深圳商报首席记者 陈小慧 自动驾驶L3正式落地。近日，工业和信息化部在官网发布消息称，许可两款L3级自动驾驶车型产品， 分别是长安牌SC7000AAARBEV型纯电动轿车和极狐牌BJ7001A61NBEV型纯电动轿车。这意味着，L3 级自动驾驶车可以正式"上路"，自动驾驶技术从辅助驾驶向更高阶自动化迈进了关键一步。 许可设定严格限制 L3级，是自动驾驶的关键分水岭。根据《汽车驾驶自动化分级》（GB/T 40429-2021）国家标准，驾驶 自动化分成0级至5级共六个等级。其中0—2级属于辅助驾驶，具体来说，L0级属于应急辅助，L1级是 部分驾驶辅助，L2级是组合驾驶辅助；而L3级属于有条件自动驾驶，即系统在特定条件下完成全部驾 驶任务。与L2级不同的是，L3级自动驾驶在系统激活且未超出设计运行条件的情况下，驾驶主体从驾 驶员转移至自动驾驶系统。 12月15日，华为乾崑智能汽车解决方案在其官方社交平台发文确认了极狐阿尔法S（L3版）搭载了华为 乾崑智驾ADS。据统计，今年前三季度，华为乾崑智驾领航辅助NCA市场占有率达27.8%，在35万元以 上的豪华车型中，搭载率高达53％。 三是具备数据积累场景优势。一名行 ...

Core Insights - The report emphasizes the gradual recovery of the domestic economy, with a focus on the stabilization of consumer demand and the implementation of policies to boost consumption in various sectors, including healthcare and tourism [5][7] - The A-share market is experiencing fluctuations, with various sectors such as consumer goods, finance, and automotive showing resilience, while others like real estate and energy are underperforming [8][10] - The report suggests that the A-share market is suitable for medium to long-term investment, with the Shanghai Composite Index expected to consolidate around the 4000-point mark [10][12] Domestic Market Performance - The Shanghai Composite Index closed at 3,824.81, down 1.11%, while the Shenzhen Component Index closed at 12,914.67, down 1.51% [3] - The average P/E ratios for the Shanghai Composite and ChiNext are 15.89 and 48.54, respectively, indicating a favorable investment environment for medium to long-term strategies [8][12] International Market Performance - Major international indices such as the Dow Jones and S&P 500 experienced slight declines, with the Dow down 0.67% and the S&P 500 down 0.45% [4] Industry Analysis - The report highlights the chemical industry, noting a slowdown in price declines for chemical products, with sulfur and phosphate fertilizers performing well [14][15] - The food and beverage sector saw a rebound in November, particularly in prepared foods and alcoholic beverages, although overall performance remains weak compared to market benchmarks [21][22] - The semiconductor industry is experiencing growth, with global sales increasing by 27.2% year-on-year, driven by strong demand for AI-related hardware [24][25] Investment Recommendations - The report recommends focusing on sectors with strong growth potential, such as renewable energy, AI applications, and the chemical industry, particularly companies like Wanhua Chemical and Baofeng Energy [36][37] - In the food and beverage sector, investment opportunities are suggested in soft drinks, health products, and baked goods, with specific companies highlighted for potential growth [24][22]

站在历史与未来的交汇点上，当前全球科技竞争不再是以往的"百米冲刺"，而是"万米接力"式的战略博 弈。谁能在这场博弈中超前布局，谁就能牢牢掌握未来科技发展的主动权；谁能抢占制高点，谁就能在 全球格局中占据领先地位。 来源：环球时报 第二，向"卡脖子"技术宣战。事实证明，核心技术买不来、求不来，必须自力更生。以往我国高端轴承 依赖进口，对方随意涨价、断供。我们提前布局、组建团队，历时5年突破材料、加工、检测等200多项 技术，产品不仅用于"复兴号"高铁，更出口至东南亚。 又如华为的鸿蒙系统，其研发始于2012年，当时安卓与iOS主导全球市场，许多人认为自研系统"没必 要"。然而2019年美国将华为列入实体清单之际，鸿蒙系统"一夜转正"，如今覆盖各类设备已突破10 亿，成为全球第三大移动操作系统。这并非"运气"，而是"早布局"的成果。 第三，向"未来赛道"抢跑，勇做创新弄潮儿。科技竞赛从来不是"当下赛"，而是"未来赛"。如同运动员 不仅需练好规定动作，更须掌握高难度加分动作，方能夺冠。以量子计算为例，"九章四号"光量子计算 机处理特定问题比超级计算机快10的32次方倍；我国自主研发的脑机接口技术，已能帮助瘫痪患者通 ...

市场热度背后是中国L3级自动驾驶商业化进程的实质性突破。 12月16日，无人驾驶概念集体活跃，截至午盘，汉鑫科技（920092.BJ）30CM涨停，万集科技 （300552.SZ）、浙江世宝（002703.SZ）、翠微股份（603123.SH）、北汽蓝谷（600733.SH）等涨停， 舜宇精工（920906.BJ）、三友科技（ 920475.BJ）等涨超10%。 昨日晚间，工业和信息化部正式公布首批L3级有条件自动驾驶车型准入许可，两款适配城市拥堵与高 速场景的车型将在北京、重庆指定区域开展上路试点，意味着我国L3级自动驾驶从测试阶段向商业化 应用迈出了关键一步。 根据《汽车驾驶自动化分级》国家标准，L3级自动驾驶属于"有条件自动驾驶"，即在特定设计运行条件 下，车辆系统可以完全接管动态驾驶任务，允许驾驶员脱手，但驾驶员仍需保持警觉并随时准备接管。 附部分智能驾驶概念股清单（16只）： | | | 部分智能驾驶概念股一览 | | | | --- | --- | --- | --- | --- | | 关联类别 | 证券名称 | 总市值 ( 亿元 ) | 年内涨跌幅(%) | 市盈率PE ( TTM ) | | ...

Core Viewpoint - Huawei Terminal Co., Ltd. has appointed Yu Chengdong as the new chairman, succeeding Guo Ping, with other key executives also stepping down from the board, indicating a significant leadership change within the company [1][3]. Group 1: Leadership Changes - Yu Chengdong has taken over as chairman of Huawei Terminal Co., Ltd., which was established in November 2012 and has a registered capital of 606 million RMB [1]. - This leadership transition consolidates Yu Chengdong's control over Huawei's core business areas, including smartphones, automotive, and AI [3]. Group 2: Business Performance - The automotive sector, previously identified by Yu Chengdong as the "only loss-making business," is projected to turn profitable in 2024, with a net profit margin expected to reach 21.38%, becoming a key growth driver for Huawei Terminal [5]. - The company aims to launch 12 new vehicles under the Hongmeng Intelligent Driving brand within a year, expanding its offerings to cover a price range of 150,000 to 800,000 RMB, including a luxury model [8]. Group 3: Strategic Goals - Yu Chengdong has set an ambitious target to exceed 800 million devices in the Hongmeng ecosystem by 2026, focusing on smart home and industrial applications, which aligns with the vision of a fully interconnected world [6]. - The shift in Yu Chengdong's approach from making bold statements to emphasizing attention to detail reflects a commitment to quality and user satisfaction, particularly in the context of the automotive business [8][10].

每经编辑｜陈鹏程 王晓波 Ⅴ中国长征十二号甲预计进行首飞 2 美国12月12日当周EIA汽油库存数据公布 3 2025小米人车家全生态合作伙伴大会将于12 1 7日举办 4 2025中国人工智能产业创新发展大会将于12 1 7日举办 5 沐曦股份将正式上市 1 隔夜市场 美股三大指数收盘涨跌不一，道指跌0.63%，纳指涨0.23%，标普500指数跌0.24%，特斯拉涨超3%创上市以来新高，Meta涨超1%；加密货币概念、计算机 硬件板块涨幅居前，Hut 8涨近4%，Strategy、SanDisk涨超3%，昆腾涨近3%，戴尔科技涨超2%，西部数据、惠普涨超1%；油气、能源板块跌幅居前，英国 石油跌超4%，壳牌、埃克森美孚、雪佛龙跌超2%。纳斯达克中国金龙指数跌0.34%，中概股涨跌不一，知乎涨超3%，金山云涨超2%，爱奇艺、网易、世纪 互联、拼多多跌超1%。 国际油价大幅下挫，截至发稿时，美油主力合约跌2.99%，报55.12美元/桶；布伦特原油主力合约跌2.86%，报58.83美元/桶。 国际金价走低，现货黄金跌0.06%，报4302.24美元/盎司；COMEX黄金期货跌0.08%，报4331.9美元/盎司 ...

Group 1: Global Rankings and Company Performance - The Hu Run Global High-Quality Enterprises TOP 1000 list features 410 companies from the US, 158 from China, and 63 from Japan, with the US and China accounting for nearly 60% of the total [2] - Nvidia has surpassed Microsoft and Apple to become the world's most valuable company, valued at 3.28 trillion RMB, while Apple remains second at 2.86 trillion RMB [2] - Walmart is the highest revenue-generating company on the list, with an annual income of 4.8 trillion RMB, and Alphabet is the most profitable company, with a profit of 790 billion RMB [2] Group 2: Shenzhen and Regional Insights - Shenzhen ranks 11th globally with 15 companies on the list, an increase of 3 from the previous year, with 5 companies located in the Futian District [3] - The Greater Bay Area has 38 companies on the list, representing 24% of the Chinese companies, and the number of companies from Shenzhen is equivalent to that of South Korea [4][3] - Eight non-Chinese companies have established their China headquarters in Shenzhen, ranking fourth among Chinese cities, following Shanghai, Beijing, and Hong Kong [3] Group 3: Technology and Market Trends - The list highlights that artificial intelligence, semiconductors, and cloud computing are reshaping global corporate value, with 11 companies valued at over one trillion USD, up from 4 five years ago [6] - The top 10 companies have doubled in value to 184 trillion RMB, nearing the combined market capitalization of A-shares and Hong Kong stocks [6] - In the AI sector, Nvidia, Broadcom, and TSMC lead in computing power, while Alphabet, Microsoft, and Amazon dominate in software [6] Group 4: Notable Company Performances - TSMC and Tencent are among the best-performing Chinese companies, with TSMC increasing by 4.1 trillion RMB and Tencent by 2 trillion RMB [7] - Other notable performers include ByteDance (1.7 trillion RMB increase), Agricultural Bank (1.3 trillion RMB increase), and Alibaba (1.2 trillion RMB increase) [7] - Companies experiencing significant value declines include Meituan (decrease of 200 billion RMB) and Shein (decrease of 100 billion RMB) [7]

C 财联社 一图看懂 人形机器人爆发元年 产业链核心标的全梳理 ○ 初创企业 ● 科技巨头 ）车企 1月 2月 3月 4月 5月 6月 7月 8月 9月 10月 11月 12月 2016年 · (2月) · UBTECH 优必选 公司 - Alpha1S机器人在央视春晚舞台亮相 入局标志 - 2018年 · 01 印 乐聚 Aelos小型双足人形机器人亮相平昌冬奥会 8月)一 2022年 · 小米(四) 推出首款全栈仿生机器人Cyber One (7月 8月) (10月) - 2023年 · ×小鹏汽车 盒 傅利叶 推出首款通用人形机器人GR-1 人形机器人 " 小 鹏 鹏 行 PX5"发布 四 比亚迪 投资智元机器人 untre 宇树科技 推出首款通用人形机器人H1 6 智元机器人 推出第一代通用具身智能机 器人原型机远征A1 (5月 6月) -- (9月 10月 11月 12月) 2024年 · 9 阿里 -- 银河通用 | 普渡科技 投资逐际动力 推出首款产 发布初代类 品"Galbot" 人形机器人 PUDUD7 ♡ 众擎机器人 00 华为 er 汽 首款全尺寸通 成立全球具身智 用人形机器人 Gom ...

Investment Rating - The report assigns a "Buy" rating for the company, Invech, as a leading player in the temperature control system market [4]. Core Insights - Invech has a robust main business with a comprehensive product matrix, focusing on energy-saving temperature control solutions for various applications, including data centers and transportation [2][22]. - The server liquid cooling market is in its early stages but is expected to grow into a trillion-dollar market, driven by the explosive demand for AI computing power [3][38]. - The company has developed a mature liquid cooling solution and is actively expanding its customer base in North America, positioning itself to capture market share in the liquid cooling system components [4][20]. Summary by Sections 1. Company Overview - Invech, established in 2005 and listed in 2016, specializes in energy-saving temperature control solutions across four core product lines: data center cooling, cabinet cooling, bus air conditioning, and rail transit air conditioning [2][14]. - The company has established stable partnerships with major clients such as Huawei, Tencent, and Alibaba, achieving a revenue of 4.026 billion yuan in the first three quarters of 2025, a year-on-year increase of 40.19% [2][23]. 2. Market Potential - The global server liquid cooling market is projected to reach 80 billion yuan by 2026, with significant contributions from ASIC and NVIDIA NVL72 related cooling demands [3][42]. - Liquid cooling technology is becoming essential due to the increasing power density of servers, transitioning from an optional to a necessary solution for data centers [3][50]. 3. Product and Technology Capabilities - Invech has developed a comprehensive liquid cooling solution, including core components like cold plates and CDU, and is well-positioned to meet the challenges of high-power chip cooling [4][20]. - The company is actively pursuing opportunities in the North American market and has entered NVIDIA's supplier list, enhancing its potential to capture market share in the ASIC server segment [4][20]. 4. Financial Projections - The company is expected to achieve net profits of 6.5 billion yuan, 10 billion yuan, and 14.2 billion yuan from 2025 to 2027, with corresponding dynamic P/E ratios of 124x, 80x, and 57x [4][8]. - Revenue is projected to grow from 3.529 billion yuan in 2023 to 12.402 billion yuan by 2027, reflecting a compound annual growth rate (CAGR) of 34.54% [4][8].

编辑 ｜ 志豪 车东西12月16日消息，据彭博社报道，北美明星激光传感器创企Luminar已于本周一在美国德克萨斯州南区法院申请第11章破产保护（Chapter 11）。 ▲彭博社报道 根据破产申请文件显示，Luminar的资产规模在1亿至5亿美元（约合人民币7.1-35.5亿元）之间，而负债则高达5亿至10亿美元（约合人民币35.5-71亿元）。 作者 ｜ Janson ▲Luminar破产文件 目前，Luminar已获得债权人临时委员会的同意，允许其动用约2500万美元现金（约合人民币1.78亿元），为支持上述交易、维持运营并资助破产程序。 Luminar表示，在破产保护期间，公司将继续运营，并与供应商和合作伙伴保持协作，尽量减少对 LiDAR硬件和软件交付的影响。 相比之下，国内的激光雷达市场则是"欣欣向荣"，市场数据显示，2024年中国激光雷达市场规模达到约139.6亿元人民币，相较2023年的约75.9亿元增长显 著，年安装量逾150万套。 Yole Group发布的报告显示，2024年全年车载雷达安装量排名前四的国内厂商分别为：速腾聚创 、禾赛科技 、华为与图达通，合计市场份额超过90%。 在申请 ...