影石的成长与短板清晰可见，唯有补齐技术底盘，才能在长期竞争中站稳脚跟。 在智能影像赛道，影石凭借全景赛道快速冲击全球格局，可繁荣之下，短板同样清晰。尤其影石，创始 人风格、产品线结构、底层技术积累，与大疆、华为仍存在客观且难以短期弥补的差距。本文以中性视 角，只聚焦影石一家，复盘其真实竞争力、全球化布局与核心短板。 01 年会送房的背后： 增长亮眼，隐忧同样明显 影石的崛起，是典型的细分赛道突围样本。公司从全景相机切入，一度拿下全球超70%的市场份额，随 后拓展运动相机、全景无人机，海外收入占比超七成，2025年营收与利润均创下新高，资本市场与机构 也对其给予乐观预期。 但从企业特质来看，影石是高度创始人驱动的公司。刘靖康对产品、用户体验、市场传播敏感度极高， 擅长打造爆款、快速落地，团队执行力与激励力度都处于行业上游。这种模式在创业阶段爆发力极强， 但也自带短板：战略更偏前端产品，底层技术与中长期平台化投入不足，组织体系高度依赖个人判断。 对比大疆十几年死磕飞控、云台、图传的工程积累，对比华为在芯片、通信、全栈AI的底层布局，影 石的技术厚度明显不足。在自研芯片、独立影像处理器、高精度运动控制、专利防御矩阵 ...

Core Insights - The high-end flashlight industry in China has gained significant traction through live e-commerce, leading to increased product capabilities and operational efficiency [40] - The emergence of "Flashlight King" as a top influencer on Douyin has opened a new market for high-end flashlights, previously dominated by exports [4][30] - The live streaming format has transformed consumer perceptions of flashlights, turning them from a mundane tool into an engaging product [12][18] Group 1: Market Dynamics - The high-end flashlight market was largely overlooked domestically, with 99.9% of production focused on exports before the rise of live e-commerce [8][30] - The introduction of live streaming has allowed for precise user targeting, revealing a previously unrecognized demand for high-value flashlights [7][40] - The industry has seen a shift from a focus on practicality to innovation, with brands now incorporating advanced features and higher brightness levels [39][40] Group 2: Business Model Transformation - The "Flashlight King" transitioned from documentary filmmaking to e-commerce, leveraging his outdoor experience to build a successful brand [6][8] - The collaboration between influencers and manufacturers has led to a new C2M (Customer to Manufacturer) model, allowing for rapid product iteration based on direct consumer feedback [32][30] - The efficiency of production has improved significantly, with manufacturers now able to respond to demand in a matter of months rather than years [31][33] Group 3: Consumer Engagement - The live streaming format has created a unique interaction space where consumer feedback directly influences product development [22][30] - Flashlights are now marketed not just as tools but as lifestyle products, appealing to a broader audience including collectors and outdoor enthusiasts [29][30] - The ability to showcase the visual impact of high-lumen flashlights during live streams has changed consumer perceptions, leading to increased interest and sales [14][20] Group 4: Industry Impact - The rise of the "Flashlight King" has revitalized the entire high-end flashlight supply chain in China, encouraging manufacturers to explore domestic markets [30][40] - The industry has benefited from a shift towards domestic production, with over 90% of components now sourced locally, reducing reliance on imports [39][40] - The overall operational efficiency of manufacturers has improved, allowing for better cost management and increased profitability [35][37]

Core Insights - The long video platforms are preparing for the upcoming Spring Festival with a diverse lineup of approximately 20 dramas covering various genres, including historical, contemporary, and comedy [1][19] - Despite the variety, the long dramas seem to be less impactful compared to the short dramas, which have gained significant attention in recent years [1][19] Group 1: Current and Upcoming Dramas - Recent dramas like "Tai Ping Nian," "Sheng Ming Shu," "Tang Gong Qi An Zhi Qing Wu Feng Ming," and "Cheng He Ti Tong" represent high-quality projects for this year's Spring Festival, with most concluding during the holiday period [1][4] - "Tai Ping Nian" has received a positive reception, with a Douban score rising from 7.8 to 7.9, indicating a recovery in audience interest [4] - "Sheng Ming Shu," focusing on anti-poaching themes, showcases the production team's strengths in detail and character development, addressing serious ecological issues [4] Group 2: New Releases and Their Reception - New dramas such as "Xiang Cun Ai Qing 18," "Chong Fan Qing Chun," and "Jiang Hu Ye Yu Shi Nian Deng" are currently airing, with varying levels of market performance, mostly positioned in the mid-tier [6][10] - The comedy genre is well-represented, with "Xiang Cun Ai Qing" series continuing to attract viewers, while "Chong Fan Qing Chun" features a cast of well-known actors in a unique setting [7][10] - "Jiang Hu Ye Yu Shi Nian Deng" and "Mei Guo Zong Zhi" are set to premiere soon, with both expected to contribute to the festive viewing experience [15][17] Group 3: Future Prospects - Upcoming dramas include "Chun Zhen Nian Dai De Ai Qing," which is set to premiere on February 21, focusing on a romantic story set in the late 1970s [10][11] - Other anticipated releases include "Sui Yue You Qing Shi" and "Hao Hao De Shi Guang," which explore themes of youth and family dynamics, respectively [11][13] - Overall, the long drama segment for the 2026 Spring Festival is expected to remain subdued, with a possibility of unexpected hits emerging [19]

自AI技术进入影视领域以来，圈内可谓每天都迎来一次"震动"，而Seedance 2.0大模型的问世，再度掀起轩然大波。 新模型上线后，海量用户第一时间上手体验，有人称它为"视频界的Nano Banana Pro"，也有人认为它已超越Sora 2。网友纷纷将自己的创意"投喂"给AI， 惊喜地发现生成效果远超预期。威尔·史密斯诡异吃面条的时代已成为过去，随之而来的，是人人可独立制作精品的极致生产力。 然而，技术革新带来的震动远不止"喜悦"。过去，许多人认为AI将最先冲击工业人工劳动力，没想到率先步入"蒸汽时代"的，反而是影视行业。 有人将Seedance 2.0的迭代视为机遇，也有不少人深陷恐慌与焦虑。技术更新催生出多元化声音，为此，骨朵分别与由传统影视美术转型为AI内容创作者 的吴磊、从长剧编剧转型为AI动画导演的哈尼，以及一位传统影视行业的导演兼编剧小花（化名），聊了聊他们的看法。 史诗级更新来了？ 几天前，吴磊正在制作一部国潮风格的春节祝福短片。Seedance 2.0上线后，他抱着试试看的心态，将已经完成的图片输入新模型，没有附加任何提示 词。结果令他惊讶：模型仅通过图片中人物的服饰与姿势，便完美演绎出正 ...

Core Insights - The luxury car market in China is experiencing a significant contraction, affecting major players like Porsche, BMW, Mercedes-Benz, and Audi (collectively known as BBA) [1][3] - BBA's sales in China have declined sharply, with a total drop of approximately 260,000 units, representing a 12.3% decrease year-on-year [3][5] - The market dynamics are shifting, with domestic brands increasingly challenging BBA's dominance, leading to a re-evaluation of the luxury car segment [3][12] Group 1: Market Performance - In 2025, BBA's sales in China fell significantly, with Audi selling 1.623 million units (down 2.9%), Mercedes-Benz 2.16 million units (down 10%), and BMW 2.463 million units (up 0.5%) [5][6] - The decline in the Chinese market for BBA was more pronounced than the global average, indicating a critical shift in their traditional profit center [5][6] - The share of BBA in the Chinese luxury car market has decreased from 80% to around 50%, highlighting a significant loss of market dominance [8][12] Group 2: Structural Changes - The luxury car market is undergoing structural changes, with a notable shift towards lower-priced vehicles, as evidenced by the market share of models priced above 400,000 yuan dropping from 6.3% to 5.2% [12][14] - Consumer preferences are evolving, with a growing inclination towards value-oriented and technologically advanced vehicles from domestic brands, impacting BBA's sales [12][14] - The competitive landscape is intensifying, with new entrants and established domestic brands like BYD and NIO gaining traction in the luxury segment [12][14] Group 3: Strategic Responses - BMW's recent price cuts signal a shift in strategy, moving from maintaining brand premium to aggressively pursuing market share [17][19] - BBA is planning a series of new product launches in 2026, with Mercedes-Benz set to introduce over 15 new and updated models, while BMW aims to release more than 20 new vehicles [19][21] - The year 2026 is viewed as a critical period for BBA to regain market footing and respond to the evolving competitive landscape [21][22]

足球和股市都是圆的 我之前有一篇文章《防守反击：普通人投资理财的唯一正确姿势》，认为非专业的散户应该尽可能采用足球中经典的防守反击战术，还有一篇文章《赢家 的诅咒：为什么冠军基金总在第二年崩盘？》，认为足球比赛的运气成分是球类比赛中最高的，这是它成为最受欢迎的运动的原因之一，无独有偶，股市 投资的结果中运气成分占比也相当，短线单次投资更是如此，这同样是专业性很强的股市能吸引小白投资者参与的重要原因之一。 写这两篇文章的时候，我发现足球与投资的共同点实在是太多了，干脆专门再写一篇，通过对比足球这个比较纯粹的运动的某些特点，帮助我们更好的破 开笼罩在投资理财活动上空的迷雾。 上一篇文章中我认为，足球非常受欢迎，跟它进球少有很大的关系，那么问题来了，足球为什么是进球最少的运动之一呢？ 首先，球门相对于巨大的足球场而言，实在是太小了，导致能够有效射门的区域占比很小，先要想办法把球输送到这个区域； 进攻过程中，长距离单刀赴会胜率极小，必须要团队配合，一个球从抢断、组织、传递、突破、传切到最后射门等多个环节，任何一个环节失败，整个进 攻就告终。 还有令人扫兴的越位规则，让进攻方球员没有办法蹲守在对方球门前等机会，只能通过 ...

作者 | 乔钰杰 编辑 | 袁斯来 硬氪获悉，女娲农业科技（深圳）有限公司（以下简称"女娲农业科技"）近日完成数千万元融资，投资 方为厦门国升基金。本轮融资将主要用于核心技术研发、产品工程化升级及规模化落地。 畜牧场景对机器人提出多重复杂要求：设备需长期耐受高湿、高腐蚀条件；地面常覆盖粪污与饲料残渣 混合物；场地内存在积水、斜坡、隔栅、缝隙等多种复杂结构；加之动物活动带来的空间动态变化，进 一步增加作业难度。此外，养殖清洁的目标不仅是表面洁净，更强调降低微生物与病原负荷。因此，在 清洁路径规划、消杀覆盖率以及作业可追溯性等方面，对机器人系统提出了更高标准。 围绕以上难点，女娲农业科技将AI能力深度嵌入产品体系。公司创始人罗浩在接受硬氪采访时介绍 称，AI能力在产品中主要承担两项功能：一是基于多模态感知，识别动物异常行为与健康状态，形成 风险预警与分级工单；二是对清洁与消杀任务进行智能调度与优化，使机器人在不同场景下持续迭代作 业模型。数据来源包括机器人传感系统与养殖端业务数据，并与养殖场SOP结合，在实际运行中不断优 化模型参数。 硬件层面，产品采用高转速无刷电机与定制结构设计，以适配高负载清洁与消杀工况。目 ...

编辑 | 袁斯来 MIMOSAR 高分宽幅成像示意图（图源/企业） 硬氪获悉，济南感知起源信息科技有限公司（下称"感知起源"）近日完成新一轮数千万元融资。本轮融资由山东财金领投，厦门高新创臻、苏州里奥未 来、济南财鑫股权投资共同参与。该笔融资后，感知起源完成其天使轮及天使+轮融资。公司累计融资额近亿元，资金用于首台套自研商业合成孔径雷达 （SAR）载荷的研发及入轨验证、更新型谱产品预研以及商业拓展工作。 济南感知起源成立于2023年，是专注于商业SAR载荷的制造商。公司创始人、董事长兼总师马兵强博士，中科院空天院（原中科院电子所）SAR系统及信 号处理专业博士，具备多年大型雷达系统项目研发与交付经验。联合创始人、总经理鞠在强博士，资深商业航天从业者，国内首颗商业SAR卫星"海丝一 号"项目负责人，拥有丰富的商业航天项目管理与产业协同经验。 区别于光学类遥感卫星需要在白天光照充足且无云雾天气下才能对地观测的特点，SAR卫星是一种主动微波遥感卫星，具备全天时、全天候观测能力，可 以在夜晚或恶劣天气条件下执行对地观测任务，因此成为目标检测及灾害应急等遥感应用与服务不可或缺的技术手段。SAR载荷作为SAR卫星的核心分 ...

一年前，我写过一篇文章 这11种得天独厚的能力，说明你与众不同，分享了一些不容易被注意，但却 非常独特而有用的能力。 许多读者在后台反映，问能不能再更新一期。 所以，这是这个主题的第二期推送。我想跟你分享 9 种小众而厉害的能力，不妨看一看，自己符合多少 条。 还是那句话：每个人都是独一无二的。我们并不需要非得把自己放进某种世俗的框架和标准体系里。一 旦跳出优绩主义的狭隘框架，用更多元的视野来看待自己，你身上的这些才能，便会熠熠生辉。 希望这篇文章，能帮你更好地了解自己。 1. 能快速恢复能量条 我们做事情，多多少少都会受到状态的影响。状态高涨时，我们会充满动力，热情十足；但状态低落 时，就很容易心不在焉，无精打采，只能发挥出平时一半不到的实力。 有些人虽然很聪明、能力很强，但有一个弱点，就是「能量条」很短，很容易用光。用光之后，就容易 萎靡不振，需要比较长的时间才能恢复过来。这其实会十分制约他们的发挥和表现。 所以，如果你总是能够很快恢复能量，从低谷中振作起来，这意味着你有非常强的续航能力。 从大脑的角度来说，这可能意味着：你的多巴胺奖赏回路更健康。你的阈值并没有被这个信息爆炸的时 代拉得很高，依然可以比较 ...

Core Insights - The AI industry is experiencing rapid changes and intense competition, with leading companies facing the risk of losing their advantages within months [6][30] - Demis Hassabis, CEO of Google DeepMind, emphasizes the importance of continuous innovation and the need for companies to adapt quickly to maintain their positions in the market [4][10] Group 1: Competition and Industry Dynamics - The competition in the AI sector is accelerating, with model updates shifting from annual to quarterly releases, indicating a race for technological advancement [7][9] - Companies are facing a significant bottleneck in computing power, which is essential for developing stronger models and deploying products effectively [10][11] - The demand for computing resources has transformed budget priorities from purchasing servers to securing computational resources [11][12] Group 2: Talent Acquisition and Retention - The AI industry is witnessing unprecedented salary offers, with reports of researchers receiving offers as high as $100 million [14] - However, Hassabis believes that attracting top talent relies more on the mission and impact of the work rather than just financial incentives [15] - The evolving job landscape will require individuals to enhance their core competencies as traditional roles may disappear [16] Group 3: Technological Advancements and Opportunities - Hassabis identifies three key technological paths that are transitioning from concept to reality: multimodal assistants, AI drug design, and breakthroughs in new materials [17][18] - Multimodal assistants aim to enhance AI's ability to understand and interact with the real world, moving beyond simple query responses [19][20] - AI's role in drug design can significantly reduce the time required for drug development from years to months, enabling breakthroughs in treating diseases [23] - The establishment of automated laboratories for material research will facilitate rapid iterations and innovations in various industries [25] Group 4: Market Trends and Future Outlook - The industry is currently experiencing a phase of "shuffling," where companies will be tested, and only those demonstrating real commercial value will survive [29][30] - There is a notable divergence in strategies, with Chinese teams focusing on application deployment while Western teams prioritize frontier breakthroughs [33] - The future of the industry will depend on the ability to balance immediate cash flow from applications with long-term technological advancements [39][40]