"就像一个靠谱的'陪驾教练'，如遇到情况你没反应或反应慢了，它会立刻帮你踩刹车、稳方向，把车 安全地停到路边。"梁锋华说，企业将L3级自动驾驶系统的安全要求设定为人类驾驶员安全水平的数十 倍。试点车型不仅能应对"鬼探头"、紧急加塞、道路施工、雨雾天气等复杂场景，还搭载了微碰传感 器，能够有效地规避二次碰撞伤害。 12月20日，全国首块L3级自动驾驶专用正式号牌"渝AD0001Z"在重庆诞生，并由重庆市公安局交通管 理总队正式授予长安汽车。这标志着我国自动驾驶开启"合规商用"新阶段，宣告中国自动驾驶技术正式 进入L3时代。 长安汽车工程师为科技日报记者演示了开启L3级自动驾驶的情况。在行驶中，系统识别到可用路段 后，通过语音提示、经驾驶员确认即可激活。开启自动驾驶后，驾驶员双手可脱离方向盘，面对路面的 红绿灯、相邻车道加塞、前车突然刹停的情况，系统都能灵活应对，犹如一名"老司机"。 在遇到一些超过系统设计运行条件的特殊情况时，系统会及时提醒驾驶员接管。如果超过时间没有动 作，系统也会根据"判断"进行操作，确保安全。 从"紧握方向盘"到有条件"脱眼脱手"，L3级自动驾驶汽车上路有何特殊之处？普通消费者能否购买？对 ...

Market Overview - The Hong Kong stock market is currently digesting negative factors, including the U.S. non-farm payroll data and Japan's central bank raising its benchmark interest rate from 0.50% to 0.75%, the highest in 30 years, leading to a rebound in the market [1] - The upcoming Western Christmas holiday is expected to limit negative market disturbances, while the selection of the Federal Reserve Chairman may provide a positive boost to the market [1] Investment Opportunities - China Shenhua is planning to acquire assets from the State Energy Group and its wholly-owned subsidiary, Western Energy, for a transaction price of 133.598 billion [1] - The acquisition will involve issuing shares to raise funds, which may exert pressure on market liquidity and dilute equity [1] Industry Trends - The market is witnessing a diversification of hot topics, indicating a warming sentiment [2] - The Ministry of Commerce is focusing on boosting consumption and encouraging cultural enterprises to expand globally, particularly in sectors like animation and online gaming [2] - SpaceX is in talks with banks regarding an IPO, with Morgan Stanley as a leading candidate, highlighting the growing interest in commercial space travel [2] - The introduction of L3-level autonomous driving in China is marked by the issuance of the first dedicated license plate for such vehicles, indicating a significant advancement in the automotive industry [5] Company Developments - Minhua Holdings announced the acquisition of the U.S. brand and manufacturer Gainline for $32 million, which is expected to enhance its global supply chain and competitiveness [3] - The acquired company has a projected revenue of $188 million for FY25, despite a net loss of $9.6867 million, indicating potential for future profitability through cost synergies [3] - Minhua's dividend payout ratio remains at 50%, with a dividend yield of 6.2%, providing a solid margin of safety [4] Autonomous Driving and Technology - The automotive industry is set to grow significantly, with a target of 32.3 million vehicle sales in 2025, including 15.5 million electric vehicles, reflecting a 20% year-on-year increase [6] - The penetration rate of L2-level and above autonomous driving features in passenger vehicles is expected to rise from 51% at the end of 2024 to 59% in the first half of 2025 [6] - Companies involved in autonomous driving technology, such as Horizon Robotics and Black Sesame Intelligence, are expected to benefit from the increasing demand for smart driving solutions [7] Market Sentiment - The Hang Seng Index is currently positioned at 25,691 points, with a bullish sentiment expected despite concerns over potential financial crises due to rising interest rates in Japan and the U.S. [8] - Historical data shows an 80% probability of the Hang Seng Index rising during the Christmas to Spring Festival period, with a median increase of 4.7% [9]

Core Viewpoint - The issuance of the first L3 level autonomous driving dedicated license plate "渝AD0001Z" in Chongqing marks a significant milestone for Changan Automobile, indicating the company's leadership in the domestic L3 autonomous driving era [1] Group 1 - The license plate was officially granted by the Chongqing Municipal Public Security Bureau Traffic Management Division [1] - Changan's L3 level autonomous driving system has completed over 5 million kilometers of real road testing in Chongqing [1]

Macroeconomic News - The State Council, led by Premier Li Qiang, held a meeting to implement the decisions from the Central Economic Work Conference [1] - The National Development and Reform Commission, along with other agencies, established rules for pricing behavior on internet platforms, emphasizing that platform operators must not engage in unfair pricing practices [1] - The Ministry of Commerce emphasized the need to boost consumption and expand the supply of quality goods and services [1] Industry News - The first L3-level autonomous driving license plate was issued in Chongqing, marking the beginning of the L3 autonomous driving era for Changan Automobile [2] - The second Future Sports Games took place in Abu Dhabi, where a robot designed by a Chinese club won the championship in a combat robot competition [2] - The Shanxi provincial government announced the repeal of a ban on the production and sale of fireworks, with the China Fireworks Association supporting the adjustment of related policies [2] - The "2025 World Trade Report" predicts that with appropriate policies, AI could increase cross-border trade by 34% to 37% and global GDP by 12% to 13% by 2040 [2] - The animation film box office in China surpassed 25 billion in 2025, marking the highest year in the history of Chinese animated films [2] Company News - China Shenhua announced plans to acquire assets from its controlling shareholder, the State Energy Investment Group, for a total transaction price of approximately 133.598 billion [6] - MiniMax, a general artificial intelligence technology company, has passed the hearing for its IPO on the Hong Kong Stock Exchange [6] - Beijing Zhiyuan Huazhang Technology updated its hearing materials, indicating that its IPO on the Hong Kong Stock Exchange has been officially approved [7] - Moole Technology held its first "MUSA Developer Conference," where it introduced its new generation of GPU architecture [7] - Guo Xiang Technology announced plans to acquire at least 60% of Liaojing Electronics, leading to a suspension of its stock [8] - *ST Dongyi announced that its restructuring plan has been approved by the Beijing First Intermediate People's Court [8] - Shangfeng Cement's subsidiary's IPO application has been accepted by the Shenzhen Stock Exchange [8] - *ST Mingjia completed a capital reserve transfer to increase its total share capital to 1.426 billion shares [9] - Biran Technology plans to issue H-shares on the Hong Kong Stock Exchange, with a pricing range between 17 to 19.6 HKD per share [9]

Group 1 - ByteDance announced the release of the Doubao large model 1.8 and the Seedance 1.5 Pro video generation model, entering the "multimodal agent" field, with enterprise users able to access it via Volcano Engine API starting December 23 [2] - Changan Automobile received the first L3-level autonomous driving license in China, marking the country's advancement in commercializing autonomous driving [2] - Moore Threads unveiled its new GPU architecture "Huagang" at the MUSA Developer Conference, boasting a 50% increase in computing power density and a 10-fold efficiency improvement [3] Group 2 - SoftBank Group is working to finalize a $22.5 billion investment in OpenAI by year-end, potentially using its stake in Arm as collateral [3] - Guizhou Bailing faced penalties totaling 25.6 million yuan due to false records in multiple annual reports, with its stock being suspended and then marked as ST [5] - Alibaba's DingTalk initiated a secret project "D Plan" to enter the AI hardware market, speculated to launch smart hardware products [5] Group 3 - OpenAI improved its "compute margin" to 70% as of October, significantly up from 52% at the end of 2024 [8] - Nike projected a low single-digit revenue decline for Q3, reflecting weak consumer demand and increased market competition [8] - Tesla's CEO Elon Musk had a legal victory restoring his $55-56 billion compensation plan, which may impact the company's governance structure [8] Group 4 - Samsung Electronics launched the world's first 2nm mobile application processor Exynos 2600, with AI computing power increased by 113% compared to the previous generation [10] - Toyota launched the new Levin L and Corolla models, with prices starting at 129,800 yuan and 99,000 yuan respectively, while also expanding its hydrogen network in California [10] - Mitsubishi UFJ Financial Group acquired a 20% stake in Shriram Finance, part of a broader trend of mergers and acquisitions in Japan [10] Group 5 - BMW Group opened a battery recycling center in Bavaria, capable of processing several tons annually, utilizing innovative direct recycling technology [14] - LVMH continued to invest in high-end beauty brands to strengthen its competitive position in the beauty market [14] - Swedish Stegra's green steel plant project has surpassed 50% installation progress of its electrolyzers, aiming for production in 2026 [14]

Group 1 - China Shenhua announced a merger and acquisition plan exceeding 130 billion yuan, intending to purchase stakes in China Energy Group and Guoyuan Power, along with other equity acquisitions [2][7] - The A-share market is seeing active mergers and acquisitions, with 32 listed companies disclosing restructuring progress this week [2][7] - Former Chongqing Mayor Huang Qifan predicts that the RMB exchange rate against the USD may rise to around 6:1 in the next decade, which could enhance trade balance and economic development [2][7] Group 2 - CITIC Securities highlights increasing factors for RMB appreciation, suggesting investors adapt their asset allocation accordingly, with about 19% of industries potentially benefiting from improved profit margins due to currency appreciation [2][7] - Shanxi Province has lifted the ban on fireworks, transitioning from a complete ban to scientific restrictions, which may stimulate industry growth and related consumption [3][8] - Seven chief strategists from major brokerages forecast a likely upward trend for A-shares and Hong Kong stocks in 2026, driven by technology and overseas expansion [3][8] Group 3 - The lithium battery industry is experiencing positive developments, with Shengxin Lithium Energy signing a framework agreement for lithium salt product supply worth over 20 billion yuan from 2026 to 2030 [3][8] - Tianqi Lithium's third-phase chemical-grade lithium concentrate expansion project is set to reach an annual capacity of 2.14 million tons, ensuring raw material supply [3][8] - Three new stocks will be available for subscription next week, covering tourism, new materials, and optical communication sectors [3][8] Group 4 - Several central banks, including those of Russia, the UK, Mexico, and Chile, have announced interest rate cuts, leading to a rise in gold and silver prices, with silver reaching a historic high of over 67 USD per ounce [4][9][10] - The first L3-level autonomous driving special license plate has been issued to Changan Automobile, marking a shift from technology validation to mass production application [4][10]

Group 1: Market Trends and Investment Opportunities - Recent preparations by professional investors for year-end market trends have been noted, with public funds conducting intensive research on companies such as Zhongke Shuguang, Haiguang Information, Luxshare Precision, Changan Automobile, and others, primarily in the manufacturing sector [1] - Institutions believe that the recent market adjustment will provide better investment opportunities for the upcoming year, with structural market trends making certain underperforming sectors more attractive [1] - Analysts from Penghua Fund and Xingzheng Global Fund express optimism about advanced manufacturing, cyclical stocks, and high-performing non-bank stocks, indicating that the upward market trend remains intact despite short-term fluctuations [1] Group 2: Sector-Specific Insights - The lithium battery industry is expected to maintain high demand due to the growth in electric vehicle sales and unexpected storage needs, leading to improved profitability across the supply chain [2] - The innovative drug sector in Hong Kong remains a focus for institutions, with a positive outlook on the industry’s fundamentals and the ongoing trend of innovative drugs going global, which is expected to enhance the upstream supply chain's performance [2] - The commercial aerospace and satellite industry is transitioning from speculative hype to a fundamentals-driven phase, with investment opportunities emerging across the supply chain, particularly in rocket and satellite manufacturing and related applications [3]

New Car Launches - Hongqi HS6 PHEV launched with a price range of 178,800 to 228,800 yuan, featuring a family design style and dimensions of 4925/1970/1740mm [3][4][6] - Ora 5 launched with a price range of 99,800 to 133,800 yuan, offering five models and a limited-time trade-in subsidy of 8,000 yuan [15][16][18] - Ford Mustang Mach-E launched with a price range of 229,800 to 282,800 yuan, available in both pure electric and range-extended versions [24][25][27] Company Developments - BYD's 15 millionth new energy vehicle rolled off the production line, achieving this milestone in 17 years, with the last 5 million produced in just 13 months [65][66][70] - Honda plans to suspend or reduce production at its factories in Japan and China due to semiconductor shortages [71][72][75] - Lantu Motors and CATL signed a ten-year deepening cooperation agreement to advance battery technology [76][77] - GAC Group announced the establishment of a new business unit combining its high-end brand Haobo and mass-market brand Aion for better resource synergy [80][81] - Li Auto is establishing an AI R&D center in Silicon Valley, focusing on smart driving technology [82][85] Industry News - The Ministry of Industry and Information Technology (MIIT) has issued new regulations limiting hidden door handles in vehicles, effective from January 1, 2027 [98][99][102] - The European Union has decided to relax its 2035 ban on internal combustion engines, allowing plug-in hybrid vehicles to continue being sold [103][105][107] - Japan plans to impose a weight-based tax on electric vehicles starting May 2028, with tax rates increasing based on vehicle weight [108][110][112]

Investment Rating - The report maintains a "Recommended" rating for the humanoid robot sector and the automotive industry [2][12]. Core Insights - The humanoid robot industry is accelerating from technology development to large-scale commercial application, with significant order growth from leading manufacturers [7]. - The first batch of L3 autonomous driving vehicles has received approval for conditional market entry, marking a critical step towards commercialization in China [10]. - The overall order volume for humanoid robots in 2025 is projected to exceed 30,000 units, with leading companies like UBTECH and UTree capturing significant market shares [6]. Summary by Sections Humanoid Robot Sector Market Performance - The Huaxin humanoid robot index fell by 1.47% this week, with a year-to-date return of 88.8% [21]. - The total order value for leading companies in the humanoid robot sector has surpassed 5 billion, with UBTECH's Walker series accounting for 1.3 billion [6][4]. Automotive Sector Market Performance and Valuation - The CITIC automotive index increased by 0.1%, outperforming the broader market by 0.4 percentage points [37]. - The automotive sector's PE ratio is at 31.8, positioned at the 36.4% percentile over the past four years, while the PB ratio is at 3.0, at the 96.3% percentile [54]. Industry Data Tracking - From December 1-14, the average daily retail of passenger vehicles in China decreased by 24% year-on-year, with total retail reaching 76.4 million units [60]. - The average price of rubber has increased, while prices for steel, copper, and aluminum have decreased [67]. Company Announcements - UBTECH has secured a strategic partnership with Texas Instruments, with total orders exceeding 1.3 billion [5]. - Moulding Technology has signed a procurement framework agreement for humanoid robot components, marking a significant step into the humanoid robot industry [74].

据新华社报道，12月20日，国内首块L3级自动驾驶专用正式号牌"渝AD0001Z"在重庆诞生，由重庆市 公安局交通管理总队正式授予长安汽车，标志着长安汽车在国内率先开启L3级自动驾驶时代。 果然财经 |划时代！ 国内首块L3级自动驾驶专用正式号牌诞生 大众报业·齐鲁壹点15:48 果然财经 |划时代！ 国内首块L3级自动驾驶专用正式号牌诞生 热门评论我要评论 微信扫码 移动端评论 暂无评论 鲁ICP备15022957号-13 鲁公网安备 37010202002220号 鲁新网备案号201000101 电信增值业务许可证： 鲁B2-20120085 齐鲁晚报·齐鲁壹点 版权所有(C) All Rights Reserved 联系电话：0531-82625462邮箱： 1790179766@qq.com ...