如果这个逻辑成立，那么L4级Robotaxi企业的壁垒将会一夜崩塌。 一直以来，L4级Robotaxi公司一直引以为傲的护城河是，通过限定ODD区域，以及重传感器带来的安全 冗余。包括硬件带来的兜底冗余，以及软件带来的架构冗余。 矛盾的核心点在于，辅助驾驶和Robotaxi可以使用同一套架构吗？ 在全球市场，这一矛盾更知名的对位方是特斯拉和Waymo。 Waymo的核心逻辑是通过"高精地图+重传感器+重规则+ODD"的方式构筑更加安全，可控的强运营模 式，但也带来成本高，难复制，难扩张的问题。 特斯拉则通过统一辅助驾驶和Robotaxi的底层技术范式和传感器形成更加灵活且低成本的部署，但短期 内安全性远不如Waymo。 最近在地平线生态大会上，地平线智驾一号位苏菁提到了一个观点： "通过统一的开发范式、统一的传感器配置、统一的 ODD 区域去打通 L2 到 L4，最终通过海量的数据 积累让L2和L4的系统实现一样的安全、高效、丝滑的体验。" 用时下流行的话说就是，用L2的架构和传感器去实现L4。按照苏菁的逻辑，这种逻辑下没有L2和L4的 概念，只是同一架构下的两种商业形态。 Waymo为了拿到很好的 MPI， ...

Group 1 - The Ministry of Commerce of China strongly opposes the U.S. decision to include all foreign-produced drone systems and key components in the "untrusted supplier list," citing market distortion and unilateral bullying practices [1] - The sixth batch of national high-value medical consumables procurement has been officially launched, introducing new mechanisms such as anchor pricing and multiple reactivation mechanisms to prevent malicious low pricing [2] - Shanghai Gold Exchange has issued a notice to strengthen market risk control due to recent volatility in precious metal prices, urging members to enhance risk awareness and maintain market stability [3] Group 2 - Beijing has issued the first batch of L3-level highway autonomous vehicle special license plates, marking a significant milestone in the production of autonomous vehicles in China [4] - LME copper prices have reached a historical high of $12,001.99 per ton, indicating a strong upward trend in upstream resources, including gold and silver [5] - Semiconductor company SMIC has implemented a price increase of approximately 10% on certain production capacities, driven by rising demand from mobile applications and AI [6] Group 3 - U.S. third-quarter GDP growth exceeded expectations, leading to a collective rise in major U.S. stock indices, with the Dow Jones up 79.73 points and the Nasdaq up 133.02 points [7] - The U.S. dollar index fell by 0.34%, while gold and silver prices saw significant increases, with silver reaching a historical high of $71.5784 [9] - Despite the overall rise in indices, approximately 3,600 individual stocks declined, indicating a lack of coordination among stocks [10] Group 4 - A radioactive water leak incident occurred at a nuclear reactor in Japan, with approximately 20 milliliters of water leaking, but no significant radiation exposure to workers has been reported [11] - New regulations will be implemented in China starting January 1, 2026, prohibiting kindergartens from charging fees beyond tuition and care fees under various names [12] - Companies such as Guolian Aquatic Products and Dahu Co. are highlighted as potential investment targets in light of upcoming regulatory changes [12]

华见早安之声 市场概述 请各位听众升级为见闻最新版APP，以便成功收听以下音频。 科技股力挺三大美股指低开高走、四连阳，标普收创最高纪录；芯片关税消息后，英伟达大涨3%；特斯拉回落超0.6%，科技七巨头中独跌；矿业股Freeport McMoRan涨2.5%；"口服版减肥神药"在美率先获批后，诺和诺德欧股涨超9%，带动泛欧股指四日内三度收创历史新高。 法国通过短期预算案，十年期法债领涨同期欧债。 美GDP强劲打击降息预期，GDP后，美债价格止涨回跌、收益率抹平降幅、一度刷新近两周高位；美元指数收窄跌幅、靠近日高。日本高官暗示准备干预 后，日元两日反弹；离岸人民币连创14个月新高、一年多来首次盘中涨破7.02；比特币盘中较日高跌超2%、跌破8.7万美元。 金银铜继续创历史新高，现货金银盘中分别涨超1%和近4%，但在美GDP后曾"闪跌"；伦铜史上首次涨破1.2万美元；美国继续发力切断委内瑞拉石油贸 易，原油五连阳、收创至少近两周新高，五日涨近6%。 亚洲时段，A股三大指数冲高回落、小幅收涨，海南板块延续强势，商业航天概念下挫。 要闻 中共中央总书记对央企工作作出重要指示强调，充分认识职责使命，更好服务党和国家工作 ...

Group 1: Tesla and Autonomous Driving - Tesla's CEO Elon Musk confirmed the company has begun testing autonomous taxis without safety drivers, indicating a breakthrough in embodied intelligence technology [1][2] - The investment landscape in the embodied intelligence sector is shifting towards leading companies and addressing supply chain gaps, with 35 financing deals reported in November 2025 [2] Group 2: Space Policy and Commercial Launches - On December 18, former President Trump signed an executive order outlining a vision for a "America First" space policy, aiming for a return to the Moon by 2028 and establishing initial facilities for a permanent lunar outpost by 2030 [3] - The Long March 12 rocket successfully launched from Hainan on December 12, delivering 16 low-orbit satellite internet satellites, marking a significant advancement in China's commercial space efforts [3] Group 3: Engineering Machinery Exports - In October 2025, China's engineering machinery trade reached $4.844 billion, with exports totaling $4.668 billion, reflecting a year-on-year increase of 1.29% [4] - November saw strong sales in key engineering machinery products, with excavator sales at 20,027 units (up 13.9% year-on-year) and loader sales at 11,419 units (up 32.1% year-on-year), indicating robust growth in overseas expansion for domestic companies [4]

Core Viewpoint - The collaboration between Lumo, Mercedes-Benz, and Momenta aims to launch a high-end autonomous taxi fleet in Abu Dhabi, utilizing Level 4 autonomous driving technology on a mass-produced luxury platform [1] Group 1: Company Collaboration - Lumo, a national taxi company in the UAE, partners with Mercedes-Benz and Momenta to introduce an autonomous taxi fleet [1] - The fleet will be based on the new Mercedes S-Class and will incorporate Momenta's Level 4 autonomous driving system [1] - This initiative marks the first scalable autonomous taxi model based on a mass-produced luxury platform in the industry [1] Group 2: Market Expansion - The autonomous taxi fleet is expected to commence commercial operations in Abu Dhabi next year [1] - There are plans to expand the service to additional international markets following the initial launch [1] Group 3: Industry Impact - The collaboration is positioned to advance the development of smart transportation solutions [1]

谷歌（股票代码：GOOG、GOOGL）在 2025 年初的处境步履维艰。尽管公司股价在 2024 年上涨 36%，但在华尔街眼中，谷歌在人工智能赛道的竞争中，依旧长期屈居开放人工智能（OpenAI）之 后，位列第二甚至第三名。 转眼至年末，局势彻底反转：谷歌已然一枝独秀、大放异彩；而开放人工智能的首席执行官山姆・奥特 曼却已宣布启动'红色警报'紧急预案，全力研发产品以对标谷歌最新发布的双子座 3 代（Gemini 3）人 工智能模型。颇具戏剧性的是，2022 年聊天生成预训练转换器（ChatGPT）面市时，彼时陷入被动的 谷歌也曾为自己拉响过红色警报。 谷歌在核心指标月活跃用户量上，也正不断缩小与开放人工智能的差距。 芯片业务方面，谷歌同样捷报频传。今年 10 月，克劳德（Claude）人工智能的研发商安索普人工智能 （Anthropic）宣布，将扩大谷歌人工智能芯片的使用规模，计划部署多达 100 万个谷歌人工智能处理 器，为其自研的人工智能软件提供算力支撑。 另有行业媒体《信息》报道，谷歌正洽谈向脸书、照片墙的母公司元宇宙（Meta）供应自研芯片，助 力其运行各类人工智能产品。 这一系列利好加持之下，这家 ...

Group 1: Copper Market - Copper prices have reached a historic high, breaking the $12,000 per ton mark, driven by significant mine shutdowns and trade disruptions related to U.S. tariffs [1] - Citigroup warns that in a bullish scenario, copper prices could potentially reach $15,000, attracting more aggressive investments [1] Group 2: Autonomous Driving - China has officially entered the mass production phase of autonomous driving, with Beijing issuing the first L3-level vehicle special license plates [2] - The commercialization of intelligent driving technology is expected to accelerate by 2026, laying the groundwork for future advancements [2] Group 3: A-Share Market - A-shares have recorded a historic annual trading volume exceeding 400 trillion yuan, with an average turnover rate of approximately 1.74% [3] - Nineteen stocks have surpassed a trading volume of 1 trillion yuan, with notable performances from companies in the technology and communication sectors [3] Group 4: Investment Funds - Three major sub-funds of the National Venture Capital Guidance Fund have been established, with total contributions exceeding 120 billion yuan [4] - These funds aim to attract significant local and social capital, focusing on long-term investments in hard technology [4] Group 5: Banking Sector - In Shenzhen, the minimum interest rate for mortgage-backed business loans has risen to 2.35% annually, up from a previous low of 2.2% [5] Group 6: Drone Industry - The U.S. has placed DJI drones on a "regulated list," prompting strong opposition from Chinese officials who argue against discriminatory practices [6][7] Group 7: Food Safety Regulations - New regulations for food live-streaming sales are set to be announced, aiming to enhance food safety responsibilities among various stakeholders in the live-streaming e-commerce sector [8] Group 8: Automotive Market - Tesla's sales in Europe have declined by nearly 12%, while BYD has seen a significant increase in market share, with sales up 221.8% [9] Group 9: Medical Devices - A new round of centralized procurement for high-value medical consumables is set to begin, with expectations of improved performance for related stocks in the medical device sector [10] - Notable stocks in this sector include Zhendemedical and Nanwei Medical, which have seen significant net purchases from leveraged funds [10][11] Group 10: Positive and Negative Announcements - China Power Construction has secured a project contract worth approximately 6.626 billion yuan [15] - Negative announcements include penalties for shareholders of Haohai Biological Technology totaling over 14.62 million yuan [15]

12月23日，美股三大指数基本平开， 道指微跌，标普500指数、纳指微涨。 诺和诺德涨超9%，美国FDA批准了诺和诺德的首款口服GLP-1减肥药。 编辑丨瑜见 | 名称 | 现价 | 涨跌 | 涨跌幅 | | --- | --- | --- | --- | | 道琼斯工业平均 | 48320.30 | -42.38 | -0.09% | | 纳斯达克指数 | 23444.34c | 15.51 | 0.07% | | 标普500 | 6880.88 | 2.39 | 0.03% | 中概股多数下跌，纳斯达克中国金龙指数跌0.4%，名创优品、小鹏汽车、小马智行跌超2%。 ...

据上市公司公告、互动平台及券商研报表示， 北汽蓝谷：公司的极狐纯电动轿车获得工信部L3级有条件自动驾驶车型产品准入许可。 12月23日，北京市首批L3级高速公路自动驾驶车辆专用号牌由北京市公安局交通管理局正式发放给三 辆智能网联汽车，这也是国内首批发放的L3级高速公路自动驾驶车辆专用号牌。这标志着我国自动驾 驶车辆已由测试示范进展到正式量产，率先开启L3级自动驾驶时代，成为汽车智能化进程中的里程碑 事件。 四维图新：公司中标北京市高级别自动驾驶示范区3.0范围高精度地图服务能力研发项目一期。 上证报援引研究机构观点称，随着特斯拉Robotaxi的持续放量验证，以及中国L3车型的制度化落地，高 阶自动驾驶的产业拐点正在加速到来，并将深刻影响整车估值体系与竞争格局。随着试点经验积累和法 规逐步完善，L3功能有望从局部示范走向更广泛放开，2026年或成为中国L3级智驾量产落地的关键节 点。 *免责声明：文章内容仅供参考，不构成投资建议 *风险提示：股市有风险，入市需谨慎 ...

Core Viewpoint - The article discusses the evolution and challenges faced by Alibaba's autonomous vehicle initiatives, particularly focusing on the logistics sector, highlighting missed opportunities and internal conflicts that led to the decline of its autonomous vehicle projects [3][4][5]. Group 1: Industry Developments - The autonomous logistics vehicle sector has seen significant capital influx and operational advancements in 2023, with companies like New Stone Technology and NineSight completing substantial funding rounds, indicating a rebound after years of stagnation [3]. - NineSight is reportedly in talks to acquire Alibaba's logistics vehicle division, which could enhance its competitive position in the logistics market [3][4]. - The article notes that the autonomous vehicle sector in China is approaching a pivotal moment with several companies preparing for IPOs, marking a transition from a nascent stage to a more mature market [3]. Group 2: Alibaba's Internal Dynamics - Alibaba's autonomous vehicle efforts began with the establishment of the Cainiao ET Logistics Laboratory, which aimed to develop autonomous logistics vehicles but faced strategic misalignments and leadership changes that hindered progress [7][9]. - The dual approach within Alibaba, with the Cainiao ET Laboratory focusing on logistics and the Damo Academy's autonomous driving lab targeting passenger vehicles, led to resource duplication and inefficiencies [15][29]. - The merger of the Cainiao ET Laboratory into the Damo Academy's autonomous driving lab in 2020 was a significant turning point, consolidating efforts but also leading to internal conflicts and a loss of focus on logistics applications [30][36]. Group 3: Key Personnel and Leadership Changes - Key figures such as Zhang Chunhui and Chen Junbo played pivotal roles in the development of Alibaba's autonomous vehicle projects, with their departures marking critical moments in the decline of these initiatives [12][50]. - The leadership transition within the Damo Academy, particularly the appointment of Wang Gang and subsequent changes in strategic direction, contributed to the fragmentation of the autonomous vehicle team [25][41]. - The article highlights the contrasting management styles of Chen Junbo and Guo Zhenyu, which created friction within the team and ultimately affected project outcomes [47][49]. Group 4: Project Outcomes and Future Directions - The autonomous logistics vehicle "Xiaomanlv" achieved significant operational milestones, including reaching 1 million delivery orders, but faced challenges in scaling due to budget constraints and strategic misalignment [36][52]. - The ambitious plans for the "Dabanlv" project, aimed at developing autonomous heavy-duty trucks, were ultimately abandoned following key personnel exits, signaling a broader decline in Alibaba's autonomous vehicle ambitions [50][54]. - The article concludes with the integration of the Xiaomanlv project back into Cainiao, indicating a shift in focus towards logistics and a potential re-evaluation of Alibaba's strategy in the autonomous vehicle space [53][54].