新石器为一家在中国注册成立的科技公司，主要从事无人驾驶车辆及相关技术的研发、生产与运营。该 公司在无人配送、智慧物流等领域具备领先的技术积累与市场实践。 根据该协议，喜相逢集团与新石器将围绕以下方向开展深度合作：1.无人车采购与运营合作：喜相逢集 团将向新石器采购、租赁或运营其无人车产品，并在特定区域开展深度业务协同;2.路权开发与城市拓 展：喜相逢集团将负责在指定城市开展无人车路权开发、测试及运营许可申请，新石器将提供技术支 持;3.运营服务保障：新石器将为喜相逢集团提供全生命周期运营维护、终身软件服务及专项保险支 持;4.市场独家保护：在喜相逢集团成功取得并维持路权的城市区域内，新石器将授予喜相逢集团为期3 年的独家经销权。 喜相逢集团(02473)发布公告，于2025年12月18日，公司间接全资附属公司喜相逢融资租赁集团有限公 司(喜相逢集团)与新石器慧通(北京)科技有限公司(新石器)签订战略合作协议，内容有关双方在无人车采 购、路权开发、运营服务、市场推广等领域建立长期战略合作关系。 随着人工智能的发展，无人化技术对传统行业的渗透已逐步加深，在特定场景中的商业化应用已经逐步 展开。集团基于全国化的自营 ...

根据该协议，喜相逢集团与新石器将围绕以下方向开展深度合作： 1. 无人车采购与运营合作：喜相逢 集团将向新石器采购、租赁或运营其无人车产品，并在特定区域开展深度业务协同; 2. 路权开发与城市 拓展：喜相逢集团将负责在指定城市开展无人车路权开发、测试及运营许可申请，新石器将提供技术支 持; 3. 运营服务保障：新石器将为喜相逢集团提供全生命周期运营维护、终身软件服务及专项保险支持; 4. 市场独家保护：在喜相逢集团成功取得并维持路权的城市区域内，新石器将授予喜相逢集团为期3年 的独家经销权。 随着人工智能的发展，无人化技术对传统行业的渗透已逐步加深，在特定场景中的商业化应用已经逐步 展开。集团基于全国化的自营网络体系、车辆运营及管理方面的丰富经验，将逐步展开无人车业务。董 事会相信，本次与新石器建立战略合作，将充分结合新石器在无人车技术与产品研发方面的优势，推动 集团无人车业务的顺利开展，拓宽集团业务多元化，将对集团财务状况带来正面影响。 智通财经APP讯，喜相逢集团(02473)发布公告，于2025年12月18日，公司间接全资附属公司喜相逢融资 租赁集团有限公司(喜相逢集团)与新石器慧通(北京)科技有限公司 ...

Summary of the Conference Call for Xiaoma Zhixing Company Overview - Xiaoma Zhixing has achieved profitability in Guangzhou, with a highly replicable model in other regions due to reduced vehicle hardware costs (sixth-generation vehicle cost down to 270,000 yuan) and fully autonomous technology, significantly lowering operational costs [2][4]. Key Points and Arguments - **Profitability and Growth Plans**: As of Q4 2025, Xiaoma Zhixing's fleet has surpassed 1,000 vehicles, achieving profitability in Guangzhou. The company plans to increase its fleet to at least 3,000 vehicles by 2026, with expectations to have over 10,000 vehicles in three years and more than 100,000 in five years [3][4][11]. - **Market Capacity**: The ride-hailing market in first-tier Chinese cities is substantial, requiring approximately 20,000 to 40,000 vehicles per million population. Xiaoma Zhixing operates in areas with a total population of nearly 10 million, indicating ample market capacity for expansion [4][13]. - **Cost Structure**: The procurement cost of the sixth-generation vehicle has decreased from 1 million to 1.5 million yuan to 270,000 yuan, reducing costs by five to six times. The company has eliminated driver costs through full automation, further lowering operational expenses [4][5]. - **Core Barriers in Autonomous Driving**: The core barriers in the autonomous driving industry vary by development stage. Initially, the focus was on technology, while later stages involve a combination of technology, policy, production, cost, logistics, and user growth. Xiaoma Zhixing maintains a leading position across these barriers, making it difficult for new entrants to catch up quickly [2][7]. - **Long-term Investment in L4 Technology**: Achieving L4 level autonomous driving requires long-term investment, and new entrants cannot catch up in the short term. Attracting top AI talent and innovating machine learning methods are critical challenges [2][8][9]. - **Policy as a Barrier**: The regulatory environment is a significant barrier, requiring a gradual verification process that typically takes four to five years for large-scale expansion. Even with potential future policy relaxations, new entrants will face similar validation timelines [2][9]. - **Differentiation between L3 and L4**: L3 and L4 represent different business models and regulatory frameworks. The development of L3 will not significantly impact L4 in the short term, as L3 is currently limited to small areas in Beijing and Chongqing [10][11]. Additional Important Insights - **Future Vehicle Launches**: The next vehicle model, the seventh generation, is expected to further reduce costs, but the primary focus will be on revenue growth rather than just cost reduction [6]. - **International Market Plans**: Xiaoma Zhixing's international expansion plans are aligned with competitors, with no significant scale expected outside of the U.S. by 2026. Other countries are limited to small-scale operations [12]. - **Operational Efficiency**: In first-tier cities, the company can efficiently operate a significant number of vehicles, with expectations for new core areas to open soon, enhancing operational capacity [13].

Group 1 - The article highlights the importance of tracking major announcements in the stock market, including suspensions, investments, acquisitions, and performance reports, to identify investment opportunities and mitigate risks [1] - The company has completed the design of satellite communication chips, integrating commercial aerospace, autonomous driving, chips, artificial intelligence, robotics, drones, and low-altitude economy [1] - Another company generates revenue from a single project in its aerospace business, focusing on lithography machines and autonomous driving [1] Group 2 - A company plans to develop mid-to-high-end L3 autonomous vehicles, incorporating autonomous driving, solid-state batteries, and energy storage [1]

（原标题：21特写｜科技新贵为何扎堆去中东？） 21世纪经济报道记者周慧 迪拜报道 中国的冬季，正是迪拜的旅游和展会旺季，随处可见的工地，蓬勃的房地产业，都在彰显这里是投资建 设的热土。 迪拜是全球重要的货物中转站和贸易中心城市，也是很多中国人到中东的第一站。在豪华的商场迪拜 Mall里，21世纪经济报道记者见到了刚从中国飞到迪拜到的九识智能联合创始人、COO张旭琛，次日清 晨他将从迪拜去首都阿布扎比，那里正在举行为期一周的首届阿布扎比智能与自主技术周的展会。 作为阿联酋的首都，阿布扎比近几年发力文旅、数字化和人工智能等，还通过找刘亦菲做旅游代言人等 营销方式，知名度在中国骤增。 在社交媒体的叙事中，中东是富得流油的地方，接受21世纪经济报道记者采访的中国科技公司创业者们 否认去"中东淘金"的说法。他们表示，中企出海中东一直都有，在一段时间里，到中东很多赚到钱的是 做中介、培训生意，现在他们希望能参与到当地的经济转型中，做长期的投资布局。 近几年，出海中东热度增加，随着沙特"2030愿景"、阿联酋"2031年国家投资战略"、科威特"2035国家 愿景"等一系列长期战略规划落地，海湾国家在旅游、金融、物流、房地 ...

中小科技公司在中东的出海，很多是采取和当地企业成立合资公司的方式落地项目，以最大化降低本土 化落地成本。 近几年，出海中东热度增加，随着沙特"2030愿景"、阿联酋"2031年国家投资战略"、科威特"2035国家 愿景"等一系列长期战略规划落地，海湾国家在旅游、金融、物流、房地产等领域继续发力的基础上， 试图在数字经济、新能源经济和人工智能等新赛道上实现新突破。对于中国企业来说，围绕数字经济、 人工智能相关的新赛道出海也在起步。 去中东找新机会 来自黑龙江的包车司机张刚（化名），到迪拜工作已经两年，经常开车往返迪拜和阿布扎比之间接送中 国客人。 张刚告诉21世纪经济报道记者，他是通过"老乡带老乡"的方式来迪拜的，接待的客人中，商旅客人占比 较高，包括出差来参加展会和调研的。夏天的时候，这里热得不适合出门，当下是展会旺季，也是他的 生意旺季，每月能挣2万人民币左右。 除了像张刚这样不会英语的60后中国司机，到迪拜找新机会的还有很多中国科技新贵。 九识智能的张旭琛刚飞到迪拜，和迪拜负责市场的同事王永波汇合。九识智能是一家来自苏州的无人车 企业，全球化布局是公司的战略之一。张旭琛在美国博士毕业后，曾在自动驾驶超级独 ...

Group 1: Cooling and Communication Technologies - Hongsheng Co. has developed cooling distribution units (CDUs) and inter-row air conditioning systems that are now being applied in data center liquid cooling systems [2] - Tongding Interconnection focuses on the optical communication industry, having established a complete industrial chain covering preform rods, optical fibers, optical cables, communication cables, and equipment [2] - Longfly Fiber is a leading company in the global fiber optic cable industry, with advanced hollow core technology and successful bids in related projects [2] - Lian Technology specializes in the research, production, and sales of optical communication transceiver modules [2] - LightSpeed Technology is a leader in optical modules, with ByteDance as a significant client, and has launched a 1.6T silicon optical module [2] Group 2: Lithium Battery and Mining - Yichun has canceled 27 mining rights, leading to a surge in lithium carbonate futures [2] - Jinyuan Co. has established a circular economy system in the new energy materials sector, with lithium resource layouts in Tibet and Argentina, and has completed a production line capable of producing 2,000 tons of lithium carbonate annually [2] - Dazhong Mining's subsidiary has obtained a mining license for a lithium mine in Hunan, with a resource amount of 490 million tons, equivalent to approximately 3.2443 million tons of lithium carbonate [3] - Shengxin Lithium Energy's SDLA salt lake project in Argentina has an annual production capacity of 2,500 tons of lithium carbonate equivalent [3] Group 3: PCB and Electronic Materials - Ping An Electric's electronic cloth is widely used in automotive electronics, consumer electronics, smartphones, AI, and data centers [2] - Jiangnan New Materials produces core products including copper balls and copper oxide powder, which are used in PCB copper plating [2] - Shenzhen South Circuit is a leading domestic IC carrier board manufacturer, with a 37.75% year-on-year increase in net profit [2] Group 4: Consumer and Tourism - The Central Financial Office has prioritized expanding domestic demand as a key task for the coming year [2] - Nanjing Tourism Group's listed company focuses on tourism business, primarily through its subsidiary Qinhuai Scenic Area [2] - Qujiang Cultural Tourism is involved in the development of historical cultural scenic spots, including several national 5A scenic areas [2] Group 5: Aerospace and Robotics - Elon Musk hinted that SpaceX might conduct an IPO next year, with a potential valuation of $1.5 trillion [4] - Hong Kong Technology's subsidiary has signed a cooperation agreement for a South American project with a global satellite company [4] - The first mass production project for steer-by-wire technology is expected to begin in the second half of 2026, targeting L3+ smart driving vehicles [5]

财信证券认为，周二，A股大盘缩量调整。盘面上，零售板块逆势走强，无人驾驶板块活跃，数字货币 板块反弹；而科创方向继续调整，贵金属板块表现靠后。近期，海外两大利空反复冲击市场：一是市场 对AI产业链泡沫担忧加剧，导致全球科技线普遍调整；二是日本央行利率决议事件尚未落地，加息预 期升温持续扰动市场。这两大事件使得市场风险偏好受到压制，隔夜美股再度调整，当日包括日本、韩 国在内的亚太主要市场也延续调整。从技术面上看，沪指已经调整至前期低点，若无法及时企稳，指数 层面可能仍有小幅下探风险。因此短期内，适当控制仓位，等待大盘放量上涨信号出现，在此之前可围 绕近期强势方向轮动的思路适当参与市场。中长期而言，在"反内卷"改善上市公司业绩、居民储蓄资产 入市、全球流动性缓和、科技产业趋势加持下，2026年A股"慢牛"行情大概率延续。 中原证券认为，周二，A股市场低开低走，震荡整理，盘中消费、多元金融、汽车以及房地产等行业表 现较好；贵金属、船舶制造、电源设备以及风电设备等行业表现较弱。上周A股市场在国内外诸多事件 相继落地后呈现显著分化与震荡格局。中长期支撑本轮A股上涨的基础并未发生转变。预计上证指数围 绕4000点附近蓄势 ...

Group 1 - The article highlights the importance of major announcements in the stock market, including "suspensions and resumption of trading, shareholding changes, investment wins, acquisitions, performance reports, unlocks, and high transfers" to help investors identify investment hotspots and mitigate risks [1] - The company focuses on commercial satellites and aerospace defense, with its Star series business primarily targeting these sectors [1] - Another company is involved in satellite communication modules based on high-orbit satellites, integrating technologies such as 6G, digital currency, and humanoid robots [1] - A third company has made a significant procurement of servers worth 9 billion, aimed at providing cloud computing services to its clients, leveraging storage chips and data centers [1]

A股、港股亦大幅下行，沪指跌逾1%，创业板指跌超2%，恒生指数跌超1.5%，恒生科技指数跌近2%。 消息面上，近期日本央行释放鹰派信号引发市场波动。据悉，日本央行将于12月18日至19日召开货币政 策会议，市场普遍预期最可能的方案是加息25个基点至0.75%。但有机构指出，本次日本央行加息对市 场的影响或相对有限，首先是沟通充分、定价完毕。其次是目前套息交易规模有限。 具体来看，A股方面，三大股指盘中单边下探，北证50指数逆市上扬。截至收盘，沪指跌1.11%报 3824.81点，深证成指跌1.51%，创业板指跌2.1%，北证50指数逆市涨0.54%，沪深北三市合计成交17483 亿元，较此前一日减少约460亿元。 16日，亚太市场主要股指多数下挫，日经225指数收盘跌1.56%报49383.29点，韩国综合指数跌2.24%报 3999.13点，澳洲标普200指数跌0.56%报8598.9点。 无人驾驶概念崛起 无人驾驶概念盘中强势上扬，截至收盘，万集科技、久之洋20%涨停，浙江世宝、路畅科技、索菱股份 等亦涨停，豪恩汽电涨超9%。 | 代码 | 名称 | � | 涨幅% | 现价 | 涨跌 | 采价 | 卖价 ...