Core Viewpoint - Tesla's future is seen as increasingly uncertain, with 2026 identified as a critical year for the company to demonstrate substantial progress in its ambitious goals, particularly in autonomous driving technology [1][2]. Group 1: Concerns About Autonomous Driving - The primary concern for Tesla is its autonomous driving technology, which if it fails to meet market expectations, could undermine the bullish investment logic surrounding the company [1]. - Ross Gerber, a long-time investor, has shifted from being a supporter to a critic, emphasizing that 2026 will be a year where Tesla must show tangible results in its plans [2][9]. - Gerber attributes Tesla's struggles in the autonomous driving sector to its refusal to adopt lidar technology, which has allowed competitors like Waymo to gain a significant market advantage [7][10]. Group 2: Competitive Landscape - Waymo is currently leading the autonomous driving market, having established a strong presence in major U.S. cities, while Tesla is just beginning to deploy its autonomous taxi service [10]. - Gerber believes that Alphabet, Waymo's parent company, is a better investment choice due to its resources and established market position, which puts Tesla at a disadvantage [10]. Group 3: Leadership and Public Perception - Gerber has criticized Elon Musk for being distracted by other ventures, which he believes has negatively impacted Tesla's stock performance and operational focus [5][6]. - The public perception of Musk has also become a concern, as his political involvement has polarized consumer opinions, potentially affecting Tesla's market appeal even if it catches up technologically [10].

Core Viewpoint - The article discusses the competitive landscape of autonomous driving technology, focusing on Xiaopeng Motors' ambitions to surpass Tesla's Full Self-Driving (FSD) capabilities by 2026, as indicated by a public bet made by CEO He Xiaopeng [5][6]. Group 1: Xiaopeng's Strategy and Technology - He Xiaopeng has made a public bet that Xiaopeng's VLA technology will match Tesla's FSD V14.2 capabilities by August 30, 2024, highlighting the competitive nature of the autonomous driving sector [5]. - Xiaopeng's VLA technology is currently not at par with Tesla's FSD V14.2, but the company plans to release VLA 2.0 in the next quarter, which aims to improve its capabilities significantly [6][7]. - The second-generation VLA model will eliminate the "language translation" step, allowing for direct generation of action commands from visual signals, enhancing the vehicle's ability to navigate complex environments [7]. Group 2: Future Projections and Industry Trends - By 2026, Xiaopeng anticipates that its Robotaxi will begin trial operations, with the Ultra model expected to significantly outperform other autonomous driving products in the market [7][8]. - The company is investing heavily in AI and autonomous driving technology, with projected annual R&D expenditures reaching 50 billion yuan, of which 30 billion yuan will be allocated to AI [8]. - He Xiaopeng believes that the next decade will see a larger scale application of L4 autonomous driving, with vehicles becoming "embodied intelligent cars" that integrate with humanoid robotics [8]. Group 3: Competitive Landscape - The competition in autonomous driving is not just about algorithms but also involves data, computing power, and engineering capabilities, as highlighted by Tesla's rapid iteration speed [9]. - The outcome of the public bet will determine whether Xiaopeng can establish itself as a legitimate competitor to Tesla, potentially leading to a reevaluation of the company's market position [9].

Core Insights - RoboX is focusing on embodied intelligence and has entered the robotics manipulation sector, led by researcher Li Hongyang from the University of Hong Kong and Shanghai AI Laboratory [3][4] - The company has formed a research team of several dozen members, covering areas such as VLA, robotics, autonomous driving, and edge computing chips [4] - Li Hongyang's research has significantly advanced autonomous driving technology, particularly through the UniAD framework, which integrates various tasks into a single end-to-end network [6][7] Research Achievements - Li Hongyang's work on the UniAD framework has outperformed state-of-the-art methods on the nuScenes dataset, showcasing its effectiveness in autonomous driving [6] - His previous method, BEVFormer, was recognized as one of the top 100 AI papers in 2022, establishing a benchmark for visual detection in the industry [7] - The team has created a large-scale real robot manipulation dataset called "AgiBot World," which impacts multiple industry scenarios [7] Future Directions - The upcoming paper titled "UniVLA: Learning to Act Anywhere with Task-centric Latent Actions" introduces a task-centric latent action framework that enhances robot strategy learning across different environments [9][10] - UniVLA reduces reliance on labeled data, achieving optimal performance with minimal data in multi-task benchmarks, and supports efficient transfer from internet videos to real robots [10] - The company aims to establish a full-stack self-research route with a vision to enhance few-shot generalization capabilities for humanoid robots in various applications [10][11] Industry Trends - The field of embodied intelligence is gaining traction, with several experts from academia transitioning into this area, indicating a growing interest and investment in the sector [11]

Group 1: Company Performance - Huayi Brothers has reported a cumulative loss of 8.2 billion yuan over the past seven years, with its current market value being less than one-tenth of its peak [3] - In Q3, Huayi Brothers achieved a revenue of 62.6 million yuan, a year-on-year decline of 31.61%, and a net loss attributable to shareholders of 39.5 million yuan [3] - Lululemon's stock price has dropped by 46.40% this year, resulting in a market value loss of approximately 25 billion USD, leading to the resignation of CEO Calvin McDonald [8] Group 2: Industry Developments - The average age of the labor force in China has reached 39.66 years, indicating a gradual maturity in the aging process of the population [2] - The global largest automotive safety testing center has been put into operation in Ningbo, Zhejiang, featuring multiple Guinness World Records [6] - The National Market Supervision Administration has issued guidelines prohibiting car manufacturers from selling vehicles at a loss, aiming to enhance price compliance in the automotive industry [4] Group 3: Strategic Moves - Kweichow Moutai has introduced a volume control policy to alleviate financial pressure on distributors, halting product distribution until January 1, 2026 [4] - SpaceX is reportedly seeking to go public with a target valuation of approximately 1.5 trillion USD, which could make Elon Musk the world's first trillionaire [2] - OpenAI has adjusted its compensation policy to prevent talent outflow by removing the "vesting cliff" for stock options [11]

华见早安之声 请各位听众升级为见闻最新版APP，以便成功收听以下音频。 市场概述 上周五，AI担忧加剧压垮美股，纳指收跌近2%、标普跌超1%，全周均转跌，道指跌落纪录高位，全周仍涨超1%、连涨三周；芯片和AI股重挫，英伟达跌 超3%、领跌科技巨头，芯片指数跌超5%，博通业绩电话会后跌11%，传出数据中心延期的甲骨文跌4.5%、财报后两日跌近15%；特斯拉逆市反弹近3%； 大麻股高涨，Canopy Growth涨54%。 长期美债跌，十年期美债收益率逼近三个月高位。美元指数暂别近八周低位，连跌三周；离岸人民币失守7.05、跌离14个月高位、但全周涨超百点；加密货 币齐跌，比特币盘中跌近4%，以太坊一度跌超6%。 黄金连创逾七周新高，盘中涨近2%后曾转跌；银铜创新高后跳水，期银一度跌超5%，伦铜跌3%、全周转跌；原油两连跌、全周回落超4%，美油收创七个 月新低。 亚洲时段，A股探底回升，创业板涨0.97%，可控核聚变、商业航天领涨，电网设备走强，港股高开高走，恒指、恒科指涨超1%，科技股普涨，有色强势。 要闻 中国11月新增社融2.49万亿元，新增人民币贷款3900亿元，M2-M1剪刀差扩大。 何立峰：2026年 ...

Core Insights - The 15th China Intelligent Vehicle Future Challenge has commenced, focusing on "advanced autonomous driving and embodied intelligence interaction" [1] - The event features top universities such as Xi'an Jiaotong University, Hong Kong University of Science and Technology (Guangzhou), Tsinghua University, and Shanghai Jiao Tong University, showcasing local innovation with Suzhou Institute of Technology's self-developed intelligent vehicle [1] - Embodied intelligence is highlighted as the main focus of the competition, with humanoid robots and quadruped robotic dogs testing the interaction capabilities of intelligent vehicles [1] - The event aims to accelerate the integration of cutting-edge technologies, fostering a collaborative ecosystem of hardware and software in the industry [1] - Since its inception in 2009, the China Intelligent Vehicle Future Challenge has become a cradle for talent cultivation in the autonomous driving sector, training thousands of professionals [1]

// 美洲地区公司要闻 // // 热点头条 // 1.SpaceX：高管已启动华尔街投行甄选程序，为公司首次公开募股（IPO）提供顾问服务。知情人士表示，多家投行定于本周进行首轮提案，这一过程被 称为 "竞标角逐"（bake-off），是这家火箭制造商朝着可能成为 "重磅 IPO" 迈出的最具体步骤。 2.英伟达：消息称英伟达计划于本周举办一场闭门峰会，旨在破解AI时代日益严峻的数据中心电力短缺困局。本月初，摩根士丹利将2025-2028年美国数 据中心累计电力缺口从44吉瓦上调至47吉瓦，相当于9个迈阿密或15个费城的用电量。 // 大中华地区公司要闻 // 1.白鸽在线：赴香港上市获中国证监会备案通知书，由民银资本、中银国际担任联席保荐人。公司作为中国领先的场景互联网保险中介，2024年按总保费 计在中国第三方场景互联网保险中介中位列第一，市场份额为3.4%。 2.银河通用：传已聘请中信、华泰、瑞银负责香港上市事宜，最早可能在明年首季向港交所递交申请，本次IPO估值预计为30至40亿美元。公司主营具身 多模态大模型与通用机器人研发，股东包括宁德时代、美团等战略投资方。 3.澜起科技：获境外发行上市备案， ...

Core Viewpoint - The article highlights various companies' initiatives and collaborations aimed at expanding their international presence and leveraging technology, particularly AI, to enhance their operations and market reach [5][6][8][10][12]. Group 1: Company Initiatives - The video blogger team "影视飓风" has entered the B2B overseas platform Alibaba International Station, utilizing AI Agents to expand into international markets, receiving cooperation intentions from over 30 countries [5]. - The company "智动力" has successfully entered and is servicing key markets in Vietnam and India, establishing strong partnerships and making overseas business a significant part of its operations [5]. - "出门问问" launched the world's first 4G AI recording headset, TicNote Pods, which operates independently of a smartphone and is designed for various dialogue scenarios [5]. Group 2: Collaborations and Partnerships - Temu signed a memorandum of understanding with Belgian postal operator bpost group to enhance cross-border e-commerce supply chain capabilities and logistics systems in Europe and North America [6]. - Riyadh Airlines and Huawei signed a cooperation memorandum to create a new generation of digital aviation ecosystem, focusing on enhancing digital capabilities for seamless travel experiences [8]. - "北斗智联" completed a strategic financing round to accelerate its overseas expansion and product development in AI and low-altitude economy sectors, with a focus on Europe, North America, and Southeast Asia [12]. Group 3: Market Expansion and Investments - "新凤鸣" plans to invest approximately $280 million in a 360,000-ton/year functional fiber project in Egypt, aiming to enhance local textile industry capabilities [10]. - "Airwallex" completed a $330 million Series G financing round, raising its valuation to $8 billion, which will support its expansion in the U.S. and other key markets [10]. - "快造科技" achieved a record-breaking crowdfunding amount for its 3D printer, indicating strong market interest and potential for significant revenue growth [10].

❑ 市场板块行情回顾 汽车行业周报 本周 CS 汽车+0.1%。本周（12 月 7 日至 12 月 13 日，下同）上证 A 指涨跌 幅为-0.3%，深证 A 指涨跌幅为+0.2%，创业板涨跌幅为+2.7%。本周各行业 板块多数下跌，涨幅较大的行业板块为 CS 通信（+5.9%）、CS 国防军工 （+3.6%）和 CS 电子（+2.5%），下跌的行业板块为 CS 煤炭（-3.8%）、 CS 石油石化（-3.4%）和 CS 纺织服装（-2.7%）。 汽车产业链各板块行情：本周，汽车行业二级板块多数上涨，其中摩托车及 其他板块涨幅居前，周涨幅均为+1.7%，汽车服务板块周度有所下跌，周涨幅 为-5.2%。汽车行业三级板块多数上涨，其中摩托车和商用载客车板块涨幅较 大，周涨幅分别为+2.5%和+1.4%，汽车经销商和汽车综合服务板块周度有所 下跌，周跌幅分别为-6.8%和-4.1%。 ❑ 个股行情回顾 汽车板块个股：本周，汽车板块个股上涨居多。其中，涨幅居前的个股有超 捷股份（+39.0%）、华懋科技（+28.5%）和跃岭股份（+21.9%）；跌幅居 前的个股有厦门信达（-13.6%）、嵘泰股份（-10.9%）和隆 ...

Core Viewpoint - The article emphasizes the need for collaboration and innovation in the autonomous driving industry, highlighting the importance of engaging more talented individuals to address the challenges and pain points in the sector [2]. Group 1: Industry Direction - The main focus areas in the autonomous driving field include but are not limited to: product management, 4D annotation/data loop, world models, VLA, large models for autonomous driving, reinforcement learning, and end-to-end solutions [4]. Group 2: Job Description - The positions are primarily aimed at training collaborations in autonomous driving, targeting both B-end (enterprises, universities, research institutes) and C-end (students, job seekers) audiences for course development and original content creation [5]. Group 3: Contact Information - For discussions regarding compensation and collaboration methods, interested parties are encouraged to add the WeChat contact provided for further communication [6].