我们从相关渠道获取到了一组新款宝马M5旅行版谍照。 新车将采用部分新时代设计语言，整体更加运动。 据悉，新车将于2027年年中发布。 外观方面，新车目前在瑞典严寒地区进行测试，这款高性能旅行车虽全身覆盖伪装，但仍然可以看出，绝大多数 外观调整似乎仅集中在前脸。 从前保险杠侧面的橙色反光片来看，这台M5旅行版测试车应为美规版本。 其格栅尺寸有所缩小，双肾格栅疑似下调尺寸，为一条横向饰条留出空间。 即便有厚重伪装，仍能明显看出大灯采用了全新造型，不再沿引擎盖接缝向上延伸。 细节方面，新车依旧配备充电口盖板，预计将继续双涡轮增压S68发动机搭配电机，组成混动系统。 我们从相关渠道获取到了一组新款宝马M5旅行版谍照。 新车将采用部分新时代设计语言，整体更加运动。 据悉，新车将于2027年年中发布。 外观方面，新车目前在瑞典严寒地区进行测试，这款高性能旅行车虽全身覆盖伪装，但仍然可以看出，绝大多数 外观调整似乎仅集中在前脸。 从前保险杠侧面的橙色反光片来看，这台M5旅行版测试车应为美规版本。 其格栅尺寸有所缩小，双肾格栅疑似下调尺寸，为一条横向饰条留出空间。 即便有厚重伪装，仍能明显看出大灯采用了全新造型，不再沿引擎盖 ...

我们欢迎并接受社会各界的批评、建议与监督，但对于误导公众的虚假信息，以及侵犯小米权益的侮 辱、诋毁等，我们将运用法律武器，坚决捍卫合法权益。 2月24日，@小米法务部 发文：近日，就此前起诉自媒体账号"AutoReport汽车产经"侵权一案，我司收 到法院一审判决。法院认定：被告使用前述账号在多个网络平台传播事实核查不足、"张冠李戴"、明显 贬损的内容，侵害小米公司名誉权，损害小米品牌声誉，判令被告删除侵权内容、公开赔礼道歉，并向 小米公司赔偿500万元。 ...

投资咨询业务资格：证监许可【2011】1778 号 期货研究报告 姓名：涂伟华 宝城期货投资咨询部 从业资格证号：F3060359 投资咨询证号：Z0011688 电话：0571-87006873 邮箱：tuweihua@bcqhgs.com 作者声明 本人具有中国期货业协会 授予的期货从业资格证书，期 货投资咨询资格证书，本人承 诺以勤勉的职业态度，独立、 客观地出具本报告。本报告清 晰准确地反映了本人的研究观 点。本人不会因本报告中的具 体推荐意见或观点而直接或间 接接收到任何形式的报酬。 钢材&铁矿石 | 日报 2026 年 2 月 24 日 钢材&铁矿石日报 专业研究·创造价值 产业矛盾累积，钢矿偏弱运行 核心观点 螺纹钢：主力期价震荡走弱，录得 0.88%日跌幅，量仓扩大。现阶段， 供稳需弱局面下假期螺纹钢产业矛盾持续累积，库存大幅增加，钢价继 续承压运行，相对利好的是政策预期与成本支撑，预计走势延续弱势寻 底态势，重点关注累库情况以及节后短流程钢厂复产节奏。 热轧卷板：主力期价偏弱震荡，录得 0.87%日跌幅，量仓扩大。目前来 看，热卷供应压力未退，而需求延续季节性走弱，基本面延续弱势运 行，价格 ...

证 券 研 究 报 告 杠杆资金净流出规模续创25年4月以来新高 ——流动性&交易拥挤度&投资者温度计周报 2026年2月24日 证券分析师：姚佩 执业编号：S0360522120004 邮箱：yaopei@hcyjs.com 联系人：朱冬墨 邮箱：zhudongmo@hcyjs.com 本报告由华创证券有限责任公司编制 卖的出价或询价。本报告所载信息均为个人观点，并不构成对所涉及证券的个人投资建议。 请仔细阅读PPT后部分的分析师声明及免责声明。 @2021 华创 版权所有 核心结论 证 券 研 究 报 告 • 资金流动性： 证监会审核华创证券投资咨询业务资格批文号：证监许可（2009）1210 号 2 证 券 研 究 报 告 资金流动性：1）资金供给端：偏股型公募新发规模重回历史高位、杠杆资金净流出规模续创25年4月以来新高、 股票型ETF净流出规模扩大、回购金额收缩至历史低位；2）资金需求端：股权融资/产业资本净减持规模均小幅 扩张、南向资金净流入收缩至历史中高位。 | 资金供给 | | | | | --- | --- | --- | --- | | 资金供给主体(亿元) | 上 期 | 本 期 | 近 ...

Group 1 - The U.S. government will stop collecting illegal tariffs on imported goods starting February 24, leading to a rise in major stock index futures [1] - Amazon announced a $12 billion investment to build advanced data centers in northwestern Louisiana, expected to create 540 full-time jobs and 1,710 full-time equivalent positions [1] - Tesla's new car registrations in the EU fell by 17% in January, with sales dropping to 8,075 vehicles compared to 9,733 in the same month last year, resulting in a market share decline from 1.0% to 0.8% [1] Group 2 - Anthropic will hold a live event to showcase its AI assistant Claude, targeting corporate executives, amid market anxiety contributing to a significant drop in stock prices [2] - PayPal has attracted interest from potential buyers, with at least one major competitor exploring a full acquisition, while others are focusing on specific assets [2] - The White House is pressuring tech executives to commit to covering the costs of data center operations without passing on expenses to consumers [3] Group 3 - FedEx is suing the U.S. government for a full refund of tariffs it has paid, seeking reimbursement for all IEEPA tariffs [3] - Apple plans to produce some new Mac Mini models in the U.S. later this year, with manufacturing set to begin at a Foxconn facility north of Houston [3] - Uber announced its acquisition of parking app SpotHero to enhance its app's parking reservation capabilities for events and venues [4]

Group 1 - The visit of German Chancellor Olaf Merz to China signifies a pivotal moment for Europe, indicating a potential shift in geopolitical dynamics and economic cooperation [1][3][4] - The recent U.S. Supreme Court ruling against tariffs imposed during the Trump administration provides a legal basis for German companies to recover from significant losses, particularly in the automotive and machinery sectors [3][8] - Germany's strategic focus is shifting towards integrating with the Chinese market while addressing security concerns, reflecting a deeper awareness of geopolitical realities [3][10] Group 2 - The discussions during Merz's visit are expected to cover not only economic and climate issues but also security matters, marking a significant change in Germany's approach to China [4][10] - The emphasis on cooperation with China in advanced technologies, such as those represented by Yushutech, highlights the transition from traditional partnerships to cutting-edge innovation [5][7] - Germany's strategy aims to balance cooperation with China while maintaining military ties with the U.S., showcasing a flexible approach to international relations [10][12] Group 3 - The notion of "strategic autonomy" is emerging as Europe seeks to reduce dependency on a single superpower while diversifying its international partnerships [10][12][14] - The evolving relationship between Europe and China is not merely opportunistic but represents a significant adjustment in multilateral relations, with potential implications for global order [12][14] - The ongoing geopolitical shifts suggest that Europe is exploring new avenues for collaboration that could redefine its role in the international arena [12][14]

Core Viewpoint - Xiaopeng Motors aims to become the first company globally to mass-produce advanced humanoid robots by the end of the year, with a focus on integrating automotive-grade reliability and AI capabilities [1][12][14]. Group 1: Robot Development and Market Position - The new generation of IRON robots will initially be deployed in guiding and shopping scenarios, with an SDK available for global developers [1][12]. - Xiaopeng's IRON robot features a second-generation VLA model and three Turing AI chips, enabling integrated high-level intelligent capabilities such as conversation and walking [2][10]. - The company’s stock performance has shown a significant increase, reaching a market capitalization of HKD 212 billion, driven largely by the anticipated success of the IRON robot [3][5]. Group 2: Competitive Landscape and Challenges - Xiaopeng's approach to robotics emphasizes a combination of automotive-grade standards and integrated intelligence, distinguishing it from competitors like Yushun and Zhiyuan, which focus on different aspects of robotics [2][15]. - The company faces challenges in commercializing its robots, as competitors have already established a presence in the performance and rental markets [6][9]. - The IRON robot's primary applications will be in Xiaopeng's own production and retail environments, which may limit its scalability compared to competitors targeting broader B2B markets [9][10]. Group 3: Strategic Vision and Future Goals - Xiaopeng Motors is transitioning from being an automotive manufacturer to a technology company focused on advanced AI applications, including robots and flying cars [10][12]. - The company aims to leverage its technological advancements to capture significant market opportunities in autonomous driving and AI by 2026 [12][13]. - Xiaopeng's ambition is to redefine mass production standards in the robotics industry, shifting the focus from quantity to quality and reliability [14][15].

Group 1 - The core message of the news is that XPeng Motors is set to launch its next-generation IRON robot by the end of the year, aiming to become the world's first mass-produced advanced humanoid robot [1][2] - XPeng's CEO, He Xiaopeng, emphasizes the integration of automotive-grade reliability standards with AI capabilities, positioning the IRON robot as a unique offering in the market [2][6] - The company's stock performance has shown a significant increase, reaching a market capitalization of HKD 212 billion, driven primarily by the anticipated success of the IRON robot rather than traditional vehicle sales [2][5] Group 2 - The IRON robot is currently in the research phase, with plans for mass production to begin around April next year, following competitors who have already achieved scale [6] - XPeng's IRON robot features advanced technology, including a self-developed Turing AI chip with a computing power of 3000T and a 720° vision system, enabling it to perform complex tasks [7][9] - The commercial application of the IRON robot is focused on enhancing customer experience in XPeng's automotive showrooms, which may limit its scalability compared to competitors targeting broader B2B markets [9]

现代汽车将于本周与韩国产业通商资源部等官方部门签署谅解备忘录，正式落地此项投资。资金自 今年起分批投入，用于建设新业务相关基础设施，全面推进前沿技术布局与产业化落地。 据韩媒《朝鲜日报》2 月 23 日消息，现代汽车集团公布重大投资规划：未来五年将在韩国新万金 地区投入10 万亿韩元（约合481.2 亿元人民币），打造聚焦人工智能、氢能源、机器人三大领域的未来 型产业枢纽。 ...

导读：特斯拉将停止在美国加州市场使用"Autopilot（自动驾驶）"进行传播。 （文 / 观察者网 周盛明 编辑 / 高莘） 据路透社等多家外媒日前报道，特斯拉将停止在美国加州市场使用"Autopilot（自动驾驶）"进行传播。 特斯拉律师强调，马斯克及公司有关车辆可在无人工干预下行驶的说法是面向未来的，并不代表当前技 术水平。 原告方聘请的安全专家——原美国海军战斗机飞行员、乔治梅森大学工程学教授卡明斯（Cummings） 向陪审团表示，这类陈述可能助长驾驶员"懈怠"，并对车辆能力形成错误认知。 她还指出，甚至"Autopilot"这一名称本身也会"在消费者心中造成错觉"。 "这会让人对车辆产生更多不当的信任，因为在航空领域，Autopilot是一项非常优秀的技术。"卡明斯表 示，"但我们却错误地认为这项技术在汽车上也同样有效。" 目前，特斯拉CEO马斯克正将公司的战略重心放在无人驾驶出租车（Robotaxi）以及人形机器人之上。 据悉，特斯拉将在今年开始量产没有方向盘、踏板的Robotaxi车型Cybercab。 本文系观察者网独家稿件，未经授权，不得转载。 此前，加州监管机构指控特斯拉使用Autopi ...