首驱科技瞄准这一"高维战场"，以全球最高性能标准为参照，构建覆盖电驱、热管理、结构安全与空气动力学的全栈技术体系。与清华合肥院的合作，成为 推动该战略落地的关键支点。 F I II THE a w 官 | amazon stage l 长期以来，两轮电动车市场以城市通勤为核心场景，研发逻辑围绕续航、成本与智能化展开，技术路径趋于同质化。相比之下，国际超高速电摩赛事早已成 为尖端电驱、能量管理与系统集成技术的前沿试验场。 中国经济网北京10月22日讯(记者李方)中国经济网记者今日获悉，首驱科技与清华大学合肥公共安全研究院(简称"清华合肥院")正式签署超高速电摩风洞实 验战略合作协议。这一合作标志着首驱科技全面进军超高速电摩赛道，致力于打造世界最快的两轮电动车，这也是中国电摩产业从"经验驱动"向"科学驱 动"跃迁的关键一步。 据悉，此次合作的核心，在于将国家级环境风洞实验室深度融入超高速电摩的研发体系。清华合肥院风洞是全球唯一具备多灾耦合模拟能力的公共安全科研 设施，可模拟最高80m/s风速(相当于18级台风)的极端气流环境，同时复现极寒、暴雪、冰冻、酷热、湿热、强日照等多种复杂气候条件，具备国际领先的 空气动力 ...

Group 1 - ARK Investment, led by Cathie Wood, has recently increased its stake in Chinese companies, particularly BYD (ADR), indicating confidence in the Chinese AI and technology sectors [1][3] - On October 20 and 21, ARKQ fund purchased 69,000 and 55,523 shares of BYD (ADR) respectively, reflecting a strong belief in the company's market position and future prospects [2][3] - The continuous buying of BYD by ARK highlights the firm's commitment to the electric vehicle and clean energy sectors [2] Group 2 - Since September, ARK has been actively buying shares of Alibaba and Baidu, further demonstrating its bullish stance on Chinese tech stocks [3][4] - Recent quarterly reports from A-share companies show significant foreign investment in sectors such as AI, semiconductors, and high-end manufacturing, with some companies experiencing notable stock price increases [5][10] - Companies like Zhongcai Technology and StarNet Technology have seen substantial foreign buying, with StarNet's net profit increasing by 816.08% year-on-year [5][7] Group 3 - Foreign institutions are showing a positive outlook on Chinese assets, particularly in technology and new energy sectors, as highlighted by various investment firms [9][10] - A report from Swiss asset management emphasizes China's leading position in the energy transition value chain, particularly in the electric vehicle sector [10] - Despite a recovery in the Chinese stock market, many tech stocks still present attractive valuation levels, suggesting potential investment opportunities [10]

据悉，此次合作的核心，在于将国家级环境风洞实验室深度融入超高速电摩的研发体系。清华合肥院风 洞是全球唯一具备多灾耦合模拟能力的公共安全科研设施，可模拟最高80m/s风速（相当于18级台风） 的极端气流环境，同时复现极寒、暴雪、冰冻、酷热、湿热、强日照等多种复杂气候条件，具备领先的 空气动力学综合验证能力。 首驱科技将依托清华合肥院的环境风洞与科研能力，建立行业首个系统性空气动力学研发流程，涵盖高 速工况下的整车风阻优化、多气候环境下的气动稳定性验证、以及基于CFD仿真与实测数据闭环的迭代 开发机制，推动国内超高速电摩的研发从依赖"路试+经验调校"的粗放模式，转向"仿真-测试-反馈-优 化"的科学化、数据化路径。（文猛） 责任编辑：宋雅芳 新浪科技讯 10月22日上午消息，首驱科技与清华大学合肥公共安全研究院（简称"清华合肥院"）签署 超高速电摩风洞实验战略合作协议，宣布全面进军超高速电摩赛道，致力于打造世界最快的两轮电动 车。 长期以来，两轮电动车市场以城市通勤为核心场景，研发逻辑围绕续航、成本与智能化展开，技术路径 趋于同质化。相比之下，国际超高速电摩赛事早已成为尖端电驱、能量管理与系统集成技术的前沿试验 ...

Core Insights - The core viewpoint of the article highlights the impressive sales performance of Ninebot Company during the "Double Eleven" pre-sale period, showcasing significant growth in both online and offline sales channels [1] Sales Performance - Ninebot Company's total sales during the "Double Eleven" pre-sale period exceeded 618 million yuan, representing a year-on-year increase of 114% [1] - Online sales accounted for over 410 million yuan, marking a year-on-year growth of 164% [1] - Offline sales surpassed 200 million yuan, with a year-on-year increase of 53% [1] Factors Contributing to Success - The strong sales performance is attributed to Ninebot Company's long-term commitment to research and development investment and technological innovation [1] - The company successfully transformed its technological advantages into competitive intelligence in its products [1]

中美这事儿，很多人一上来就觉得是两个大国在掰手腕，国家之间你死我活的较量。可这表面上的对抗，真的就那么简单吗？其实藏在背后的，是美国那些 大资本家们在玩收割的把戏。中国正好成了他们眼里的钉子，因为中国不光没被收割干净，还反过来打破了他们的老套路，成为全球唯一一个真正顶住这种 压力的国家。 这事说到底，国家对抗是幌子，资本收割是核心。中国不光防住了，还反过来影响全球格局。美元霸权不是铁板一块，中国举措让更多国家看到出路。未 来，美国资本还会试新招，但中国已不是当年那个容易被套的国家。 中国加入世界贸易组织签字仪 SIGNING CEREMONY ON CHINA'S ACCESSION TO THE 美国资本收割全球的手段，早不是什么新鲜事儿。从二战后开始，美国靠着美元霸权，成了世界老大。美元是国际贸易的通用货币，美国印钞就能买全球的 东西，其他国家得辛辛苦苦出口换美元。这套体系，让美国资本家们坐享其成，通过美联储操控利率，制造经济周期，高点卖出，低点买入，收割别国的财 富。东南亚金融危机、俄罗斯解体后那阵子，都是活生生的例子。美国资本放贷出去，等到经济泡沫破裂，就低价抄底资产。 现在轮到中国了，中美贸易额20 ...

Core Viewpoint - Europe is attempting to adopt a more aggressive strategy towards China, signaling a desire to regain initiative in the global landscape, but underlying economic weaknesses reveal a contradictory stance [1][3]. Economic Analysis - Europe's economy is facing multiple pressures, including a shrinking manufacturing sector in Germany, declining consumer confidence in France, and renewed debt issues in Italy, leading to lowered growth expectations across the Eurozone [3][7]. - Despite having a large market of 450 million people, Europe's consumer power is structurally challenged, while China's market potential remains strong due to its vast domestic demand and robust supply chains [3][5]. Trade Relations - The EU's reliance on China for critical raw materials like rare earths and lithium remains significant, making the idea of "decoupling" unrealistic and economically burdensome for Europe [5][7]. - The EU's protective measures, such as the anti-subsidy investigation into Chinese electric vehicles, may inadvertently raise costs for European consumers and hinder the region's green transition [5][7]. Geopolitical Context - The shift in European political dynamics post-Russia-Ukraine conflict has led to a more ideologically driven approach to China, diminishing the previously cooperative atmosphere [8][10]. - China's response to European actions, such as the forced acquisition of Chinese semiconductor firms, indicates a shift from a hopeful to a more pragmatic stance in bilateral relations [10][12]. Strategic Considerations - Europe's ability to achieve "strategic autonomy" hinges on its capacity for independent foreign policy judgment and addressing its own industrial challenges rather than erecting trade barriers [16][17]. - The future of Sino-European relations will depend on Europe's choices, particularly whether it opts for genuine independence or continues to be influenced by the dynamics of great power competition [17].

Group 1: Event Overview - The 138th China Import and Export Fair (Canton Fair) has opened in Guangzhou, focusing on "advanced manufacturing" [1] - The fair features 74,600 booths and attracts 32,000 enterprises, marking a historical high in scale [2] Group 2: Company Highlights - Twelve enterprises from Wucheng District, Jinhua City, showcased new products and technologies, emphasizing "Wucheng Intelligent Manufacturing" [1] - A hardware manufacturing company reported high foot traffic and numerous orders signed on-site, reflecting strong demand [1] - The company specializes in various types of carts, with over 90% of its orders coming from overseas markets, primarily in Europe [1] - A motorcycle company presented a new electric motorcycle with a top speed of 120 km/h and a range of 80 km, highlighting its innovation and extensive patent portfolio [2] - The motorcycle company has developed a complete industrial chain over nearly 20 years, covering electric bicycles, motorcycles, wheelchairs, and skateboards [2] Group 3: Support and Services - The Wucheng District Business Development Promotion Center is actively assisting enterprises in preparing for the fair, aiming to convert foot traffic into orders [3] - The center emphasizes the importance of leveraging the fair to expand international market reach and enhance service support for participating companies [3]

Group 1: Energy Storage - The price of large storage battery cells continues to rise, indicating strong downstream demand for energy storage [1][4] - Global large storage bidding data remains robust, with urgent energy storage needs in the US PJM grid [4] - Domestic policies are emerging to support the growth of the independent energy storage market, while European gas price increases are boosting household storage demand [1][4] Group 2: Photovoltaics - The prices of silicon wafers and battery cells have continued to rise, while module prices remain stable [2] - Strong overseas market demand is providing significant support for battery cell prices, which in turn drives the upstream price trends [2] - Overseas orders and policy environments are the main drivers supporting the photovoltaic industry chain [2] Group 3: Wind Power - The domestic offshore wind power sector continues to show high activity, with new projects being initiated [3] - Recent developments include the construction of a 500MW offshore wind project in Hainan and the approval of another 500MW project in Yangjiang [3] Group 4: Electric Vehicles - Multiple ministries have issued a "three-year doubling" plan for charging facilities, indicating strong government support for the electric vehicle sector [6] - The sales of heavy-duty trucks in September saw a year-on-year increase of nearly 80%, exceeding expectations [6] - Recommendations include focusing on stable profit segments within the battery and structural components sectors, as well as long-term attention to materials benefiting from solid-state battery advancements [6] Group 5: Robotics and Hydrogen Energy - A strategic partnership has been established between Zhaofeng and German company Neura, with significant orders being delivered [7] - The hydrogen energy sector is experiencing positive development, with national support for new technology research and a focus on green methanol projects [7] - The overall hydrogen industry is accelerating, with a focus on hydrogen production, storage, and applications [7]

Investment Rating - Industry Investment Rating: Overweight [1] Core Views - The price of large storage battery cells continues to rise, indicating strong demand in the energy storage sector. The domestic independent energy storage market is expected to grow due to supportive policies [5][30]. - The domestic offshore wind power sector remains in a high-growth phase, with significant projects such as the 500MW offshore wind project in Hainan officially starting construction [4][21]. - The photovoltaic industry shows stable pricing across the supply chain, with strong overseas demand supporting battery prices [3][14]. Summary by Sections Photovoltaics - The price of silicon wafers and battery cells continues to rise, while module prices remain stable. Strong overseas market demand is a key driver for the price trends [3][14]. - The Qinghai 136 document has initiated bidding for renewable energy projects, with a total mechanism electricity scale of 22.41 billion kWh [14][15]. - GCL-Poly's third-quarter profit reached 960 million yuan, showcasing resilience in a competitive environment [16]. Wind Power - The domestic offshore wind power sector is experiencing high growth, with significant projects like the 500MW offshore wind project in Yangjiang receiving preliminary approval [4][20]. - The Zhejiang offshore wind project has awarded contracts for ±500kV DC submarine and land cables, indicating ongoing investment in infrastructure [20]. Energy Storage - The average price of large storage battery cells has risen to 0.308 yuan/Wh, reflecting strong demand and supply dynamics [25][30]. - In September, the domestic energy storage market saw a significant increase in new installations, with a total of 3.08GW/9.17GWh added, marking a year-on-year growth of 205% in power and 171% in capacity [26]. - The PJM region in the U.S. faces urgent energy storage needs, requiring the deployment of 16-23GW of storage systems over the next 7 to 15 years to meet increasing load demands [27][29]. Hydrogen Energy - The green methanol project is set to receive national subsidies, with companies like Fuan Energy investing in significant production capacity [31][39]. - The hydrogen energy sector is experiencing favorable development trends, with national support for new technologies and financing becoming more accessible [39]. Electric Grid Equipment - NVIDIA's release of the 800V DC white paper highlights the need for high-voltage direct current solutions in data centers, driven by increased power density and load variability [40]. - Investment opportunities in the electric grid sector include companies involved in high-voltage direct current technology and related equipment [41]. Electric Vehicles - The government has launched a three-year plan to double charging facilities, aiming for 28 million nationwide by the end of 2027 [42][45]. - The heavy-duty truck market has seen a nearly 80% year-on-year increase in sales, indicating strong demand and market recovery [45]. Humanoid Robots - A strategic partnership between Zhaofeng and German company Neura has been established, focusing on humanoid robot technology and significant order potential [47][49]. - The humanoid robot sector is entering a phase of small-batch production, with investment opportunities in companies with new technologies and strong order visibility [50].

Group 1 - The article highlights the growing trend of trade-in programs for old products, particularly in the electric vehicle and smartphone sectors, driven by government subsidies and promotional activities [1][3] - In Kunming, over 80% of electric vehicles sold are through trade-in processes, with additional discounts offered to consumers, leading to steady sales growth for stores [1] - The Yunnan provincial government has issued a total of 50.48 billion yuan in subsidies since the implementation of the trade-in policy, which has directly stimulated consumption of 393.82 billion yuan [3] Group 2 - The trade-in policy has been extended to rural and remote ethnic villages, with information translated into multiple minority languages to ensure accessibility [4] - Data shows significant increases in spending among rural residents in Yunnan, with furniture and household goods expenditures rising by 37.5% and 9.7% respectively in the first half of 2025 [5] - The Yunnan government is actively monitoring the trade-in program to prevent fraud and ensure effective use of funds, employing third-party inspections and big data for oversight [5] Group 3 - A convenient recycling system has been established in Kunming, allowing residents to easily trade in old appliances through mobile applications [7] - The recycling process is highly efficient, with a facility capable of processing over 1.2 million old appliances annually and achieving a resource utilization rate of over 95% by 2024 [7]