午后市场情绪回升，港股三大指数再度冲高，恒生科技指数一度涨至2%，最终收涨1.45%重回5600点上方，恒生指数涨0.68%报25935点，国企指数涨0.86% 报9106点。 | 代码 | 名称 | | 最新价 | 涨跌额 | 涨跌幅 | | --- | --- | --- | --- | --- | --- | | 800000 | 恒生指数 | @ | 25935.90 | +175.17 | 0.68% | | 800100 | 国正指数 | | 9106.48 | +77.93 | 0.86% | | 800700 | 恒生科技指数 | | 5615.43 | +80.51 | 1.45% | | 行业热力图 ▼ | 领涨板块 | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | | | 汽车 | 地产发展商 | 药品 +1.18% | 服装 +0.50% | 互动 + | | | 银行 +0.74% | 线上零售商 +0.74% | 电讯服务 +0.02% | +0.56% | +0.14% | ...

金吾财讯 | 机器人概念多数高开，三花智控(02050)涨5.67%，越疆(02432)涨4.06%，优必选(09880)涨 2.47%，地平线机器人(09660)涨1.94%。 特斯拉美股隔夜收涨4.08%。特朗普政府据报拟出台政策，以推动AI机器人技术发展。 美国商务部发言人表示，当局致力于发展机器人技术和先进制造业，这对于推动关键生产重返美国至关 重要。消息称，交通部也计划宣布成立机器人工作小组，可能在年底前出台新措施。 金吾财讯 | 机器人概念多数高开，三花智控(02050)涨5.67%，越疆(02432)涨4.06%，优必选(09880)涨 2.47%，地平线机器人(09660)涨1.94%。 特斯拉美股隔夜收涨4.08%。特朗普政府据报拟出台政策，以推动AI机器人技术发展。 美国商务部发言人表示，当局致力于发展机器人技术和先进制造业，这对于推动关键生产重返美国至关 重要。消息称，交通部也计划宣布成立机器人工作小组，可能在年底前出台新措施。 ...

Core Viewpoint - The report from China Merchants Securities International indicates that the decline in sales for some Chinese automakers in November was expected, and it suggests forward-looking investments in quality stocks [1] Group 1: Automotive Manufacturers - Recommended stock: Geely Automobile (00175), expected to launch around 10 new models next year, driving domestic sales while maintaining high export growth [1] - Other recommended stocks include BYD Company (01211) and Xpeng Motors-W (09868) [1] Group 2: Auto Parts Manufacturers - Recommended stock: Mindray Group (00425), due to its entry into humanoid robots and low-altitude economy sectors, opening new market opportunities [1] - Another recommended stock is Fuyao Glass (03606), noted for its strong position in the industry chain and steady growth [1] Group 3: Robotics and Autonomous Driving - The report highlights a general decline in stock prices for companies in the robotics and autonomous driving sectors, influenced by the broader AI industry [1] - Long-term outlook remains positive for AI combined with automotive and robotics sectors, with recommendations for companies such as UBTECH Robotics (09880), Horizon Robotics-W (09660), Hesai Technology-W (02525), and DeepGlint-W (02590) [1]

Core Viewpoint - The report from China Merchants Securities International indicates that the decline in sales for some Chinese automakers in November was expected, and it suggests forward-looking investments in quality stocks, particularly recommending Geely Automobile as a top pick for its anticipated new models and strong export growth [1] Group 1: Automotive Manufacturers - Geely Automobile (00175) is highlighted as a primary recommendation, with expectations of around 10 new models driving domestic sales and maintaining high export growth next year [1] - Other recommended stocks include BYD (002594) and Xpeng Motors-W (09868) [1] Group 2: Auto Parts and Components - The report recommends Minth Group (00425) for its entry into humanoid robots and low-altitude economy sectors, indicating new market opportunities [1] - Fuyao Glass (600660) (03606) is also recommended due to its strong positioning within the industry chain and stable growth prospects [1] Group 3: Robotics and Autonomous Driving - The report notes a general decline in stock prices for companies in the robotics and autonomous driving sectors, attributed to the broader AI industry trends [1] - Long-term prospects remain positive for AI applications in automotive and robotics, with recommendations for companies such as UBTECH Robotics (09880), Horizon Robotics-W (09660), Hesai Technology-W (02525), and DeepRobotics-W (02590) [1]

Group 1 - The core viewpoint of the article highlights the increasing governmental support for the robotics industry in the U.S., indicating a shift from private sector involvement to clear governmental backing, with potential executive orders expected next year [1] - The U.S. Department of Commerce emphasizes the importance of robotics and advanced manufacturing for bringing critical production back to the U.S., reflecting a strategic focus on the "reshoring" of manufacturing [1] - The article suggests that the robotics sector is becoming a key battleground for competition among major economies, following the trend set by artificial intelligence [1] Group 2 - The stock performance of various robotics-related companies shows significant gains, with 德昌电机控股 up 6.05% and 三花智控 up 5.67%, indicating strong market interest in this sector [2] - Year-to-date performance for these companies is notable, with 德昌电机控股 showing a 196.40% increase and 优必选 up 103.82%, reflecting robust investor confidence [2] - The overall market sentiment towards robotics stocks is positive, as indicated by the MACD golden cross signal formation, suggesting a continuation of upward momentum [2]

截至发稿，三花智控(02050.HK)涨5.67%、越疆(02432.HK)涨4.06%、优必选(09880.HK)涨2.47%、地平 线机器人-W(09660.HK)涨1.94%。 ...

Core Insights - Chery's Starway ET5 officially launched on November 28, featuring Horizon's HSD urban assisted driving system and the Journey 6P computing solution, marking the start of large-scale production for Horizon's HSD [1][2] Group 1: Product Launch and Technology - The Starway ET5 is the first vehicle globally to incorporate Horizon's HSD urban assisted driving system, which utilizes the Journey 6P chip and offers advantages such as low system latency, strong defensive driving capabilities, smooth control in both lateral and longitudinal directions, and continuous self-evolution [2] - Horizon has secured partnerships with over 10 automotive brands and more than 20 vehicle models for the HSD system, with notable models like Chery's Fengyun T9L and iCAR V27 showcased at the Guangzhou Auto Show [2] Group 2: Market Outlook and Financial Projections - The company anticipates significant growth in revenue, projecting operating income of 3.543 billion yuan, 6.010 billion yuan, and 8.007 billion yuan for 2025, 2026, and 2027 respectively, with corresponding net profits of -686.5 million yuan, -135.8 million yuan, and -82.3 million yuan [3] - The current price-to-sales (PS) ratios are estimated at 29.65 times, 17.48 times, and 13.12 times for the years 2025, 2026, and 2027 [3] Group 3: Strategic Partnerships and Global Expansion - The company is deepening ties with leading Tier 1 suppliers, aiming to gradually penetrate global markets, with Bosch's mid-level intelligent driving solution based on the Journey 6M already delivered at scale, and ZF planning to launch a coPILOT system based on the Journey 6P in China by 2026 [2] - The company’s subsidiary, Diguo Robotics, has launched the first integrated SoC computing kit RDK S100 in June and plans to release a high-performance platform RDK S600 (560 TOPS) in Q1 2026 [2]

摩根大通此前发布研报称，相信地平线机器人具竞争力的产品性能与定价策略，将有助公司持续扩大市 占率并驱动增长。此外，机器人产品线可带来增量营收并支撑长期增长。 该行预测公司2024至2027年 营收复合年增长率达56%，2028年将实现73%的年增长率，此趋势应能推动股价进一步上扬。 本文源自：智通财经网 智通财经获悉，地平线机器人-W(09660)午前涨超4%，截至发稿，涨3.7%，报7.84港元，成交额4.57亿 港元。 消息面上，11月13日，星途汽车旗下全新车型星途ET5正式开启预售，全球首搭地平线HSD城区辅助驾 驶系统与征程6P计算方案。地平线近期公布，HSD已获得国内外多达10家车企品牌，超20款车型的定 点合作。随着HSD首批合作车型的规模化量产，地平线也成为业界首家实现低、中、高全阶辅助驾驶量 产的智驾科技公司。 ...

摩根大通此前发布研报称，相信地平线机器人具竞争力的产品性能与定价策略，将有助公司持续扩大市 占率并驱动增长。此外，机器人产品线可带来增量营收并支撑长期增长。该行预测公司2024至2027年营 收复合年增长率达56%，2028年将实现73%的年增长率，此趋势应能推动股价进一步上扬。 地平线机器人-W(09660)午前涨超4%，截至发稿，涨3.7%，报7.84港元，成交额4.57亿港元。 消息面上，11月13日，星途汽车旗下全新车型星途ET5正式开启预售，全球首搭地平线HSD城区辅助驾 驶系统与征程6P计算方案。地平线近期公布，HSD已获得国内外多达10家车企品牌，超20款车型的定 点合作。随着HSD首批合作车型的规模化量产，地平线也成为业界首家实现低、中、高全阶辅助驾驶量 产的智驾科技公司。 ...

Core Viewpoint - Horizon Robotics-W (09660) has seen a stock price increase of over 4%, currently trading at 7.84 HKD with a transaction volume of 4.57 billion HKD, following the announcement of the new ET5 model from Xingtu Auto featuring Horizon's HSD urban driving assistance system [1] Group 1: Product Development and Partnerships - The new Xingtu ET5 model officially launched pre-sales on November 13, showcasing the world's first integration of Horizon's HSD urban driving assistance system and the Journey 6P computing solution [1] - Horizon Robotics has secured partnerships with over 10 automotive brands and more than 20 vehicle models for the HSD system, marking a significant milestone in the company's growth [1] - With the mass production of the first batch of HSD cooperative models, Horizon Robotics becomes the first company in the industry to achieve mass production across low, medium, and high-level driving assistance technologies [1] Group 2: Market Outlook and Financial Projections - JPMorgan has released a report indicating that Horizon Robotics' competitive product performance and pricing strategy will help the company continue to expand its market share and drive growth [1] - The firm forecasts a compound annual growth rate (CAGR) of 56% in revenue for Horizon Robotics from 2024 to 2027, with an expected annual growth rate of 73% by 2028, suggesting a positive trend that could further boost the stock price [1]