2] Current Situation - National policies are enhancing top-level design, with the Ministry of Industry and Information Technology outlining key standards for smart connected vehicles and automotive chips, and the establishment of a testing laboratory for automotive-grade chips to support market regulation [3] - Local policies are providing targeted support, such as subsidies for companies achieving automotive-grade certification, and initiatives to promote the full chain transformation of automotive chips [3] - Collaborative efforts in the automotive chip supply chain are increasing, with partnerships formed between companies like Hongyi Chip and the Ministry of Industry, and various automotive innovation centers facilitating cooperation [4] Key Breakthroughs - Significant advancements in intelligent driving chips have been made, with companies like Chipone Technology and GAC Group developing high-performance chips that have begun mass production and collaboration with automotive manufacturers [5] - The domestic market for power semiconductor devices is rapidly increasing, with companies like BYD leading in IGBT power device installations and domestic MCU chip deliveries reaching over 200 million units [6] Core Trends - Technological innovation is driving the automotive chip industry towards high-quality development, with increasing demands for chip performance, integration, and energy efficiency [7] - The shift towards advanced processes and architecture optimization is evident, with 4nm technology becoming mainstream and 3nm technology entering the planning stage [7] - The demand for specialized chips is rising, with ASIC chips becoming the preferred choice for leading automotive companies due to their high performance and low power consumption [7] Expanding Substitution - The domestic market share for MCUs is projected to exceed 25% by 2026, with expectations for overall chip localization rates to surpass 50% by 2028 [8] - High-end chip substitution is accelerating, with domestic AI chips and SiC devices beginning to challenge international competitors in advanced driving scenarios [8] Future Outlook - 2025 is seen as a pivotal year for the Chinese automotive chip industry, with ongoing policy support, technological breakthroughs, and significant progress in domestic substitution [10] - The industry is expected to continue its focus on high-end, intelligent, and green technologies, with domestic chips playing a crucial role in the global automotive chip innovation landscape [10]

Core Viewpoint - Unisoc Microelectronics is planning to issue shares and pay cash to acquire controlling or full ownership of Ruineng Semiconductor Technology Co., Ltd., which constitutes a related party transaction [2] Group 1: Transaction Details - The transaction involves parties including Nanchang Jianen Semiconductor Industry Investment Center (Limited Partnership), Beijing Guangmeng Semiconductor Industry Investment Center (Limited Partnership), and Tianjin Ruixin Semiconductor Industry Investment Center (Limited Partnership) [2] - The company is actively advancing the transaction, including negotiating the transaction plan and preparing the transaction proposal as of January 7, 2026 [2] Group 2: Stock Suspension - To protect investor interests and avoid abnormal fluctuations in stock prices, Unisoc Microelectronics' stock and convertible bonds (referred to as Guowei Convertible Bonds, bond code: 127038) have been suspended from trading since December 30, 2025 [2] - The expected suspension period is no more than 10 trading days, but due to uncertainties in the transaction, the stock will continue to be suspended [2] Group 3: Information Disclosure - During the suspension period, the company will actively promote various tasks and fulfill information disclosure obligations in a timely manner based on the progress of the transaction [2] - Once the relevant matters are confirmed, the company will disclose the necessary documents and apply for the resumption of trading [2]

Group 1 - Unilumin (HK) Co., Limited, a wholly-owned subsidiary of Unilumin Technology, successfully subscribed for 66,900 shares of Beijing Zhipu Huazhang Technology Co., Ltd. during its IPO on the Hong Kong Stock Exchange, amounting to HKD 7,773,780 [2] - Zhipu, established on June 11, 2019, is a leading AI large model enterprise in China, focusing on AI foundational software development, application software development, data processing services, and big data services [2] - The company is recognized for its technological reserves and product development in AI Agent, positioning it as a leader in the domestic market [2] Group 2 - As of December 31, 2024, Zhipu reported total assets of CNY 437,577 million, total liabilities of CNY 833,091 million, and total equity of CNY -395,514 million, with a revenue of CNY 31,241 million and a net loss of CNY -295,801 million for the fiscal year [3] - By June 30, 2025, Zhipu's total assets increased to CNY 510,071 million, total liabilities rose to CNY 1,125,155 million, and total equity decreased to CNY -615,084 million, with a revenue of CNY 19,088 million and a net loss of CNY -235,785 million for the first half of 2025 [3] - Unilumin Technology has formed a joint venture with Beijing Yuan Ke Shi Jie Technology Co., Ltd. and Zhipu, investing CNY 25 million and holding a 50% stake, aiming to integrate core technological advantages for AI intelligent terminals [3]

Core Viewpoint - Horizon Together Holding Ltd. has increased its stake in Youjia Innovation by acquiring a total of 688,200 H-shares, reflecting confidence in the company's long-term business development [2][3] Group 1: Investment Details - Horizon Together, a wholly-owned subsidiary of Horizon Robotics, has made this purchase in the open market [2] - The acquisition is based on the strong collaborative foundation between Horizon Robotics and Youjia Innovation over the years [3] Group 2: Business Collaboration - Youjia Innovation and Horizon Robotics have a deep partnership in the development of intelligent driving solutions and L4 unmanned logistics vehicle solutions [2] - Youjia Innovation's auxiliary driving domain controller products, developed based on Horizon Robotics' processing hardware, have achieved large-scale production and are being utilized by several leading domestic and international passenger and commercial vehicle manufacturers [2]

据军队采购网1月6日发布的信息显示，成都国星通信有限公司注册地址为四川省成都市高新区西芯大道3号10栋，统一社会信用代码为 91510100716092465M。经调查核实，该公司在参与项目编号为2020-ZCWDDK-W1002的采购活动中，存在串通投标等违规行为。依据军队供应商管理相关 规定，西部战区联合参谋部直属工作局作出了上述处罚决定，处罚期限自2026年1月6日起计算。 对于此次处罚对公司的影响，振芯科技在公告中表示，目前公司及子公司整体生产经营活动正常。经统计，国星通信近五年未与西部战区（机关和直属单 位）发生业务往来，最近一次合作是在2020年，当时签订的采购合同金额为98.95万元，占振芯科技2020年度营业收入比例仅为0.17%。因此，公司预计本次 违规处理决定对生产经营暂不构成重大影响。 1月7日，振芯科技发布公告称，其控股子公司成都国星通信有限公司收到西部战区联合参谋部直属工作局的违规处理决定，自2026年1月6日起，3年内禁止 参加西部战区（机关和直属单位）范围物资工程服务采购活动。 ...