家人们，今天A股又见证历史了！寒武纪盘中股价冲上1464.98元，一度把茅台甩在身后，坐上"股王"宝座。虽然收盘回落，股王宝座得而复失，但这事儿足 够让市场沸腾——毕竟，寒武纪市值已达英特尔的75%，而它的营收只有英特尔的1.6%。这到底是AI芯片的黄金时代，还是资本泡沫的狂欢？我是帮主郑 重，20年财经老炮，今天咱就唠透这背后的逻辑。 一、寒武纪的逆袭：时代变了，股王也得换赛道？ - 估值泡沫：寒武纪动态市盈率343倍，市销率111倍，而英特尔只有4.2倍。这溢价靠的是未来增长预期，一旦业绩增速放缓，股价容易雪崩。 - 技术护城河没想象中宽：寒武纪思元590芯片性能接近英伟达A100，但实际应用仍依赖软件适配和生态支持。华为昇腾、百度昆仑等对手也在猛追，竞争 比茅台的白酒江湖惨烈多了。 三、中长线看，寒武纪的关键胜负手 寒武纪这波暴涨，核心是三大驱动： 1. 业绩爆发式增长：2025年上半年营收28.81亿，同比涨4347%，净利润10.38亿，扭亏为盈。这增速堪比火箭，虽然基数低，但市场看的是未来。 2. 政策红利猛推：国务院刚发布《"人工智能+"行动意见》，目标2027年AI普及率超70%。国产替代成了 ...

Group 1: Nvidia Financial Performance - Nvidia reported Q2 revenue of $46.743 billion, a 56% increase year-over-year from $30.040 billion and a 6% increase from the previous quarter's $44.062 billion [2] - Net profit for the second quarter was $26.422 billion, up 59% from $16.599 billion year-over-year and up 41% from the previous quarter's $18.775 billion [2] - Adjusted net profit, not in accordance with GAAP, was $25.783 billion, a 52% increase year-over-year from $16.952 billion and a 30% increase from the previous quarter's $19.894 billion [2] Group 2: Meituan Financial Performance - Meituan's adjusted net profit for Q2 was 1.49 billion yuan, a significant decline of 89% year-over-year from an estimated 9.85 billion yuan [3] Group 3: DingTalk Hardware Development - DingTalk released its first report after a four-month return, introducing the AI-enhanced DingTalk 8.0 and the AI hardware product DingTalk A1 [4] - The development of DingTalk A1 took less than four months, with a team of about 40-50 people reportedly working with minimal sleep to ensure efficiency [4] Group 4: Huawei Technology Theft Case - Fourteen individuals were sentenced for infringing on Huawei's chip technology, with the stolen technology valued at 317 million yuan [4] Group 5: DeepSeek Bug Issue - DeepSeek V3.1 experienced a bug causing the character "极" to appear in code outputs, leading to potential compilation issues for developers [5] Group 6: Cainiao Year-End Bonus - Cainiao Network is set to fulfill its promise of double year-end bonuses, which will be distributed at the end of August to employees who were on staff as of August 1 [6] Group 7: Meituan Policy Change - Meituan plans to eliminate "overtime penalties" for its delivery riders by the end of 2025 [7] Group 8: Meta and OpenAI Employee Movement - Two core researchers left Meta shortly after joining and returned to OpenAI, indicating potential instability within Meta's new AI lab [8] Group 9: Musk's Starship Updates - Elon Musk announced that Starship V3 is expected to be completed and tested by the end of this year, with V4 anticipated in 2027 [9] Group 10: Apple A20 Chip Production - Apple's upcoming A20 chip will utilize TSMC's 2nm process, with significant demand expected, as Apple is projected to occupy nearly half of the production capacity [9] Group 11: Apple Acquisition Strategy - Reports indicate that Apple CEO Tim Cook has repeatedly rejected acquisition proposals for Tesla, despite suggestions from senior executives [10] Group 12: Nvidia's Future Outlook - Nvidia's projected sales for Q3 are approximately $54 billion, aligning with Wall Street expectations, but concerns arise over the sustainability of AI investment growth [12]

Group 1: Market Performance - The semiconductor industry continues to show strength, with the electronic ETF (515260) rising over 3.7% during trading and currently up 2.38%, reaching a new high since its listing [1] - In the semiconductor sector, companies like SMIC increased by over 13%, while other firms such as Rockchip and Cambricon saw gains exceeding 8% and 6% respectively [1] - The electronic sector's total market capitalization has surpassed that of the banking sector for the first time, reaching 11.54 trillion yuan as of August 22 [2] Group 2: Financial Results - As of August 27, 35 out of 50 component stocks of the electronic ETF have disclosed their semi-annual reports, with 23 companies reporting positive net profit growth, and 4 companies achieving over 100% growth [3] - Notably, Silan Microelectronics reported a staggering 1162% increase in net profit year-on-year, while Cambricon's revenue grew 43 times [3] Group 3: Capital Inflow - The electronic sector has attracted significant capital inflow, with a net inflow of 13.5 billion yuan as of the morning, and 83.1 billion yuan and 206.6 billion yuan over the past 5 and 20 days respectively [4] Group 4: Future Outlook - The electronic sector is expected to be driven by four main themes: 1. Semiconductor equipment chain expansion due to clear demand for domestic storage and logic wafer factories [5] 2. Domestic computing power chain growth amid U.S. restrictions on AI chips, with anticipated breakthroughs in advanced processes [5] 3. Recovery in consumer electronics with the upcoming release of new AI smartphones and AR glasses [5] 4. Growth in overseas computing power chains driven by increased capital expenditure from North American cloud providers [5] Group 5: ETF Composition - The electronic ETF (515260) passively tracks the electronic 50 index, heavily investing in the semiconductor and consumer electronics sectors, with a 43.75% weight in broad consumer electronics stocks [6] - The ETF covers key industries such as AI chips, automotive electronics, 5G, cloud computing, and printed circuit boards (PCBs) [6]

8月28日，中国人民抗日战争暨世界反法西斯战争胜利80周年纪念活动新闻中心举办首场记者招待会。 外交部部长助理洪磊在回答记者提问时表示，日本国内始终存在一股势力企图否认侵略、美化侵略，歪曲 篡改历史，甚至为当年的战争罪犯翻案招魂，这是对战后国际秩序的挑战，对人类良知的挑战，对所有爱 好和平人民的挑战。 在中国人民抗日战争暨世界反法西斯战争胜利80周年之际，日本再次面临历史之问、时代之问。我们敦促 日方正视历史，深刻反省侵略罪责，同军国主义彻底划清界限，走和平发展、睦邻友好的正道。 来源：新华网文字实录、人民网微信 点击关键字可查看 责编：万健祎 校对： 姚远 版权声明 证券时报各平台所有原创内容，未经书面授权，任何单位及个人不得转载。我社保留追 究相关 行 为主体 法律责任的权利。 转载与合作可联系证券时报小助理，微信ID：SecuritiesTimes END 潜望系列深度报道丨 股事会专栏 丨 投资小红书 丨 e公司调查 丨 时报会客厅 丨 十大明星私募访谈 丨 全球市值第一公司发布财报，盘后跳水！ 丨 深夜，中概股下挫！ 丨 半年报"交卷"渐多！今夜， 逾30家公司利润同比翻倍！ 丨 全面取消！美团宣布 ...

Core Insights - The AAAI-2026 conference has received an unprecedented number of submissions, with nearly 29,000 papers submitted, of which around 20,000 (approximately two-thirds) are from China [2][5] - The total number of unique authors submitting papers exceeds 75,000, indicating a significant increase in participation [4] - The review process is facing challenges due to the high volume of submissions, with about 23,000 papers entering the review process, nearly double the number from AAAI-25 [5][6] Submission Statistics - The main technical track of AAAI-2026 received close to 29,000 submissions, with Chinese submissions accounting for approximately 20,000 [2] - The top three research keywords for submissions are computer vision (nearly 10,000 papers), machine learning (around 8,000 papers), and natural language processing (over 4,000 papers) [5] - The number of emails received by the organizing team has surpassed five times the total for AAAI-25, peaking at 400 emails per day [4][5] Review Process and Quality Assurance - To manage the increased demand, AAAI has recruited over 28,000 committee members, nearly tripling the size of the committee from AAAI-25 [6] - AAAI is actively investigating potential ethical issues in the review process and has established committees to ensure integrity and accountability [7] - AI-assisted review experiments have shown promising early results, including tools to detect collusion among reviewers [8] Trends in AI Research - The surge in submissions reflects a broader trend of increasing participation from Chinese researchers in AI, with China becoming a dominant force in the field [17][20] - Reports indicate that the proportion of papers authored by Chinese researchers at top AI conferences has significantly increased over the past decade [20][22] - By 2024, eight of the top 20 institutions ranked by accepted papers at leading AI conferences are from China, highlighting the country's growing influence [24][25]

8月28日，运机集团子公司华运智远宣布，将在"运机—华为"联合创新中心和华运智远技术中心的共同 孵化下组建智能机器人团队，并正式开启团队招募。智能机器人团队将聚焦矿山、散料输送港口等行业 的少人无人化作业、智能搬运、智能巡检与智能运维等场景，研发具备自主感知、自主决策、自主执行 能力的行业定制化智能机器人产品。 ...

Group 1: Technology Sector Developments - Huawei is set to unveil its new Mate XTs foldable smartphone on September 4, featuring the new Kirin 9020 processor and satellite communication capabilities [2] - Nvidia reported Q2 2026 revenue of $46.743 billion, a 56% year-over-year increase, but its data center revenue fell short of expectations, leading to a market cap loss of $130 billion [3] - IBM and AMD announced a collaboration to develop a next-generation computing architecture that combines quantum computing and high-performance computing [5] - Huawei launched a new high-end SSD series optimized for AI workloads, enhancing performance and lifespan through innovative software [7] Group 2: Consumer Electronics and Appliances - Xiaomi aims to become a leading brand in the home appliance sector by 2030, with a 66% revenue growth in Q2 for its tech appliances, particularly a 60% increase in air conditioning sales [4] - Apple is expected to release the iPhone 17 series on September 10, with plans to discontinue several existing models, including the iPhone 15 and Apple Watch Series 10 [6] Group 3: Transportation and Delivery Services - Tesla expanded its Robotaxi service area in Austin from 91 square miles to 173 square miles and increased its fleet size by 50% [8] - Meituan announced plans to eliminate overtime penalties for its delivery riders by the end of 2025, focusing on improving rider experience [9] - Meituan's CEO stated that the company has reached a daily order volume of 100 million and aims to increase it to 150 million [10] Group 4: Strategic Partnerships and Investments - Horizon Robotics' CEO indicated that the industry is moving towards full-scene autonomous driving within the next five to ten years, with upcoming collaborations in the RoboTaxi sector [11] - JD Supermarket has become the largest importer of Ecuadorian roses in China, reducing prices by 30% through direct sourcing [12] - ZTE and China Guoxin signed a strategic cooperation agreement to enhance investment and market development in emerging industries [12] Group 5: Corporate Changes and Financial Updates - Nanwei Semiconductor appointed Chris Allexandre as the new CEO, effective September 1, 2025, marking a management transition [13] - Nikon announced the closure of its Yokohama manufacturing plant by September 30, 2025, with minimal financial impact expected [15] - Hongjing Technology plans to raise up to 1.35 billion yuan for smart computing projects [16] - Guanghe Technology intends to invest 2.6 billion yuan in a new manufacturing base project [17] - Cambridge Technology's major shareholder reduced its stake by 1.8 million shares [18] - Guoxin Technology announced plans to reduce its shareholding by up to 5% due to fund exits [19] - Yongji Co. terminated its acquisition plan for Turnafly Electronics after negotiations [20] - Chip Enjoy Technology completed a multi-billion B+ round financing to enhance its semiconductor automation services [21]

Core Insights - In July 2025, China's inverter export amount was 6.505 billion yuan, showing a month-on-month decrease of 1.08% but a year-on-year increase of 16.02%, indicating a slight month-on-month adjustment while maintaining high year-on-year growth [2][3] - From January to July 2025, the cumulative inverter export amount reached 36.971 billion yuan, reflecting a year-on-year growth of 8.63%, demonstrating stable market performance [2][3] Regional Performance - **Asia**: In July 2025, inverter exports to Asia amounted to 2.054 billion yuan, with a month-on-month decrease of 22.84% and a year-on-year increase of 1.69%. The Middle East performed well, while demand from India and Pakistan declined [4] - **Europe**: Exports to Europe totaled 2.831 billion yuan in July 2025, with a month-on-month increase of 15.70% and a year-on-year increase of 28.13%, indicating stable performance [4][5] - **North America**: Exports to North America reached 235 million yuan, with a month-on-month increase of 6.27% and a year-on-year increase of 31.93%, showing a positive trend as tariff impacts stabilize [6] - **Oceania**: Exports to Oceania hit a record high of 397 million yuan, with a month-on-month increase of 60.89% and a year-on-year increase of 188.80%, indicating strong growth [6] Export Performance by Province - In July 2025, Guangdong's inverter exports were 2.441 billion yuan, showing a month-on-month increase of 0.93% and a year-on-year increase of 10.38%, while Jiangsu's exports decreased slightly due to high base effects from June [7] Investment Outlook - Long-term growth in global renewable energy installations and increasing demand for energy storage are expected to drive market expansion. Key regions include: - Europe, where large-scale storage installations are expected to accelerate [8] - The U.S., where demand for large storage projects is significant and tariff impacts are diminishing [8] - Emerging markets in Asia, Africa, and South America, which present substantial growth opportunities [8] - The Middle East, where renewable energy investments are increasing [8]

暑假就要结束了，开学季越来越多的同学联系峰哥和柱哥。有刚入行的研一小白，也有秋招激战正酣的研二/研 三的同学，也不乏打算转行自驾的小伙伴。很开心，通过自动驾驶之心和大家连接在一起，共同推进行业的发 展。 我们的愿景是让AI与自动驾驶走进每个有需要的同学。 端到端自动驾驶如何入门？一段式/二段式量产中如何使用？ 传统规划控制想转端到端VLA，求学习路线图！ 自动驾驶多模态大模型预训练数据集有哪些？求自动驾驶VLA微调数据集？ 多传感器融合现在还适合就业吗？ 3DGS和闭环仿真如何结合？应用中需要考虑哪些元素？ 世界模型是个啥？业内如何应用，研究还有切入点么？ 业内哪家公司前景好一些，适合跳槽，都有什么岗位开放招聘？求星主内推~ 博士入学，哪个方向容易出成果？ 闭环强化学习如何入门？ 我们会不定期和一线的学术界&工业界大佬畅聊自动驾驶发展趋势，探讨技术走向和量产痛点： 这是一个认真做内容的社区，一个培养未来领袖的地方。 星球内部梳理了近40+自动驾驶技术方向，同时也有面 向求职的问答梳理。 | 0 国内高校著名自动驾驶团队整理 链接: https://t.zsxq.com/hlVJZ | 5 算法进阶 | (17 ...

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