前脚说"不想和马斯克做朋友"，且认为电动车生意很难做的段永平，后脚就说要买入特斯拉。日前，段 永平在雪球上表示："最近终于再多花了点时间看了很多马斯克的东西。面对他的那么多厉害的产品， 我上个礼拜和这个礼拜已经开始投点在特斯拉上了，满意了吧？最近几年确实感受到马斯克的厉害，而 且他的第一性原理我是很好理解的。不做朋友但还是可以投资的嘛，反正他也不打球。就当风投吧，我 觉得10年后回头看，这个投资也许是对的。" 对此，网友们议论纷纷，面对部分网友的询问，段永平还回应："不是玩笑，是认真的。"还有网友询问 段永平，是直接买股票还是卖put。段永平表示："我卖put了，我很可能会一直卖，除非我又又又改变想 法了。目前以卖短期的put为主，因为年化比较高（我觉得也许不至于就一飞冲天了吧）。我卖put的时 候最重要的就是想一点：这个价钱卖给我10年后回头看是个便宜的价钱吗？如果答案是不便宜，那这个 put就不可以卖。" 而在此之前，段永平在接受雪球创始人方三文专访时曾表示，虽然马斯克很厉害，有很多想法，想法也 很先进，但投资他还是比较难。他还坦言，自己不喜欢马斯克的品行，"投资实际上是在跟他做朋友， 我不想跟他做朋友， ...

（原标题：曾说电动车生意很难做的段永平，买入特斯拉！） 不做朋友，但还是可以投资！ 在段永平看来，买股票就是买公司。他认为，投资很简单，但不容易。简单是指"要看公司，看得懂这 门生意，也要懂未来的现金流情况"，而之所以难，是因为很难做到这一点，大部分公司都不容易看 懂。 因此，段永平经常跟大家提及的股票就只有三只：苹果、腾讯、茅台。 根据美国证监会（SEC）13F文件披露，截至2025年第三季度，段永平管理的H&H International Investment迎来规模的大幅增长，三季度末持仓总市值达到146.79亿美元，约合人民币1042.88亿元，较 上季度环比增长27.27%。其组合中的核心持仓为：苹果、阿里巴巴、谷歌、微软、英伟达、阿斯麦、 台积电等一众科技股。虽然三季度对苹果、拼多多、阿里巴巴、谷歌和英伟达都有所减持，但总体而 言，减持幅度都不大。 责编：叶舒筠 对此，网友们议论纷纷，面对部分网友的询问，段永平还回应："不是玩笑，是认真的。"还有网友询问 段永平，是直接买股票还是卖put。段永平表示："我卖put了，我很可能会一直卖，除非我又又又改变想 法了。目前以卖短期的put为主，因为年化比较 ...

但对于电动车竞争到最后谁能活下来，他表示："就像我们当年做游戏机一样，一开始可能有几百家企业涌 入，但卷到最后只会剩下几家能赚钱，其余的都会倒下。"对于谁能活下来，他坦言自己也不知道。 段永平开始研究特斯拉，始于其看了马斯克最近的演讲。"突然明白电动车确实是省能源的，因为电动车大多 是晚上充电，而很多发电厂因为大多地方都是白天用电，所以一部分电力是无法得到使用的。"看完之后，他 便表示，"是时候再认真看一下特斯拉了"。 在段永平看来，买股票就是买公司。他认为，投资很简单，但不容易。简单是指"要看公司，看得懂这门生 意，也要懂未来的现金流情况"，而之所以难，是因为很难做到这一点，大部分公司都不容易看懂。 因此，段永平经常跟大家提及的股票就只有三只：苹果、腾讯、茅台。 根据美国证监会（SEC）13F文件披露，截至2025年第三季度，段永平管理的H&H International Investment迎来 规模的大幅增长，三季度末持仓总市值达到146.79亿美元，约合人民币1042.88亿元，较上季度环比增长 不做朋友，但还是可以投资！ 前脚说"不想和马斯克做朋友"，且认为电动车生意很难做的段永平，后脚就说要买入特 ...

在近日的访谈中，段永平公开表示"投资特斯拉实际上是在跟马斯克做朋友，我不想跟他做朋友"。然 而，话音未落，他又公开称自己买了特斯拉的股票。对此，段永平表示："不做朋友但还是可以投资 的。" 炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 做朋友是一回事儿，投资是另一回事儿。 一石激起千层浪，网友们对此议论纷纷。面对部分网友的询问，段永平也进行了回应："不是玩笑，是 认真的。" 段永平买入特斯拉 11月20日，段永平在雪球上公开发文表示："最近终于再多花了点时间看了很多马斯克的东西。面对他 的那么多厉害的产品，我上个礼拜和这个礼拜已经开始投点在特斯拉上了，满意了吧？最近几年确实感 受到马斯克的厉害，而且他的第一性原理我是很好理解的。不做朋友但还是可以投资的嘛，反正他也不 打球。就当风投吧，我觉得10年后回头看，这个投资也许是对的。" 值得一提的是，在近日与雪球创始人方三文的对话中，段永平曾谈及对特斯拉的看法。 他表示："马斯克这个人厉害，他有很多想法，也确实是很先进的。但是投资我觉得比较难，从个人的 角度来讲，我不是很喜欢这个人的品行。你投资实际上是在跟他做朋友，我不想跟他做朋友，哪怕 ...

Core Insights - The 2025 China Lightweight Electric Vehicle Innovation Development Conference was successfully held in Wuxi, focusing on high-quality development in the electric vehicle industry, with participation from over 300 professionals including government representatives and industry leaders [1] - The conference featured a keynote speech by Zhao Yu, Deputy General Manager of SIBIC, discussing the innovative application of intelligent voice technology in the electric vehicle sector [1] - SIBIC has launched an intelligent solution for two-wheeled electric vehicles, integrating mobile internet and voice connectivity to enhance riding safety and facilitate smart upgrades for manufacturers [2] Group 1: Industry Developments - The conference aimed to create a new blueprint for high-quality development in the electric vehicle industry, emphasizing new standards, material innovations, and product empowerment [1] - The focus on intelligent features in two-wheeled electric vehicles reflects a shift in consumer demand towards convenience and safety rather than just basic transportation [1][2] Group 2: SIBIC's Innovations - SIBIC's intelligent solution for two-wheeled electric vehicles combines self-developed AI chips and comprehensive voice interaction technology, addressing challenges such as noise interference during rides [4] - The solution includes a range of products like smart alarms, helmets, and dashboards, enhancing the riding experience with features such as voice control, navigation, and real-time alerts [4][5] - Future plans include further exploration of smart connectivity in two-wheeled vehicles, aiming to make voice interaction a standard feature for enhanced user experience [5]

智能化，高端化，对两轮电动车来说，实在是一个过于无关紧要的事情了。 可能谁也没有想过，风里来雨里去的电瓶车，也能化身高端智能消费品，雅迪和爱玛，还有如此酷炫的一集。 还有一家叫做「九号」的公司，在这个赛道呼风唤雨。 也没人能想到，那个风光无限，万人追捧，含着金汤匙出生的小牛电动车，居然要上演出一场《伤仲永》。 故事还要从2015年讲起。 01 2015年，李一男发出一条微博，内容是「酝酿良久，愿将一切过往归零，创业路上再次出发」。 宣告小牛电动车的项目启动。 李一男何许人也？ 少年英才这块，中国科创界，李一男称第二，没人敢称第一。 李一男1970年出生，15岁考入华中理工大学（现华中科技大学）少年班，23岁研究生毕业加入华为，入职半个月升主任工程师，半年升中央研究部副总经 理，两年升中央研究部总裁兼公司总工程师，27岁升华为副总裁，地位和股权仅次于任正非，被誉为初代华为太子爷。 后来他叛出华为，离职创业。创办的公司被华为穷追猛打，最后以17亿元的价格被老东家收购。 再后来，李一男被李彦宏招去百度当了CTO，后来又做过中移动12580CEO，金沙江创投合伙人。 李一男看来，小牛是一个千载难逢的机会，说不定能成为 ...

Core Insights - The two-wheeled commercial vehicle market is experiencing new growth opportunities driven by the rapid development of instant delivery and life services [2] - Aima Technology Group launched its commercial sub-brand "Mahe" to focus on four core scenarios: instant delivery, life services, tourism rentals, and customized government and enterprise solutions [2][4] Group 1 - Aima's Senior Vice President Li Yubao emphasized the brand's commitment to high-quality design, craftsmanship, and components to drive the development of commercial products [4] - The two-wheeled commercial vehicle market is in a golden period of scale expansion but faces challenges such as insufficient product standardization and low customization [4] - Aima Mahe aims to address industry pain points with the mission of "opening roads for efficient business" [4] Group 2 - Aima Mahe will utilize the IPMS system to create a fully integrated model, focusing on high-quality products supported by an all-channel network for efficient collaboration from R&D to implementation [5] - The brand is centered around the needs of riders, aiming to create a commercial brand that satisfies riders, benefits partners, and gains industry recognition [5] - Aima Mahe is shifting from merely selling vehicles to providing "professional mobile productivity solutions," including a rental and sales platform and a rider service network [5] Group 3 - Aima Mahe showcased a professional product matrix covering four core scenarios, including the S1 Max, which has been upgraded for safety, comfort, and speed for the delivery sector [5] - Partners such as JD Home Services, SF Express, and Swan Home participated in the launch ceremony, indicating future collaboration in product customization, scenario expansion, and channel development [5]

小牛电动 20251119 摘要 2025 年前九个月，小牛电动整车销量突破 100 万台，同比增长 46%， 中国区销量为 95 万台，同比增长 65%，海外销量为 6.6 万台。中国市 场门店数量达到 4,542 家，三季度总营收 16.94 亿元，同比增长 65%。 中国区整车收入同比增长 86%至 14.82 亿元，主要受益于整车销量及 ASP 提升，国内整车 ASP 为 3,283 元，同比增加 6.7%。MT 车型、 NLT 和 NS NST 等中高端车型合计占总销量的 50%左右。 海外整车收入同比下降 48%至 6,700 万元，主要由于滑板车销量及 ASP 下降，但高价位电摩和电轻摩产品占比提升，使得海外整车 ASP 提 升至 4,648 元。非车收入 1.45 亿元，同比增长 51%。 三季度毛利 3.7 亿元，毛利率同比上升 8 个百分点至 21.8%，主要归因 于成本优化及中国区销售增长带来的规模效应。营运费用 2.97 亿元， 费比 17.5%低于去年同期。净利润 8,200 万元，净利率 7,8%。 受新旧国标切换影响，九月份出货量增速放缓，但国内市场仍保持强劲 增长。公司对滑板车 ...

Group 1: Energy Storage - The global large-scale energy storage tender data remains robust, with rising energy cell prices confirming strong downstream demand for energy storage [1] - Domestic large-scale energy storage is experiencing non-linear growth after reaching an economic inflection point, driven by a surge in electricity consumption from data centers in the U.S. [1] - European household storage demand is showing a mild recovery, while emerging markets are exceeding expectations in household storage demand [1] Group 2: Wind Power - The domestic offshore wind power sector continues to show high prosperity, with the acceleration of industrial chain and market mechanisms [1] - Recent developments include the public announcement of sea area usage reports for four offshore wind projects in Jiangsu and the initiation of a 20MW floating wind power demonstration project in Yangjiang [1] Group 3: Photovoltaics - The photovoltaic industry chain is experiencing weak price stability, with ongoing discussions about anti-involution storage policies, although actual implementation requires specific details [1] - Battery cell prices have shown slight downward fluctuations, while prices in other segments remain weakly stable, influenced by changes in terminal demand [1] Group 4: Electric Vehicles - Prices for upstream lithium battery raw materials are rising, with lithium carbonate and lithium hydroxide increasing for the fourth consecutive week [3] - The capacity utilization rate for power batteries exceeds 92%, with major companies like CATL and Zhongchuang Innovation operating at full capacity [3] - A new trend of deep joint ventures between vehicle manufacturers and battery producers is emerging, with 17 mainstream new energy vehicle companies launching tax rebate schemes [3] Group 5: Robotics and Hydrogen Energy - Yuzhu Technology has completed IPO guidance, while Tesla is expanding its Texas Gigafactory [4] - The full-size industrial humanoid robot Walker S2 from Ubtech has officially begun mass production and delivery [4] - The hydrogen energy sector is seeing increased support policies, with the world's largest solid-state hydrogen storage project successfully launched, driven by IMO emission reduction goals and European carbon taxes [4] - The hydrogen energy industry is developing positively, with a focus on constructing a factor assurance system and reducing financing difficulties [4]

Core Insights - Aima has launched a commercial sub-brand "Aima Mahe," aiming to tap into the electric commercial vehicle market by leveraging its extensive resources and focusing on four core scenarios: instant delivery, life services, travel rentals, and customized solutions for government and enterprises [1][3] - The launch represents a strategic extension of Aima's expertise in the two-wheeled transportation sector into commercial applications, marking a significant growth opportunity [1][3] Company Strategy - Aima has completed nationwide base construction, providing a solid foundation for Aima Mahe's production and market presence [3] - The company emphasizes a commitment to technological innovation and quality, which will drive the development of Aima Mahe's commercial product line [3] Market Opportunity - The commercial two-wheeled vehicle market is entering a golden period of scale expansion, despite facing multiple challenges [3] - Aima Mahe aims to address the core demands of commercial users for efficient transportation and their emotional needs for respect and recognition through products that combine professional performance and practical value [3] Product Offering - Aima Mahe has unveiled a specialized product matrix covering four key scenarios, establishing the tool attributes and ecological value of two-wheeled commercial electric vehicles through scenario-based innovation [3] - The brand has also created a rental and sales platform for transportation and a "Mahe Rider Home" store category to address operational pain points for commercial users, providing integrated solutions from products to software and financial services [3]