于是，他们做了一个当时颇为 " 逆风 " 的选择 —— 把激光雷达直接做成车规级。 尤其来自一家常年低调的公司，更显反差。 图达通的故事要从 2016 年说起。彼时自动驾驶热浪正盛，鲍君威与李义民带队从百度出走创业。长 期深耕传感器与车载计算的他们，看到了更明确的方向：高阶智能驾驶离不开更强的三维感知，而激 光雷达是唯一绕不开的底座。 12 月 10 日，港交所出现了一个 罕见 的场景。 国产激光雷达公司图达通以 De-SPAC 方式登陆港股，发行价 10 港元，开盘便冲上 11 港元，盘中 最高涨超 60% ，市值一度突破 200 亿。在这条竞争激烈到极限的赛道里，这样的表现并不多见， 详情请戳视频 以上就是本期全部内容，如果您想了解更多 最新 企业 动态， 欢迎登录 睿兽分析 查看，解锁 赛道 图谱 以及 行业报告 。 ...

以下文章来源于蚀刻AiTech ，作者蚀刻团队 蚀刻AiTech . 智能驾驶十年老兵，走过四家公司，搞过芯片做过量产，写写行业新鲜事。 期待刻录AI发展的重点时 刻。 原文链接： 蚀刻独家 | 前蔚来智驾高管加盟新公司 点击下方 卡片 ，关注" 自动驾驶之心 "公众号 戳我-> 领取 自动驾驶近30个 方向 学习 路线 >>自动驾驶前沿信息获取 → 自动驾驶之心知识星球 该头部无人配送公司目前正处于发展的快车道。今年10月，公司宣布完成D轮融资，创下中国自动驾驶 领域最大一笔私募融资纪录。目前该公司已实现累计交付车辆突破1万台、业务覆盖全国近300个城市的 规模，正全力杀入即时物流和泛城配市场，加速推进无图自动驾驶技术和端到端大模型的应用。这些技 术正是该高管在蔚来负责的核心领域。他的加入，可以说是该公司为应对下一阶段挑战所做的关键性人 才储备。 加加加加加加加加柱柱柱柱柱柱柱柱哥哥哥哥哥哥哥哥微微微微微微微微信信信信信信信信爆爆爆爆爆爆爆爆料料料料料料料料！！！！！！！！ 自 动 驾驶之心 某前蔚来智驾高管已正式加入某头部无人配送自动驾驶企业，并出任该公司要职。 该高管在加入蔚来前，曾任Momenta高级 ...

Market Overview - The Federal Reserve announced its third interest rate cut of the year and plans to purchase short-term bonds, interpreted as "not QE's QE" [1] - U.S. stock indices closed higher, with small-cap stocks leading the market [1] - Oracle's post-earnings drop exceeded 10%, dragging Nvidia down over 1% in after-hours trading [1] Bond Market - U.S. Treasury yields fell across the board, with the two-year yield dropping over 7.6 basis points [2] - The 10-year benchmark Treasury yield decreased by 4.10 basis points, settling at 4.1468% [11] Commodity Market - Precious metals saw a broad increase, with gold rising 0.53% and silver hitting new highs with a daily increase of over 2% [2][11] - Crude oil experienced a significant rebound, with WTI crude rising over 2.2% from its daily low [2] Real Estate Sector - The real estate sector surged at midday, driven by discussions around Vanke's bond extension and expectations for "mortgage interest subsidies" [3][17] - Various cities in China have introduced home loan interest subsidy policies, indicating a supportive environment for the real estate market [17] Economic Indicators - China's November CPI rose 0.7% year-on-year, the highest since March 2024, while PPI showed an expanded decline [16] - The increase in CPI was primarily driven by a shift in food prices from decline to increase, while the core CPI rose 1.2% year-on-year [16] Company News - Oracle's earnings report showed revenue and cloud business falling short of expectations, with capital expenditures exceeding forecasts by approximately $15 billion, leading to a post-market drop of over 10% [5][21] - Meta is shifting its strategy under Zuckerberg's leadership, moving towards a profit-oriented closed-source AI model with the introduction of Alibaba's Qwen for training [6][22] Industry Trends - The silver market is experiencing historic growth, driven by increased demand in solar energy, electric vehicles, and data centers, with expectations for continued industrial demand over the next five years [4][21] - The autonomous driving sector is projected to reach a market size of $1-1.2 trillion, with a critical cost threshold of $2 per mile identified as a potential inflection point [8]

来源：上海证券报·中国证券网 上证报中国证券网讯（记者 聂林浩）近日，在"看见・中欧基金2026年度投资策略会"上，中欧基金在 科技圆桌环节就2026年的科技投资进行了展望。 中欧基金基金经理代云锋认为，北美市场AI推理侧初步落地商业闭环，让科技投资在今年5月迎来高光 时刻，直接推动AI基建投资驱动力从训练需求转向推理需求。推理侧需求的释放，为行业景气度的长 期逻辑提供了有力支撑。 关于2026年的科技投资，代云锋看好AI应用侧突破。他认为，AI基础设施与智能硬件趋势清晰、可预 测性强，投资核心为跟踪进展并动态修正判断；而人形机器人、自动驾驶等高技术领域的关键性突破有 望催生重大投资机遇。 在他看来，AI应用可关注三大方向：一是消费娱乐领域，继游戏、电商等场景后，AI广告、AI教育等 新场景持续涌现；二是企业经营优化，AI赋能内部流程，降本提效；三是人形机器人、智能驾驶等新 范式、新场景。关于智能驾驶，代云锋关注三大方向：一是整车企业，弹性更大，有望诞生标杆企业； 二是零部件领域，聚焦智能车新增软硬件需求，筛选国内优势供应链企业；三是Robotaxi，其普及或将 催生新商业模式与收益分配机会。 中欧基金基金经 ...

Core Viewpoint - The successful listing of Seyond (图达通) on the Hong Kong Stock Exchange through a De-SPAC process marks a significant milestone for hard technology companies in Hong Kong, showcasing a new pathway for tech firms to access capital markets more efficiently [1][2][10]. Group 1: Company Overview - Seyond, founded by Baokun Wei and Li Yimin in 2016, specializes in laser radar technology, which is essential for advanced driver assistance systems and autonomous driving [3][4]. - The company has developed both 1550nm and 905nm laser radar products, making it the only firm globally capable of mass-producing both types [5][13]. - Seyond's revenue surged by 1341% in 2022, driven by partnerships with major automotive manufacturers like NIO, and it delivered over 230,000 units in 2024, ranking second globally in ADAS laser radar solutions [9][12]. Group 2: De-SPAC Listing Process - Seyond's listing was facilitated by TechStar SPAC, which had raised approximately 1 billion HKD and sought to merge with a high-quality private company [6][8]. - The De-SPAC process allowed Seyond to expedite its entry into the public market, providing a transparent valuation and controlled costs compared to traditional IPOs [2][6]. - The transaction involved over 100 stakeholders, including multiple investors and sponsors, requiring extensive negotiations and coordination to align interests [7][8]. Group 3: Market Context - The Hong Kong IPO market has seen a resurgence, with Seyond's successful listing contributing to a broader trend of high-quality tech companies gaining recognition and valuation in the region [10][11]. - The shift in perception of Chinese technology assets has led to increased interest from global investors, recognizing the capabilities of companies like Seyond in competing on a global scale [11][12]. - The successful debut of Seyond may encourage more tech firms to consider the De-SPAC route for listing, potentially transforming the landscape of capital markets in Hong Kong [2][10].

本报讯 （记者梁傲男）12月7日至12月9日，沙特利雅得CoMotionGLOBAL未来城市出行与创新峰会汇 聚全球产业领袖。轻舟智航在现场展区展现了公司领先的L2+与L4技术产品，公司董事长兼CEO于骞受 邀出席"自动驾驶的未来"主题讨论，与Lucid、Uber、IATR等国际机构代表同台，分享技术路径与全球 布局。 于骞在对话中谈到，轻舟智航的核心优势在于构建了AI驱动的通用自动驾驶平台，以同一技术底座高 效支持从L2+到L4的全场景产品应用。基于此平台，公司已实现近百万台乘用车辅助驾驶搭载量，并在 近30个城市成功开展L4自动驾驶小巴（Robobus）的商业化运营，形成了覆盖"出行+物流"领域的多元 化产品矩阵与可持续商业闭环，成为业内少有的同时实现L2+辅助驾驶与L4级自动驾驶规模化落地的头 部企业。 于骞表示，随着中国智能汽车出海浪潮，轻舟智航正积极推进L2+与L4业务进入欧洲、东南亚、中东等 市场。轻舟智航将携手当地合作伙伴，通过提供L2+辅助驾驶解决方案、Robobus、Robovan等多样化产 品，积极参与各地智能交通体系建设，推动自动驾驶技术融入日常出行与物流服务。 轻舟智航期待与产业界携手 ...

Core Viewpoint - Wanma Technology (300698) anticipates an increase in expenses in the first half of 2025, primarily driven by sales and R&D costs [1] Group 1: Expense Growth - The increase in expenses is attributed to the expansion of sales and R&D investments [1] - Sales expenses are rising due to the company's efforts in expanding its industrial control, data center, and State Grid ring network box businesses [1] - R&D expenses are slightly increasing as the company focuses on enhancing its R&D platform to improve industry competitiveness [1] Group 2: Business Expansion - The company is actively exploring new markets and scenarios, particularly in the communication sector [1] - In the vehicle networking segment, the company is accelerating its overseas market expansion and targeting customers in autonomous driving scenarios such as Robotaxi and Robovan [1]

1. 美国三大股指期货小幅下跌，纳指期货跌0.22%，标普500指数期货跌0.12%，道指期货跌0.08%。 2. 欧股主要指数涨跌不一，德国DAX指数跌0.41%，英国富时100指数涨0.27%，法国CAC指数跌 0.24%，欧洲斯托克50指数跌0.14%。 3. 美联储将于北京时间次日凌晨3:00公布利率决议和经济预期摘要，随后鲍威尔将召开货币政策新闻发 布会。 16. 阿里千问公测23天月活突破3000万，开放四项新功能。 4. 特朗普据称将启动美联储主席终极面试，白宫经济顾问哈塞特将与其他三位候选人角逐这一职位。 5. 比尔·盖茨警告AI估值泡沫：高竞争将淘汰部分公司，但技术将深刻造福社会。 6. 橡树资本联席创办人马克斯：AI技术需求增长不可预测，投资者行为具投机性质。 18. GE Vernova对明年营收增长乐观，上调股票回购授权额度至100亿美元。 (格隆汇) 7. SpaceX据报计划明年IPO，募资远超300亿美元，估值或达1.5万亿美元。 8. 英伟达获准对华出口后，中国据报将限制使用英伟达H200芯片。 9. 英伟达据报开发定位验证软件，将率先应用于Blackwell芯片。 10. 亚 ...

L4级别自动驾驶直接上路进入到真实的交运领域，这种对创新的包容，存在着明显的自由悖逆风险。 最近，一辆自动驾驶出租车在湖南株洲发生伤人事故。相关视频显示，标识为"哈啰自动驾驶"的事故车 辆，将伤者卷入车底，市民和民警尝试抬车救人。这可能是国内自动驾驶出租车首次出现的伤人事故。 近年来自动驾驶技术取得突出进展，国外的Waymo、FSD和Cruise，及国内的萝卜快跑、哈啰，都将自 动驾驶技术应用到了出租车领域。自动驾驶也是目前几乎所有车企都已或想要涉足的领域，因为这种移 动堡垒给企业带来的场景应用和数据是海量级的，其增值业务和衍生业务的可拓展空间是看得见的商业 应许之地。 同时，作为网联车，哈啰自动驾驶的一次交通事故，可能并非单纯的单列事件，而是一种系统缺陷暴 露，因为基于目前的自动驾驶技术，即便是端到端技术架构，其系统对环境的感知—应对，依然做不到 如人一样思考和变通，人可以在单列事件中迅速学到经验，避免再犯，但目前自动驾驶技术对此并不容 易做到，或者即便技术上可以做到，但若算力等配置不足，也很难做到即时响应和即时学习，这就是为 何不论是Waymo、FSD，还是百度的萝卜快跑等，其Robotaxi开始投入市场 ...

Group 1 - Goldman Sachs released a report on the outlook for the U.S. automotive and industrial technology sectors for 2026, indicating that both sectors outperformed the S&P 500 index in 2025, with industrial tech stocks expected to continue leading the market due to cyclical recovery and long-term growth opportunities in AI, energy infrastructure, and automation [1][3] - In 2025, the median stock price increase for automotive OEMs and suppliers was 23%, while industrial tech stocks saw a median increase of 63%, compared to a 16% rise in the S&P 500 index, reflecting strong end-demand trends and valuation multiple expansion [2] - For 2026, Goldman Sachs anticipates further interest rate cuts, which will support valuations, with a projected real GDP growth of 2-2.5% and a cyclical recovery in industrial tech stocks driven by the end of the inventory cycle and ongoing growth opportunities in data centers, AI, and automation [3] Group 2 - The automotive sector is advised to adopt a selective strategy due to historical production levels and expected modest growth in sales, with global automotive production and sales projected to maintain low single-digit growth in 2025 and 2026 [4] - Key automotive stocks recommended include General Motors (GM.US), BorgWarner (BWA.US), and Visteon (VC.US), as the sector benefits from declining interest rates, which will primarily enhance product pricing structures rather than sales growth [4] - Goldman Sachs highlighted the strong performance of the data center and AI infrastructure markets in 2025, with a focus on companies like Flex (FLEX.US), Jabil (JBL.US), and Vertiv Holdings (VRT.US) that are expected to see profit margin improvements due to new technologies and scale effects [5] Group 3 - In the autonomous driving and physical AI sectors, the commercialization of autonomous driving technology is accelerating, with the number of operational cities for leading companies increasing from 3 to 8 in 2025, and projected to reach around 20 by the end of 2026 [5] - For Tesla (TSLA.US), the company has a significant cost advantage in the autonomous taxi market, with software adaptability and mileage being key to profitability, while its focus on humanoid robots is expected to take several years for large-scale deployment [6] - Tesla's Optimus humanoid robot program is set to launch its third-generation production in 2026, with plans for fourth and fifth-generation products to be introduced gradually from 2027 to 2028, aiming for an annual production capacity of 1 billion units [6]