万亿美元级赛道，重要信号

Core Insights - The Robotaxi sector is experiencing accelerated commercialization, with significant revenue growth reported by various companies in the industry [1][2][3] Group 1: Company Performance - 如祺出行 reported a 61.7% year-on-year revenue increase to 1.676 billion yuan in the first half of 2025, with Robotaxi orders growing over 470% and monthly active users increasing by over 70% [1] - The company’s overall mobility service revenue grew by 86% to 1.636 billion yuan, which includes both ride-hailing and Robotaxi services [2] - 小马智行's Robotaxi revenue increased by 157.8% year-on-year to 10.9 million yuan in Q2 2025, driven by expanded user coverage and increased demand in first-tier cities [3] Group 2: Market Trends - The Robotaxi industry is predicted to enter a "explosion period," with Goldman Sachs forecasting the market size to grow from $5.4 million in 2025 to $47 billion by 2035 in China [3] - The competition is shifting towards the ability to achieve large-scale commercial deployment, as highlighted by 如祺出行 CEO 蒋华 [2] Group 3: Strategic Initiatives - 如祺出行 announced the launch of its "Robotaxi+" strategy, aiming to cover 100 core cities and build a fleet of over 10,000 Robotaxi vehicles in collaboration with partners [4] - The "Robotaxi+" model is expected to provide stable cash flow through a "human-machine hybrid" service during the initial phase of large-scale Robotaxi operations [4]