P 175 随后，小鹏、理想也先后官宣获得L3级道路测试牌照，后续分别在广州、北京两个城市开展常态化L3级道路测试；华为的鸿蒙智行以及比亚迪则已联合深 圳相关部门开启L3级有条件自动驾驶内测。小鹏、极氪等品牌也宣布，其市售车型已经为L3级自动驾驶做好了硬件预埋。 作者 | 柴旭晨 编辑 | 周智宇 由系统掌权的智驾时代渐行渐近。 日前，工信部公布了首批L3有条件自动驾驶功能车型准入许可，首批准入车型包含深蓝SL和极狐阿尔法S（L3版）。 就在准入车型公布的同一天，华为车BU发文称极狐阿尔法S采用的是乾坤智驾ADS系统，搭载了包含三颗激光雷达在内的34颗高性能传感器。这意味着，在 华为的托举下，北汽成功入围L3智驾赛道。 据了解，申报需要明确试点车型、使用场景、速度范围等限制性条件，若工信部决定准入的，需要设置准入有效期、实施区域等限制性措施。同时，随着政 策要求的升级调整，会产生一些新的变化，这就要求车企跟着最新的标准或要求走。 对此，中国汽车标准化研究院总工程师孙航表示，此次发布特别强调了附条件准入，将允许开启自动驾驶功能的路段限定在典型、低风险场景中，意在通过 小切口起步、安全有序推进自动驾驶技术稳妥落地 ...

灵活生态催生转化加速度 这些高校正以"敢为天下先"的魄力，探索出适合自身定位的转化路径，构建了"因需而变"的转化生态。 作为一所以发展融合学科为特色的高校，香港科技大学（广州）在"港科大一体，双校互补"的框架下， 与港科大维持紧密合作，致力于搭建积极而创新的成果转化体系，构建产学研用投一体化的创新生态系 统； 深圳大学秉持改革创新的建校使命，先行先试，探索并实施了以"100%赋权+作价投资+约定收益"为核 心的完成人自行实施转化新模式； 广州大学通过体制机制改革、平台能级提升、产业精准对接等，系统构建了贯穿"基础研究－技术攻关 －成果转化－产业培育"的全链条创新生态，走出了一条特色鲜明、成效显著的高校科技成果转化之 路； 南都讯 校企携手，融合创新。 12月15日至17日，由教育部高等学校科学研究发展中心与全国高校区域技术转移转化中心（粤港澳大湾 区）联合主办的2025高校科技成果交易会（以下简称"2025科交会"）在广州琶洲广交会展馆盛大启幕。 全国600余所知名高校集结广交会展馆，各领域龙头企业及顶尖投资机构将在此汇聚。 南都N视频记者观察发现，这里不仅汇聚传统名校的创新成果，更有一批非985/211、非 ...

文｜极智GeeTech 近日，工信部首次批准L3级自动驾驶商业化运营，通过L3级自动驾驶准入申请的两款车型为长安深蓝SL03与极狐阿尔法S6，标志着我国首次允许车辆在特 定条件下由系统承担驾驶任务。可以预见的是，2026年将真正成为L3级自动驾驶的"量产元年"。 值得注意的是，此次明确了L3级自动驾驶的权责划分：当车辆在限定路段以不超过80公里时速自主行驶时，一旦发生事故，若系统处于激活状态，车企或 将承担主要责任。同时，准入要求L3级自动驾驶车辆的传感设备必须为"前装量产"，后改装车辆无法获得试点资格，从源头保障技术稳定性。 行业普遍认为，L3级是从"辅助驾驶"到"完全自动驾驶"的重要过渡，后续的L4级自动驾驶将实现更大突破——在固定区域内，车辆可完全脱离人类干预，真 正实现无人驾驶。 这一小步，背后是全球十年的技术博弈。德国早在2021年就通过《自动驾驶法》，明确L3系统激活期间事故责任由车企承担，并要求车辆配备"黑匣子"记录 运行数据。奔驰Drive Pilot系统随后在德国高速公路上线，成为全球首个商业化的L3产品。相比之下，中国此次准入虽起步稍晚，却一步切入责任核心，未 走"测试"老路，而是直接启动 ...

Group 1 - The Ministry of Industry and Information Technology officially announced the first batch of L3 conditional autonomous driving vehicle permits in China, marking a significant step towards the commercialization of L3 autonomous driving [1] - Two models, one from Changan Automobile and another from BAIC BluePark, have received conditional approval for L3 autonomous driving capabilities, with specific operational areas designated in Chongqing and Beijing [1] - The Changan SC7000AAARBEV can operate in congested traffic at speeds up to 50 km/h, while the Arcfox BJ7001A61NBEV can operate at speeds up to 80 km/h on designated highways [1] Group 2 - Multiple domestic automakers, including Changan, BYD, GAC, Dongfeng, SAIC, Geely, Xpeng, and Li Auto, have made substantial progress in the L3 autonomous driving sector, with several models receiving road testing permits [2] - Huawei's QianKun Intelligent Driving ADS L3 solution is undergoing internal testing across multiple cities and models, while GAC's A800 has obtained a license for L3 testing at speeds of up to 120 km/h in Guangzhou [2] - The PhiGo Max, developed by 4D Mapping and its subsidiary, is set for mass production in 2026, targeting the high-end L3 intelligent driving market [2]

中国银河证券主要观点如下： 1)折叠屏：2025年12月2日，三星电子在韩国首尔举行全球发布会，正式推出首款三折叠屏手机 GalaxyZTriFold。12月11日，华为发布全新一代折叠屏旗舰华为MateX7。2)AI/AR眼镜：10月24日，阿 里巴巴旗下的夸克AI眼镜S1正式在各大电商平台开启预售，产品将于12月初陆续发货。2025年12月3 日，在"理想科技日"发布会上，理想汽车正式推出旗下最具突破性的智能终端产品——理想AI眼镜 Livis。12月9日，谷歌AI眼镜原型机首次用上谷歌NanoBanana图像编辑能力。 板块跟踪 1)近一个月消费电子指数表现：从涨跌幅水平来看，消费电子行业指数跑赢沪深300指数0.74个百分 点，跑输电子指数1.60个百分点。从具体数据来看，消费电子行业指数涨跌幅为-2.08%，电子行业指数 涨跌幅为-0.48%，沪深300指数涨跌幅为-2.82%。2)近一年消费电子指数表现：从涨跌幅水平来看，消 费电子行业指数跑赢沪深300指数20.93个百分点，跑输电子指数3.09个百分点。从具体数据来看，消费 电子行业指数涨跌幅为35.28%，电子行业指数涨跌幅为38.37%，沪 ...

Core Insights - The global wearable device market is projected to ship 150 million units in the first three quarters of 2025, reflecting a year-on-year growth of 10.0% [1] - The Chinese market alone is expected to ship 58.43 million units, marking a significant year-on-year increase of 27.6% [1][9] - Major manufacturers are actively launching new products, which is driving growth in both global and developed markets [1] Global Market Performance - The global smartwatch market is expected to ship 120 million units in the first three quarters of 2025, with a year-on-year growth of 7.3% [1] - The global wristband market is projected to ship 32.86 million units, showing a year-on-year increase of 21.3% [1] - The top five manufacturers in the global wrist-worn device market include Huawei, Xiaomi, Apple, Samsung, and BBK, with Huawei leading at 28.6 million units shipped [3] Company-Specific Insights - **Huawei**: Achieved the highest global shipment volume of 28.6 million units, with a year-on-year growth of 21.6%. The new Watch GT 6 series features significant upgrades and is expanding its overseas market presence [3][4] - **Xiaomi**: Recorded a shipment of 27.9 million units, marking a 36.1% year-on-year increase. The growth is driven by its entry-level products like the Mi Band 10 and Redmi Watch series [4] - **Apple**: Launched three new models in Q3 2025, including the Apple Watch S11, which supports 5G. Apple maintains a strong position in the mid-to-high-end market [5] - **Samsung**: Released the Galaxy Watch 8 series, successfully reversing a decline in shipments earlier in the year [6] - **BBK**: Maintained a strong position in the children's smartwatch market in China, leveraging its brand and product diversity [7] Chinese Market Performance - The Chinese wrist-worn device market is expected to ship 58.4 million units in the first three quarters of 2025, with a year-on-year growth of 27.6% [9] - The top five manufacturers in China include Huawei, Xiaomi, BBK, Apple, and Honor, with Huawei leading at 20.8 million units shipped [9] Future Market Predictions - The Chinese wrist-worn device market is projected to ship 79.58 million units in 2026, with a growth rate of 5.1% [11] - The adult smartwatch segment is expected to grow by 8.2%, while the children's smartwatch market is anticipated to recover in 2026 [11] - The wristband market is expected to continue its growth trajectory, driven by high cost-performance ratios and diverse product offerings [11] Industry Trends - The wearable market is entering a "value competition" phase, with manufacturers focusing on health function upgrades, AI applications, and 5G technology [12] - There is a growing demand across different age groups and a penetration into lower-tier markets, which may unlock long-term growth potential for the industry [12]

Group 1 - Huawei Terminal has undergone significant leadership changes, with Yu Chengdong officially taking over as chairman from Guo Ping, alongside the departure of other key executives like Meng Wanzhou and Xu Zhijun [1][2][5] - This leadership transition is viewed as a strategic move in response to intensified competition in the technology sector, rather than a mere personnel shuffle [5][6] - Yu Chengdong, known for his decisive leadership style, has been instrumental in establishing Huawei's terminal business and has a track record of making bold decisions to prioritize the company's core products [7][8][9] Group 2 - The recent changes in leadership are seen as a preparation for Yu Chengdong to take full control of Huawei's key business areas, including smartphones, the HarmonyOS ecosystem, and smart vehicles, enhancing decision-making efficiency [10][11][13] - Meng Wanzhou's transition to the rotating chairman role allows her to focus on broader strategic initiatives for Huawei, while Yu will manage the terminal business directly [14] - Huawei's terminal division is currently at a critical juncture, with its smartphone market share declining from 18% in Q1 2025 to 15.2% in Q3 2025, indicating challenges in maintaining its competitive position [15][16] Group 3 - The decline in market share is attributed to Huawei's push for the "pure HarmonyOS," which is a long-term strategic choice that may incur short-term costs [16][17] - The next one to two years are crucial for the success of the HarmonyOS ecosystem, as its acceptance in the market will significantly impact Huawei's terminal business future [17] - The adjustments in leadership and strategy mark the beginning of a new phase for Huawei, with a focus on overcoming challenges in the AI and smart vehicle sectors while aiming for a resurgence in the competitive landscape [17]

炼油催化剂是指在石油炼制过程中使用的催化剂，这类物质能加速化学反应速率而自身在反应前后不被消耗，主要用于提升原油加工效率和产品质量。 炼油催化剂种类繁多，比如按物理状态可分为液体催化剂和固体催化剂；按反应体系可分为均相催化剂和多相催化剂；按反应类型可分为催化裂化、加氢、 重整、异构化等。 资料来源：观研天下整理 从产业链来看，炼油催化剂上游主要为贵金属、金属氧化物、原材料和相关生产设备，其中贵金属包括铂、钯、铑等；金属氧化物包括氧化铝、二氧化硅 等；原材料包括分子筛、稀土、高岭土、硅藻土等；中游为炼油催化剂生产制造；下游为石油炼制、化工原料生产、能源与交通、环保治理等应用领域。 从市场规模来看，2020年到2024年我国炼油催化剂市场规模为先增后降趋势，到2024年我国炼油催化剂市场规模约为229.63亿元。 数据来源：观研天下整理 从产量来看，2020年到2023年我国炼油催化剂产量为增长趋势，到2024年产量有所下降。数据显示，2024年我国炼油催化剂产量约为29.4万吨，同比下降 1.7%。 资料来源：观研天下整理 从需求量来看，2020年到2024年我国炼油催化剂需求量为上下波动趋势，到2024年我国 ...

试点先行，意在推动产业化落地 需要明确的是，L3级自动驾驶的落地，是一项涵盖整车制造、零部件、软件算法、通信与数据服务等 多环节的系统工程。政策要求企业建立覆盖车辆全生命周期的管理体系，推动产业链从"供应关系"转 向"共生关系"。 当行业对L2级辅助驾驶与L4级自动驾驶倾力投入时，作为承前启后关键环节的L3级有条件 自动驾驶，在经历长期酝酿后，终于依托工信部的一纸准入许可，实现了商业化进程的关键 破局 在汽车智能化赛道上，长期存在着"两头热"的格局：一端是车企在L2级辅助驾驶上竞逐智能化与成本优 势，力求在城区场景中率先普及；另一端则是科技公司与车企争夺L4级无人驾驶的技术与商业化高 地。 而介于二者之间、被视为重要过渡阶段的L3级有条件自动驾驶，在历经多年技术积累与法规探讨后， 终于迈出实质性一步。 12月15日，工业和信息化部附条件批准了长安深蓝SL03与北汽极狐阿尔法S（L3版）的自动驾驶车型产 品准入申请，允许其在限定区域内开展L3级有条件自动驾驶上路通行试点。 "此次许可是中国首个国家层面的L3车型准入许可，标志着L3自动驾驶从测试阶段正式迈向商业化应用 的关键一步。"一位智能驾驶技术专家向《财经》 ...

Core Viewpoint - The AI health sector is rapidly evolving, with significant advancements in technology and user engagement, particularly in rural areas where AI applications are improving healthcare access and management [2][3][8]. Group 1: Market Dynamics - The integration of AI into the health sector is accelerating faster than anticipated, with notable examples such as a young village doctor using AI to create health records for over 200 elderly residents [2][3]. - Major companies, including Ant Group and Huawei, are entering the AI health space, indicating a growing recognition of its potential despite previous limitations in model accuracy and data availability [5][6]. - The AI health application "Antifufu" has achieved over 15 million monthly active users within six months of launch, answering over 5 million health inquiries daily, with 55% of users from lower-tier cities [7][8]. Group 2: Growth Potential - The market for AI in healthcare in China is projected to grow from 8.8 billion yuan in 2023 to 315.7 billion yuan by 2033, highlighting the sector's vast potential [8]. - The rapid growth of AI health applications is validated by data from authoritative institutions, indicating a robust demand for AI-driven health solutions [8]. Group 3: AI's Role in Healthcare - AI is positioned as a complement to healthcare professionals rather than a replacement, enhancing the efficiency of the healthcare system by managing non-urgent inquiries and allowing doctors to focus on complex cases [10][13][16]. - Antifufu utilizes a sophisticated AI model trained on extensive medical literature and data, ensuring high accuracy in health assessments and recommendations [18][20]. Group 4: User Engagement and Features - Recent upgrades to Antifufu allow users to set health goals and receive personalized plans for diet, exercise, and medication, fostering healthier habits [23][25]. - The app integrates with various smart devices and allows users to manage health records, making it a comprehensive tool for personal health management [27][28]. Group 5: Future Outlook - The evolution of AI in healthcare signifies a shift towards a more integrated and user-friendly approach, with Antifufu exemplifying this trend as a "health friend" for users [29].