中经记者 李静 北京报道 特斯拉不准备卖车了？！ 近日，特斯拉首席执行官埃隆·马斯克（Elon Musk）在特斯拉发布2025年第四季度财报后，直接释放出 重磅战略调整，特斯拉Model S与Model X项目将逐渐停产，并明确特斯拉的业务核心已从"卖车"彻底转 向"提供交通即服务（TaaS）"，也就是现在常说的Robotaxi业务。 要知道，在半年前，2025年6月，当特斯拉的Robotaxi首次在美国奥斯汀上路后，次日就带动特斯拉股 价大涨8.23%。随着特斯拉的战略转向，全球智能出行赛道也正经历新一轮战略聚焦。 Robotaxi将从试点走向规模化 根据马斯克所言，此前生产Model S与Model X项目的弗里蒙特工厂生产线，将全面改造为年产100万台 Optimus机器人的基地。 作为中国自动驾驶出行服务的重要参与者，曹操出行（02643.HK）于2026年1月27日盘后公告，拟推出 一项与公司千亿市值目标深度绑定的股份激励计划，明确将Robotaxi运营规模、收入增长及市值表现设 为关键考核指标。 《中国经营报》记者获悉，此次推出的股份激励计划，被视为曹操出行加速推进"十年百城千亿"全球战 略的关键 ...

在成为创业者之前，时沐朗首先是一位创造者。这个标签并不只是来自一张张亮眼的成绩单，而更像是一条贯穿他童年与少年时期的隐秘主线，一些习惯 于把脑海中的奇思妙想，亲手一件件造出来的生活日常。 时沐朗的成长时光几乎是在不断 " 造物 " 的过程中度过的。 小学时，他反复拆解、重组乐高机器人，因为迷恋《星球大战》，他用 3D 打印和二三十种不同材料，做出了一台能够运动、行走的 BB-8 机器人。到了初 中，他开始自制卫星接收系统，在家楼下架起天线，成功接收并解码气象卫星信号；他还尝试固体化学推进火箭，让装置真正升空，飞行高度超过一百 米。一个项目刚刚完成，新的想法便迅速出现。几十个作品串联起他的成长轨迹，也不断倒逼他补齐电路、软件、机械乃至复杂机器人系统设计等多方面 知识。 到了高中，这些创造实验开始显露出更明确的指向。他的注意力开始转向可被日常使用的载体。高二，他在自平衡自行车上尝试了一套以视觉为主导的辅 助驾驶系统；高三的一次偶然经历，则让他第一次认真把轮椅当作自动驾驶系统的落地平台 —— 一位同学因受伤，每天驾驶电动轮椅上下学，这让他意识 到，轮椅是一种被严重低估的出行形态：尺寸贴近人体，却可以在室内外无缝切换 ...

Core Viewpoint - Jinghe Energy, a solid-state battery company, has recently completed several million yuan in angel round financing led by Sky Factory Venture Capital Fund, with funds primarily aimed at commercializing solid-state battery technology, recruiting core team members, and expanding into global markets [1]. Group 1: Company Overview - Jinghe Energy was established on December 24, 2025, focusing on all-solid-state battery cells and system solutions, with a registered capital of 1 million yuan, located in Jiaxing, Zhejiang [1]. - The actual controlling party behind Jinghe Energy is Xingkong Plan (Shanghai) Automotive Co., Ltd., founded in January 2025 with a registered capital of 1 billion yuan [1]. - Xingkong Plan is controlled by Yu Hao, the founder of Traceless Technology, which started with smart home appliances like robotic vacuum cleaners and floor washers [1]. Group 2: Technological Focus - Traceless Technology views robotic vacuum cleaners as an early form of service robots, while defining cars as highly integrated smart terminals, with solid-state batteries being a key focus area within this technological framework [1]. Group 3: Partnerships and Development - Jinghe Energy has formed cooperation intentions with multiple new energy vehicle manufacturers and eVTOL (electric vertical takeoff and landing) manufacturers, with the first batch of engineering samples expected to complete vehicle testing by the fourth quarter of 2026 [2].

1月24日，九号公司创始人兼CEO王野在2026用户大会宣布，九号智能电动车全球累计出货量已突破1000万台。站在这一全新起点，九号正式发布以"双品 牌、全球化、电切油"为核心的战略升级，宣布智能电动车业务将依托"Ninebot九号"与"Segway赛格威"双品牌协同运营，进军全球市场。同时宣布未来十年 内，将推动智能电动两轮的体验超越内燃机两轮车，让智能电动车成为全球摩托车行业的主流。 三大未来机会：从电动车到 AI 机器人，从智能产品到智能生态 面对下一个十年，九号明确了三大战略机遇： 第一，从"电动车"到"AI机器人"。机器人不是一个品类，而是一组技术。机器人技术的本质是用自动化的感知、决策与执行来简化和方便人们的工作与生 活，并不只是跳舞和拳击的人形，也不只是家里扫地的机器人，帮用户修剪草坪的机器人。个人出行场景，机器人技术有巨大的价值创造空间和创新机会。 "两个品牌，一套技术底座，协同作战：一个满足便利，一个满足渴望；一个扎根新兴市场，一个引领发达市场。"王野表示。 全球化出海：推动全球两轮智能电动化 第二，从"智能产品"到"智能生态"。九号将通过下一代的电池系统和电驱技术、能自动平衡乃至自动压弯的 ...

Core Viewpoint - The upcoming Year of the Horse Spring Festival Gala will heavily integrate technology, particularly AI and robotics, showcasing China's advancements in these fields [2][3][23]. Group 1: Technological Integration - The Spring Festival Gala will utilize AI, AR, and XR technologies to create immersive visual effects, enhancing the audience's experience [2]. - The event aims to reflect the ongoing transformation in China's economic structure, consumer trends, and social concerns through its sponsors and content [3][23]. Group 2: Sponsorship Trends - AI application and hardware companies are emerging as the new key sponsors for the Spring Festival Gala, indicating a significant shift in sponsorship dynamics [3][10]. - The confirmed sponsors for the Year of the Horse Gala include major players in AI and robotics, such as ByteDance's Volcano Engine and various humanoid robot companies [10][19]. Group 3: Historical Context - The Spring Festival Gala has evolved over 43 years, with technological advancements and commercial progress being central themes throughout its history [4][6]. - The transition from traditional sponsorships in light industry to tech giants reflects broader changes in consumer behavior and market dynamics [6]. Group 4: Future Prospects - The integration of humanoid robots and AI technologies in the upcoming gala is expected to set a new standard for future events, highlighting the competitive landscape in the robotics industry [9][12][20]. - The smart cleaning and smart mobility sectors are anticipated to gain significant visibility and market traction through their participation in the gala [15][20].

Core Insights - Company "Shouqu" has signed a strategic cooperation agreement with the China Central Television (CCTV), becoming the official smart mobility strategic partner for the 2026 CCTV Spring Festival Gala [1][2] - The smart mobility robot developed by Shouqu, which features environmental perception, autonomous decision-making, and precise execution capabilities, will be showcased as a technological element during the gala [1][2] - Shouqu aims to integrate smart mobility into family life, emphasizing its role in safely transporting children and assisting the elderly, thus becoming more than just a tool [1][2] Company Developments - By 2025, Shouqu plans to complete its layout in technology research and development, smart manufacturing, channel construction, and brand accumulation [1][2] - The company has signed a partnership with Tsinghua University to establish a cutting-edge technology laboratory, focusing on next-generation mobility technologies such as low drag and self-balancing [1][2] - Shouqu has collaborated with two global esports IPs, "Fearless Tour" and "League of Legends," reaching over 200 million young users worldwide [1][2] - A smart manufacturing base in Liuzhou, with a total investment of 1.521 billion yuan and an annual production capacity of 1.5 million units, has been established [1][2] - The company has completed the establishment of over 1,000 flagship stores across the country within four months [1][2]

Core Viewpoint - The stock price of Cao Cao Mobility (02643) surged over 10% to HKD 36.68 per share following the announcement of its ambitious plan to deploy 100,000 fully customized Robotaxis by 2030, marking a significant milestone in the industry [1] Group 1: Business Strategy - Cao Cao Mobility has developed a unique three-in-one model combining "intelligent customized vehicles + intelligent driving technology + intelligent operations" as a key commercial vehicle for Geely Holding Group's Robotaxi initiative [1] - The company has entered the Robotaxi 2.0 phase, launching the Cao Cao Zhixing RAS remote safety service platform, integrating its mature operational system with intelligent technology to create a complete closed-loop for unmanned operations [1] Group 2: Cost Efficiency - Through deep involvement in vehicle customization, Cao Cao Mobility has optimized the total cost of ownership (TCO) to approximately CNY 0.5 per kilometer, showcasing its cost-effective operational model [1] Group 3: Product Development - Cao Cao Mobility is collaborating with Geely and partners to develop fully customized Robotaxi models, which will feature proprietary autonomous driving components and applications, expected to debut by the end of this year [2] Group 4: Ecosystem Development - The company has launched its first future urban transportation hub, the "Green Intelligent Passage Island," aimed at integrating transportation, energy, and data chains to support a multi-dimensional travel network [2] - Cao Cao Mobility has established replicable construction standards to support automated operations for fully customized vehicles as it expands its Robotaxi business [2] Group 5: International Expansion - In November 2025, Cao Cao Mobility signed a memorandum of cooperation with the Abu Dhabi Investment Office, planning to establish an office and operations center in the region to advance autonomous driving and green travel technology trials [2] - The company aims to replicate its successful model from Abu Dhabi to Europe and Southeast Asia as part of its global strategy of "Ten Years, Hundred Cities, Thousand Billion," gradually seizing a significant share of the global Robotaxi market [2]

Core Viewpoint - Didi and Tsinghua University have signed a second-phase cooperation agreement for the Future Mobility Joint Research Center, focusing on deep integration of academia and industry in reinforcement learning and advanced technology development [1][5][6] Group 1: Partnership Details - The collaboration aims to enhance joint research in cutting-edge technologies, talent cultivation, and the construction of future mobility ecosystems [1][6] - Since the establishment of the Future Mobility Joint Research Center in 2019, Didi and Tsinghua University have conducted nearly 100 joint research projects, successfully translating multiple technologies from the lab to industry applications [3][8] Group 2: Research Focus - The partnership will specifically target breakthroughs in autonomous driving technology, with a focus on multimodal large models, world models, and reinforcement learning [3][9] - An innovative operational model combining "entity operation + joint office" will be adopted to unify technical routes and industrialization systems, creating a "research-engineering-business" triangle [3][8] Group 3: Goals and Aspirations - The collaboration is seen as a new starting point for deepening integration between academia and industry, aiming to advance key technology breakthroughs and system innovations [4][9] - Didi emphasizes its mission to make transportation better, believing that innovation can lead to safer and more efficient travel services, while Tsinghua University focuses on the application of research outcomes in the industry [4][9]

Macro Strategy - The economic growth target of 5% for the year was successfully achieved, with Q4 GDP growth at 4.5% and nominal GDP growth at 3.8%, indicating a narrowing decline in the GDP deflator index from -1.1% to -0.7% [1][16] - Economic growth was primarily driven by exports and services, with service sector GDP growth at 5.4% and industrial GDP growth at 4.5%. Exports increased by 6.1%, while fixed asset investment decreased by 3.8% [1][16] - Q4 price recovery was noted, although still weak, with service retail growth at 5.5% and total retail sales growth at 3.7% [1][16] Industry Insights - The aerospace sector is highlighted as a long-term strategic focus under the 15th Five-Year Plan, with continued attention on semiconductor equipment, particularly in advanced processes and domestic replacements [5] - The report recommends focusing on semiconductor equipment ETFs as key investment targets due to favorable policies and performance expectations [5] - The commercial aerospace sector is expected to maintain its growth trajectory, supported by strategic planning and market demand [22] Company Recommendations - Qianli Technology (601777) is projected to achieve revenues of 8.9 billion, 10.6 billion, and 12.8 billion yuan for 2025, 2026, and 2027 respectively, with a "buy" rating based on successful AI transformation and expected growth in smart driving business [14] - IFBH (06603.HK) is expected to see revenues of 188 million, 257 million, and 331 million USD from 2025 to 2027, with a "buy" rating due to improving fundamentals and channel strategies [15] - Hangcha Group (603298) maintains a profit forecast of 2.2 billion, 2.4 billion, and 2.7 billion yuan for 2025 to 2027, with a "hold" rating reflecting stable performance and market position [15]

Group 1 - The core viewpoint of the article emphasizes the importance of timely and relevant research reports in identifying investment opportunities, particularly in fast-evolving sectors like sodium batteries and aviation decarbonization [1] Group 2 - Sodium battery prices have increased nearly 10% over the past five months, with the market size projected to grow by 48.8% by 2025. Analysts are optimistic about the acceleration of sodium battery commercialization, predicting a potential doubling of aluminum foil usage in this high-growth sector [1] - The aviation industry is facing a pressing need for decarbonization solutions, with upstream raw materials expected to exhibit scarce resource attributes, leading to long-term supply-demand imbalances and price increases. By 2026, the price elasticity in this sector could reach 63%, prompting analysts to strongly recommend two leading companies in the industry [1] - The "Mosu Zhixing" initiative in Shanghai is accelerating the commercialization of L3/L4 autonomous driving technology, which is anticipated to unlock a trillion-yuan market [1] - The gradual cancellation of export tax rebates for batteries is expected to highlight the long-term competitive advantages of leading companies in the sector [1]