漠河35℃，东三省其他城市也纷纷沦陷，家在沈阳的闺蜜小娴就天天在群里和我发求救信号："麦琪，咱们什么时候带孩子去三亚呀，天气太热，快受不 了了......" 前两天，辽宁发布高温预警，最高39℃，小娴家的空调已经24小时连轴转，楼下便利店的冰镇西瓜被扫荡一空，每天早晨七点半就排起队，场面堪比双十 一。 我一开始还安慰她："咱东北夏天不就那么几天嘛，熬一熬就过去了。" 再后来，小娴居然生气了，直接甩来辽宁省气象台新闻，我才意识到这轮高温"烤"验周日都不一定能结束。 辽宁如此，吉林也未能幸免。 昨天，我看见一条新闻，标题很醒目。 中国最北的北极村都装空调了！漠河气温超35℃！ 一刷朋友圈，我发现吉林长春的亲戚已经举家跑去三亚，亚龙湾的沙滩椅上，一杯冰椰子，一本绘本，孩子在堆沙堡，配文只有四个字：此处清凉。 更有意思的是，我几个南方朋友本来想暑期去哈尔滨体验一把"冰城夏都"的凉爽，结果周一下了飞机，第一件事是买纸巾擦汗，怀疑自己是不是飞错了地 方。 东北热得直冒汗，"东北第四省"海南最近却很凉爽。 不仅天气预报显示，这几天三亚白天气温也就三十度出头，已经在亚龙湾酒店躺平度假的亲戚说，等到了晚上海风一吹，"我靠，居然 ...

Domestic News - China has officially released the international standard ISO 34505:2025 for autonomous vehicle testing scenarios, which outlines evaluation processes and testing methods for autonomous driving systems [5] - By the end of 2027, China aims to have over 100,000 high-power charging facilities nationwide, focusing on scientific planning and construction based on local economic conditions and electric vehicle promotion [6][7] - The "Automotive Intelligent Driving Technology and Industry Development White Paper" has been jointly published, detailing the future development landscape of the intelligent driving industry, including technology evolution and safety systems [9] - The first automotive industry base in Tibet has commenced construction, covering an area of 42 acres with a modern assembly and production facility [10] - NIO's Firefly brand has partnered with HERE Technologies to enhance its electric vehicles' performance through improved mapping and location services [11] - Hong Kong University of Science and Technology and BYD have established a joint laboratory focusing on robotics and intelligent manufacturing [12] - Four-dimensional Map and BAIC New Energy have signed a contract to develop parking software for BAIC's vehicle models [13] - Shenzhou Car Rental has launched the world's first public autonomous car rental service based on Baidu's Apollo L4 autonomous driving platform [14] Foreign News - In June, India's passenger car retail sales reached 297,722 units, marking a year-on-year increase of 2.45%, while commercial vehicle sales grew by 6.6% [15] - Tesla has completed the construction of Project Oasis, a solar-powered supercharging station in California, which will be the largest of its kind globally upon full operation [17] - In June, Brazil's automotive market saw a slight decline in both production and sales, with vehicle sales dropping by 0.6% year-on-year [18] - Waymo, a subsidiary of Alphabet, is set to conduct autonomous driving tests in Philadelphia, deploying a small number of vehicles with safety personnel onboard [19] Commercial Vehicles - FAW Jiefang is accelerating its internationalization strategy by establishing wholly-owned subsidiaries in eight countries, with a total investment of 498 million RMB [20] - Four departments in China have issued a notice to enhance support for truck drivers injured during transport, including medical assistance and occupational injury insurance [21] - Suzhou King Long has unveiled its first European parts center in Luxembourg, marking a significant step in its international operations [22] - XCMG has become the first company in the engineering machinery industry to receive dual certification for compliance management systems, achieving both domestic and international standards [23]

南都讯记者蒋臻"证件上这位是不是你？我们查到你和证件上的人不一致。"7月4日晚，一场针对出租车 违章行为的严打行动在广州塔附近展开，市交通运输部门重点严查议价、拒载、高价收费及无证网约 车、网约车线下揽客5个重点违章行为，以维护广州道路运输市场秩序。据悉，自6月16日开展专项整治 以来(截至7月4日)，共立案查处出租车违章300宗。其中，联合属地公安、交通等管理部门白云机场 （600004）、广州塔、琶醍、珠江道等8个重点区域查处违章209宗，占比70%。 为提升专项整治成效，市交通运输部门主动联合属地公安等部门，持续开展联合整治行动，查处出租车 议价、高额收费、违停、违规拉客等违法违章行为，对于不配合执法检查，甚至拒检冲卡、暴力抗法等 行为将依法严肃处理，做到"人车并治"。一方面增密重点区域和重点时段巡查频次，提高现场"见勤 率"。另一方面，加大非现场执法力度，通过车载视频、卫星定位等科技手段，对重点区域的巡游出租 车、网约车营运情况开展大数据筛查，发现违章线索，坚决予以查处。 "我们高度重视市民群众投诉的跟进处理。"执法人员介绍，"对于乘客通过广州12345政务服务便民热线 等反映的违章线索，将按照'收到 ...

"被资本做局"成了近期的流行词，但要论哪个商业领域最能呈现出典型的资本超前布局特征，无人驾驶 出租车，也就是Robotaxi，一定榜上有名。 一直到现在，几乎所有把Robotaxi作为主营业务的公司都在亏损，但哪怕亏了这么多年，烧了这么多 钱，依然有新的资方持续进入。 6月23日，哈啰出行官宣称，哈啰Robotaxi业务完成超30亿元融资，引入蚂蚁集团、宁德时代 （300750）战略投资。三者通过旗下投资主体共同发起成立的"上海造父智能科技有限公司"已在沪注 册，注册资金为 12.88 亿元人民币。 哈啰方面表示，该公司将专注于L4 级自动驾驶技术研发、安全应用和商业化落地。 哈啰跑步进场 要理解哈啰为何此时布局Robotaxi，首先需要厘清其业务版图。 从企业此前披露的招股书看，其业务主要有两块，一是共享两轮车业务，包括共享自行车和共享电单 车；二是顺风车业务。前者在2020年的收入超过了55亿元，同比2019年增长21.1%，占公司收入的比重 超过了九成，毛利占比接近五成。 但两轮业务增长面临瓶颈，当下的共享单车行业，呈现哈啰、美团和青桔三足鼎立的局面。iiMedia Research的数据显示，2024 ...

丨证券研究报告丨 行业研究丨专题报告丨运输 [Table_Title] 从中美对比和商业化速度，看 Robotaxi 产业链 发展 报告要点 [Table_Summary] 特斯拉 Robotaxi 服务正式在美国奥斯汀南部启动，首批车队由约 10 辆 2025 款 Model Y SUV 组成，被允许在特定区域运营，特斯拉迈出自动驾驶商业化关键一步，此次试运营是对纯视觉 方案的首次公开验证。中国凭借政策协同性与技术优势，商业化进程与美国头部企业并驾齐驱。 2024 年我国出租车及持证网约车总保有量或在 400-500 万台级别，当前国内头部企业运营 Robotaxi 数量不足 3000 台，对应市场渗透率仍不足 1%。当前政策要求 Robotaxi 商业化试点 需多方联合申报，区域运营权具备稀缺性与排他性，运营商有望享受自动驾驶技术迭代红利。 分析师及联系人 [Table_Author] 韩轶超 鲁斯嘉 胡俊文 SAC：S0490512020001 SAC：S0490519060002 SAC：S0490524120001 SFC：BQK468 请阅读最后评级说明和重要声明 %% %% %% %% rese ...

Group 1: Summer Travel Trends - The peak of summer travel bookings has begun, with significant year-on-year increases in bookings for flights, hotels, tickets, and car rentals [1] - Long-distance travel consumption has increased by 7 percentage points compared to the same period last year, with the Northwest, Northeast, and Southwest regions being popular destinations for summer vacations [1] - The family travel segment, particularly with children, constitutes 60% of summer travelers, indicating a strong demand for family-oriented travel experiences [1] Group 2: Booking Insights - Tuniu's latest booking data shows that the first wave of summer travel peaked on June 28, with travel demand expected to continue until mid-August [1] - Domestic long-distance travel and short-distance outbound travel are particularly popular, accounting for 45% and 23% of travel volume, respectively [1] - University students are the fastest-growing demographic among travelers, with a 77% increase in travel volume compared to last year [1] Group 3: Popular Destinations and Activities - Popular attractions for family travelers include Shanghai Disneyland, Beijing Universal Resort, Chengdu Research Base of Giant Panda Breeding, Badaling Great Wall, and Zhangjiajie National Forest Park [1] - Theme parks are leading in popularity among family travel themes, with significant bookings for parks like Chimelong Ocean Kingdom and Shanghai Disneyland [2] - Coastal destinations such as Sanya, Qingdao, and Dalian are favored by families seeking water activities during the summer [2] Group 4: Quality Travel Trends - There is a notable trend towards quality travel, with bookings for high-star hotels increasing by over 20% year-on-year [3] - Hotel packages that include dining and entertainment have seen a 25% increase in booked nights compared to last year [3] - Car rental bookings for self-driving tours have surged by 64% year-on-year, reflecting a growing preference for flexible travel options [3] Group 5: Car Rental and Self-Driving Trends - Car rental platforms report a continued rise in self-driving travel, with domestic orders expected to increase by nearly 40% year-on-year [4] - The demand for mid-to-long-distance self-driving orders has grown by 48%, indicating a shift towards deeper travel experiences [4] - The acceptance of electric vehicles has significantly increased, with orders for pure electric cars projected to surge by 148% [4] Group 6: International Travel Insights - There is a steady increase in outbound travel bookings, with a 13.5% year-on-year growth in self-driving travel abroad since June [5] - Countries like Italy, France, and Sweden have seen substantial increases in self-driving demand, with growth rates of 35%, 40%, and 94% respectively [5] - The senior demographic (60 years and older) shows a growing interest in self-driving travel, with an 8.6% increase in demand compared to younger travelers [5]

证券研究报告 Robotaxi的加速渗透元年！ 智联汽车系列深度之38暨机器人系列深度之29 证券分析师：洪依真 A0230519060003 戴文杰 A0230522100006 樊夏沛 A0230523080004 杨海晏 A0230518070003 黄忠煌 A0230519110001 李国盛 A0230521080003 刘菁菁 A0230522080003 刘洋 A0230513050006 研究支持： 徐平平 A0230123060004 联系人： 徐平平 A0230123060004 2025.7.1 核心观点：Robotaxi的商业化拐点 ◼ 产业阶段：2025或将成为Robotaxi加速渗透元年 ◼ 商业化分析框架：尝试使用五要素判断商业化发展轨迹 www.swsresearch.com 证券研究报告 2 注：Robotaxi为自动驾驶出租车，Robovan为自动驾驶货车 ⚫ Waymo在旧金山出圈，口碑反转、份额反转、加速扩张，Robotaxi行业实质性拐点或到来。特斯拉垂直一体化自研，2024年10月发布Robotaxi和 Robovan，渐进式Robotaxi初步验证，或成为无人驾驶 ...

6月25日，中国领先的科技出行平台曹操出行（02643.HK）正式登陆港交所，成为港股市场最大的科技 出行平台。 尽管上市后股价出现波动，但奔驰、国轩高科、速腾聚创等产业链巨头的基石加持，已然证明其"定制 车生态+ Robotaxi战略" 的差异化价值，也让资本市场和投资者再次深度聚焦这家背靠吉利的明星企 业。 深入剖析曹操出行业务布局与行业变革趋势不难发现，随着定制车规模效应持续释放、Robotaxi战略的 持续落地，这家科技出行平台通过差异化竞争力构建的长期价值，正待在智能出行产业变革中逐步释 放。 波动背后：市场逻辑与行业压力 曹操出行此次全球发售得到梅赛德斯-奔驰、国轩高科、速腾聚创等产业链巨头看好，作为基石投资者 锁定过半份额。但受港股市场整体情绪低迷及出行行业盈利预期影响，公司上市以来股价走势经历波 动。 股价波动的背后，是多种因素交织共振而成的短期结果。 首先是恒生科技指数走势的影响。进入2025年第二季度，在经历了年初因 AI概念带来的强势反弹，并 一度冲至6000点大关，创下2022年4月以来新高后，恒生科技指数自3月中旬起便陷入回调，而4月初开 始的关税冲击加剧了回调的幅度。截至 6 月 ...

近期，无人驾驶出租车（Robotaxi）市场风起云涌，消息不断。 话题度最高的，是特斯拉Robotaxi业务的新进展。6月22日，特斯拉正式启动Robotaxi服务，首批投放的10台Model Y，在美国得州奥斯汀小范围试运营， 接载付费乘客。 但相较于当前已具备较强商业化能力的萝卜快跑和Waymo，同样被列为全球Robotaxi三大家之一的特斯拉显得动作稍慢。此外，其初步运营情况也与公众 预期有些差距，如此次试运营的车辆并非去年发布的、专为Robotaxi打造的CyberCab，试运营期间并非全无人驾驶，而是在副驾配备一名安全员。 尽管较马斯克构建的Robotaxi蓝图来说，试运营期间特斯拉的一系列举动颇为谨慎，流传出的相关体验视频却并非一致好评，但目前来看，市场仍对特斯 拉Robotaxi的前景保持乐观。表现在资本市场上，特斯拉上周一股价大涨8%。 马斯克在社交媒体上表态：Robotaxi成功发布意味着其开始商业化运营，更代表着特斯拉无人驾驶所采用的视觉+端到端模型技术路线已完全跑通。抛开 试运营期间出现的一些问题和市场质疑，拥有雄厚技术实力的特斯拉Robotaxi开始商业化运营，无疑标志着，这一实力玩家 ...

无人驾驶出租车（Robotaxi）这一赛道，又一次热闹起来了。 马斯克筹备了近10年的无人驾驶出租车（Robotaxi）正式在美国德克萨斯州的奥斯汀市启动试点运营。 然而，试运营的特斯拉无人驾驶出租车在技术表现和投放数量上，都未达到马斯克此前的宣传效果，甚至在运营短短两天内就因诸多问题被相关部门通 报。 就在特斯拉宣布正式推出Robotaxi的前两天，国内无人驾驶出租车平台萝卜快跑正加快在东南亚市场布局，并宣布最早今年在新加坡和马来西亚推出其无 人驾驶出行服务，以扩大其全球足迹； 而在特斯拉宣布的后一天，一家名为"上海造父智能"的科技有限公司注册成立。天眼查信息显示，该公司注册资本近13亿，背后站着哈啰出行和蚂蚁集团 等巨头。 图/上海造父智能基本情况 来源/互联网 新能源观截图 新老玩家的争相布局和阶段性进展，使得Robotaxi的"元年"又来了。 但与企业们的积极布局形成鲜明对比的是，消费者对无人驾驶出租车的接受程度并不高。高额的研发和运营投入，也让这一看似热闹的赛道距离真正实现 盈利遥遥无期。 1. Robotaxi席卷全球，猛将频出 不仅如此，与马斯克此前宣传的卓越的FSD技术相反，特斯拉可以说为无人 ...