Core Viewpoint - The launch of the Geely Galaxy Star 8 marks a significant advancement in the luxury mid-to-high-end electric hybrid sedan market, emphasizing its five core product strengths: safety, aesthetics, luxury, performance, and technology [1][17]. Product Features - The Galaxy Star 8 features a large 5-meter body, appealing to Chinese consumers' preference for spaciousness and luxury, with a design inspired by "ripple aesthetics" and notable elements like a closed front face and frameless doors [5]. - Inside, the vehicle boasts a wrap-around cockpit design with a 15.4-inch floating central control screen and a 25.6-inch AR-HUD, enhancing the luxurious feel with high-quality materials and advanced sound systems [7][9]. - The vehicle is equipped with the Flyme Auto intelligent cockpit system, offering seamless operation and customization, along with advanced navigation capabilities [9]. Performance and Efficiency - The Galaxy Star 8 is powered by two hybrid systems: the energy-efficient Thunder EM-i and the performance-oriented Thunder EM-P, achieving a remarkable fuel consumption of just over 3 liters per 100 kilometers, setting a new standard for 5-meter sedans [13]. - It features a powerful driving experience with a 0-100 km/h acceleration in the 6-second range and advanced parking assistance systems, showcasing its competitive edge in performance [3][11]. Comfort and Handling - The vehicle's suspension system is designed for comfort, utilizing a combination of front MacPherson and rear multi-link independent suspension, ensuring a smooth ride even on bumpy roads [15]. - Despite its large size, the Galaxy Star 8 has a minimum turning radius of 5.8 meters, allowing for easy maneuverability in tight spaces [15]. Market Positioning - The Galaxy Star 8 aims to capture the B-segment sedan market with its flagship-level luxury configurations at a competitive price, achieving immediate sales success upon launch [17]. - The ongoing "全民众测" (public testing) events across various cities are designed to enhance consumer engagement and showcase the vehicle's capabilities [17].

聚焦创投圈投融资最新情报。 近日，国内低空智能机器人领军企业星逻智能宣布完成超亿元B+轮融资，本轮由苏州港航集团领投，临港前沿投资联合领投。此次融资将重点用于新 能源机器人产品化以及城市低空经济应用，进一步巩固星逻智能在无人机AI与新能源智能运维领域的领先地位。 作为中国低空经济领域的开拓者，星逻智能自2017年成立以来始终专注于无人机赋能技术的研发与商业化落地。公司推出的中国首台无人机机库、首 台无人机光伏巡检无人化系统等创新产品，已覆盖了全球超700个新能源场站，超40个区县低空应用，产品已应用于欧洲、东南亚、日本等地。 此次B+轮融资是继2024年6月的亿元级B轮融资后的又一里程碑，标志着星逻智能在新能源智维与低空城市领域的战略布局进入产业化阶段。 近日，蓝芯算力（深圳）科技有限公司（简称"蓝芯算力"）分别完成Pre-A轮及Pre-A+轮融资，获数亿元投资，由深创投和南山战新投联合领投、联想 创投、高伟达、金沙江联合、投控东海、银杏谷资本等共同跟投。据了解，蓝芯算力的Pre-A++轮也接近尾声，仍有数亿元的投资。本次融资主要用于 蓝芯算力服务器芯片的流片与量产、新一代服务器产品研发投入等。 自成立以来， ...

以下文章来源于硬氪 ，作者张子怡 硬氪 . 专注全球化、硬科技报道。36kr旗下官方账号。 创业团队豪华，汇聚不少小鹏汽车的多位核心人员。 文 ｜ 张子怡 编辑 ｜ 彭孝秋 来源 ｜ 硬氪（ID： south_36kr ） 封面来源 ｜ 企业官网 近期，智能电动摩托车品牌OMOWAY（目蔚科技）宣布完成数千万美元种子轮及天使轮融资。该融资由真格、红杉、惠友资本联合投资，OMOWAY创始 人何涛及核心团队跟投。融资资金将用于量产产品的生产和智能化技术的持续研发与完善。 OMOWAY成立于2024年，由原小鹏汽车联合创始人何涛及小鹏前副总裁矫青春共同创立。团队成员有小鹏自动驾驶前负责人肖志光、小鹏P7设计总监张利 华，原VIVO印尼负责人陈碧峰也加入团队，负责印尼市场拓展。 6月20日，OMOWAY在印尼雅加达发布其首款智能电动摩托车原型车OMO X，该原型车在发布会上以"自动驾驶"形式驶入舞台。 由于印尼公共交通欠发达，居民收入难以负担汽车，摩托车成为家庭出行刚需。印尼也是全球第三大摩托车市场，摩托车保有量超1.2亿辆，平均每两人一 辆，到2024年摩托车销量超630万辆。油摩以日韩品牌商为主，市占率超过96% ...

Core Viewpoint - The recent appointment of Wang Jun, former president of Huawei's Intelligent Automotive Solutions Business Unit, as co-president of Qianli Technology has drawn significant industry attention, raising questions about the company's potential transformation and its ambition to become the "second Huawei" in the automotive sector [2][6]. Group 1: Company Background - Qianli Technology, previously known as Lifan Technology, underwent a name change in February 2025 after emerging from bankruptcy restructuring in 2020, which was facilitated by strategic investors including Geely and Chongqing Liangjiang Investment [2][3]. - Lifan Technology was once a prominent player in the automotive export market but faced severe challenges leading to its bankruptcy in 2020, with annual sales dropping to just over 2,000 vehicles [3]. Group 2: Leadership and Strategic Direction - Wang Jun's leadership at Huawei's car BU involved the development and implementation of Huawei's full-stack intelligent automotive solutions, establishing partnerships with major automakers [2][4]. - Following Wang's appointment, Qianli Technology aims to pivot towards an "AI + car" strategy, emphasizing dual business focuses on terminal and technology sectors, with a strong alignment to Huawei's strategic direction in intelligent driving and cockpit solutions [5][6]. Group 3: Market Position and Competitive Landscape - Qianli Technology's goal to replicate Huawei's success is supported by partnerships with Geely and other automotive companies, aiming to create a competitive ecosystem in intelligent driving technology [6][7]. - Despite the ambition, analysts express skepticism about Qianli Technology's ability to achieve a comprehensive breakthrough in the competitive landscape dominated by established players like Huawei and Momenta, which hold nearly 90% of the market share in third-party supplied vehicle NOA solutions [7][8]. Group 4: Future Prospects - The establishment of Chongqing Qianli Intelligent Driving Co., a joint venture with Geely and others, is seen as a strategic move to integrate resources and develop an open platform for third-party automotive enterprises [6][7]. - Analysts suggest that while Qianli Technology may struggle to become a second Huawei, it has a viable path to becoming a significant player in the intelligent driving solutions market, leveraging Wang Jun's expertise and the company's strategic partnerships [8].

今日，煤炭板块震荡上涨，煤炭ETF（515220）开盘后迅速拉高，最高触及1.3%的涨幅后小幅回落，最 终收涨1.0%。短期来看，近期动力煤及焦煤期现价格出现了企稳迹象，社会面去库逐渐展开，叠加夏 季用电高峰临近，对煤炭行业近端业绩提供支撑。中长期来看，一系列政策的发布有助于改善市场对宏 观经济的预期，从需求侧对煤炭价格形成支撑。近日随着煤价下跌，煤炭板块有所回调，煤炭股息率进 一步提升，中证煤炭指数（399998）当前股息率7.19%，位于历史近90%分位数，具有较大的股息吸引 力。 今日，市场内出现较大程度分化。上证指数收盘下跌24.22点，跌幅为0.7%，报收3424.23点，成交额 6057.32亿元；深证成指收盘上涨35.07点，涨幅为0.34%，报收10378.55点，成交额9353.85亿元；创业 板指收盘上涨9.91点，涨幅为0.47%，报收2124.34点，成交额4645.62亿元。 盘面上，行业分化明显。其中，通信、有色、煤炭、智能汽车等板块涨幅靠前，银行、保险、旅游酒店 等板块跌幅较大。两市总成交额近1.6万亿，较前一交易日略微缩量近500亿元。 今日指数的回调让投资者不禁疑问，行情结束 ...

Core Insights - The launch of the first L4 level autonomous public transport line in Jinan marks a significant advancement in the city's smart driving sector, transitioning from L3 to L4 in just six months [1][6][12] - Jinan is positioning itself as a "driverless city" with ongoing developments in various autonomous driving applications, including logistics and sanitation [7][10][15] Group 1: Autonomous Public Transport - The L4 level autonomous buses, which lack a driver's seat and traditional controls, are equipped with numerous sensors and laser radars for environmental scanning [4][6] - The public's interest in the L4 buses has been high, with over 2,300 citizens having experienced the earlier L3 level service within two months of its launch [6][12] - The transition from L3 to L4 represents not only an upgrade in classification but also a comprehensive technological enhancement [6] Group 2: Broader Applications of Autonomous Driving - Jinan is expanding its autonomous driving initiatives beyond public transport, with L4 level autonomous delivery vehicles already operational, achieving a 30%-50% reduction in transportation costs [7][8] - Autonomous cleaning vehicles are also being deployed, enhancing efficiency and quality in sanitation operations [10] Group 3: Infrastructure and Industry Development - Jinan benefits from extensive infrastructure for testing autonomous vehicles, including a 26-kilometer closed highway and 174.75 kilometers of public roadways designated for testing [10][12] - Collaborations with companies like Huawei for developing autonomous mining vehicles indicate a growing industrial base in Jinan [10] Group 4: Policy Support and National Pilot Programs - Jinan's progress in autonomous driving is supported by comprehensive policy frameworks established since 2018, facilitating testing and commercial applications [12][13] - The city has been recognized as a national pilot for electric public vehicles and smart connected vehicles, which will drive further investment and infrastructure development [13] Group 5: Learning from Other Cities - Jinan is looking to cities like Wuhan and Guangzhou for best practices in autonomous driving, particularly in policy innovation and infrastructure development [15][17] - The experiences of these cities highlight the importance of a robust smart traffic system and supportive regulations for the successful implementation of autonomous vehicles [15][17]

宏观&行业 美国推出稳定币目的何在？ 6月中旬，美国参议院通过《指导与建立美国稳定币国家创新法案》，制定了与美元挂钩的稳定币监管 规则。自此，2500亿美元市场规模的稳定币正式登上美国金融的舞台。与美元资产绑定后，能够使得稳 定币币值相对稳定。因此，按照美国的设想，随着稳定币市场的扩张，预计到2030年将达到3.7万亿美 元，而稳定币发行商将成为美国国债最大的持有者之一。从国际收支的角度来看，维系美元循环的平衡 正在被打破。美国积极推动稳定币的目的，并不仅仅是为了化解美债风险，其更大的目标还在于加深美 元对全球金融体系的影响。如果稳定币不加限制地传播，美元的影响力将更加侵蚀他国的主权货币体 系。意大利财政部长已发出警告，与美元挂钩的稳定币可能"排挤"欧元。而对于那些本币系统脆弱、通 胀高企的发展中国家而言，这种冲击将更为直接和猛烈。 香港40家机构获批虚拟资产交易牌照 近日，国泰海通旗下的香港子公司国泰君安国际控股有限公司获香港证监会批准，成为首家可提供全方 位虚拟资产相关交易服务的香港中资券商。这则消息迅速引爆了市场，6月25日，国泰君安国际大涨近 200%，带动香港中资券商指数单日大涨11.75%，A股天 ...

Core Viewpoint - Cheng Tai Technology Co., Ltd. has submitted an application for listing on the Hong Kong Stock Exchange, with Guotai Junan International as the sole sponsor. The company is a leading supplier of millimeter-wave radar, a core component for intelligent driving, and is projected to be the largest supplier of forward millimeter-wave radar in China by shipment volume in 2024, holding market shares of 9.3% and 4.5% respectively in the domestic and overall markets [1][4]. Revenue Growth and Client Dependency - Cheng Tai Technology has experienced rapid revenue growth from 2022 to 2024, with revenues of RMB 0.58 billion, RMB 1.57 billion, and RMB 3.48 billion respectively. However, the company is heavily reliant on a single client, with revenue from its largest customer accounting for 93.6% of total revenue in 2024 [5][6][3]. Product Segmentation - The company has launched seven main radar models, categorized into forward radar and rear/side radar (also known as corner radar). In 2024, revenue from forward millimeter-wave radar and corner millimeter-wave radar accounted for 63.9% and 35.3% of total revenue respectively [2][3]. Market Growth - The global market for automotive millimeter-wave radar is expected to grow from RMB 15.6 billion in 2020 to RMB 24.8 billion in 2024, with a compound annual growth rate (CAGR) of 12.3%. The Chinese market is projected to grow from RMB 4.4 billion to RMB 8.2 billion during the same period, with a CAGR of 16.6% [4]. Financial Performance - The company has not yet achieved profitability, but its losses have been narrowing significantly, with net losses of RMB -0.79 billion, RMB -0.97 billion, and RMB -0.22 billion from 2022 to 2024. The gross profit margin has slightly increased from 28.7% in 2022 to 34.0% in 2024 [6][7][8]. Funding and Valuation - Cheng Tai Technology has raised over RMB 350 million in total funding, with a post-investment valuation of approximately RMB 1.32 billion following its C-round financing completed in 2024 [9][10]. The funds are intended for new technology research, product development, testing equipment, production line upgrades, marketing, and strategic investments [10].

6月26日，小米YU7正式发布，新车共推出3款配置车型，售价区间为25.35-32.99万元。随后，"小米 YU7价格"迅速登上热搜榜第一名。在开启支付5000元定金之后，小米官方公布，YU7在3分钟的大定数 量突破20万台，一小时大定超28万台。 毫无疑问，这将又是一个爆款车型。中信证券的研报甚至认为，SU7和YU7稳态销量比或落在1:2，YU7 将冲击所在价格带销量TOP1和纯电车型销量TOP1。 发布会上，小米集团创始人、董事长兼CEO雷军用各种参数和场景，表达着小米YU7的强大性能和创 新。他还表示，YU7将直面最强悍的竞争对手。毋庸置疑，预售价25.35万元的小米，直接竞争对手将 是特斯拉Model Y。 而在此之前，小米的首款车型小米SU7已经是款现象级的车型，自2024年3月上市至6月初，15个月累计 销量超过25万辆。这还是在前期产能受限的情况下。随着产能逐步提升，小米SU7今年前5个月的月均 销量达到2.5万辆，远超Model 3。 此外，特斯拉开放300多项专利，允许其他企业无偿使用，为全球新能源汽车产业送上一把 "金钥匙"， 降低行业技术门槛，激发创新活力。许多新兴车企借助特斯拉的专利技 ...

1 地的定位进行调整，台州生产基地将是北美大客户的核心实践基地，江西鹰潭基地 将是国内大循环的核心实践基地，越南生产基地将是海外循环的核心实践基地。 当前公司已经构建以智能手机为代表的第一成长曲线、以汽车电子为代表的第 二成长曲线以及以 AR 眼镜为代表的第三成长曲线。 智能手机业务是公司主要收入来源之一。其中，IRCF 红外截止滤光片主要用于 手机摄像头，多年来公司保持全球领先的市场份额。其升级产品涂布滤光片产品， 过去多年在安卓客户端公司保持较高的市场份额，在今年公司也在涂胶端成功切入 北美大客户供应链，未来随着公司份额逐步提升有望带来较好的业绩成长空间。 2020 年公司通过薄膜光学面板业务开始直接与北美大客户合作，过去几年随着公司 份额爬坡，薄膜光学面板业务快速成长为公司的第二大支柱业务，并且达到了较高 的市场份额，未来其增长空间主要来自于非手机业务的新增订单。2023 年公司微棱 镜产品在大客户最高端机型上首次量产落地，是业界首创。微棱镜产品的顺利落地 使客户对公司的技术工艺开发能力和自动化开发能力有了进一步认可。现在公司已 经和客户进入了战略合作伙伴的新阶段，为客户实现光学创新升级落地和开发，公 ...