每经记者｜郑雨航 每经编辑｜段炼 兰素英 ①【三大期指齐涨】道指期货涨0.33%、标普500指数期货涨0.63%、纳指期货涨1.07%。 ②【中概股多数上涨，百度涨12%】中概股盘前多数上涨，百度涨12%，蔚来涨4%，哔哩哔哩、阿里巴巴涨3%，京东、富途控股、小马智行涨2%。 ⑦【Stellantis恢复生产V8动力Ram TRX皮卡，涨超3%】Stellantis盘前涨超3%。据媒体报道，由于美国联邦排放法规有所放宽，加之公司正在执行美国市 场的销售扭转计划，该公司决定恢复生产搭载V8发动机的Ram TRX皮卡。这家汽车制造商表示，2027款Ram 1500 SRT TRX将于2026年底上市，售价约为 10万美元。 ③【明星科技股普涨】明星科技股盘前普涨，美光科技涨超3%；特斯拉涨近2.5%；英伟达、AMD涨近2%；高通、博通涨超1.5%。 ④【黄金、白银大涨】现货白银涨4%，报74.34美元/盎司。现货黄金涨1.54%，报4385.35美元/盎司。 ⑤【蔚来李斌新年全员信：即将迎来第100万辆量产车】1月1日晚间，蔚来创始人、董事长、CEO李斌发布全员信。李斌在信中透露，公司将在近日达成 第100万台量 ...

Core Viewpoint - Tesla is facing significant downward revisions in its delivery forecasts for 2025 and 2026, indicating potential challenges in maintaining growth momentum in the coming years [1][2][5]. Group 1: Tesla Delivery Forecasts - Wall Street predicts Tesla will deliver approximately 440,900 vehicles in Q4 2025, a year-on-year decline of 11%, marking a continuous drop in deliveries for two consecutive years [1][2]. - The overall delivery forecast for Tesla in 2025 is estimated at 1.6408 million vehicles, down nearly 8% from 1.789 million in 2024, which would represent a significant decline after a slight decrease in 2024 [3][4]. - Analysts have drastically reduced their 2026 delivery expectations for Tesla from over 3 million to around 1.8 million vehicles, reflecting growing concerns about the company's short-term performance [5]. Group 2: Factors Influencing Tesla's Performance - The anticipated decline in Q4 2025 sales is attributed to the expiration of the U.S. federal electric vehicle tax credit in September, which previously incentivized purchases and led to a surge in Q3 sales, potentially depleting demand for Q4 [4]. - Tesla has publicly stated that it does not endorse any analyst information or conclusions, emphasizing the objective presentation of data [4]. Group 3: Tesla's Stock Performance - As of December 31, 2025, Tesla's stock has experienced a six-day consecutive decline, dropping over 1% on the last trading day, resulting in a cumulative retreat of approximately 8%, although the stock still saw an annual increase of about 11% [5]. - Tesla's current price-to-earnings ratio is nearing 300, which places significant pressure on the company to fulfill its promises regarding autonomous driving technology [5]. Group 4: SpaceX Developments - SpaceX announced plans to lower the operational altitude of approximately 4,400 Starlink satellites from about 550 kilometers to 480 kilometers to reduce collision risks and manage space debris [6][8]. - This adjustment is part of a major reorganization of the satellite constellation, aimed at creating a safer operational environment and is influenced by solar activity cycles that affect atmospheric density [8]. - The low Earth orbit is becoming increasingly congested, with projections indicating a 190% increase in the number of low Earth orbit satellites over the next decade [8].