Core Viewpoint - The company emphasizes providing actionable and clear investment ideas through independent research, aiming to help members outperform the S&P 500 and mitigate significant losses during market volatility [1] Group 1 - The service offers at least one in-depth article per week focused on investment strategies [1] - The company claims to have a proven method that has successfully assisted members in navigating both equity and bond market fluctuations [1]

Core Viewpoint - The company is positioning itself as a technology firm focused on exploring future mobility solutions, emphasizing the integration of hardware and software in the automotive industry [2][3][5]. Group 1: Vision and Strategy - The founder believes that the future of mobility involves not just cars but also flying vehicles and humanoid robots, viewing cars as "four-wheeled robots" [3][5]. - The company aims to expand its product offerings beyond traditional vehicles, with a focus on family-oriented designs and smart technology [11][14]. - The founder asserts that the integration of AI will lead to a transformation in the industry that is significantly greater than the shift from feature phones to smartphones [5][45]. Group 2: Product Development - The company is targeting the MPV market, which is expected to grow due to increasing demand for family-oriented vehicles [12][14]. - Plans for a humanoid robot are set for mass production by 2026, with the founder acknowledging the challenges in developing such technology [17][20]. - The company is also working on flying cars, with a vision of expanding the living radius to 150 kilometers, enhancing urban mobility [24][26]. Group 3: Globalization - Global expansion is viewed as essential for the company's survival, with a goal of achieving 50% of sales from international markets within the next decade [29][30]. - The founder emphasizes that globalization is not merely a strategic choice but a fundamental aspect of the company's DNA [29][30]. Group 4: Competition and Industry Dynamics - The company welcomes competition, viewing it as a natural part of the industry, and believes that collaboration among peers can lead to orderly competition [33][34]. - The founder expresses confidence that many domestic companies have a higher probability of succeeding in the global market compared to foreign firms [44]. Group 5: Future Outlook - The founder predicts that in the next decade, the number of strong automotive manufacturers in China may reduce to five, indicating a consolidation in the industry [43]. - The company is committed to leveraging AI to enhance its products and services, anticipating significant advancements in autonomous driving capabilities [45].

Core Insights - The unveiling of XPeng's humanoid robot Iron has sparked widespread debate about its authenticity, with many questioning whether it is a real robot or a human in disguise [1][2] - XPeng's CEO, He Xiaopeng, demonstrated Iron's capabilities, including its flexible skin and advanced mechanics, aiming to dispel doubts about the robot's identity [1][2] - The humanoid robot market is rapidly expanding, with approximately 18 automotive companies entering the field, driven by technological synergies and commercial motivations [4][6] Technical Features - Iron features 82 degrees of freedom, allowing it to perform complex movements like a model walk, significantly surpassing the 19 degrees of freedom of a previously showcased robot [2][3] - The robot is equipped with three Turing AI chips, providing a processing power of 2250 TOPS, and utilizes a self-developed physical world model for enhanced multi-modal coordination [3][6] - The design of Iron incorporates a bionic spine and flexible skin, contributing to its human-like movement and appearance [2][3] Industry Trends - The automotive industry is increasingly investing in humanoid robots as a means to leverage existing technologies from electric vehicles, with cost advantages estimated to be 30%-50% lower than tech companies [6][8] - The competition in the electric vehicle market has intensified, prompting companies to explore new narratives, with humanoid robots seen as a more imaginative venture [8][10] - The commercialization of humanoid robots is expected to progress faster than that of autonomous driving, due to more controllable environments and lower risks [8][10] Strategic Implications - Automotive companies are not just creating robots for novelty; they aim to reshape a new intelligent ecosystem that integrates vehicles, robots, and energy systems [10][11] - Companies like Tesla and XPeng envision their robots as extensions of AI ecosystems, with applications in various sectors including manufacturing and home assistance [11][12] - The development of humanoid robots is viewed as a competition for energy efficiency, with the potential for solid-state batteries to enhance the capabilities of these robots [11][12]

以下文章来源于高工产研 ，作者GGII 高工产研 . | | | | 2025年10月新能源车销量&交付量排名 | | | | | --- | --- | --- | --- | --- | --- | --- | | 排名 | 品牌 | 10月销量 (辆) | 环比增速 | 同比增速 | 1-10月销量 (辆) | 同比增速 | | 1 | 比亚迪 | 441706 | 11.5% | -12.1% | 3701852 | 13.9% | | 2 | 零跑 | 70289 | 5.4% | 84.1% | 465805 | 120.7% | | 3 | 小鹏 | 42013 | 1.0% | 75.7% | 355209 | 190.0% | | 4 | 蔚来 | 40397 | 16.3% | 92.6% | 241618 | 41.9% | | 5 | 小米 | 40000+ | 0%+ | 100%+ | 290000+ | 283.2%+ | | ნ | 深蓝 | 36792 | 9.4% | 32.1% | 269058 | 57.1% | | 7 | 理想 | 31767 | -6.4% | - ...

1、中美经贸：中共中央政治局委员、国务院副总理何立峰11月12日晚在京会见美中关系全国委员会董 事会执行副主席格林伯格、会长欧伦斯。何立峰表示，中美在经贸领域拥有广阔合作空间，中美双方应 相向而行，共同维护好、落实好两国元首釜山会晤重要共识和成果，加强合作、管控分歧，推动中美经 贸关系稳定发展。 2、央行：中国人民银行召开党的二十届四中全会精神宣讲报告会，中央宣讲团成员，中国人民银行党 委书记、行长潘功胜作宣讲报告。潘功胜表示，完善中央银行制度是"十五五"时期推动金融高质量发 展、加快建设金融强国的战略举措。要构建科学稳健的货币政策体系，健全覆盖全面的宏观审慎管理体 系和系统性金融风险防范处置机制，持续深化金融供给侧结构性改革，稳步推进金融高水平开放，坚决 维护国家金融安全，为实现党中央确定的"十五五"目标任务贡献更大金融力量。 3、商务部：商务部11月12日消息，在第八届中国国际进口博览会期间，商务部副部长盛秋平在上海组 织召开外资零售企业座谈会，部分外资零售企业代表参加座谈交流。盛秋平表示，当前中国零售业规模 巨大、趋势向好、充满活力，行业发展处于快速变革期。欢迎广大外资零售企业来华发展。希望外资零 售企 ...

Core Insights - The article discusses the evolution of range-extended electric vehicles (REEVs) in the automotive industry, highlighting a shift from the initial focus on alleviating range anxiety to enhancing user experience through advanced technology integration [2][3][12] - The competition in the REEV market is now characterized by a deeper emphasis on technical capabilities, energy efficiency, and adaptability to various driving scenarios, rather than merely extending driving range [4][5][12] Summary by Sections First War vs. Second War - The first phase of the REEV market addressed the issue of range anxiety, providing consumers with a flexible solution that combined electric and fuel options, thus proving the viability of REEVs [3][12] - The second phase, marked by the entry of technology-driven companies, focuses on optimizing user experience and integrating advanced technologies into REEV systems [5][12] Technological Advancements - Companies like Xiaopeng and Leap Motor are now competing on the basis of their ability to balance integration, energy consumption, and spatial efficiency, moving beyond simple functionality [4][5] - The introduction of advanced materials and AI in control systems signifies a shift towards higher technical barriers in the REEV market, emphasizing the importance of R&D capabilities [5][12] Market Strategies - There is a notable divergence in technical strategies, with some companies opting for "large battery + small fuel tank" configurations aimed at urban users, while others prefer "large battery + large fuel tank" setups to cater to long-distance travel needs [6][7] - The strategic choice of configurations reflects a deeper understanding of user scenarios and market demands, particularly in international markets where charging infrastructure may be lacking [8][9] Global Expansion - Several Chinese brands view REEVs as a gateway to international markets, leveraging their unique features to address the challenges posed by inadequate charging facilities in many regions [9][12] - The article notes that while REEVs are perceived as a transitional technology in China, they offer a practical solution in diverse global markets, providing users with a "zero-anxiety" electric driving experience [9][12] Challenges Ahead - The article highlights potential challenges in the global expansion of REEVs, including consumer understanding, regulatory risks, and the need for localization in different markets [10][11] - Despite these challenges, the rise of REEVs represents a victory for practical solutions that meet the immediate needs of consumers, balancing the benefits of electric vehicles with the realities of current infrastructure [11][12]

转自：新华财经 数据显示，比亚迪、上汽集团、吉利汽车的10月新能源汽车销量分别为44.17万辆、20.67万辆、17.79万辆，位居前三。增速方面，北汽蓝谷同比增速超过100%，蔚来、小鹏汽车、吉利汽车 对比9月的销量同比增速，北汽蓝谷、蔚来、赛力斯的10月销量增速增加超过20个百分点，千里科技、长安汽车的10月销量增速下降超50个百分点。 比亚迪在2025年10月共销售44.17万辆整车，同比下降12.13%；年初至10月末，累计销售370.19万辆，同比增长13.88%。其中，纯电动、插电混动的前10月销量分别为182.85万辆、182 理想汽车2025年10月共销售3.18万辆整车，同比下降38.25%；年初至10月底，累计销量为32.89万辆，同比下降16.36%。 责任编辑：郝欣煜 上汽集团在2025年10月共销售45.4万辆整车，同比增速为12.96%，位居同类企业月销量第一。从旗下品牌来看，上汽大通、上汽通用销量增速达47.86%、46.66%；上汽正大、智己汽车的销 千里科技10月整车销量达8468辆，同比增长111.44%，连续3个月同比增速超过100%；新能源汽车销量达2090辆，同比增长 ...

编辑 | 量子位 来源 | 谁在带队小鹏机器人：IRON背后的四位关键人物 发布会一战封神、步伐魔性到一度被万人质疑是「真人扮演」的小鹏机器人「IRON」，其「皮套」之下—— 究竟是一 支怎样 的团队？ 挂一漏万，但量子位一通深挖后发现： 如今掌舵小鹏机器人业务的核心人物中，最为公众熟知的， 大约有四位 。 而这四位大佬的履历，也都是一路闪光—— 点击下方 卡片 ，关注" 自动驾驶之心 "公众号 戳我-> 领取 自动驾驶近30个 方向 学习 路线 >>自动驾驶前沿信息获取 → 自动驾驶之心知识星球 本文只做学术分享，如有侵权，联系删文 最近，米良川在Robox的采访中指出——IRON之所以能有如此惊艳的表现，离不开其独特的腰部设计。 新一代IRON其实做的不是「腰」，而是「脊柱」。 具体而言，团队这次依然是从人类的生物构造上获得的灵感，从脊柱、到肌肉群、再到腹腔、甚至最外层的皮肤，这一切都是仿人类设计的。 当然，听起来好像本就理所应当，但实际的训练过程还是相当地狱的。 事实上，就在八个月前，IRON还远远没有像发布会上一样的超拟态猫女步伐，这一能力，几乎是在3月份的某天，一夜涌现出来的。 可就在3月的一个晚上 ...

截至11月12日收盘，道指涨0.68%续创收盘新高，纳指则收跌0.26%，标普500指数涨0.06%。 个股方面，银行股普涨，高盛涨超3%，花旗、摩根士丹利涨超2%。大型科技股涨跌不一，AMD涨9%，甲骨文跌超3%，特斯拉跌超2%。 中概股方面，纳斯达克中国金龙指数收跌1.46%。小鹏汽车、蔚来、爱奇艺、百度跌超2%，理想汽车、阿里巴巴、京东跌超1%。 美股三大指数走势分化。黄金大涨。美联储降息，传出大消息。 白宫国家经济委员会主任凯文·哈塞特在谈到美联储主席人选时表示，如果特朗普邀请，他会出任。 关于降息，美联储多数地方联储票委对12月降息并不积极。博斯蒂克周三表示支持将利率保持原状，直至通胀降至2%的水平。波士顿联储行长柯林斯也 表示倾向于维持利率不变以抑制通胀。 "美联储传声筒"Nick Timiraos表示，目前已有四位拥有投票权的地方联储主席（波士顿联储柯林斯、圣路易斯联储穆萨莱姆、芝加哥联储古尔斯比，以及 曾在10月降息决议中投反对票的堪萨斯联储施密德）并未积极推动在12月再次降息。 另外，美国白宫新闻秘书卡罗琳·莱维特表示，美国政府长时间的停摆可能导致不会发布10月失业率和消费者价格指数报告。 ...

转自：新华财经 新华财经北京11月13日电 近期，汽车制造厂商陆续披露10月销售数据。新华财经和面包财经研究员以A、H股上市的主要汽车厂商披露的月度销售数据公 告，分别统计其整车、新能源汽车的销量。 根据公告数据整理，A、H股上市公司中有20家汽车制造厂商披露了10月份的月度销售数据。2025年10月，20家公司合计销售整车231.66万辆，同比上升 8.82%。相比于9月，北汽蓝谷、蔚来、江淮汽车等企业10月销量增速明显加快；千里科技、金龙汽车、宇通客车等企业的10月增速则有所放缓。 此外，有16家公司披露了新能源汽车（包括乘用车、商用车）的销量数据，10月合计销售新能源汽车约130.78万辆，同比上升15.63%，当月新能源汽车渗透 率约达57.48%。其中，比亚迪、上汽集团、吉利汽车的销量居前，北汽蓝谷、蔚来、小鹏汽车、吉利汽车增速超过50%，理想汽车、比亚迪销量同比出现下 滑。 整车月销同比上涨超8% 上汽集团、比亚迪月销超40万辆 2025年10月，20家A、H股上市车企合计实现整车销量231.66万辆，同比上升8.82%，环比增长5.97%。 图1：沪港深上市汽车公司整车销量 数据显示，10月，上 ...