Core Insights - The smart brand's first plug-in hybrid model, the EHD Super Electric Hybrid, was unveiled on October 28, showcasing advancements in assisted driving technology [1] - The CEO of Yuanrong Qixing, Zhou Guang, emphasized the evolution of assisted driving from traditional "experienced drivers" to AI Agents, indicating a significant trend in the industry [1] - Yuanrong Qixing has delivered nearly 150,000 vehicles equipped with its assisted driving system, demonstrating the engineering maturity and scalability of its solutions [1] Company Collaboration - The partnership between smart and Yuanrong Qixing began in 2022, making smart the first international automotive brand to adopt a "map-free" urban NOA solution [2]

Core Viewpoint - Hangzhou has made a significant investment in AI company Zhipu, completing a strategic financing round exceeding 1 billion RMB to promote technological innovation and ecosystem development of its domestic GLM model [1][4]. Group 1: Investment and Company Formation - Zhipu has established Zhejiang Zhipu Huazhang Technology Co., Ltd. in Hangzhou in 2023, and another company, Zhejiang Zhipu Xinpin Technology Co., Ltd., was formed on February 24, 2023, with a registered capital of 450 million RMB [1][4]. - The main investors in Zhipu's recent financing round include Hangzhou Urban Investment Industry Fund and Shangcheng Capital, both of which are state-owned enterprises [4]. Group 2: Zhipu's Position in the AI Industry - Zhipu is recognized as one of the "Six Little Tigers" in AI, being the first among them to surpass a valuation of 20 billion RMB [6]. - Zhipu is the only domestic company that fully benchmarks against OpenAI, with a comprehensive layout across various model types including foundational, dialogue, code, multi-modal, reasoning models, and AI agents [7]. Group 3: Technological Advancements and Commercialization - Zhipu is leading in the development of AI agents, with a focus on Agentic LLMs, which are expected to be a major technological breakthrough by 2025 [7][8]. - The company has established a new ecosystem for model services, supporting over 700,000 enterprises and application developers, and has achieved over 100% growth in commercial revenue for 2024 compared to 2023 [9][10]. - Zhipu's MaaS platform has seen a 30-fold increase in API annual revenue and a 150-fold increase in daily token consumption [10].