Key Points - The article discusses various developments in the technology and automotive sectors, highlighting significant corporate changes, product launches, and market strategies [4][6][7][8][12][21][45]. Group 1: Corporate Changes - Amperex Technology Limited (ATL), a supplier for Romoss, has undergone significant executive changes amid quality issues with battery cells, with the company stating these changes are normal [4]. - Li Auto's product line head publicly offered double salaries to attract talent from NIO's subsidiary, highlighting the competitive nature of talent acquisition in the automotive industry [6]. - SenseTime is establishing an independent embodied intelligence company, indicating a strategic shift towards AI and robotics [7]. - Xiaopeng Motors is actively recruiting for its robotics team, with a notable addition from ByteDance, reflecting the growing focus on robotics within the company [11]. Group 2: Product Developments - The article mentions that Huawei's QianKun ADS is currently regarded as the best in auxiliary driving systems, showcasing the competitive landscape in smart driving technology [8]. - Xiaomi's SU7 has achieved a remarkable one-year resale value of 88.91%, surpassing Tesla's Model 3 and Model Y, indicating a shift in consumer perception and market dynamics [12][13]. - Taobao has launched a Thai version of its app, which has seen a significant increase in new users, demonstrating the platform's expansion strategy in Southeast Asia [9]. - The upcoming Huawei Mate 80 series is set to feature a top-tier 50MP camera sensor, enhancing its competitive edge in the smartphone market [24]. Group 3: Market Strategies - JD.com has initiated a 10 billion yuan cash recruitment plan for "dish partners," aiming to establish 10,000 "Seven Fresh Kitchens" within three years, indicating aggressive expansion in the food service sector [15]. - Meituan's "Pinh Hao Fan" initiative aims to onboard 10,000 well-known restaurant brands, reflecting a strategy to enhance its market presence and order volume [16]. - BYD's luxury brand Yangwang is set to enter the European market, targeting high-end segments and aiming to reshape perceptions of Chinese automotive brands [45].

Core Viewpoint - The Huazhang Hang Seng Internet Technology ETF (QDII) reported a net asset value of 805 million yuan for Q2 2025, with a quarterly net value growth of -1.31% [1]. Performance Summary - The fund achieved a net value growth of 44.2% over the past year, ranking 76 out of 371 similar funds, while the median growth for similar funds was 18.07% [1]. - The maximum drawdown over the past year was -26.16%, and the maximum drawdown since inception was -40.32% [1]. Fund Size and Asset Allocation - The fund's size in Q2 2025 was 805 million yuan, an increase of 4.49 million yuan from the previous period, reflecting a 0.56% quarter-on-quarter change [4]. - The latest asset allocation showed that stocks accounted for 90.58% of the net value, with no bond assets and cash making up 7.1% [4]. Top Holdings - The top ten stock positions accounted for 78.12% of the fund's holdings, with Kuaishou-W (01024) being the largest holding at 11.92% [4][5]. - Other significant holdings included NetEase-S (11.04%), Tencent Holdings (10.29%), JD Group-SW (10.27%), and Alibaba-SW (9.95%) [5]. Fund Management - The current fund manager, Ni Bin, has been in charge for approximately 6 years and has achieved a cumulative return of 5.78% since taking over on January 17, 2023 [5]. - The fund manager oversees 29 fund products, with the best-performing fund this quarter being the Huazhang Hang Seng Biotechnology Index Initiated (QDII) A, which had a quarterly net value growth of 17.42% [5]. Market Context - The fund manager noted that despite a complex domestic and international environment, the Chinese economy showed resilience and steady growth, with improving profit growth for Hong Kong-listed companies [7]. - The report highlighted that southbound capital continued to flow into the market, and the Federal Reserve's interest rate cut cycle provided a favorable environment for Hong Kong stocks [7].

Core Insights - The trend of embodied intelligence is gaining momentum, with major AI companies, including SenseTime, actively entering the field [2][6] - SenseTime is forming a core team for its embodied intelligence initiative, recruiting talent from the smart driving and computer vision sectors [6] - The upcoming 2025 World Artificial Intelligence Conference (WAIC) will see SenseTime launch its embodied intelligence platform, integrating perception, visual navigation, and multimodal interaction capabilities [6] Group 1 - SenseTime's strategic move into embodied intelligence is a natural extension of its visual technology expertise, transitioning from "understanding the world" to "modifying the world" [6] - The global focus on embodied intelligence is expected to intensify by 2025, with advancements from companies like Google's Gemini Robotics and Figure AI's Helix model showcasing significant capabilities [6] - Domestic internet giants are also making strides in this area, with JD.com investing in leading companies in embodied intelligence and Meituan leading investments in multiple projects [7] Group 2 - Ant Group has established a subsidiary, Ant Lingbo Technology, dedicated to embodied intelligence, indicating strong interest from major players [7] - According to research from Galaxy Securities, the global embodied intelligence industry is poised for accelerated growth by 2025, driven by leading companies and active investment activities [7] - The industry is witnessing a surge in strategic collaborations and production plans, with a high level of enthusiasm and application in various scenarios [7]

中国基金报记者 赵心怡 【导读】商汤科技计划进军具身智能领域，团队正在组建 具身智能热度持续升温，AI巨头争相入局！ 7月22日，记者从 业内 了解到，商汤科技正计划进军具身智能领域，其核心团队已经初步组建完毕， 并正在业内"招贤纳士" 。 据接近该 业务 的消息人士透露， 有部分团队成员来自此前的智能驾驶业务领域，还有一些是计算机视觉领域的研究人员和机器人领域从 业者。 上述人士进一步表示，现在许多智能驾驶的人才都在涌向具身智能。 具身智能与自动驾驶技术均依赖于与环境的交互，通过利用大量传感 器数据来感知外部信息，实时构建环境模型。 记者还了解到，在即将到来的2025世界人工智能大会（WAIC）上， 商汤将发布 具身智能平台 ，集成感知、视觉导航及多模态交互能 力，旨在为机器人、智能设备等多种智能终端提供强大赋能。 事实上，商汤布局具身智能早已有迹可循。今年4月， 在商汤科技 " 2025技术交流日 " 上，商汤科技与松应科技完成战略合作签约，未来 双方将围绕具身智能数据仿真、研发管线及客户服务展开深度合作，加速具身智能技术的规模化落地。 《中国基金报》对本平台所刊载的原创内容享有著作权，未经授权禁止转载， ...

Core Insights - Xu Bing, co-founder of SenseTime, has established a new GPU chip company named Xiwang, marking a strategic shift for SenseTime as it focuses on AI chip development [2][3] - Xiwang aims to serve as the computational foundation within the SenseTime ecosystem, emphasizing the importance of self-sufficient computing power in the era of AGI [2][12] - The company has secured nearly 1 billion yuan in its first round of financing, with notable investors including SANY Group and other established firms [2][11] Company Strategy - The establishment of Xiwang is part of SenseTime's "1+X" strategy, which involves restructuring to create independent entities focused on various emerging business areas [9][10] - SenseTime's AI chip development has a long history, with efforts dating back to 2018 aimed at reducing reliance on foreign chip manufacturers [6][12] - The new structure allows for more agile decision-making and financing opportunities for the independent entities within the ecosystem [9][10] Leadership and Team - Xu Bing has transitioned from his role at SenseTime to lead Xiwang as its chairman, focusing on strategic development and company culture [3][8] - The core team from SenseTime's chip division has been integrated into Xiwang, ensuring continuity and expertise in chip development [8][12] Market Context - The Chinese GPU market is characterized by high costs and challenges in profitability, yet interest in AI chip development remains strong [2][12] - The domestic AI chip market is expected to grow significantly, with projections indicating a 30% penetration rate for local brands by 2024 [20] Technological Development - Xiwang has achieved 100% independent intellectual property rights in its GPGPU technology, which includes the entire stack from instruction set definition to compiler toolchain [20] - SenseTime has developed several AI chips, including the S1 and S2, with the S3 chip expected to significantly reduce inference costs [16][20]

Group 1 - The "Shanghai Summer" international consumption season has led to the opening of 16 new stores in the Port City Square, enhancing the vibrancy and diversity of the area around Dishui Lake [1] - Port City Square serves as the core carrier of the Dishui Lake AI Innovation Port, attracting over 200 innovative enterprises and more than 3,000 tech talents in fields such as smart chips and autonomous driving [1] - The area has seen the establishment of high-energy projects like the "Digital Nomad Community" by leading 3D digital asset company Wansheng Huatai, along with other digital transformation service platforms [1] Group 2 - The Port City Square has experienced a significant increase in foot traffic, surpassing 2.7 million visitors and generating over 40 million yuan in revenue in the first half of the year [2] - The newly opened specialty street has gathered over 50 brands, including national and local first stores, contributing to the formation of an innovative industrial ecosystem that integrates technology, culture, and commerce [2] - The "Port City Square Summer Carnival" series of events will continue throughout the summer, featuring various interactive experiences and performances to engage the community [2]

Core Insights - The WAIC 2025 Large Model Forum will officially open on July 27 in Shanghai, aiming to drive innovation and accelerate the transformation of production power across various industries [1] - The forum will serve as a global platform for top researchers and technology experts to discuss the evolution of large models and their commercial applications [2] - Key topics will include the collaboration and ecosystem construction of domestic heterogeneous computing power, as well as breakthroughs in embodied world models [3] Group 1: Forum Objectives and Themes - The forum aims to gather global wisdom and leverage Shanghai's strategic position in large model technology to foster innovation [1] - It will focus on the construction logic, collaboration paradigms, and development bottlenecks of the large model industry ecosystem [2] - Discussions will also cover international collaboration opportunities in AI, including technology standards, ethical governance, and talent cultivation [4] Group 2: Key Participants and Contributions - Notable participants include representatives from leading AI companies such as SenseTime, NVIDIA, and various top universities [2][3] - The forum will feature keynote speeches from prominent figures, including the president of Nanyang Technological University and executives from major companies like Kingsoft and Xiaomi [6][7] - Insights from industry leaders will provide valuable, replicable blueprints for intelligent transformation across various sectors [4]

Group 1 - The article highlights the growing interest of AI companies in Guangxi due to its unique geographical advantages and resources, including a rich supply of ASEAN language data and talent [2][12][11] - Companies like iFlytek and SenseTime are planning to establish AI-related projects in Guangxi, focusing on building a multilingual data platform and a smart computing center [2][4][11] - The article emphasizes the importance of creating a favorable business environment in Guangxi, drawing lessons from Zhejiang's approach of "no disturbance unless necessary" to enhance government support for enterprises [6][7][11] Group 2 - The global AI market is projected to reach 2.3 trillion yuan by 2025, with the China-ASEAN AI market expected to exceed 450 billion yuan, indicating significant growth potential [15] - The article discusses the necessity for AI companies to have a safe and supportive development environment, with Shanghai's regulatory innovations serving as a model for Guangxi [10][8][9] - Guangxi aims to leverage its advantages in renewable energy, computing power, and data storage to become a hub for AI innovation and collaboration with ASEAN countries [13][12][11] Group 3 - The article stresses the need for practical application scenarios to facilitate the deployment of AI technologies, with examples from other regions like Jiangsu and Anhui showcasing successful models [16][15][14] - Talent development is identified as a critical factor for the advancement of AI, with calls for strengthening training and collaboration in AI education, particularly targeting ASEAN countries [18][17]

Core Viewpoint - The 2025 World Artificial Intelligence Conference (WAIC) will be held in Shanghai from July 26 to July 28, focusing on AI infrastructure, intelligent terminals, and AI-enabled new industrialization among other key areas [1][2]. Group 1: Event Overview - The WAIC will feature an unprecedented exhibition scale, with over 70,000 square meters of exhibition space and participation from more than 800 companies, over 50% of which are from outside China [1]. - The event will showcase over 3,000 cutting-edge exhibits, including 40 large models, 50 AI terminal products, and 60 intelligent robots, marking the largest scale in the history of the conference [1]. Group 2: Product Launches and Innovations - The conference will highlight innovative products in three main areas: model applications, embodied intelligence, and smart hardware, with numerous first-time launches [2]. - Notable product launches include Siemens' Industrial Copilot, Tesla's Tesla Bot, and various AI applications from major companies like Google, Alibaba, and Tencent [2]. Group 3: Industry Insights - Analysts from Dongwu Securities and Guojin Securities indicate that AI applications are experiencing rapid growth, with significant cost reductions and increasing penetration rates, suggesting a transition into a fast growth phase for the industry [3][4]. - The emergence of AI Agents is seen as a pivotal moment in the software revolution, reshaping various aspects of work and life [4]. Group 4: Company Developments - Baidu has announced the open-sourcing of its Wenxin large model series, marking a significant advancement in the large model field [5]. - Alibaba is collaborating with China FAW to develop a dedicated large model for the automotive industry, aiming to enhance efficiency and drive business transformation [5]. - SenseTime plans to launch its new productivity tools and an embodied intelligence platform during the conference [5]. Group 5: Market Predictions - Horizon Robotics is projected to achieve a compound annual growth rate of 57.5% from 2025 to 2027, with expectations of reaching breakeven by 2028 [6]. - The company is anticipated to capture 54% of the market share for advanced driver-assistance systems (ADAS) in China by 2027, leveraging local automotive chip advantages [6].

Core Insights - The World Artificial Intelligence Conference (WAIC) 2025 will focus on the integration of AI in the cultural and entertainment industries, addressing challenges such as content homogenization, copyright issues, and ethical concerns surrounding virtual interactions [3][4][5]. Group 1: Event Overview - WAIC 2025 will take place from July 26 to July 28, 2025, at the Shanghai World Expo Center, featuring forums and exhibitions dedicated to AI's role in arts and entertainment [3]. - The event aims to explore solutions and future prospects for AI in various sectors, including art, tourism, gaming, and media [4]. Group 2: Key Topics - Discussions will include technical solutions and legal frameworks for AIGC content copyright, ethical boundaries and commercialization models for virtual human interactions, and the development path of AI machine vision aesthetics [5]. - The event will also address the collaborative growth model between artistic intelligence and AI, focusing on interactive audio therapy and the construction of world IP in the context of Chinese themes [6]. Group 3: Featured Sessions - A session on AI music therapy will showcase the integration of AI and acoustic technology, aiming to promote the industrial transformation of AI music therapy for healthcare and mental wellness [7]. - Another session will analyze the current state and trends of the "AI + cultural tourism" industry, exploring new paths and opportunities for intelligent and personalized development [8]. Group 4: Participating Organizations - The event will involve cultural institutions such as the Shanghai Municipal Bureau of Culture and Tourism and various media outlets, alongside renowned companies like Microsoft, Alibaba, and Tencent [9][10][11]. - International academic institutions and research organizations, including King's College London and the European Academy, will also participate [12]. Group 5: Notable Guests - The conference will feature prominent figures such as Joanna Zylinska from King's College London and other influential artists and scholars from various countries [14]. Group 6: Exhibition Highlights - WAIC 2025 will showcase over 40 companies and more than 100 innovative products in a 70,000 square meter exhibition area, highlighting the deep integration of AI with cultural and digital entertainment [16]. - Notable exhibits will include the Nuwaai digital human platform and various AI and AR glasses, showcasing advancements in user experience and technology [17][19][21][25]. Group 7: Publication Launch - The conference will also introduce the first issue of "WAIC UP!", a guide aimed at exploring the potential of AI and its impact on future civilization [29].