将投中网设为"星标⭐"，第一时间收获最新推送 速览投资风口，掌握资本律动。 作者丨簪竹 业投资基金共同投资。 此外，瑞桥鼎科集团宣布完成A轮融资，融资金额超过十亿元人民币。本轮 融资由康桥资本领投，北京市医药健康产业投资基金、北商资本跟投。 据投中网不完全统计，投融资详情如下（统计周期03月22日—03月28日）： 新消费 洛梵狄完成近1亿元融资 3月25日消息，智能短途出行核心零部件供应商洛梵狄智能科技（简称：洛梵狄）完成近1亿元B轮 融资，投资方有广州产投、迪策投资（湖南省钢铁集团下属投资平台）和达晨财智。 禧点茶韵完成3000万元A轮融资 来源丨投中网 大家好，我是长风。今天给大家带来上周资本市场的专业投研信息。 上周焦点回顾： 低空经济赛道，两家低空企业有钱了。 3月27日，时的科技宣布完成B+轮战略融资，本轮融资由上 海大零号湾创投和紫峰资本联合投资。同一天，翊飞航空科技也宣布完成亿元级别融资，本轮融资由 普华资本领投。 硬科技赛道，启明连投两家机器人。 3月26日消息，具身智能初创公司它石智航（TARS）宣布完成 天使轮1.2亿美元融资。本轮融资由蓝驰创投、启明创投共同领投，线性资本、恒旭资本、洪 ...

Core Viewpoint - TudaTong Holdings Ltd plans to go public through a merger with the Hong Kong SPAC TechStar Acquisition Corporation, with the merger agreement signed in December 2022 [2]. Company Overview - TudaTong specializes in designing, developing, and manufacturing automotive-grade LiDAR solutions, having delivered over 147,000 units in 2023, ranking first globally in sales revenue for ADAS LiDAR solutions [2]. - NIO has chosen TudaTong's LiDAR solutions for nine of its vehicle models [2]. Financial Performance - TudaTong reported revenues of $66.3 million in 2022, $121.1 million in 2023, and $118.5 million in the first three quarters of 2024, with losses of $188.2 million, $219 million, and $130 million respectively [3][4]. - The loss in the first three quarters of 2024 narrowed by 17.72% compared to the previous year [3]. - The gross loss margin improved from -62.3% in 2022 to -15.2% in the first three quarters of 2024 [4]. Valuation and Investment - Prior to the IPO, TudaTong's valuation reached HKD 11.7 billion (approximately RMB 11 billion), representing a 115-fold increase since its valuation of $13 million in 2016 [4].

速腾聚创系列 车中旭霞 行业深度 《 汽车前瞻研究系列十六-激光雷达的市场空间、技术路线及产业链拆解 》——20220127 公司深度 《 速腾聚创（02498.HK）-激光雷达自主龙头企业，致力于成为全球领先的机器人技术平台公司》——20250326 核心观点 激光雷达及感知解决方案领导者，致力于成为全球领先的机器人技术平台公司 速腾聚创是一家以AI驱动的机器人技术公司，围绕AI、芯片、硬件三大技术领域进行布局。 2014-2024年，汽车智能 驾驶加速推进，公司成为激光雷达及感知解决方案领导者（车、机器人）；2024年后，公司着力为AI机器人提供核心 增量部件（传感器、灵巧手、控制器等）。 2024年前三季度，公司营收11.8亿元，同比增长89%，净亏损-3.5亿元（23 年同期净亏损-11.3亿元），公司主营业务占比为ADAS产品（83%）、机器人及其他（11.7%）、感知解决方案 （5.1%）、服务及其他（0.5%）。 激光雷达领域，四类平台产品构建丰富矩阵，客户结构多元优质 行业端， 2024年中国乘用车激光雷达搭载率突破5%关键节点，产业链日趋成熟，2025年起伴随BYD（天神之眼）、 零跑、长安 ...

禾赛科技 证券研究报告 获得海外顶级 OEM 多年独家定点合作，25 全年预计实现 GAAP 盈利 24Q4 业绩概览：收入超指引，实现扭亏为盈。24Q4 收入 7.2 亿 元，yoy+28.3%，超此前指引；毛利率 39.0%，yoy-2.2pcts；调 整后净利润 1.7 亿元，同比扭亏为盈。 交付量方面，24Q4 ADAS 激光雷达出货量为 193238 台， yoy+140.3%，激光雷达总出货量为 222054 台，yoy+153.1%。 24A ADAS 激光雷达出货量为 456386 台，yoy+134.2%，激光雷 达总出货量为 501889 台，yoy+126.0%。 业务进展：截至 2025 年 2 月，公司已与 22 家国内外汽车厂商 的 120 款车型达成量产定点合作。 ADAS：海外方面，与一家欧洲顶级主机厂达成多年独家定点合作， 为其下一代汽车平台提供高性能超远距激光雷达，覆盖其燃油车和 新能源汽车的多款车型。国内方面，ATX 25Q1 开始量产，包括比 亚迪、奇瑞、长城、长安、岚图等的 11 家 OEM 获的定点合作。 机器人：JT 系列激光雷达应用于人形机器人、配送机器人、清洁 ...

聚集源头工厂的 1688 因低价吸引消费者。2023 年 11 月，阿里将 1688 列为四大 "战略级创新业务" 之一，并称其将以 3 - 5 年为周期持续投入。2024 年，1688 活跃买家数同比增长 55%。截至 2025 年 2 月，1688 年度活跃买家数（AAC）超过 1 亿。 巴菲特增持 5 家日本商社股票，4 家持股比例超过 9%。 巴菲特的公司伯克希尔·哈撒韦 3 月 17 日的财务文件显示，公司已增持 5 家日本商社（三井物产、 三菱商事、住友商事、伊藤忠商事和丸红）股票，在其中四家持股比例超过 9%。公司曾说，自己 持有的日本股票总价值 "远超伯克希尔持有的美国以外任何其他国家的股票总价值"，并计划 "长 期" 持有，比例可能高达 9.9%，但需要董事会特别批准。巴菲特今年 2 月在致股东信中说到，五 大商社同意对伯克希尔 "适度放宽" 持股比例 10% 以下的限制。 松绑 "仅退款" 的平台又多一家。阿里旗下 B2B 电商平台 1688 将于 3 月下旬取消仅退款政策。 此前，买家因质量问题发起仅退款申请后，平台会介入，进行退款，无需商家同意。仅退款政策取 消后，再发生类似情况，平台 ...

Investment Rating - The report does not explicitly provide an investment rating for the ultrafast laser industry. Core Insights - The ultrafast laser industry is characterized by high technical barriers and strong brand and customer resource barriers, with a broad market demand expected to accelerate the replacement of traditional processing technologies. The market is anticipated to expand significantly due to supportive government policies and the development of downstream application fields [1][6][10]. Industry Definition - Ultrafast lasers refer to lasers with pulse durations shorter than nanoseconds, primarily including picosecond and femtosecond lasers. These lasers are recognized for their high instantaneous power and stable beam quality, making them suitable for various applications in medical, aerospace, consumer electronics, and precision machinery sectors [2][3]. Industry Classification - The ultrafast laser industry is classified based on the pulse width of the output laser into picosecond lasers and femtosecond lasers [3][4][5]. Industry Characteristics - The ultrafast laser industry features high technical barriers, high brand and customer resource barriers, and widespread market demand [6][10]. Development History - The ultrafast laser technology has evolved significantly since the 1960s, with key milestones including the development of the first ruby laser in China and the invention of CPA technology in the 1980s, leading to the commercialization of ultrafast lasers in the early 2000s. The industry saw a significant surge in 2020, with a near doubling of shipment volumes [11][15][14]. Industry Chain Analysis - The ultrafast laser industry chain consists of upstream raw materials (optical components, electronic components, pumping sources, and laser crystals), midstream manufacturing, and downstream applications in fields such as photovoltaic energy, medical aesthetics, and aerospace [16][19][26]. Market Size - The ultrafast laser market in China grew from 2.26 billion RMB in 2018 to 4.02 billion RMB in 2023, with a compound annual growth rate (CAGR) of 12.21%. The market is projected to reach 5.66 billion RMB by 2028, with a CAGR of 7.38% [28][29]. Future Market Drivers - The expansion of downstream application fields and the development of supporting industries are expected to drive the rapid growth of the ultrafast laser industry. The technology's advantages in precision, efficiency, and low energy consumption position it as a key player in modern manufacturing [31][32]. Competitive Landscape - The ultrafast laser industry is dominated by international players such as Coherent, IPG Photonics, and Trumpf, with a growing presence of Chinese companies like Han's Laser and Delong Laser. The competitive landscape is shaped by early market entry and technological advancements [37][38][40].

我们不是资讯的搬运工 而是有态度的发现者 万和财富早班 2025年3月13日 | ● 国内金融市场 · | | | | · 股指期货 · | | | --- | --- | --- | --- | --- | --- | | 品种 | 收盘 | 涨跌幅 | 品种 | 收盘 | 涨跌幅 | | 上证指数 | 3371.92 | -0.23% | 上证当月连续 | 2670.00 | 0.07% | | 深证成指 | 10843.23 | -0.17% | 沪深当月连续 | 3923.20 | 0.14% | | 创业板指 | 2191.27 | -0.58% | 恒生期货指数 | 30163.53 | -1.11% | 宏观消息汇总 1。证监会:加强战略性力量储备和稳市机制建设 坚决守住风 险底线 2. 国家医保局为脑机接口医疗服务价格单独立项 3. 证监会:支持优质未盈利科技企业发行上市 二、行业最新动态 1. 激光雷达龙头美股飙涨超50%!行业迎来放量盈利曙光,相关 个股:立昂微(605358)、永新光学(603297)等 2. 行业大会将召开 固态电池产业化应用有望加速,相关个股:联 得装备(300545 ...

来源 | 美股研究社 作者 | Manjusaka 2025年的科技圈格外热闹，AI与机器人再度火爆出圈，车圈打响智驾平权大战，外资纷纷高 呼中国科技重估之年到来。 作为智能汽车与机器人共同的激光雷达"眼"供应商，禾赛于3月11日公布了2024年第四季度 以及全年未经审计的财务数据。根据财报，公司全年实现营收20.8亿元，突破行业纪录； Non-GAAP净利润达到1400万元，禾赛成了全球首家实现全年Non-GAAP盈利的上市激光雷 达企业。 截至3月11日美股收盘，禾赛股价暴涨50.41%。 客户池稳定扩大，一个里程碑时刻在2024年底到来。12月，禾赛单月出货量突破10万台，成 为全球首个达成单月交付量超过10万台的激光雷达企业。 禾赛兑现"赚钱"的预期，标志着激光雷达行业迈过商业化的拐点时刻。而由于禾赛深度参与了 智能驾驶与机器人这两个热门赛道的产业化进程。这份财报，也为市场提供了一个来自产业链 内部的独特视角。 全 面 盈 利 背 后 ： 十 年 奋 斗 终 迎 业 绩 拐 点 从2024年的智能驾驶到2025年的机器人，多起标志性事件拉动产业发展进度条。萝卜快跑吹 响Robotaxi商业化元年的号角 ...

作 者丨孙永乐 编 辑丨陈思颖 3月1 2日，受美股禾赛科技（HSAI.O）大涨的带动，A股激光雷达方向全线走强，智能驾驶 概念同样走高。 受此消息影响，美股市场上，禾赛科技隔夜涨超5 0%，报每股2 4 . 0 8美元，年内涨幅达到 7 4%。 与此同时，禾赛科技今日宣布，与一家欧洲顶级主机厂达成了具有里程碑意义的多年独家定 点合作，为其下一代汽车平台提供高性能超远距激光雷达，覆盖其燃油车和新能源汽车的多 款车型。 截至收盘，北交所个股机科股份（8 3 5 5 7 9 .BJ）涨超2 0%，永新光学（6 0 3 2 9 7 .SH）涨停，英 唐智控（3 0 0 1 3 1 .SZ）、中贝通信（6 0 3 2 2 0 .SH）等多股跟涨。 | | | 激光雷达1 | | E | | --- | --- | --- | --- | --- | | | | 1628.65 2.21% | | | | 成份股 | 资金 | 关联基金 必读 | 股幅 | 资讯 | | 全部市场(36) V | | 自选 龙头(8) 连板数(1) | | 许公 | | √ 显示简介 | | 最新 / | 涨幅↓ | 涨跌 | | 机科 ...

Investment Rating - The report assigns a "Buy" rating for Hesai Technology (HSAI) for the first time [3]. Core Insights - Hesai Technology is a leading player in the LiDAR market with advanced technology and extensive collaboration with downstream customers. The company has secured over 100 pre-installed production models from 22 major OEM clients, positioning it to benefit from the growing demand for automotive and robotic LiDAR in China [3]. - The report forecasts Hesai's total revenue for 2024-2026 to be approximately 2.09 billion, 3.27 billion, and 4.66 billion CNY, corresponding to 290 million, 450 million, and 640 million USD, respectively. The current market valuation corresponds to price-to-sales (P/S) ratios of 7.6, 4.9, and 3.4 for the same years [3]. Summary by Sections 1. LiDAR Market Leadership and Product Matrix - Hesai Technology, established in 2014, is recognized as the first publicly listed LiDAR company in China, focusing on advanced driver-assistance systems (ADAS) and autonomous vehicles. The company has a comprehensive product matrix covering various applications, including ADAS, autonomous driving, and robotics [17][18]. - The company has developed a complete range of products, including ATX, AT128, and PANDAR series, catering to different distance and application needs [20][21]. 2. Demand from Automotive and Robotics - The report highlights the significant growth potential for LiDAR in the automotive sector, with a projected market size exceeding 3.6 billion USD by 2029, driven by strong demand in China [52][54]. - The penetration of LiDAR in lower-priced vehicles is expected to increase, with prices for solid-state LiDAR dropping to around 200 USD, making advanced driving solutions more accessible [56]. 3. Self-Built Capacity and In-House Chip Development - Hesai has established a fully integrated manufacturing center, enabling it to maintain quality and efficiency in production. The company has filed 1,565 patents in key technology areas, ensuring a competitive edge [9][3]. - The report emphasizes the importance of self-developed chips in enhancing product performance and reducing costs, contributing to the company's technological moat [3][9]. 4. Revenue Forecast and Investment Recommendations - The report projects a recovery in revenue growth, with a forecasted total revenue of 1.36 billion CNY for the first three quarters of 2024, reflecting a year-on-year increase of 3.2% [26]. - Hesai is expected to achieve profitability under non-GAAP measures in 2024, marking a significant milestone as the first LiDAR company to do so globally [26].