以下文章来源于36氪研究院 ，作者36氪研究院 硬件迭代加速， 人形机器人蓄力规模突破。 来源｜ 36氪研究院（ID：kr_research） 封面来源 ｜ IC photo 当前，在政策引领、技术突破与市场需求的共振驱动下 ， 中国具身智能产业 正 迈入快速发展 的 新阶段 。 在此背景下， 资本市场 布局也日益活跃。 公开资料数据显示， 2025年前11个月具身智能产业融资额达到334.73亿元，是2024年同期的4倍；截至2025年 12月21日，全年融资事件超305起，总额超过380亿元，参与的投资机构数量超过600家 。 资本的密集涌入，充分印证了产业发展 的 潜力与市场信心 。这种信心，根植于社会经济发展中持续涌现的明确而迫切的替代需求。 36氪研究院 . 专注于一二级市场及新经济领域的研究与咨询 随着人口老龄化加剧与劳动力结构性短缺等问题持续凸显，社会对能够替代人工、承担高风险任务并提升产线效率的智能化解决方案需求日益迫切。传统 自动化设备受限于固定场景与预设程序，难以适应柔性制造、人机协作等动态复杂环境，产业升级面临核心瓶颈。为突破这一局限， 以人形机器人为代 表的具身智能正在加速演进，逐步形 ...

以下文章来源于董车会 ，作者关注明日出行的 造车新时代，明日出行家 董车会 . Model S 和 Model X两款车型 即将在2026年第二季度停产。 文 ｜ 芥 末 来源｜ 董车会 （ID：Time2Drive） 封面来源 ｜ Unsplash 马斯克刚刚在特斯拉财报会议上宣布，Model S和Model X两款车型即将在2026年第二季度停产。 这两款曾经引领全球汽车工业电动化浪潮的旗舰车型,在发布十多年后即将谢幕。 Model S于2012年首次发布，Model X紧随其后于2015年问世。 在那个燃油车仍占据绝对主导地位的年代，这两款车以科幻般的设计和出色的性能震撼了整个汽车行业，让人们第一次真正相信电动车可以成为豪华车的 未来。 然而时过境迁，曾经的先驱者如今还是走到了终点。 马斯克表示， 取消车辆项目的原因是要为特斯拉弗里蒙特工厂腾出空间，用于生产其Optimus人形机器人。 现在是时候以光荣退役的方式结束Model S和X项目了，因为我们真正迈向了一个基于自主权的未来，所以如果你有兴趣买Model S和X，现在是下单的好 时机。 尽管特斯拉在这十多年间多次为Model S/X更新内饰、动力总 ...

Core Viewpoint - The next stage of charging technology focuses on extreme performance and intelligence, moving beyond mere specifications to enhance overall user experience in real-world scenarios [2][50]. Group 1: Industry Trends - The consumer electronics industry has entered a subtle phase where product specifications alone are insufficient to drive purchases, as users prioritize stable and coherent experiences over peak performance metrics [3][4]. - Charging devices, as essential infrastructure for multiple devices, are increasingly evaluated based on their stability and collaborative capabilities under various usage scenarios [5][6]. Group 2: Product Innovation - Anker has introduced the Anker Prime Smart Display Pro 160W charger, which aims to integrate engineering standards typically found in industrial devices into consumer products, enhancing stability in complex usage scenarios [7][19]. - The Anker Prime Smart Display Pro is characterized by high power output, multiple fast charging ports, and compact design, meeting consumer expectations for high-end chargers [10][19]. Group 3: User Experience - User feedback highlights that the charger is not only powerful but also maintains stable performance without overheating, addressing a long-standing gap in the market for reliable high-load charging experiences [11][18]. - The charger has been recognized as a "graduation-level" product, emphasizing its practical benefits over mere specifications [12][18]. Group 4: Engineering Challenges - The current high-power charger market relies heavily on parameter competition, often neglecting the importance of sustained performance under multi-device conditions, leading to a focus on short-term peak performance [18][24]. - Anker's approach to the engineering challenges involves a comprehensive optimization of power management systems, utilizing advanced technologies like multi-level DC-DC architecture and high-frequency collaborative management [28][30]. Group 5: Research and Development - Anker's R&D investment reached 1.195 billion yuan in the first half of 2025, a 49.35% increase year-on-year, with a total of nearly 3 billion yuan invested over the past three years [32]. - The company has also secured 306 new patent authorizations in 2025, reflecting its commitment to innovation in the charging and power management sector [32]. Group 6: Future Directions - The evolution of charging technology is moving towards integrating intelligence into devices, allowing for better management and understanding of power distribution and thermal conditions [43][50]. - Anker aims to merge extreme performance with deep intelligence, positioning itself to meet the demands of the next phase in consumer electronics [50].

以下文章来源于酷玩实验室 ，作者酷玩实验室 酷玩实验室 . 关注中国科技发展与产业升级！ 焚烧技术太先进了。 来源｜ 酷玩实验室（ID：coollabs） 封面来源 ｜ Unsplash 挖 垃圾祖 坟 封场20年的祖传垃圾山，最近要被彻底 "挖祖坟" 了。 位于深圳罗湖的"玉龙填埋场"，是深圳最早的简易生活垃圾填埋场，建于1983年，1997年停用，2005年底实施封场，总堆填垃圾约250万立方米，足以填满 1000个国际标准泳池。 这封场20年可不是装了20年，而是距离"装满"都过了如此之久。 450万吨垃圾 如今玉龙填埋场不仅位于城市核心地带，其潜在的臭气、渗滤液、地下水污染以及地质灾害风险等问题也很突出。 为了环保处理这座巨型垃圾山，整体清运过程像是在"剥洋葱"： 渣土经检测合格后外运；建筑垃圾综合利用；生活垃圾经筛分后，轻质物进入龙岗能源生态园进行焚烧发电，腐殖土进入下坪环境园填埋，无 机骨料综合利用，库底污染土进入稳定化处理车间，经检测合格后外运。 作为目前全国体量最大、全量开挖的垃圾搬迁治理工程，现场每天将筛分6000吨、约460车垃圾进行资源化处理。 在完成处理后，当地将释放近30万平方米的土 ...

Core Viewpoint - The iPhone 17 series has achieved unprecedented sales success, significantly boosting Apple's revenue and stock price, despite challenges from rising memory costs and supply chain constraints [6][9][10]. Group 1: Financial Performance - In Q4 2025, Apple's revenue reached $143.76 billion, a 16% year-over-year increase, marking a historical high; net profit was $42.10 billion, also up 16%; gross margin rose to an unprecedented 48.2% [6]. - iPhone sales revenue surged by 23% to $85.27 billion, exceeding market expectations and setting a new quarterly record [8]. - The active iPhone user base reached a historical high of 2.5 billion units, with record numbers of users upgrading or switching to new iPhones in various regions [15]. Group 2: Challenges and Concerns - Despite strong iPhone sales, rising memory prices pose a significant challenge, leading to market pessimism and a recent decline in Apple's stock price [10][16]. - Apple's CFO indicated that memory procurement negotiations have shifted to quarterly discussions, with expected price increases of up to 100% for LPDDR memory used in iPhones [18]. - Tim Cook expressed uncertainty about potential price increases for iPhones due to rising memory costs, emphasizing the need for careful evaluation of the situation [19][21]. Group 3: Other Business Segments - Apple's services business reached $30.01 billion in revenue, growing 14% year-over-year, becoming a significant revenue pillar outside of iPhone sales [26][32]. - The Mac business saw a revenue decline of 7% to $8.39 billion, while iPad revenue increased by 6% to $8.60 billion, driven by seasonal demand [32]. - Wearables and accessories revenue fell by 2% to $11.49 billion, attributed to supply chain limitations affecting new product launches [32]. Group 4: Future Outlook and AI Developments - Apple is expected to maintain strong iPhone demand in the upcoming quarters, with potential new models like the iPhone 18 and a foldable iPhone on the horizon [44]. - The company is investing heavily in AI, including a $2 billion acquisition of Israeli AI startup Q.ai, aiming to enhance user interaction with devices [51][53]. - Apple's collaboration with Google on AI development for Siri indicates a strategic focus on integrating advanced technologies while maintaining privacy standards [37][41].

以下文章来源于暗涌Waves ，作者暗涌Waves 暗涌Waves . 钱的流向，人的沉浮。36氪旗下投资报道账号。 "打捞那些在半山腰跌落的人。" 文 ｜ 李苏 编辑 ｜ 陈之琰 来源｜ 暗涌Waves（ID：waves36kr） 封面来源 ｜ IC Photo 当2025年的资本市场在二级市场的回暖与IPO的零星开闸中透出久违的红火时，悬在很多创始人头上的回购之剑被选择性地遮蔽了。然而，众人的危机不 会因极少数的幸运而改变，涉及回购的深层影响并没有因此而消失。近期，一位律师告诉"暗涌Waves"：一级市场大量硬科技公司的"对赌清算"已至临界 点。 最现实的问题是：钱拿不回来。 正带着所有人滑向深渊：一边是GP为了规避责任而不得不进行的法理逼债；另一边，则是超过80%背负个人连带责任的创始人，正面临着从商业失败升 级为"人生清算"的信誉与资产双重破产。 当股权投资因为高度个人化的责任绑定，而显现出一种极为矛盾的"准债权"属性时，叶语选择在律师的身份外叠加一重"回购顾问"的角色，换个姿势去承 接失败。 绝大多数创始人只要没有职务侵占，他们拿到的融资早就在过去几年里烧进了研发、厂房和工资里。当投资人主张数亿的回 ...

Core Viewpoint - The article discusses the emerging trend of foreign patients seeking medical treatment in China, highlighting the efficiency, affordability, and quality of healthcare services available, while also addressing concerns about potential impacts on domestic healthcare resources [4][9][30]. Group 1: Trends in Cross-Border Medical Services - Since the end of 2024, there has been a notable increase in foreign patients traveling to China for medical care, with a reported 45.6% growth in foreign patient visits at Zhejiang University School of Medicine's affiliated hospital [8][9]. - Social media discussions around "China health care" have gained traction, showcasing the affordability and efficiency of medical services in China compared to Western countries [6][8]. - The trend is characterized by a mix of "experience-type" patients seeking traditional Chinese medicine and serious medical cases, with the latter increasingly considering China for complex treatments [35][37]. Group 2: Factors Driving Foreign Patients to China - Key factors attracting foreign patients include the efficiency of the healthcare system, lower costs, and advancements in medical technology [22][27]. - In China, the centralized healthcare structure allows for quicker access to services, contrasting with the longer wait times often experienced in Western countries [24][26]. - The expansion of visa-free policies has facilitated easier access for foreign patients, allowing them to seek medical care during their visits [27][28]. Group 3: Impact on Domestic Healthcare Resources - Concerns about foreign patients occupying domestic healthcare resources are nuanced; many hospitals have separate international departments that do not compete directly with local patients [39][41]. - The presence of foreign patients can provide additional revenue for hospitals, enhancing their operational capabilities without detracting from local care [41][42]. - The article emphasizes the importance of managing how foreign patients access the healthcare system to prevent potential resource strain [42]. Group 4: Challenges Faced by Foreign Patients - Foreign patients often encounter language barriers and unfamiliar processes when seeking medical care in China, which can complicate their experience [44][46]. - The differences in medical decision-making and patient-doctor communication styles can lead to misunderstandings regarding treatment options and risks [49][50]. - Despite these challenges, many foreign patients report positive experiences, highlighting the need for improved support systems, such as translation services [47][56].

Group 1 - The core viewpoint of the article emphasizes that the China Railway Group has declared the 12306 platform as the only official ticket sales channel, stating that it has not partnered with any third-party platforms and will enhance its system to combat ticket scalping [2][3] - The China Railway Group's passenger department director, Zhu Wenzhong, highlighted the negative impact of third-party platforms on the stability of the 12306 system and announced plans to optimize the risk control system for effective identification [3] - The railway authority is focusing on four key areas for ticket sales organization: addressing the needs of students, workers, and the elderly; introducing a limited-time free refund policy for erroneous purchases; continuously improving ticket sales strategies; and ensuring the stable operation of the 12306 system [5] Group 2 - The article mentions that the 2026 Spring Festival travel period is expected to see a record 9.5 billion person-times of cross-regional movement, with self-driving travel being the main mode of transport, accounting for about 80% [6] - The article also notes that the total passenger volume for railways and civil aviation is projected to reach 540 million and 95 million respectively during the Spring Festival travel period, with both figures expected to exceed historical peaks [6]

以下文章来源于硬氪 ，作者乔钰杰 行业仍存在广阔的人工替代空间。 文 ｜ 乔钰杰 编辑 ｜ 袁斯来 来源｜ 硬氪（ID：south_36kr） 封面来源 ｜ 企业供图 硬氪获悉，上海希夕智能科技有限责任公司（SUNSEED，以下简称"希夕智能"）近日完成数千万元天使轮融资。本轮融资领投方为宁波北仑商贸物流投资 集团，跟投方为荣成荣鑫基金和盛景嘉成。我们总结了本轮融资信息和该公司几大亮点： 融资金额及投资机构 硬氪 . 专注全球化、硬科技报道。36kr旗下官方账号。 融资轮次： 天使轮 融资金额： 数千万元 投资机构： 宁波北仑商贸物流投资集团领投，荣成荣鑫基金和盛景嘉成跟投 资金用途： 研发投入、产品迭代与业务推广 公司基本信息 成立时间： 2022年 公司总部： 上海市闵行区 技术亮点： 希夕智能由新希望智能设备制造有限公司、通用智能机器人头部独角兽企业非夕科技，以及初创合伙人团队联合创立。 希夕智能专注于将AI与柔性机器人技术结合，面向切割、加工、内包等食品生产环节，提供专业灵活的全栈式柔性食品加工解决方案。公司核心产品通用食 品加工单站，通过AI视觉系统识别与建模来料，结合智能决策系统推理生成个性化加工 ...

Core Viewpoint - LVMH is attempting to revitalize Givenchy through strategic management changes and increased investment in its beauty segment, while facing challenges in the fashion line and competition from other luxury brands [4][8][21]. Group 1: Management Changes - LVMH appointed Amandine Ohayon as the new CEO of Givenchy, replacing Alessandro Valent, who served for only 18 months [6][24]. - Mark Shorten, the former president of LOEWE in Greater China, will take on the role of global sales president at Givenchy by the end of 2025, indicating a strategy to utilize successful management talent from within LVMH [7]. - The frequent changes in leadership at Givenchy reflect LVMH's urgency to reshape the brand and its direction [23]. Group 2: Financial Performance - In 2025, LVMH's revenue reached €80.8 billion, a 5% decline year-on-year, with the fashion and leather goods segment experiencing an 8% drop [10][11]. - The fashion and leather goods segment's organic growth was down 5%, while the perfume and cosmetics segment remained stable [10][12]. - Givenchy's fashion line is currently estimated to generate around €1 billion, which limits its ability to compete for resources within LVMH [18]. Group 3: Brand Strategy and Market Position - Givenchy is struggling to establish a strong market presence compared to other second-tier brands like CELINE and LOEWE, which have successfully transformed their brand image and sales [20][21]. - The brand's beauty segment, including successful products like its powder and fragrances, is seen as a potential growth engine, contrasting with the underperformance of its fashion line [16][22]. - Givenchy's marketing efforts are heavily focused on its creative director Sarah Burton's fashion shows, while the beauty line has seen more diverse promotional activities [18]. Group 4: Competitive Landscape - CELINE and LOEWE have emerged as leaders in the second tier of luxury brands, with CELINE's sales reportedly surpassing €2.5 billion in 2023 due to its successful rebranding efforts [20]. - LOEWE has consistently ranked high in global brand popularity, leveraging its strong visual identity and collaborations with artists [20]. - Givenchy's attempts to appeal to younger consumers through streetwear have not been successful, leading to a decline in brand relevance [21].