(海尔智慧楼宇智控总经理周威斌) 从"凭经验调控"到"AI精准管理" 双碳目标推动下，商用建筑用户正面临双重挑战：既要满足日益严苛的节能指标，又要破解人工管理效率低下的痛点。对于企业管理者而言，该如何让中央 空调系统既省电又省心？ 4月28日，海尔智慧楼宇在中国制冷展现场发布了行业首个高效机房暖通智能体，并展示了行业领先的全场景AI智控方案。对于用户来说，这相当于让建筑 学会主动思考，可以根据环境及数据信息等智能联动硬件机组运行，自主判断如何运行才节能。同时，AI暖通智能体还能为用户24小时在线答疑，专业度 堪比工程师，为用户带来省电、省心的双重体验。 从"被动运维"到"主动预判" 省力省心的同时，主要是省钱。高效机房暖通智能体将AI助手部署于企业本地服务器，不仅能避免能源数据云端传输风险，还能提升AI系统响应速度20%。 可实时捕捉负荷波动并动态调节水温、风量，智慧调节运行模式。 此外，AI助手中还喂养了大量暖通专业知识与经验，当管理人员提问"如何降低夏季峰值负荷"时，系统可快速调出系统中的相关信息，结合实时数据给出最 佳方案，避免能耗浪费，减少支出。 传统中央空调的能耗管理，往往依赖人工定时启停或经验性调 ...

【WitsView整理】 4月27日，TCL电子公布2025年第一季度全球TV出货量数据。 TCL电子表示，凭借"TCL+雷鸟"双品牌与"中高端+大屏化"战略实施，结合Mini LED、量子点、 AI智能等前沿技术，TCL电子2025年第一季度全球TV出货量达651万台，同比增长11.4%；受益于 公司TV业务中高端产品占比提升，带动公司TV销售额同比增长22.3%。 二零二五年第一季度出货量数据（未经审计） 单位：台 | | 二零二五年第一季度 | 二零二四年第一季度 | | --- | --- | --- | | 大尺寸显示 -- TCL TV全球出货量 | 6,507,078 | 5.840.635 | | - 65吋及以上TCL TV全球出货量占比 | 27.7% | 23.2% | | - 65吋及以上TCL TV中国市场出货量占比 | 54.7% | 51.2% | | - 65吋及以上TCL TV国际市场出货量占比 | 19.6% | 14.7% | | - 75吋及以上TCL TV全球出货量占比 | 13.7% | 10.8% | | -75吋及以上TCL TV中国市场出货量占比 | 34.9 ...

Core Viewpoint - Manus is recognized as the "world's first general-purpose AI agent product," capable of autonomously delivering finished products based on simple text requests from users [2]. Group 1: Manus and Its Impact - Manus generated significant interest with products like the "Oval Office Duel: Zelensky Simulator," sparking new imaginations in AI gaming and products [3]. - Due to regulatory constraints, access to Manus has been restricted domestically, requiring an invitation code for login [5]. - Inspired by Manus, companies like Baidu, ByteDance, Kortix-AI, and MainFunc are rapidly launching their own general-purpose AI agent platforms [6]. Group 2: Baidu's Heartbeat App - At the Create 2025 Baidu AI Developer Conference, Baidu launched the Heartbeat App, which can autonomously plan and collaborate with multiple agents based on user instructions, similar to Manus [7]. - The development of Heartbeat App was accelerated by the popularity of Manus, with the team working overtime to create it within a month [9]. - Heartbeat App is fully compliant with regulatory requirements as it utilizes domestic large models and is currently available on Android, with iOS approval pending [9]. Group 3: Comparison of AI Agents - A comparison of the programming capabilities of Heartbeat App, Manus, and ByteDance's Kouzi Space revealed that while all could understand instructions, the execution quality varied significantly [15][22]. - Manus took 32 minutes to complete a task but produced a polished product that met the requirements, while Heartbeat App and Kouzi Space struggled with the visual elements [24]. - In a test for information retrieval, Manus proactively asked for details about the desired iPhone 16 model, while Heartbeat App and Kouzi Space provided generic pricing without further inquiry [30]. Group 4: Challenges and Opportunities in AI - Despite the proliferation of general-purpose AI agents, many remain in beta testing due to high operational costs and token consumption, with only Heartbeat App currently available to users [11]. - The MCP (Model Context Protocol) is seen as a catalyst for the maturity of AI applications, allowing large language models to connect with external data sources and tools [54][55]. - The integration of MCP has enabled Heartbeat App to utilize real-time data from Baidu Maps, enhancing its functionality [56]. Group 5: Industry Landscape and Future Outlook - The AI industry is transitioning from entertainment-focused applications to productivity tools with commercial value, as evidenced by the recent surge in general-purpose AI agents [10]. - Baidu's strategy focuses on empowering developers and expanding the AI ecosystem, recognizing the limitations of its current resources compared to competitors like Tencent and ByteDance [67][68]. - The competition landscape for general-purpose AI agents remains unclear, but the industry is moving towards realizing the practical value of AI technology [70].

近日，微软发布了2025年度《工作趋势指数》报告，该研究调查了来自31个国家和地区的3.1万名受访者，并整合了LinkedIn就业市场数 据，分析了AI和数字化转型对全球工作环境和组织结构的深刻影响，并预测了一个新的概念——"前沿企业"（Frontier Firms）。这些公 司利用AI助手和人类智能的融合，推动了快速发展、灵活运营和价值创造。 报告指出，这些通过AI智能体来管理数字劳动力的"前沿企业"正在崛起，而这类公司的员工最不担心被AI"抢饭碗"。微软预测，在未来 两到五年内，大多数企业都将向这个方向演进。 该报告统计关键发现： 82%的企业领导者计划在未来12-18个月内通过数字员工实现业务扩张； 33%的企业领导者考虑通过引入AI来减少员工人数； 53%的企业领导者要求提升生产率，但80%的员工表示他们已经身心俱疲，总是感觉时间紧迫。微软365应用数据显示，员工 的工作平均每两分钟就会被会议、邮件或消息提醒打断一次； 46%的企业领导者表示，他们的公司正在使用智能体全面自动化工作流程和业务流程； 01 "前沿企业"具备五大特征 "前沿企业"正在展示AI所能实现的广阔前景，这些企业具备五个显著特征：全 ...

Group 1: Event Overview - The 2025 Shanghai International Automobile Exhibition opened with the theme "Embrace Innovation, Win the Future," attracting nearly 1,000 exhibitors from 26 countries and regions, marking the largest scale in history [1][2] - The exhibition covers over 360,000 square meters, featuring more than 100 global debut models and hosting 193 press conferences, with an expected total visitor count of 1.3 million [1] Group 2: Industry Trends - The exhibition highlights the automotive industry's shift towards intelligent mobility, showcasing advancements in assisted driving and smart cockpit technologies that enhance consumer experiences [1][3] - Nearly 80% of the new vehicles unveiled are electric models, indicating car manufacturers' accurate predictions of market trends [3] Group 3: AI Integration - AI technology is deeply integrated into the automotive industry, with significant applications in smart vehicles, as noted by industry leaders [3][4] - Companies like Xiaopeng Motors are developing AI systems that aim to surpass human capabilities in complex reasoning and driving assistance [5] Group 4: International Participation - The number of foreign visitors at the exhibition has significantly increased, with over 2,000 overseas business representatives attending on the first day [6] - Foreign automakers such as Volkswagen, Mercedes-Benz, and BMW are actively engaging in the Chinese market, emphasizing their commitment to innovation and local development [7][8] Group 5: Future Outlook - The exhibition is seen as a milestone for China's transition from a major automotive nation to a strong automotive power, providing a "Chinese solution" for global industry transformation [8]

近期，蝴蝶效应（Butterfly Effect），即创新平台Manus的母公司，宣布成功募集到一笔高达7500万美 元（折合约5.47亿元人民币）的资金，这一轮融资由硅谷著名风投Benchmark主导。 随着融资消息的公布，Manus迅速成为公众关注的焦点。在各大自媒体平台的广泛传播下，Manus的品 牌影响力迅速扩大，并带动了A股市场相关概念企业的股价上涨。 Manus的核心竞争力在于其便捷的一键式网站搭建和任务完成功能。然而，自Manus面世以来，多家科 技巨头也迅速推出了类似产品，市场竞争愈发激烈。 回顾融资历程，蝴蝶效应凭借Manus AI项目在2022年7月首次获得真格基金的天使轮投资，随后在2023 年1月迎来红杉中国和腾讯投资的A轮融资。而在2024年12月，腾讯投资再次领投了B轮融资，显示出市 场对蝴蝶效应及其创新技术的持续看好。 据悉，蝴蝶效应计划利用新一轮融资扩大用户基础。由于Manus在爆火后受到服务器容量和运营成本的 限制，公司目前采用Anthropic的Claude AI模型和其他工具，每项任务需向Anthropic支付2美元。为了应 对这一挑战，蝴蝶效应正寻求通过融资扩大规模，提 ...

Investment Rating - The report maintains a positive outlook on the automotive sector, indicating a continued bullish sentiment towards the industry [3][46]. Core Insights - The automotive sector is experiencing a rebound, with a week-on-week increase of 10.8% in passenger car insurance registrations, signaling a recovery in demand [2][46]. - The report highlights the importance of AI integration and the dual focus on innovation and traditional growth strategies within the automotive industry [3]. - Key automotive companies such as Tesla, BYD, and Great Wall Motors have shown varying performance in Q1 2025, with Tesla reporting a revenue of $19.335 billion, a decrease of 9.2% quarter-on-quarter [2][3]. Summary by Sections Weekly Review - The SW automotive index increased by 4.9% this week, with commercial passenger vehicles leading the gains at +6.6% [2]. - Notable stock performances include NIO, Nastec, and Chuanfeng Power, which have shown significant price increases [2][24]. Industry Changes - Tesla's Q1 2025 revenue was $19.335 billion, down 9.2% quarter-on-quarter, while BYD reported a revenue of 170.4 billion yuan, up 36% quarter-on-quarter [2][3]. - The report anticipates a strong demand for passenger vehicles due to new scrappage policies, projecting a retail sales volume of 23.83 million units in 2025, a year-on-year increase of 4.7% [47][48]. Market Trends - The report emphasizes the ongoing competition in smart driving technology, predicting that L3 automation will see significant adoption among mainstream automakers by 2025 [50]. - The penetration rate of new energy vehicles is expected to reach 62% by 2025, reflecting a growing trend towards electrification in the automotive market [48][51]. Stock Recommendations - The report suggests a focus on companies that are leading in AI and electrification, recommending stocks such as Xpeng, Li Auto, and BYD for A-shares, and NIO for Hong Kong shares [3][46].

公司报告 | 年报点评报告 垒知集团（002398） 证券研究报告 业绩短期承压，积极分红回购回报股东 业绩短期承压，积极分红回购回报股东 公司发布 24 年年报，全年实现收入/归母净利润 26.17/0.49 亿元，同比 -14.43%/-68.99%，全年实现扣非归母净利润 0.27 亿元，同比-77.95%。其 中 Q4 单季度实现收入 7.68 亿元，同比-6.57%，实现归母净利润/扣非归母 净利润-0.47/-0.53 亿元，同比增亏。公司拟向全体股东每 10 股派发现金 红利 0.80 元，合计派发现金股利约 5506 万元，分红率高达 111.8%。公司 于 24 年亦实施股份回购，累计回购 2168.82 万股，并已注销 1192.85 万股， 剩余 975.97 万股拟用于后续员工持股计划或股权激励。 双主业协同推进，成本优化+出海布局显韧性 公司 24 年综合技术服务业务实现营业收入同比-21.80%达 3.29 亿元，实现 净利润 3792.25 万元。受益于成本控制（营业成本同比下降 28.74%），毛利 率同比+6pct 达 38.60%。24 年公司重大工程及交通工程检测业务实现 ...

证券研究报告 汽车周观点： 4月第3周乘用车环比+10.8%，继续看好汽车板块 证券分析师 ：黄细里 执业证书编号：S0600520010001 联系邮箱：huangxl@dwzq.com.cn 2025年4月27日 请务必阅读正文之后的免责声明部分 核心结论 注：若无特殊说明，"本周"均代表2025.4.21-2025.4.27 2 （ ◼ 本周复盘总结：四月第三周交强险37.8万辆，环比上周/上月周度+10.8%/-19.9% 。 本周SW汽车指数+4.9%，细分板块涨跌幅排序: SW商用载客车(+6.6%)＞ SW汽车零 部件(+5.7%) > SW汽车(+4.9%)>SW乘用车(+3.9%)>SＷ商用载货车(+3.85%) > 重 卡指数(+3.79%) >SW摩托车及其他(+2.6%) 。本周已覆盖标的蔚来-SW、耐世特、 春风动力、长华集团、爱柯迪涨幅较好。 ◼ 本周团队研究成果：外发深度报告《看好Robotaxi商业化落地拐点已至》；银轮股份、 拓普集团、松原安全、伯特利2024年报点评；瑞鹄模具、旭升集团2025年一季报点评。 ◼ 本周行业核心变化：1）特斯拉2025Q1实现营收193.35亿 ...

Group 1 - The core point of the news is that Butterfly Effect, the parent company of Manus, successfully completed a new financing round amounting to $75 million, which will primarily be used to explore AI systems to replace human tasks [1][2] - The financing was led by Benchmark, a well-known venture capital firm in Silicon Valley, and included participation from existing investors [1] - Manus has gained significant attention and market traction, leading to a rapid increase in related A-share concept companies following its launch [1] Group 2 - Manus AI plans to utilize the new funding to expand its user base and services, particularly in international markets such as the US, Japan, and the Middle East [2] - The company faces operational limitations due to server capacity and costs, with an average task costing $2 to process using Anthropic's Claude AI model [2] - Manus AI intends to establish a new office in Japan to facilitate its overseas market expansion and separate domestic and international operations [2]