1月12日，岚图汽车科技股份有限公司（简称"岚图汽车"）与华为控股子公司深圳引望智能技术有限公司（简称"引望"）签署深化战略 合作协议，将在智能驾驶及智能座舱联合开发、ToC软件联合运营等方面深化战略合作，打造面向全球市场的智能汽车新标杆。 and proportions from the may 秉承"资源共享、优势互补、合作共赢、共促发展"的原则，岚图汽车与引望将开展开发模式的创新合作。双方将组建联合团队，建立 新应用场景共创机制，提升开发效率，加快车型上市节奏，共同打造爆款应用场景。 根据协议，双方将成立ToC软件联合运营团队，从产品策划到用户运营实现全价值链合作，加速软件服务的市场化进程，共同为用户 带来更多好用、有趣且智能的软件服务，提升用户智能化体验。此外，双方还将在营销推广、品牌规范等层面深化合作，共同推动汽车销 售，扩大市场规模。 岚图汽车与引望签署深化战略合作协议。 000 0 100 color 30 P e 岚图汽车全系车型。 自2024年1月岚图与引望正式签署战略合作协议以来，双方围绕用户需求共同打造极致的智能出行体验。2025年，岚图汽车开启ALL in智能化战略，岚图FREE+、2 ...

Investment Highlights - The smart car index decreased by 2.0%, while the index excluding Tesla fell by 6.9%. As of January 8, 2026, the smart car index PS (TTM) is at 14.0x, ranking in the 96th percentile since the beginning of 2023. The index excluding Tesla has a PS (TTM) of 7.2x, ranking in the 97th percentile since the beginning of 2023. The top five gainers in the smart car index include Hezhima Intelligent, Siwei Map, Zhejiang Shibao-H, Qianli Technology, and Hesai [4][10][16]. Industry Core Changes - NVIDIA's CEO Jensen Huang announced the open-source autonomous driving model Alpamayo at CES 2026, accelerating the layout of Robotaxi [5][21]. - The U.S. plans to hold a hearing on January 13, 2026, to discuss new automotive legislation, increasing the annual deployment cap for vehicles without traditional controls from 2,500 to 90,000 [5][21]. - XPeng announced the launch of its second-generation VLA and Robotaxi at its global product launch event, with mass production expected in the first half of 2026 [5][21]. Current Investment Recommendations - The industry maintains a strong outlook for the 2026 L4 RoboX mainline, favoring B-end software stocks over C-end hardware stocks. Preferred H-shares include XPeng Motors, Horizon Robotics, WeRide, and Cao Cao/Hezhima Intelligent; preferred A-shares include Qianli Technology, Desay SV, and Jingwei Hengrun [6][10]. - Downstream application-related stocks from the Robotaxi perspective include: 1. Integrated model: Tesla/XPeng Motors 2. Technology providers + operational sharing model: Horizon/Baidu/WeRide/Qianli Technology, etc. 3. Transformation of ride-hailing/taxi services: Didi/Cao Cao Mobility/Ruqi Mobility/Volkswagen Transportation/Jinjiang Online [6][10]. - Upstream supply chain-related stocks include: 1. B-end unmanned vehicle OEMs: BAIC Blue Valley/Guangzhou Automobile Group/Jiangling Motors/Tongli Co./Yika Intelligent (planned IPO) 2. Core upstream suppliers: Testing services (China Automotive Research/China Automotive Corporation), chips (Horizon Robotics/Hezhima Intelligent), domain controllers (Desay SV/Jingwei Hengrun/Junsheng Electronics/Huayang Group/Keboda), sensors (Sunyu Optical Technology/Hesai/Suteng Juchuang), steer-by-wire chassis (Bertley/Nexteer/Zhejiang Shibao), lights (Xingyu Co.) [6][10].

老婆是初恋，头发浓密、身高1米81，以700分（比满分少10分）的成绩成为高考状元，用2年学完大学4 年学分，人生第一桶金便达100万，编写的程序入选武大教材，28岁执掌金山CEO，38岁实现财富自 由，用8年完成小米上市，成就最年轻的世界500强企业，北漂9年拿下32万平米产业，跨界造车3年便站 稳脚跟……雷军的人生履历曾被无数满分标签堆砌成近乎完美的存在。但这份完美人设，却在2025年遭 遇了前所未有的舆论"围剿"。 2026年的雷军跨年直播虽迟但到，热度依然空前。4.5小时的时长创下车圈直播纪录，相关话题多次冲 上热搜，成为开年现象级事件。镜头前，雷军一改往日的风轻云淡，神情与言谈间不时流露出焦虑的情 绪，"被黑之后有心理阴影"具象化了。弹幕中不少网友神点评："这是把老实人给逼急了。" 面对网络流传的"绿化带战神"的标签，雷军直怼是"断章取义的恶意剪辑"；针对"小米不让农民卖小 米"的质疑，他愤而回应"我就是在农村长大的，怎么可能不让农民卖小米"；对于"1300公里只充一次 电""200公里瞬间刹停""7000法务"等不实谣传，他也逐一否认；而在谈到"小字营销"风波时，他坦然承 认是陋习，"这个毛病确实 ...

权益市场交投活跃，顺势而为避免追高 公募基金指数跟踪周报（2026.01.05-2026.01.09） 分析师：孙书娜 分析师登记编码：S0890523070001 电话：021-20321306 邮箱：sunshuna@cnhbstock.com 分析师登记编码：S0890522090001 电话：021-20321067 邮箱：wanghua@cnhbstock.com 研究助理：张琦炜 销售服务电话： 021-20515355 2025/12/29》2025-12-29 2026 年 01 月 12 日 证券研究报告 | 公募基金周报 投资要点 分析师：王骅 权益市场回顾与展望：开年第一周（2026.01.05-2026.01.09）A 股市场延续 上行趋势，上证指数实现 16 连阳成功站上 4100 点，主要宽基指数周内普遍上 涨并先后创下阶段新高。市场交投维持高位活跃度，周五成交额重回 3 万亿峰 值，同时两融规模也突破 2.6 万亿，再创历史新高。市场之所以如此火爆，更 多由自下而上的成长主题集中驱动，具体看，AI 应用、商业航天、脑机接口等 科技成长题材轮动表现，中小盘风格显著占优。 邮箱：zh ...

Equity Market Review and Outlook - The A-share market continued its upward trend in the first week of 2026 (January 5-9), with the Shanghai Composite Index achieving a 16-day winning streak and surpassing 4100 points. Major broad-based indices generally rose and reached new highs during the week [1][5] - Market trading remained highly active, with Friday's trading volume returning to the peak of 3 trillion yuan, and the margin financing and securities lending scale exceeding 2.6 trillion yuan, setting a new historical high [1][5] - The market's robust performance was primarily driven by bottom-up growth themes, particularly in technology sectors such as AI applications, commercial aerospace, and brain-computer interfaces, with small and mid-cap stocks significantly outperforming [1][5] - The brain-computer interface sector was notably active, driven by expectations of Neuralink's mass production and the establishment of domestic companies, alongside positive sentiment from the "14th Five-Year Plan" [5][6] - The commercial aerospace sector also saw continuous attention due to an IPO boom and supportive policies, with funds increasingly focusing on sub-sectors like space computing and solar power in space [6] Fixed Income Market Review and Outlook - The bond market experienced a "V-shaped reversal" during the week, with the 1-year government bond yield declining by 4.35 basis points to 1.29%, while the 10-year and 30-year government bond yields rose by 3.55 basis points to 1.88% and 4.95 basis points to 2.30%, respectively [2][9] - The bond market sentiment showed slight stabilization, but the likelihood of interest rate cuts in the medium term remains low, and further monetary policy easing is not expected [2][9] - Despite the better-than-expected implementation of new public fund fee regulations, the bond market lacks positive catalysts, and with the ongoing spring rally in the equity market, the bond market may experience short-term rebounds but is likely to maintain a neutral stance in the medium term [2][9] Macro Economic Outlook - The U.S. job market shows resilience but also structural pressures, with inflation data expected to have limited risk of a strong rebound. The market has already priced in the likelihood of the Federal Reserve not cutting interest rates in January [7][8] - Overall market liquidity is neutral to optimistic, with potential continued inflows of external funds due to profit-taking effects, suggesting that the market may continue its upward trend [7][8]

Group 1 - The core point of the news is that Junsheng Electronics has experienced a decline in stock price, dropping 2.92% to 30.60 CNY per share, with a total market capitalization of 474.54 billion CNY and a cumulative drop of 6.45% over four consecutive days [1] - Junsheng Electronics, established on August 7, 1992, and listed on December 6, 1993, is primarily engaged in providing smart automotive technology solutions, with its main business segments including automotive safety systems (62.53% of revenue), automotive electronics systems (27.53%), and other segments [1] - The company operates mainly in the domestic market and has five business divisions, including automotive safety systems, automotive electronics systems, automotive parts, weighing instruments, and other segments [1] Group 2 - According to data from the top ten holdings of funds, one fund under Fuan Da has a significant position in Junsheng Electronics, holding 49,300 shares, which accounts for 1.18% of the fund's net value, ranking as the third-largest holding [2] - The Fuan Da fund has incurred a floating loss of approximately 10.4 thousand CNY during the four-day decline, with a current floating loss of about 4.54 thousand CNY [2] - The Fuan Da fund, established on September 8, 2021, has a total scale of 145 million CNY, with a year-to-date return of 4.25% and a one-year return of 32.33% [2]

企查查APP显示，近日，广州小鹏汽车科技有限公司"机器人视觉标定方法、装置、机器人和存储介质"专利公布。企查查专利摘要显示，该方法 包括：在接收到标定需求后，基于标定需求规划机器人的运动轨迹；机器人配备有视觉传感器和运动传感器；控制机器人按照运动轨迹进行移 动，并在移动过程中，控制视觉传感器实时采集机器人的前方标靶的视觉数据，以及控制运动传感器实时采集机器人的末端执行器的运动数据； 采用视觉数据和运动数据，实时计算视觉传感器相对末端执行器的目标外参。 本申请提供的方案，能够提高机器人在动态工作环境下的视觉标定精度，并实现标定过程的全程自动化，从而满足实际生产中的高精度和自动化 的作业需求。 | 食品饮料ETF | | --- | | (产品代码: 515170) | | ★ 跟踪：中证细分食品饮料产业主题指数 | | 近五日涨跌: 1.64% | | 市盈率： 20.24倍 | | 资金流向: 最新份额为101.9亿份, 减 | | 少了300.0万份,净申 | | 赎-165.9万元。 11 holm 11 1.2 | （原标题：小鹏汽车公布机器人视觉标定相关专利） ...

Investment Rating - The industry investment rating is "Outperform the Market," indicating that the industry index is expected to perform better than the benchmark index over the next 6-12 months [40]. Core Insights - The "AI + Manufacturing" initiative aims to establish a globally leading development ecosystem by 2027, focusing on key technology breakthroughs and the cultivation of influential enterprises [11][13]. - The CES 2026 showcased significant advancements in smart electric vehicles, highlighting the industry's shift towards deep integration of hardware and software solutions [14][16]. - China's application for over 200,000 satellite frequency resources marks a strategic move in the low Earth orbit satellite internet sector, aiming to enhance its capabilities against competitors like SpaceX [17][20]. - SpaceX's approval to deploy an additional 7,500 second-generation Starlink satellites reinforces its dominant position in the global low Earth orbit satellite market [21][23]. - The upcoming release of DeepSeek V4 is expected to significantly impact the AI landscape, particularly in code generation capabilities, positioning it as a strong competitor in the market [24][25]. Summary by Sections AI + Manufacturing - The initiative outlines 21 specific tasks across seven key areas, including innovation, product breakthroughs, and international cooperation, to support the integration of AI in manufacturing [12]. - The policy aims to reshape production models and create vast market opportunities across the supply chain [11][13]. CES 2026 - The event highlighted the transition of the automotive industry from basic electrification to deep technological integration, with a focus on unique user experiences [14][16]. - Companies showcased advancements in smart driving systems and integrated solutions for vehicle production [15]. Satellite Internet - China's strategic application for satellite frequency resources aims to secure a competitive edge in the satellite internet market, with significant implications for future deployment and operational capabilities [17][20]. - The initiative is seen as a national priority, with the potential to enhance China's satellite manufacturing and launch capabilities [18]. SpaceX Developments - SpaceX's expansion of its Starlink satellite network is expected to improve internet connectivity and performance, particularly in underserved regions [21][22]. - The approval of new satellites and technology upgrades positions SpaceX as a key player in shaping global satellite internet standards [23]. DeepSeek V4 - The anticipated launch of DeepSeek V4 is expected to elevate its competitive stance in the AI sector, particularly in programming capabilities, challenging existing market leaders [24][25].

Core Viewpoint - The collaboration between BAIC New Energy and Pony.ai marks the transition into the "2.0 era" of autonomous driving, focusing on a systematic approach across five dimensions: product, market, industry, ecology, and capital [2][6]. Group 1: Partnership Details - BAIC New Energy and Pony.ai signed a cooperation agreement to deepen their collaboration, leveraging BAIC's redundant chassis architecture and Pony.ai's seventh-generation autonomous driving system to develop the L4-level Arcfox Alpha T5 autonomous taxi [2]. - The first mass-produced vehicle is set to roll off the production line in July 2025, with over 600 units already produced, capable of operating in various complex driving scenarios, including urban roads and highways [4]. Group 2: Commercial Operations - The Arcfox Alpha T5 autonomous taxi began full-scale operations in key areas such as Beijing Yizhuang, Shenzhen Nanshan, and Bao'an District starting November 2025, providing a seamless and intelligent travel experience [4]. - The operational model aims to create a closed loop of "mass production, testing, and operation," ensuring efficient integration of autonomous driving technology into everyday use [4]. Group 3: Strategic Vision - BAIC New Energy is committed to an open and collaborative ecological strategy in the smart mobility sector, while Pony.ai brings extensive experience in system development, fleet management, and commercial operations [6]. - The strategic upgrade of the partnership is based on a shared understanding of industry trends and confidence in past achievements, with plans to explore further collaborations with leading global internet and technology companies [6].

更多智能制造产业资讯 …… 1.【小米二手车价大跳水，小米SU7半年跌5万】据蓝鲸新闻报道，近期小米二手车行情出现大幅下 滑，三款车型中SU7价格低至15万，SU7 Ultra 跌幅最大，YU7相对跌幅较小。 从行驶里程来看， 车况较新的准新车（约行驶百公里内）普遍较新车价格低约2万元；上牌半年左右、行驶约1万公里的 车辆，价格差距通常在5万元左右；而当里程超过2万公里时，贬值幅度超过8万元。当前全国范围内 最低价的SU7仅售15.3万元（6万公里）。 SU7 Ultra则贬值更快。SU7 Ultra自2025年年初上市新 车落地价在53万元左右，懂车帝数据显示，当前全国均价为41.2万元，二手准新车较原价普遍下跌超 过10万元。部分1万公里左右二手车跌幅更是超过15万元。 而相比上述两款车型，YU7的贬值幅度 相对较小，准新车的跌幅基本在1万元以内。（南方网） 2.【宁德时代旗下宁家服务打造中东最大新能源后市场体验中心】1月10日，宁德时代旗下全球新能 源后市场服务品牌"宁家服务"（NING Service）首家中东体验中心在沙特利雅得正式开业。该中心 是目前中东规模最大的新能源后市场服务中心，为客户提供涵 ...