规模化量产是检验企业综合实力与市场认可度的核心标准。自2025年4月发布以来，地平线HSD迅速成为主流车企布局城区辅助驾驶的共识之选。全球首搭 车型星途ET5以"超人反应，类人思考，拟人控车"的全场景辅助驾驶体验赢得市场关注，目前已全面开启预售，将于11月28日正式上市。地平线深度赋能的 另一款车型深蓝L06，全系标配激光雷达和征程6，首发搭载地平线、深蓝与长安三方共创的DEEPAL AD Max系统，已于11月18日正式上市。在广州车展期 间，星途ET5、深蓝L06、风云T9L、iCAR V27四款车型还联袂亮相"地平线智驾科技畅行俱乐部-广州站"活动，直观展现"城区辅助驾驶人人可享"的发展图 景。 地平线称，在征程家族达成千万量产后，公司进一步提出未来3-5年实现HSD千万量产的目标，通过持续释放的规模化效应，加速高阶辅助驾驶的普惠进 程。 11月21日开幕的广州车展上，搭载地平线HSD城区辅助驾驶系统及征程®6P的全新合作车型风云T9L与iCAR V27正式亮相，标志着地平线HSD城区辅助驾驶 系统全面进入规模化量产新阶段。此前，星途ET5已成为全球首搭地平线HSD及征程6P的车型。 作为智能驾驶领域的 ...

Group 1 - The current market has weak expectations for automotive stimulus policies and total production and sales volume for next year, indicating a weakening of the automotive cyclical attributes, while technology and emerging growth directions are the core focus [1] - Xiaopeng Motors' Technology Day showcased the second-generation VLA large model, Robotaxi, and humanoid robot Iron, which boosted market expectations. By 2026, with the iteration and mass production of technologies like Tesla's FSD V14, Robotaxi, and Optimus, the automotive and robotics sectors are expected to experience a turning point in industry trends, leading to a potential revaluation of the technology attributes of automotive stocks [1] - The Hong Kong Automotive ETF (520720) tracks the Hong Kong Stock Connect Automotive Index (931239), which selects listed companies involved in vehicle manufacturing, components, and intelligent driving from the Stock Connect range. This index reflects the overall performance of listed companies related to the automotive industry and features high R&D investment and growth characteristics, with the vehicle sector accounting for over 60% of its weight, demonstrating strong market elasticity and international characteristics [1] Group 2 - The Hong Kong Automotive ETF (520720) can be traded directly through A-share accounts without the need to open a Stock Connect account, effectively addressing the pain point of ordinary investors lacking investment tools [1]

【观网财经丨智能早报 11月24日】 月球制造+质量投射器，马斯克瞄准每年100太瓦太空能源产能 今天，被称为"国产GPU第一股"摩尔线程在科创板发行，114.28元/股的发行价也创下了今年A股IPO市 场的最高发行纪录，意味着投资者如果中一签（500股），要缴款57140元。之前，今年以来发行价最高 的新股是登陆沪市主板的天有为，发行价93.5元/股。 传毫末智行已停工解散 有知情人士爆料称，由长城控股，高瓴、高通等投资的智驾公司毫末智行突然通知：员工11月24日起不 用到岗上班，赔偿方案尚未公布。公开信息显示，毫末智行成立于2019年11月，前身为长城汽车智能驾 驶前瞻部，曾是国内首个实现自动驾驶技术量产的企业，其业务涵盖乘用车智能辅助驾驶、末端物流自 动配送车及智能硬件三大领域。其核心产品HPilot系统搭载超20款车型，2024年用户智驾里程突破2.5亿 公里，还曾上榜《胡润全球独角兽榜》。 Meta隐瞒社交媒体危害心理健康的"因果"证据遭起诉 11月24日，美国多个学区起诉Meta及其他社交媒体平台的集体诉讼中，曝光的完整诉讼文件显示，该 公司在发现旗下Facebook和Instagram这两款产品 ...

Group 1: Nuclear Fusion Research - China has launched an international scientific program in the field of nuclear fusion, unveiling the BEST research plan aimed at igniting the "artificial sun" [1] - The BEST device, as the next-generation "artificial sun," is set to conduct deuterium-tritium burning plasma experiments by the end of 2027, with a goal of achieving fusion power output between 20 megawatts and 200 megawatts [1] - The research aims to demonstrate energy output exceeding energy consumption, showcasing the potential for fusion energy generation [1] Group 2: Domestic GPU Market - The company Moole Technology, known as the "first domestic GPU stock," has launched its IPO on the Sci-Tech Innovation Board at a price of 114.28 yuan per share, marking the highest IPO price in the A-share market this year [2] - Investors need to pay 57,140 yuan for a single lot of 500 shares, indicating strong market interest [2] Group 3: Autonomous Driving Industry - The autonomous driving company Haomo Technology, backed by Great Wall Motors, Hillhouse Capital, and Qualcomm, has reportedly ceased operations and notified employees not to report to work starting November 24 [3] - Established in November 2019, Haomo was the first in China to achieve mass production of autonomous driving technology, with its HPilot system deployed in over 20 vehicle models [3] - The company had projected to surpass 250 million kilometers of autonomous driving mileage by 2024 and was listed in the Hurun Global Unicorn List [3] Group 4: Social Media and Mental Health - Meta is facing a lawsuit from multiple school districts in the U.S. for allegedly concealing evidence of the negative impact of its social media platforms, Facebook and Instagram, on users' mental health [4] - The lawsuit claims that Meta halted internal research after discovering causal evidence linking its products to adverse mental health effects [4] Group 5: Space Energy Production - Elon Musk has announced plans for the Starship to potentially deliver around 300 gigawatts of solar-powered satellites annually, with a possibility of reaching 500 gigawatts [5] - Musk stated that with lunar manufacturing combined with mass drivers, an energy output exceeding 100 terawatts per year could be achieved [5]

Core Viewpoint - Changsha is emerging as a potential "global R&D center," leveraging its affordable housing, strong consumer spending, and a growing innovation ecosystem [1][3][29]. Group 1: Economic and Consumer Landscape - Changsha has a low housing price-to-income ratio, with average housing prices around 10,000 yuan, making homeownership accessible for families [1]. - In 2024, nearly 70% of Changsha residents' disposable income will be spent on consumption, ranking first among 27 "trillion-yuan cities" in consumption structure index [1]. - The city has a vibrant nightlife and a thriving consumer culture, with popular brands and high foot traffic in commercial areas [1][2]. Group 2: Innovation and R&D Growth - In June 2023, the Hunan provincial government announced plans to establish Changsha as a global R&D center, leading to rapid advancements in the tech sector [5]. - Changsha ranked 9th in the "National Innovation City Innovation Capability Evaluation Report 2024," achieving its best historical performance [5]. - The city improved its global ranking to 23rd in the "Nature Index - Research Cities 2024," an increase of 11 places from 2022 [5]. - As of May 2023, Changsha has 3,823 R&D institutions, nearly doubling from the previous year, and hosts 68 central enterprises and 201 Fortune 500 companies [5]. Group 3: Talent and Education - Changsha is home to three 985 universities, including the National University of Defense Technology, contributing to a strong talent pool [15][19]. - The city has seen a net inflow of over 3 million people in the past decade, including a significant number of high-level talents [19]. - Various incentives are in place to attract and retain talent, including substantial financial support for leading scientists and streamlined residency processes for graduates [19][20]. Group 4: Industrial Strength - Changsha's engineering machinery industry exceeds 250 billion yuan, ranking first in China and among the top three globally [23]. - The city has developed significant industrial clusters in sectors such as energy storage materials, electronics, and automotive components [23][24]. - The local government has increased annual funding for basic research by 40%, aiming to enhance the overall R&D investment intensity to 3.3% [27]. Group 5: Strategic Vision - The establishment of Changsha as a global R&D center is seen as a crucial step for developing new productive forces and modernizing the industrial system [28]. - The city aims to balance its dual goals of becoming a global R&D center and an international consumption center, positioning itself for future growth [30][31].

在不久前发布的"十五五"规划建议中，"新型工业化取得重大进展"被置于"十五五"时期经济社会主要目 标中的显著位置。新型工业化"新"在哪儿？人工智能无疑是重要抓手。"十五五"规划建议强调，全面实 施"人工智能+"行动，抢占人工智能产业应用制高点。 "人工智能正在覆盖千行百业，而数据是智能化的前提与基础。"湖南中南智能装备有限公司董事、湖南 省智能制造协会会长高狄表示。该公司研发团队采集海量数据，攻克传统纺织行业人工检测痛点，推出 具有完全自主知识产权的布匹瑕疵智能检测系统，误检率低于0.1%，已在全国50多条生产线推广，半 年内实现产值4000余万元。 工业和信息化部党组书记、部长李乐成近日撰文指出，将牢牢把握智能化与工业化交汇融合的历史机 遇，锚定实现新型工业化这一战略目标，推动人工智能创新与制造业应用"双向赋能"，一端抓技术供 给，一端抓赋能应用，推动人工智能产业高质量发展，全方位、深层次、高水平赋能新型工业化。 近日，中国证券报记者跟随工业和信息化部"新型工业化调研行"走进湖南长株潭城市群，这场以人工智 能赋能为核心的产业变革影响正酣。作为中部地区先进制造业的核心阵地，长株潭产业集群以智能化为 支点，撬动 ...

中国汽车产业从电动化领先加速向智能化决胜转型，智驾发展步入"深水区"。在此关键节点，地平线HSD城区辅助驾驶系统正式进入规模化量产的新阶段。 据「TMT星球」了解，继全球首搭地平线HSD及征程®6P的星途ET5后，全新合作车型风云T9L与iCAR V27在11月21日开幕的广州车展上正式亮相，两款新 车同样搭载地平线HSD城区辅助驾驶系统和征程6P。 地平线城区辅助驾驶系统HSD搭载了"智驾六代机"征程6P，是当前可获得的辅助驾驶最强计算方案。凭借560 TOPS的超强算力和多核异构计算资源，征程 6P可支持端到端、VLA、VLM等辅助驾驶大模型高效落地。基于征程6P的高效计算支持，地平线HSD采用一段式端到端架构，融入强化学习能力，具备系 统时延低、防御性驾驶能力强、横纵向丝滑控车、持续自我进化等核心优势，大幅提升辅助驾驶的安全性、高效性和舒适性。 规模化量产是检验企业综合实力与市场认可度的关键标准。地平线HSD自2025年4月份发布以来迅速成为主流车企布局城区辅助驾驶的一致选择。全球首搭 地平线HSD及征程6P的星途ET5，为用户带来"超人反应、类人思考、拟人控车"全场景辅助驾驶体验，目前已全面开启预售， ...

Group 1 - The sudden suspension of operations at Haomo Technology, a subsidiary of Great Wall Motors, affects approximately 200 employees, with no clear timeline for resumption [4] - Xiaomi's Vice President clarified that rumors regarding a fatal accident involving Xiaomi vehicles are false, urging the public not to spread misinformation [4] - Nongfu Spring's founder, Zhong Shanshan, donated 100 million yuan to establish an education fund, contributing to a total of 1.42 billion yuan raised by various enterprises for local education [6] Group 2 - The introduction of the C7 driver's license for low-speed electric vehicles has been denied by traffic management authorities in Shanghai and Guangzhou, despite media speculation [8] - AMD's CEO, Lisa Su, expressed confidence in the AI market's growth, stating that under-investment poses a greater risk than over-investment, with the AI and data center market projected to reach 1 trillion USD by 2030 [9] - Xiaomi clarified that a recent fire incident in its battery production line was due to operational errors during equipment testing, with no injuries reported [10] Group 3 - Xibei restaurant chain has reduced prices on nearly 40 menu items by 5% to 20%, coinciding with the opening of a new location in Nanjing [12] - OpenAI's CEO, Sam Altman, warned of potential economic challenges due to Google's advancements in AI, while maintaining confidence in OpenAI's competitive edge [12] - Insurance companies in China are developing specialized insurance products for humanoid robots to address risks associated with their deployment in public and private sectors [13] Group 4 - Chang'an Automobile plans to release its first vehicle-mounted robotic component in Q1 2024 as part of its strategy to integrate robotics into various applications [15] - The UK government announced an additional 1.3 billion GBP (approximately 121.09 billion yuan) in electric vehicle subsidies to promote zero-emission transportation [15] - Domestic semiconductor company, Xintai Technology, completed a C+ round of financing to support the production of automotive-grade chips and the establishment of a domestic supply chain [16] Group 5 - Fengfei Aviation launched a zero-carbon eVTOL water airport, expanding low-altitude infrastructure to water bodies for various applications [17] - The low-altitude economy market in China is expected to reach 1.5 trillion yuan by 2025, driven by significant growth in the low-altitude equipment sector [21] - China's film industry has surpassed 46 billion yuan in annual box office revenue for 2025, with expectations for further growth during the holiday season [21]

早 报 精 选 1、 美国政府据称正考虑允许英伟达对华出售H200芯片。 2、涉及AI、芯片等，16只硬科技主题基金获批。 4、"国产GPU第一股"摩尔线程即将登陆科创板，今日启动申购。 5、长鑫存储发布DDR5内存新品，最高速率达8000Mbps。 宏 观 新 闻 1、 11月21日，中国常驻联合国代表傅聪致函联合国秘书长古特雷斯，就日本首相高市早苗涉华错误言行阐明中国政府立场。该函 将作为联合国大会正式文件，向全体会员国散发。 2、11月18日至20日，中美两军在美国夏威夷举行2025年度中美海上军事安全磋商机制第二次工作小组会议和年度会晤。双方以两 国元首重要共识为引领，在平等和尊重的基础上，进行了坦诚、建设性交流，主要就当前中美海空安全形势交换了意见。 3、民政部近日公布的数据显示：今年前三季度，结婚登记数量为515.2万对，与去年同期相比，增加了40.5万对。近年来，为鼓励 适龄婚育，不少地方调整了婚假时长。截至目前，全国已有29个省份延长婚假。其中，山西、甘肃最长，可享受30天婚假。河南、 黑龙江规定，参加婚检分别额外增加7天、10天，最长婚假分别可达到28天、25天。 行 业 新 闻 3、泽连斯 ...

（原标题：地平线吕鹏：端到端用"老司机"数据，用户不会被"点刹"困扰） 21世纪经济报道记者何煦阳 报道 11月20日，在由南方财经全媒体集团指导、21世纪经济报道主办的2025新汽车年度盛典上，地平线副总 裁、战略部&智驾产品规划与市场部负责人吕鹏在谈到智能辅助驾驶的议题时分享道： "大家过去的这个制动系统里面，经常会碰到各种的点刹、重刹等等这样的场景，其实基本上都是由于 规则的介入带来的整个系统的不连贯性。那通过完整的端到端呢，因为学习的就是人类老司机的数据， 其实要出现点刹、重刹是非常难的，所以它的整个的控车会非常的丝滑。我们在今年量产之后，获得了 10家车企超过20款车型的定点，也会引领未来这个FSD的规模化量产落地。所以最后有一个slogan，我 们也是希望未来'把智驾交给地平线，把生活还给自己'。" （视频编辑：许婷婷，崔晓韵） ...