开放"后厨"，见证中国豪华的品质自信 交付序曲，始于一场深度沉浸的工厂探访。用户亲临总装车间，见证岚图泰山在高度自动化、数据化的生产线上精准成型，直观感受世界级智造工厂的 硬核实力。每一辆岚图泰山的下线，都承载着不变的匠心与严苛的品控标准，是对"稳如泰山"品质理念的最佳诠释。 "5000辆交付，是岚图泰山的新起点。作为以用户为中心的企业，岚图不会辜负大家的信任。我们将继续深耕技术、聆听需求，一步一个脚印，造好 车、做好服务，给用户提供极致的用车体验。"岚图汽车科技股份有限公司董事长、党委书记卢放表示。 豪华的质感，源于全链路的极致把控。此次岚图邀请用户到访云峰工厂，以"明厨亮灶"的形式，向用户展现高品质产品的诞生过程，进一步展现了岚图 泰山的品质自信。 岁聿云暮，新程待启。 12月29日，岚图汽车旗下旗舰SUV岚图泰山第5000辆交付仪式在岚图云峰工厂举行，国民村长李锐等50名车主亲临见证。这场始于智能制造源头的交付 盛典，既以"新年开泰，一路开泰"的美好寓意，为华系豪华汽车发展镌刻下里程碑式印记，更凭借26天实现5000辆交付的"岚图速度"，强势站稳9系旗舰 SUV市场，为中国高端新能源产业的向上突破注入强 ...

上海超级工厂将整车制造的冲压、焊装、涂装、总装四大工艺布局在"同一屋顶下"，实现每30多秒就能 下一台整车的行业标杆速度。目前工厂的产业链本土化率已经达到95%，工厂附近建立的"4小时朋友 圈"，在苏州、宁波、南通等长三角地区形成了完整的新能源汽车产业生态，极大降低了物流成本。 从全球范围来看，继第三季度创下历史新高后，四季度的特斯拉电动车全球交付量持续增长。数据显 示，Model Y是近一年来国内的SUV销量冠军；澳大利亚市场售出第15万辆特斯拉；新西兰累计交付量 破2万辆；截至11月，特斯拉在挪威的年内累计销量打破了此前9年由燃油车保持的当地乘用车年度销量 纪录，提前锁定2025年年度销冠。 12月30日，特斯拉全球第900万辆电动车在上海超级工厂下线。这是一台白色Model Y，也是2023年与 2024年全球最畅销的乘用车型。 在上海超级工厂下线的车型，除了满足中国内地消费者的需求，还畅销欧洲和亚太市场。2025年10月， 特斯拉上海超级工厂出口超3.5万辆，创2年来单月最高出口纪录。上海超级工厂产能占特斯拉全球产能 的一半，不久前，这里刚刚迎来了中国工厂第400万辆整车下线的全新里程（002219） ...

12 月 25 日，比亚迪法务部官宣胜诉消息，自媒体"龙哥讲电车""满格电新能源"因编造、传播针对 比亚迪的虚假信息，被法院一审判决停止侵权、消除影响，并赔偿经济损失 200 万元。这一判决再 次彰显了法律对网络恶意诋毁行为的严惩力度，也成为比亚迪持续打击黑公关的又一重要战果。 比亚迪集团品牌及公关处总经理李云飞在转发公告时明确表态，企业始终欢迎基于客观事实的报道与 批评，对因信息差产生的误解性内容也能包容，但对于"为了黑而黑"的长期恶意诋毁，坚决零容 忍。事实上，这已是比亚迪近期维权的标志性胜利之一：此前"王悟空说车"因贬损方程豹车型被判 赔偿 31.38 万元， 2024 年底"龙猪 - 集车"因五年发布 300 余条不实信息，被判赔 201.87 万 元且款项已强制执行到位。 值得关注的是，企业维权已得到监管部门与行业的广泛呼应。中央网信办开展汽车行业网络乱象专项 整治，关停"王悟空说车"等多个违规账号；央视新闻、新华社等权威媒体先后发声，揭露网络黑嘴 运作模式，批判车圈恶意抹黑的非理性竞争乱象。 业内专家指出，比亚迪的持续维权不仅为自身挽回声誉损失，更以头部企业担当划定了行业言论红线 ， 以法为盾筑牢 ...

来源：资市会 同为被告的还有百亿基金经理施成。他在管的6只基金，过去三年业绩惨不忍睹。 文|资市分子 2025年底最疯狂的莫过于白银市场。 12月29日，伦敦银现、COMEX白银盘中突破80美元/盎司，创下历史新高，之后价格出现大幅下跌。12 月29日收盘，伦敦银现、COMEX白银分别收于72.127美元/盎司、71.64美元/盎司，今年涨幅分别达 149.69%、131.96%。 施成于2017年3月加入国投瑞银基金，目前在管基金6只，管理规模107.36亿元。不过，6只产品过去三 年业绩皆跑输业绩比较基准。 01 拿下商品型基金收益率桂冠 12月以来，白银价格一路冲高。 国投瑞银基金因此大火了一把。 作为公募中唯一一只投资于白银期货的基金——国投白银LOF（场外名称"国投瑞银白银期货"）一扫往 年颓势，拿下今年商品类基金收益率桂冠。 不过，过去一周（12月22日至12月26日），该基金经历过山车行情，从连续3天涨停到连收两个跌停。 12月29日，该基金盘中出现大幅震荡，从直线跌停到快速拉升震荡回落，收盘涨0.75%。 基民的经历可谓惊心动魄。 热闹之下，国投瑞银及其明星基金经理施成正在经历烦恼。 上海高级 ...

Core Viewpoint - Xiaomi Group is actively engaging in stock buybacks and share purchases by its founder Lei Jun to instill confidence in the market, despite concerns surrounding co-founder Lin Bin's $2 billion share reduction plan set to begin in December 2026 [4][6][10]. Stock Performance and Market Reactions - Xiaomi's stock has seen a significant decline, losing over 500 billion HKD in market value since reaching a peak of 61.45 HKD per share in June 2025, with the stock currently trading around 38.58 HKD [5][7][9]. - Lin Bin's planned share reduction follows a history of previous cash-outs exceeding 8.5 billion HKD, raising investor concerns about the company's future [7][10]. Business Performance and Challenges - Xiaomi's smartphone business is facing challenges, with a 3.15% year-on-year revenue decline in Q3 2025, attributed to rising memory costs and a decrease in average selling price (ASP) from 1102.2 CNY to 1062.8 CNY [15][16]. - The company's IoT and consumer products segment has seen a 15.7% decline in revenue from smart appliances, impacted by competition from major appliance brands and a retreat in government subsidies [14][15]. Automotive Sector Developments - Xiaomi is expanding its automotive lineup with plans to launch three new models, including the family-oriented Xiaomi YU9 and the performance-focused YU7 GT, as it aims to capture a larger market share [20][21]. - The company is ramping up production capacity, with existing factories in Beijing and plans for additional facilities, potentially reaching a total capacity of over 400,000 vehicles [21][22]. Future Outlook - The automotive sector is expected to play a crucial role in Xiaomi's growth strategy, especially as the smartphone business faces headwinds in 2026 [24].

Group 1 - The core message emphasizes the importance of a strong industrial base for national prosperity and the confidence in China's industrial capabilities as it approaches the end of the 14th Five-Year Plan and the beginning of the 15th [1][2] - China's manufacturing value added is expected to increase by 8 trillion yuan during the 14th Five-Year Plan, contributing over 30% to global manufacturing growth [3] - China maintains the world's largest manufacturing scale for 15 consecutive years, with most of the 504 major industrial products ranking first in global production [3] Group 2 - Traditional industries are undergoing transformation, with advancements in energy efficiency and the emergence of smart factories and industrial robots, which account for over 50% of global installations [4] - Emerging industries such as new energy vehicles, photovoltaics, and artificial intelligence are rapidly developing, with over 60 advanced manufacturing clusters leading the way [4] - Future industries are focusing on quantum computing, laser manufacturing, and bio-manufacturing technologies, showcasing China's capability to overcome technological challenges [5] Group 3 - The Chinese government emphasizes the importance of prioritizing people's livelihoods in economic planning, as highlighted in the recent Central Economic Work Conference [6] - The 15th Five-Year Plan aims to establish a modern industrial system centered on advanced manufacturing, reinforcing the momentum of high-quality industrial development [6] - The ultimate mission of China's industrial sector is to create a better life for the people, aligning with the aspirations for improved living standards [6]

Domestic News - The State-owned Assets Supervision and Administration Commission (SASAC) emphasizes accelerating the transformation and upgrading of traditional industries, focusing on intelligent, green, and integrated development to enhance the competitiveness of traditional industries globally [6] - The National Energy Administration calls for the construction of a high-quality charging infrastructure system, aiming for a "three-year doubling" action plan to improve service capabilities and safety in electric vehicle charging [7] - In November, China's electric vehicle exports surged by 87% year-on-year, reaching 199,836 units, with significant growth in Asia (71%) and Latin America (283%) [8] - Changan Automobile plans to raise no more than 6 billion RMB through stock issuance to enhance its R&D and market competitiveness in the new energy vehicle sector [9] - NIO has announced the launch of a battery swap station in Deqin, completing a battery swap route over 2,700 kilometers with 19 stations [12] - CATL has established a new energy technology company in Xishuangbanna, focusing on new energy technology research and sales [13] International News - The market share of imported cars in South Korea is expected to exceed 20% in 2025, driven by the surge in Tesla sales and high demand for premium brands [15] - TIERIV has received support from the Japanese government to build a large-scale autonomous driving data set, enhancing industry competitiveness through AI data collection [16] - Waymo is conducting autonomous taxi tests in London, showcasing its electric vehicles on the streets [17] - General Motors plans to launch its sixth-generation V8 engine in 2027, offering two displacement options of 5.7L and 6.7L [18] Commercial Vehicles - The first fully vehicle-compliant unmanned logistics vehicle is set to launch in early 2026, with several domestic manufacturers focusing on unmanned logistics solutions [21] - Dongfeng Motor has completed dual national standard certification for vehicle information security and software upgrades, positioning itself at the forefront of compliance in the industry [23] - Iveco's electric vehicle has been awarded the title of "Green and Efficient City Distribution Recommended VAN" at a recent industry event [24] - The Fei Die Qitu MX (air brake version) light truck has been launched in Shaanxi, expanding the product lineup to meet diverse transportation needs [26]

2025年，是全球经济在复苏与重构中寻找新平衡的一年，也是中国产业在经历了数年技术积淀、市场激 荡与模式探索后，进入深度分化与价值重塑的关键节点。我们不再仅仅追逐风口，而是更冷静地审视风 口之下正在发生的改变：存储芯片"超级周期"搅动市场，国产正凭借成熟的性能、稳定的供应突围；新 能源汽车穿越价格战，驶向全球化的深海；金价暴涨，点燃一场现代淘金热；AI大模型卸下炫技光 环，沉入产业毛细血管；短剧现象则掀开了内容消费的底层革命。 这一年的核心叙事是分化与沉淀，当所有行业都在接受价值的重新丈量，真正的机遇只属于那些穿透周 期噪音、构筑内生力量的建设者。我们在此记录这场静默而深刻的重塑——潮水退去时，留在岸上的才 是这个时代真正的重量。 "账期真的短了。" 账期，曾经是悬在众多汽车供应链企业头上的一把利剑。 "感觉真的不一样了。"2025年12月，虽然时值寒冬，一位在华东地区为多家主机厂供货的汽车电子企业 人士却向记者描述了久违的"暖意"。他所在的公司在过去几年，早已习惯了合同上写着"60天"，实际回 款却拖到180天的行业潜规则。"现在，账款回收的速度明显在加快，现金流压力小了很多。" 这一转变并非偶然。万创投行 ...

开栏语 2025年，是全球经济在复苏与重构中寻找新平衡的一年，也是中国产业在经历了数年技术积淀、市场激荡与模式探索后，进入深度分化与价值重塑的关键节 点。我们不再仅仅追逐风口，而是更冷静地审视风口之下正在发生的改变：存储芯片"超级周期"搅动市场，国产正凭借成熟的性能、稳定的供应突围；新能 源汽车穿越价格战，驶向全球化的深海；金价暴涨，点燃一场现代淘金热；AI大模型卸下炫技光环，沉入产业毛细血管；短剧现象则掀开了内容消费的底 层革命。 这一年的核心叙事是分化与沉淀，当所有行业都在接受价值的重新丈量，真正的机遇只属于那些穿透周期噪音、构筑内生力量的建设者。我们在此记录这场 静默而深刻的重塑——潮水退去时，留在岸上的才是这个时代真正的重量。 p, 81 17 13 a support of the success of the support of and and and the many of the many of the may be and 图/IC "账期真的短了。" 一位总部在长三角的汽车供应链企业负责人在电话里向新京报贝壳财经记者感叹。他清晰地记得，就在去年，一笔货款拖上180天仍是常态，收到的常常是 ...

（原标题：深蓝汽车完成增资扩股，招商银行AIC投资5亿元） 近日，一则增资公告让金融圈与汽车圈同时聚焦。深交所网站消息，长安汽车12月25日发布公告称，其控股子公司深蓝汽车科技有限公司（以下 简称"深蓝汽车"）已通过公开挂牌方式顺利完成C轮融资，融资总额高达61.22亿元。其中，一笔5亿元的出资格外引人注目。 公告显示，这笔资金的背后，是成立仅一个多月的招银金融资产投资有限公司。值得一提的是，鉴于招银投资由招商银行股份有限公司全资持 股，该公告也标志着股份制银行金融资产投资公司（AIC）的直接股权投资已实现实质性落地。 招银增资5亿元子公司增资进展公告 招商银行网站介绍，招银金融资产投资有限公司是经国家金融监督管理总局批准设立的首批股份制银行金融资产投资公司（AIC）之一，由招商 银行全资设立，注册地为深圳，注册资本为人民币150亿元，是初始注册资本金额最高的金融资产投资公司。 当然，其成立离不开政策引导驱动。今年3月，国家金融监督管理总局发布《关于进一步扩大金融资产投资公司股权投资试点的通知》，支持符合 条件的商业银行发起设立AIC。由此，商业银行参与股权投资的制度通道进一步打通。 在此政策框架下，招商银行 ...