经济指标 美国8月非农就业人口变动 见闻财经日历 WSCN Economic Calendar 华尔街见闻 | 时间 | | 内容 | 预期 前值 | | | --- | --- | --- | --- | --- | | 9月1日 周一 | | | | | | 数据 | 09:45 | 中国 8月标普制造业PMI | | 49.5 | | 事件 | 00:00 | 由特朗普家族支持的去中心化金融项目，计划于9 | | | | | | 月1日正式启动其WLFI代币的公开交易 | | | | 9月2日 周二 | | | | | | 数据 | 22:00 | 美国 8月ISM制造业指数 | 48.8 | 48 | | 事件 | | 无 | | | | 财报 | | 蔚来 | | | | 9月3日 周三 | | | | | | 数据 | 16:00 | 欧元区 8月服务业PMI终值 | | 50.7 | | 事件 | 待定 | 天安门举行盛大阅兵 | | | | 9月4日 周四 | | | | | | 数据 | 22:00 | 美国 8月ISM非制造业指数 | 50.5 | 50.1 | | 事件 | 待定 | 美 ...

Core Viewpoint - NIO is transitioning from an idealistic approach to a more pragmatic strategy, acknowledging market realities and adjusting its pricing and product offerings accordingly [3][12][32] Group 1: Market Context - The automotive industry is facing significant challenges in 2025, including competition in smart and electric vehicles, price wars, and declining profits [5][6] - NIO is not the only company facing these challenges, but its situation is unique [6] Group 2: Product Launch and Strategy - NIO has launched the new ES8 at a starting price of 308,800 yuan, significantly lower than the previous model's price of over 400,000 yuan [9][10] - The new ES8 incorporates advanced technology and features, including a 900V high-voltage architecture, a 102kWh battery, and a peak power of 520kW, with a range of 635 kilometers [17] - NIO's founder, Li Bin, emphasizes that the new pricing strategy is a result of a more realistic approach to costs and competition [12][21] Group 3: Brand Positioning and Market Response - NIO aims to reaffirm its commitment to pure electric vehicles amidst a market shift towards hybrid models [14][18] - The company has shifted its focus to user needs and practical applications, moving away from its previous high-end positioning [20][32] - Initial market feedback indicates strong demand for the new ES8, with pre-orders exceeding expectations [23] Group 4: Long-term Vision and Challenges - NIO is committed to becoming a luxury brand in the electric vehicle market, despite past missteps in its approach to luxury [29][30] - The company has set a clear timeline for achieving profitability by Q4 2025, indicating a strategic shift towards sustainable operations [31][32] - NIO's long-term investments in technology and infrastructure are beginning to pay off, allowing for a more efficient product offering [27][28]

Core Viewpoint - The recent hiring of former NIO and Li Auto executive Li Jun by Faraday Future (FF) is seen as a strategic move to strengthen the company's supply chain and enhance its presence in both the Chinese and American automotive markets [1][11]. Group 1: Executive Appointment - Li Jun has joined FF as the Vice President of Global Supply Chain and Chief Strategy and Business Growth Officer for China, bringing nearly 20 years of experience in the automotive industry [4][10]. - His previous roles include significant positions at Delphi, Magna, and as a senior director at Li Auto and NIO, where he was instrumental in supply chain management [5][8][9]. Group 2: Strategic Initiatives - Li Jun's appointment is viewed as a key part of FF's "China-US Automotive Industry Bridge" strategy, which aims to connect the two markets and facilitate Chinese automakers' entry into the US market at lower costs [11][21]. - FF's recent collaboration with Great Wall Motors to secure authorization for the FX Super One vehicle is also a critical step in optimizing its supply chain [14][21]. Group 3: Product Development and Market Response - The FX Super One has received over 10,000 paid orders as of July 31, 2025, indicating strong market interest despite the company only delivering 18 vehicles since its inception [24]. - The vehicle's design has faced scrutiny for its similarities to Great Wall's models, raising questions about potential intellectual property issues [16][19]. Group 4: Financial Strategies - FF is also venturing into the cryptocurrency space, with plans to invest $500 million to $1 billion in major cryptocurrencies and launch the C10 Treasury fund, which aims for annual returns of $30 million to $50 million [25][27]. - The revenue generated from this fund is intended to support vehicle production, reinvest in the fund, and repurchase FF stock, reflecting a strategy to stabilize financial health [27][28].

智能方面，由蔚来自研的智驾芯片神玑NX9031与高通骁龙8295芯片组成中央计算平台，具有充沛的算力 和极高的集成度。AQUILA天鹰座蔚来超感系统则以31个高性能感知硬件构建360度全向感知，包含瞭望塔 式超远激光雷达、双侧广角激光雷达及4D成像雷达，形成350°激光环像感知，最大感知范围达40万平米， 实现更安全、更轻松的全场景智能驾驶体验。 动力方面，全新ES8搭载蔚来最新一代全域900V高压架构，标配102kWh电池，配合520kW前后双电机，峰 值扭矩700N·m，零百加速时间仅需3.97秒。全车122处空气动力学优化，风阻系数低至0.259，CLTC综合续 航里程达到635公里。且采用前后五连杆独立悬架，标配智能双腔空悬，提供100mm超大调节行程，迎宾 时，可在7秒内降低空悬50mm，提供媲美MPV的优雅进出体验。 作为蔚来12项全栈技术布局的最新成果，全新ES8将豪华体验打造至新高度。依托全球领先的智能电动汽 车技术及全国充换电网络，全新ES8将引领高端大三排SUV进入纯电时代，助力用户在全场景中从容进 阶，迈向成功新境。 车展前夕，全场景科技旗舰SUV——蔚来全新ES8正式发布并开启预售，从 ...

Core Insights - NIO's recent positive changes are attributed to sustained investments in pure electric technology and multi-brand strategies over the past three years, leading to a turning point in user experience [1] - The company has seen significant market performance, with its stock price increasing over 80% since July, regaining a market capitalization of over 100 billion [3][4] Group 1: Company Developments - NIO's L90 model achieved its first 10,000 deliveries at the Chengdu Auto Show, marking the fastest delivery milestone in the company's history for a model [1] - The new ES8 model has received better pre-order performance compared to the L90 since its pre-sale began on August 21 [1] - The company aims for profitability in Q4, despite skepticism from the market, with a focus on improving delivery capabilities and operational efficiency [5][6] Group 2: Market Performance - As of August 29, NIO's stock price reached 50.6 HKD, with a year-to-date increase of over 45% [4] - The company is transitioning from a period of low sales to a more favorable market response, particularly in the large SUV segment [5] Group 3: Strategic Focus - NIO emphasizes the importance of combining long-term strategies with short-term execution to enhance competitiveness [6] - The company is focused on improving operational efficiency, with a target of achieving 100 billion in revenue and realizing significant cost savings through efficiency improvements [6]

Core Viewpoint - The CEO of NIO, Li Bin, emphasized the necessity for the company to achieve profitability in Q4, relying on its own capabilities, following a period of strategic investment and organizational transformation [1][3]. Group 1: Strategic Shifts - The company believes it is at a turning point due to its sustained investment in pure electric technology and multi-brand strategy over the past three years, which is now translating into significant user experience advantages [1][3]. - The era of extended-range large SUVs is fading, while the era of pure electric large SUVs is emerging, validating the company's commitment to the correct technological path [3]. Group 2: Organizational Changes - NIO has initiated an organizational transformation based on the CBU (Core Business Unit) mechanism, aiming to evolve into a "fully operational organization" [3]. - Li Bin highlighted the importance of operational efficiency and cost control, citing Toyota as a model for the company to learn from [3]. Group 3: Profitability Goals - Initially, less than 1% of employees believed in the Q4 profitability target set at the beginning of the year, but the company now sees a significant challenge ahead [3]. - With the arrival of the pure electric turning point, the company believes it has the conditions to convert a decade of technological accumulation into market advantages [3]. Group 4: Product and Market Strategy - The company must maintain a long-term commitment to its technological route, ensure thorough product planning, and adapt product definitions to meet evolving user demands [3]. - Li Bin stated that as long as these principles are adhered to, the company should not fear any competition [3].

来源：滚动播报 今年一季度，蔚来销量下探、单季亏损创历史新高，舆论将其与 2019 年的生死关口相提并论。后来蔚 来创始人兼董事长和 CEO 李斌在内部提出目标，争取在今年四季度实现单季度盈利，并多个场合重申 这一目标，但信者寥寥。市场信心是在乐道 L90 上市后开始有了明显变化。这周乐道 L90 成为蔚来公 司历史上交付破万最快的车型。据蔚来联合创始人、总裁秦力洪称，全新 ES8 预售后的预订单表现， 好于同期的乐道 L90。而对于用户有关于定价的争议，李斌说知道对老车主的影响，但要做对整个蔚来 （更好）的事情，"把公司经营好是对用户最大的负责。"资本市场同步回暖。自 7 月 7 日 L90 预发布至 今，蔚来港股累计上涨近 90%，市值重返 "千亿元" 区间。"L90 和 ES8 上市战役让行业看到了不一样的 蔚来，我们并不是只能说一说长期主义，做不好短期执行，大家展现出了很好的执行力。"8 月 29 日， 李斌在公司内部一场时长约 90 分钟的全员讲话上表示。"2019 年我们走出谷底是靠用户，但这一次我 们想要从谷底走出来，必须要靠自己的本事。"（晚点） ...

智 / 享 / 未 / 来 向 / 新 / 而 / 行 2 0 25 齐鲁秋季车展 0:00 / 4:12 のみ味に国流電直 ll 智享 展位:5号馆ES5 车型:蔚来全新ES8 2025齐鲁秋季车展 暨第五十二届齐鲁汽车展览交易会 09/04 -09/08 地点:山东国际会展中心(槐荫区日照路1号) ...

Core Insights - NIO's sub-brand, Le Dao, achieved a significant milestone by delivering its 10,000th L90 SUV at the Chengdu International Auto Show, highlighting strong market demand and consumer interest [1][3] - The L90 has quickly entered the top three in large SUV sales within a month of its launch, showcasing its competitive pricing and advanced product features [3][5] - The L90 addresses common pain points in large three-row SUVs, such as space limitations and charging anxiety, by leveraging NIO's extensive battery swap network and electric vehicle technology [3][5] Product Features - The L90 seven-seat version was unveiled at the auto show, featuring a flexible seating arrangement that allows for easy access and ample storage space, catering to diverse family needs [5][8] - The starting price for the L90 seven-seat version is set at 271,800 yuan, with a battery-as-a-service (BaaS) option available from 185,800 yuan, filling a gap in the market for large seven-seat electric SUVs [5][8] - A new color option, "Night Purple," was introduced, showcasing innovative production techniques and offering customers a range of personalized configurations [7][8] Market Positioning - The L90 is positioned as a game-changer in the new energy vehicle market, complementing the recently launched NIO ES8 and together representing a strong technological innovation duo [8] - The L90's launch period benefits include exclusive offers valued at over 30,000 yuan for customers who place orders by August 31, 2025, enhancing its appeal in the competitive market [8]

Group 1 - Nvidia launched the NVIDIA Jetson Thor, a powerful chip designed for physical AI and humanoid robots, achieving an AI performance increase of 7.5 times to 2070 TFLOPS compared to the previous generation [1][2] - The new chip also boasts a 3.5 times improvement in energy efficiency and includes upgrades in storage and bandwidth, essential for real-time control in humanoid robots [1] - Nvidia is focusing on three types of computers for physical AI and robotics, including the NVIDIA DGX AI supercomputer for model training and the NVIDIA OVX for data generation and simulation testing [1] Group 2 - ChatGPT remains the top AI application globally, with competitors like Google's Gemini and xAI's Grok rapidly closing the gap [4][6] - The latest global AI rankings show that 22 out of the top 50 applications are from China, indicating a strong presence in the AI landscape [4] - The AI industry is entering a new phase of competition, with a diversification of players and applications [4] Group 3 - Cambricon Technologies has seen its stock price soar significantly, with a market value approaching Intel's, driven by the AI boom and a reported net profit exceeding 1 billion yuan in the first half of the year [6][8] - Despite its rapid growth, concerns remain about Cambricon's technological maturity and ability to compete with established players like Nvidia [6] Group 4 - NIO's ES8 model has faced significant price reductions, leading to backlash from existing owners who feel "betrayed" by the company's pricing strategy [8] - NIO's CEO acknowledged the need for lower prices to remain competitive in the market, emphasizing survival over customer sentiment [8] Group 5 - SpaceX successfully completed its tenth test flight of the Starship, demonstrating its capability to launch multiple satellites and perform engine re-ignition tests in space [10] - The Starship project has incurred significant costs, with total expenditures nearing 5 billion USD, but the recent successful flight marks a turning point for the program [10]