Core Viewpoint - Tesla's fourth-quarter delivery volume decreased by 16% year-on-year to 418,227 vehicles, falling short of both analyst expectations and the company's own targets, while BYD continues to outperform in electric vehicle sales [2][3]. Group 1: Tesla's Performance - Tesla's fourth-quarter delivery volume was 418,227 vehicles, a 16% decline compared to the same period last year [2][3]. - The company's total annual delivery for 2023 was 1.64 million vehicles, significantly lower than BYD's nearly 2.26 million electric vehicle deliveries [3][5]. - Analysts have downgraded their expectations for Tesla's 2026 delivery forecast from over 3 million vehicles to approximately 1.8 million vehicles [5]. Group 2: BYD's Performance - BYD's electric vehicle sales have shown consistent growth, with a total of nearly 2.26 million deliveries in 2023, surpassing Tesla's performance [3][5]. - In the fourth quarter of 2024, BYD's pure electric vehicle deliveries exceeded those of Tesla, indicating a growing competitive edge [5]. Group 3: Market Dynamics - Tesla's focus on promoting its long-term goal of developing a self-driving taxi service has shifted attention away from its declining sales figures, although the current availability of such services remains limited [4]. - The market sentiment towards Tesla's future sales prospects has become increasingly skeptical, reflecting a significant shift in analyst confidence [5].

Core Insights - NIO reported record vehicle deliveries in December 2025, with a total of 48,135 units delivered, marking a year-on-year increase of 54.6% [1] - The NIO brand alone delivered 31,897 units, also a record high, with a year-on-year growth of 54.8% [1] - The company achieved a total of 326,028 vehicle deliveries for the entire year of 2025, representing a 46.9% increase compared to the previous year [1] Delivery Breakdown - In Q4 2025, NIO delivered 124,807 vehicles, a record high with a year-on-year increase of 71.7% [1] - The NIO brand delivered 67,433 units in Q4, reflecting a year-on-year growth of 27.8% [1] - The Ladao brand saw a significant increase in Q4 deliveries, reaching 38,290 units, which is a 92.1% year-on-year growth [1] - The Firefly brand delivered 19,084 units in Q4, showing a quarter-on-quarter increase of 52.8% [1] Cumulative Deliveries - As of now, NIO has cumulatively delivered 997,592 vehicles, with the NIO brand accounting for 829,609 units [2] - The Ladao brand has delivered 128,569 units, while the Firefly brand has delivered 39,414 units [2] Policy Impact - Starting January 1, 2026, the vehicle purchase tax policy will change from exemption to a 50% reduction, which is expected to benefit battery-swapping models [3] - Under the BaaS battery rental scheme, customers purchasing NIO, Ladao, or Firefly vehicles could save between 1,770 yuan and 9,558 yuan due to the new tax policy [3]

1月2日晚间，特斯拉公布去年第四季度交付量为418227辆，同比下降16%，在全球电动车制造商排名中明显被甩在中国比亚迪身后。 特斯拉在周五发布声明称，第四季度交付量下降16%至418,227辆，不仅低于分析师预期，也未达到公司自身目标。 相比之下，比亚迪无论是季度还是全年，纯电动车销量都实现增长，全年交付接近226万辆，而特斯拉为164万辆。 | | 產量 | | | | 銷量 | | | --- | --- | --- | --- | --- | --- | --- | | 項目類別 | 本月 去年同期 本年累計 去年累計 累計同比 | | | | 本月 去年同期 本年累計 去年累計 累計同比 | | | 新能源汽車 | 419.804 | 466,441 4,537,356 4,304,073 | 5.42% | 420,398 | 514,809 4,602,436 4,272,145 | 7.73% | | 一乘用車 | 414.553 | 460,719 4,479,392 4,281,084 | 4.63% | 414,784 | 509,440 4,545,423 4,250,370 | 6. ...

转自：许昌发布 《中共许昌市委关于制定许昌市国民经济和社会发展第十五个五年规划的建议》： 主动融入郑州都市圈和沿京广铁路城市发展带，构筑引领高质量发展的战略优势。落实国家重大战略、区域重大战略，融入全省"一主两副、一圈两带、 四域多点"发展格局，聚焦交通同网、产业同链、文化同兴、生态同建、服务同享，发挥特色优势，强化全域对接，进一步优化发展布局、拓展发展空 间。要协力做强郑（港）汴许主引擎，高质量建设"一带一圈两谷"，促进全方位功能对接，强化全市域整体联动。 在日前胜利闭幕的市委八届十次全会上，一个关乎城市未来走向的关键抉择被郑重写入发展蓝图：主动融入郑州都市圈，并全力对接沿京广铁路城市发展 带。 于许昌而言，从"融"出发，向"带"而行，这不仅是一次地理空间上的战略选择，更是在省委"一主两副、一圈两带、四域多点"宏大格局下，一座内陆城市 寻求能级跃升、开拓发展新优势的深刻自觉。 2025亮点 《许港产业带发展规划(2025-2035 年)》编制完成，212个重点项目前10个月完成投资740亿元，占年度投资计划的90.1%，招引亿元以上项目81个，累计到 位资金73.9亿元 芙蓉湖现代服务业创新圈聚焦科技服务、 ...

为持续激活发展潜能、巩固发展优势，苏州在产业细分赛道精准发力，不断夯实创新发展根基。 2025年以来，一系列靶向性强、含金量高的产业举措密集落地。2025年7月，苏州在全国率先出台AI芯 片产业创新发展三年行动计划及若干措施，提出到2027年，苏州市AI芯片相关产业规模突破500亿元， 引进产业化项目30个以上，突破10款以上填补国内空白的创新产品，形成20项以上本地示范应用场景。 此外，苏州还启用RISC-V开源芯片产业创新中心，推动创新中心与阿里达摩院达成战略合作，并牵头 成立江苏省RISC-V产业联盟，加速构建产学研协同创新生态。2025年9月成立的苏州创新药研究院，聚 焦分子靶向药物、生物药、基因与细胞治疗、AI药物研发等前沿领域，开展有组织科研和有组织转 化，致力于解决头部企业技术攻关和人才培养需求，打造"实验室—企业—医院"三位一体的创新闭环， 推进"政产学研医"深度融合。除此以外，智能机器人产业创新联盟、新能源汽车公共服务平台等一批载 体相继落地，成为苏州推进新型工业化的重要支撑。 市工信局相关负责人介绍，当前，苏州未来产业发展多点开发、态势强劲。全市已有7个板块获批 省级"未来产业先行集聚发展 ...

2025年年报披露尚未启幕，一批A股公司已率先释放业绩暖意。 截至2025年12月31日，已有超30家A股公司对2025全年业绩作出积极预测，均预计2025年度业绩同比增 长。 超30家公司"报喜" 据Choice数据统计，目前已有超30家公司释放2025年业绩预增的信号。这些预增信号主要来自两类披 露：一类是存量公司发布的年度业绩预告，另一类是2025年新上市公司在招股说明书中披露的全年业绩 预计。 具体来看，发布业绩"预喜"公告的公司中，既包括上市多年的成熟企业，也不乏在2025年登陆资本市场 的次新股。 有色金属领域，2025年铜、金等金属价格维持相对高位。龙头企业紫金矿业预计，2025年度实现归属于 上市公司股东的净利润约为510亿元至520亿元，与上年同期相比增加约59%至62%。 紫金矿业在公告中表示，主要矿产品产量同比增加，且矿产金、矿产铜、矿产银销售价格同比上升。此 外，紫金矿业同步提出2026年度主要矿产品产量计划，分别为矿产金105吨、矿产铜120万吨、当量碳酸 锂12万吨、矿产银520吨。 硬科技方面，光库科技的业绩增长体现了高端技术需求的爆发。光库科技主要产品为光纤激光器件、光 通讯器 ...

Market Overview - On the first trading day of 2026, U.S. stock indices showed relatively calm closing fluctuations, with significant inflows into technology stocks and a collective rise in Chinese concept stocks, buoyed by a strong start in the Hong Kong market [1][3] - The S&P 500 index rose by 0.19% to 6858.47 points, the Nasdaq Composite fell by 0.03% to 23235.63 points, and the Dow Jones Industrial Average increased by 0.66% to 48382.39 points [1] Chinese Technology Stocks - The Nasdaq China Golden Dragon Index surged by 4.38%, marking the largest single-day increase since May 12 of the previous year [3] - Notable Chinese tech stocks included Baidu, which rose by 15.03% after announcing a spin-off IPO for its chip business, Alibaba up by 6.25%, Tencent ADR up by 5.23%, and Netease up by 7.22% [3] AI Sector Developments - Investors are eagerly awaiting developments from DeepSeek, which recently published a paper on a new training method called "manifold-constrained hyperconnection" (mHC), seen as a significant breakthrough in AI [3] - The market's tolerance for investment returns from AI giants has decreased compared to the previous year [3] Performance of Major Tech Companies - Major tech companies had mixed performances, with Nvidia up by 1.26%, Apple down by 0.31%, Google A up by 0.69%, and Microsoft down by 2.21% [4] - Tesla experienced a "seven-day decline" following the release of its annual electric vehicle delivery data [4] Semiconductor and Storage Stocks - ASML, a leader in photolithography machines, saw an 8.78% increase after receiving a "upgrade" from brokers [5] - Micron Technology, part of the "storage four giants," rose by 10.51%, while Western Digital increased by 8.96%, both reaching historical highs [4] Electric Vehicle Market - Tesla's Q4 delivery data fell short of expectations, delivering 418,227 vehicles, which was below analyst forecasts [6] - BYD, a leading Chinese electric vehicle manufacturer, reported a 27.86% increase in annual sales, delivering 2.2567 million vehicles in 2025 [6] Berkshire Hathaway Insights - Warren Buffett expressed confidence in Berkshire Hathaway's long-term prospects, stating it has a higher chance of existing in a hundred years than any other company [7] Retail Investor Performance - Interactive Brokers reported that its retail clients achieved an average return of 19.2% in 2025, outperforming the S&P 500 index's return of 16.39% [7]

每经编辑｜陈鹏程 王晓波 1 隔夜市场 美股三大指数收盘涨跌不一，纳指高开低走，收跌0.03%，标普500指数微涨0.19%，道指涨0.66%；明星科技股表现分化，阿斯麦涨超近9%，美光科技涨 超10%，二者股价均创历史新高；AMD涨超4%，英伟达涨超1%，谷歌微涨；特斯拉、微软跌超2%，亚马逊跌近2%，Meta跌超1%，苹果微跌。纳斯达克中 国金龙指数涨4.38%，迎来"开门红"，中概股普涨，百度收涨15%，哔哩哔哩、网易涨超7%，阿里巴巴涨超6%，京东涨近3%。 美油主力合约收跌0.16%，报57.33美元/桶；布伦特原油主力合约跌0.08%，报60.8美元/桶。 现货黄金涨0.24%，报4329.32美元/盎司；COMEX黄金期货涨0.02%，报4341.90美元/盎司。现货白银涨1.4%，报72.6624美元/盎司；COMEX白银期货涨 2.35%，报72.27美元/盎司。 欧洲三大股指收盘小幅上涨，德国DAX指数涨0.13%报24521.49点，法国CAC40指数涨0.56%报8195.21点，英国富时100指数涨0.2%报9951.14点。 2 元旦假期首日 全社会跨区域人员流动量超2亿人次 1月 ...

IT之家 1 月 2 日消息，英国 BBC 今天（1 月 2 日）发布博文，报道称比亚迪在 2025 年将首次超越特斯拉，登顶全球纯电动汽车（EV）年度销量冠军。 基于比亚迪官方公布的数据，2025 年共计交付 2256714 辆纯电汽车，相比较 2024 年（1764992 辆）同比增长 27.86%。IT之家附上相关截图如下： | | | | Production Volume | | | | | Sale | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | December | December | Year-to-date | Year-to-date | Percentage | December | December | Ye | | Items | 2025 | 2024 | December | December | Year on | 2025 | 2024 | D | | | | | 2025 | 2024 | Year | | | | | New energy vehicle | 419,804 | 466,441 ...

Group 1 - Tesla reported a fourth-quarter delivery volume of 418,227 vehicles, a 16% year-over-year decline, falling behind BYD in the global electric vehicle market [1][2] - BYD's electric vehicle sales grew significantly, with a total of nearly 2.26 million units delivered in 2025, marking an increase of nearly 28% year-over-year, while Tesla's deliveries were approximately 1.64 million, representing a decline of over 8% from 2024 [2][3] - Analysts have expressed skepticism about Tesla's sales outlook for 2026, with average market expectations dropping from over 3 million units two years ago to around 1.8 million units currently [4] Group 2 - Tesla's market share in Europe has declined, with new car registrations falling by 39% in the first 11 months of 2025, while BYD's registrations surged by 240% [4] - The introduction of a cheaper version of the Model Y in October may help Tesla regain some market share in emerging markets, despite facing strong competition from Chinese manufacturers [6] - Tesla's CEO Elon Musk has shifted focus to the development of the Robotaxi service, which aims to achieve fully autonomous driving without a safety supervisor, although current consumer access to such services remains limited [6][8]