9 月 5 日，全新问界 M7 正式开启小订，预售价 28.8 万元起， 10 分钟小订两万台， 1 小时突破 了十万台。当这个劲爆成绩轰动全网时，余承东却亲自在朋友圈下场辟谣：准确点，（是） 43 分钟 突破十万台！ 据悉，此番远超预期的重要原因，是全新问界 M7 的"大爆改"。颠覆行业过往对改款产品"小修小 改"的认知，全新问界 M7 可谓 "从里到外""脱胎换骨"。 2025 年，国内 SUV 市场进入存量优化的新阶段，智能化已成为 SUV 产品差异化竞争的核心赛 场。随着竞争加剧，智能化上的竞争逐渐从"功能堆砌"升级至"体验重构"，过去那种"挤牙膏式"的 汽车换代升级早已跟不上这个时代的需求；同时，新能源 SUV 市场急需一款高价值优体验的产品摆 脱低质价格竞争的泥潭。 全新问界 M7 顺势而生，以自我突破式的核心技术创新与体验升级，以"高销量、高价值感"重构了 豪华汽车的盈利逻辑。这不仅是对自己的一次教科书式的价值迭代，更是对所有"自废武功活下 来""大降价换市场"等行业行为的一次教科书式的路线纠正。 从这个意义上，这个行业似乎应该对鸿蒙智行说一声"谢谢"。 枪口抬高一寸，这很鸿蒙智行 "如果全新问 ...

一、前言：港股的寒冬与转机 过去几年，港股市场长期低迷，恒生指数一度跌破万八点关口，创下近十年的新低。高利率环境、全球资金流出、地缘政治紧 张、中概股估值承压等多重因素，使得港股被贴上了"价值陷阱"的标签。 2025港股还能上涨吗？中概股回归与投资机会 但进入 2025 年，随着美联储货币政策转向宽松、中国经济逐渐企稳、中概股加速回归，市场开始重新思考一个问题：港股是否 迎来新的上涨周期？中概股的回归是否会带来投资机会？ 二、港股市场现状与核心矛盾 1. 估值洼地特征明显 港股的整体市盈率长期处于 8~10 倍，部分蓝筹甚至不足 6 倍。与美股、A 股相比，港股已经具备"全球最低估值市场"的特征。 2. 流动性不足仍是痛点 过去几年，南下资金成为港股最主要的增量资金。但由于市场信心不足，成交量常年低迷，导致股价缺乏持续上涨动力。 3. 高股息率是支撑点 越来越多中概股企业选择在香港二次上市，甚至从美股回流。港股作为"中概股集散地"的定位进一步强化。 三、驱动2025年港股走势的关键因素 1. 美联储货币政策转向 2025 年美联储进入降息周期，全球流动性有望改善，资金可能回流新兴市场，包括港股。 2. 中国经 ...

Group 1 - Leap Motor announced the completion of a domestic stock issuance, raising a total of 2.6 billion yuan, with funds aimed at supporting core technology R&D and enhancing vehicle performance and smart features [2] - Xizhi Technology completed a C-round financing exceeding 1.5 billion yuan, with participation from notable investors, aiming to accelerate the commercialization of photonic chips in computing centers [3] - Jinbei Automotive plans to invest 240 million yuan as a limited partner in the Shenyang Automotive Industry Investment Fund, which has a total subscription amount of 800 million yuan [4] Group 2 - Anthropic raised 13 billion USD in its F-round financing, achieving a post-money valuation of 183 billion USD, with plans to expand enterprise customer adoption and enhance safety research [5] - Figure Technologies plans to raise up to 526.32 million USD through an IPO, with a proposed share price range of 18 to 20 USD [6] - Black Rock Coffee Bar aims for an IPO seeking a valuation of up to 860.7 million USD, marking a rare consumer sector IPO amid a tech-driven market recovery [8] Group 3 - The Jinan Zhongying Industrial Development Semiconductor AI Equity Investment Partnership was established with a capital contribution of 1 billion yuan, focusing on private equity investments [9] - The Honghui Yuyin Fund, a smart medical equipment fund, was launched in Banan District with a scale of 500 million yuan, targeting investments in the healthcare sector [10] - Caitong Capital's Caitong Qihang Fund completed an exclusive investment in Wase Technology, focusing on global demand for audio-visual technology solutions [11] Group 4 - The Beijing Agricultural Industry Investment Fund was officially launched with a total scale of 500 million yuan, expected to generate 600 million yuan in new output and create 1.5 billion yuan in tax revenue [12]

Market Overview - The A-share market experienced a general pullback last week, with major indices declining. The Shanghai Composite Index fell by 1.2%, while the Shenzhen Component Index decreased by 0.8% [1] - The ChiNext 50 Index rose by 3.4%, contrasting with a 5.4% drop in the Sci-Tech 50 Index. Daily trading volume averaged approximately 2.6 trillion yuan, showing a slight decrease from the previous week [1] - Market hotspots displayed a clear rotation pattern, with gold and CPO remaining active, although the latter experienced significant volatility. Industries such as robotics, solid-state batteries, and photovoltaic energy storage benefited, while innovative drugs and storage chips showed only localized strength early in the week [1] Industry Insights - The consumer sector has been active across various sub-sectors, including food and beverage, liquor, hotel and catering, and retail, supported by both policy and market demand. For instance, a subsidy policy in Shaoxing, Zhejiang, provided tiered support for hotel banquets [2] - Over 1 billion yuan has been allocated for consumption vouchers in the automotive, supermarket, and catering sectors, alongside encouragement for nighttime economy operations to unleash consumption potential [2] - The liquor industry has benefited from demand recovery, with inventory levels returning to reasonable standards, and the wholesale price of Moutai continuing to rise [2] - In the agriculture, forestry, animal husbandry, and fishery sectors, significant growth was noted in the first half of the year, with overseas sales of feed showing marked improvement and fresh milk production increasing month-on-month [2] - The retail sector has become more active due to e-commerce platforms increasing discounts for offline supermarkets and the issuance of local consumption vouchers. The home appliance industry also saw revenue and profit growth due to smart upgrades and global expansion [2] - The "Action Plan for Stabilizing Growth in the Electronic Information Manufacturing Industry" emphasizes support for the consumer electronics sector, promoting intelligent and brand development [2] Financial and Real Estate Sector - The financial and real estate sectors have shown multiple hotspots recently, with public funds significantly increasing their holdings in financial stocks. Bank stocks have been favored due to their stable operations and good asset quality, leading to a gradual recovery in profitability [3] - Insurance funds continue to adopt long-term investment strategies, favoring leading companies in energy and infrastructure, with the scale of private equity from insurance funds expanding to 222 billion yuan [3] - The securities industry's brokerage business revenue increased by over 43% year-on-year, directly financing the real economy with 3.58 trillion yuan [3] Overseas Market Dynamics - The overseas equity markets generally showed a downward trend last week, with mixed performances in Hong Kong and European stocks. Alibaba's stock price surged due to strong AI-related revenue growth and a three-year high in cloud business growth, positively impacting the Hong Kong tech sector [4] - In the U.S. market, a court ruling deemed Trump's tariff policy illegal, potentially increasing policy uncertainty, while changes in the Federal Reserve's personnel and rising expectations for interest rate cuts have added to market volatility [4] - In Europe, the expansion of the Eurozone manufacturing sector and easing geopolitical tensions have driven stock market gains, with the Eurozone's August manufacturing PMI reaching 50.7, a 38-month high, indicating a recovery in manufacturing activity [4] Commodity Market - Last week, gold prices continued to rise, with London spot gold closing at $3,548 per ounce, a 3.0% increase week-on-week, while domestic AU9999 gold closed at 811.5 yuan per gram, up 3.8% [5] - Gold prices remain high due to factors such as expectations of interest rate cuts by the Federal Reserve, a weakening dollar, and geopolitical risks supporting supply. Additionally, ongoing purchases of gold by global central banks have contributed to price increases [5] - Key factors influencing gold prices include the Federal Reserve's policy direction, changes in dollar credibility, and developments in geopolitical situations, which are expected to continue attracting attention in the future [6]

新华社记者马姝瑞、吴慧珺 从传统农业大省、能源原材料基地跃升为新兴工业大省、先进制造业基地，安徽一方面推动项目建设、扩大有效投资，另一方面持续优化投 资结构、培育发展先进制造业，为全省经济稳增长、促转型提供坚实支撑。 新华社合肥9月6日电 题：扩投资优结构——安徽奋力稳增长促转型 9月伊始，作为全省第三批重大项目之一，位于安徽省芜湖市的埃夫特机器人超级工厂暨全球总部项目（一期）正式开工建设，一座"机器人 造机器人"的智能化工厂将在这里拔地而起。 "一期项目建成达产后，预计将实现年产5万台高性能工业机器人的目标。"埃夫特智能机器人股份有限公司董事长兼总经理游玮说。 9月1日，埃夫特机器人超级工厂暨全球总部项目（一期）正式开工建设。（受访单位供图） 合肥国轩年产20万吨正极材料项目、宁国中翰新能源汽车零部件制造项目、淮南云聚绿色食品产业基地项目……"十四五"收官之年，一系列 重大项目正在江淮大地争分夺秒往前赶。 推动产业结构向新，需要从"链"上系统发力。以新能源汽车产业为例，如今，安徽已集聚7家整车企业，推进整车、零部件、后市场一体化布 局，地区间分工协作、错位发展，覆盖整车制造、"三电""三智"、销售维保、回收 ...

制造业作为我国经济的支柱性产业，也是重要的国际贸易领域。肖寒介绍，"十四五"期间，我国在高端 装备、智能制造等重点领域新承担国际标准组织技术机构秘书处26个，中国专家新担任技术机构主席30 个，新担任国际标准制修订工作组召集人486个，在新能源汽车、新型电力系统、航空航天等领域新提 出国际标准提案880项，牵头制定国际标准532项。同时，积极推进国内国际标准体系兼容，4210项先进 适用国际标准转化为我国标准，重点领域国际标准转化率超过90%。 "我国牵头研制的智能制造、纳米制造、智能电网、新型储能系统等一系列先进制造领域国际标准，为 我国高端装备、关键零部件和大型成套设备进入国际市场提供了可靠的合规路径和质量背书，增强了中 国产品在国际市场中的可比性与竞争力。"肖寒说，譬如在脑机接口领域，我国专家正在牵头制定有关 术语、数据格式等系列国际标准，将有力促进脑机接口技术的创新应用和产业规模化发展；我国牵头制 定的全球首个养老机器人国际标准，为养老机器人的设计、制造、测试和认证提供基准参考，造福全球 银发群体。 国家市场监督管理总局数据显示，"十四五"以来，我国围绕集成电路、新材料、新能源汽车、机器人、 航空航天 ...

2025年新能源汽车下乡活动开展数月，老乡最关心哪些问题？ 自2020年第一次新能源汽车下乡活动开展以来，入选车型不断丰富、覆盖范围有序拓展、支持力度持续 加大。好政策助力，更多优质新能源汽车驰骋广袤乡村。 如今，除了车辆口碑、质量等因素，售后服务方不方便、优惠补贴能否享受、充电设施是否健全等，愈 发成为老乡买车换车时考虑的重要因素。本报记者在江苏、湖南、广西采访，看助力新能源汽车下乡， 各地有何好经验。 ——编 者 哪些车型受到关注？江苏无锡—— "适合农村的新能源车型真不少" 本报记者 白光迪 江苏无锡惠山区阳山镇，无锡桃冠苑水蜜桃专业合作社内，分拣、套袋、包装，一派忙碌。 "把这一阵忙完，就轻松一些了。"桃农陈月浩说，除了走快递渠道的订单，这几年合作社与酒店合作， 客人入住时可品尝、订购桃子，他每天要将一些订单配送至无锡市区的酒店。 "这40箱桃子，要送去3个酒店，来回60公里。"说着，陈月浩将桃子整齐码进一辆崭新的新能源小型汽 车车厢。 据了解，江苏在积极落实国家"两新"政策的同时，还在今年初明确补贴资金向新能源车倾斜。"从汽车 以旧换新申请量看，今年截至6月30日，消费者购买新能源汽车超27万辆，涉 ...

完整早报音频，请点击标题下方小耳机收听 【字节实习生一天领 13 份餐被通报，连续多日清空茶水间零食】 据报道， 9 月 4 日下午，字节跳动企业纪律与职业道德委员会发布通报，披露二季度员 工违规处理情况。这次通报的 100 名员工因触犯公司红线被辞退，其中最典型的是：受贿、前员工离职后"造黄谣"攻击前同事、外包带大量外来人员吃食 堂、实习生清空零食柜等。 通报显示， 2025 年 1 月至 3 月，某前实习生多次大量重复领取餐食，单日最高领取 13 份，总计重复领取餐食 154 份。 2025 年 2 月至 3 月，该前 实习生连续多日清空茶水间零食柜的零食，多次整盒拿取储物柜内行政团队的物资，并带离工区占为己有。 通报还称，员工李某在离职后通过社交媒体平台，以冒用其他员工身份或匿名的方式，多次恶意攻击侮辱公司和前同事，包括 "捏造在职员工存在不正当男 女关系，发表对公司员工的侮辱性言论，虚构事实攻击公司招聘用人标准，捏造公司及员工侵犯其个人隐私等"。通报称，尽管事发时李某已离职，但为了 保护公司和员工声誉，仍将被追究法律责任。（ IT 之家） 【威马汽车公布 5 年发展规划：拟推出 10 款以上新产品，初 ...

Group 1: Company Performance and Achievements - Zhongke Xinsong has deployed up to 40 collaborative robots at the FAW-Volkswagen engine factory, reflecting customer recognition and increasing orders [1] - The company experienced a twofold increase in output last year and has already matched last year's total output in just the first half of this year [1] - The first seven months of this year saw Shanghai's robot manufacturing maintain double-digit growth for six consecutive months, aligning with Zhongke Xinsong's high-quality development trajectory [1] Group 2: Innovation and Product Development - Zhongke Xinsong's Doco brand developed China's first seven-axis collaborative robot in 2015, marking its entry into international competition [2] - The company launched China's first 25-kilogram high-load collaborative robot in 2022, showcasing its commitment to innovation [2] - The first Doco robot was installed at the FAW-Volkswagen engine factory in 2020 and has operated without any faults since then [2] Group 3: Industry Trends and Market Position - Shanghai's manufacturing sector is focusing on high-quality development, with industrial added value growing by 5.2% year-on-year in the first seven months of this year, surpassing GDP growth for the first time in years [1] - The electronic industry in Shanghai saw a 17.8% increase in output value in the first seven months, with companies like Huaqin Technology and Quectel Communications performing exceptionally well [3] - The promotion of new energy vehicles in Shanghai exceeded 160,000 units in the first seven months, representing a year-on-year growth of 19.9% [4] Group 4: Upcoming Events and Industry Showcase - The 25th China International Industry Fair, set to begin on September 23, will showcase Shanghai's new industrialization paradigm focused on high-end, intelligent, and green development [4] - The fair will feature international exhibitors, with over 30% of participants being from abroad, highlighting the global interest in China's industrial innovations [4]

（原标题：知名车企官宣：9月复工复产 两年后筹备IPO！新股东背后现"宝能系"身影！） 接盘的"白衣骑士"何许人也？ 翔飞这位威马汽车背后的"白衣骑士"何许人也？天眼查显示，翔飞成立于2023年9月，注册资本1亿元， 法定代表人与实控人是黄晶。值得注意的是，黄晶同时也是昆山宝能汽车有限公司的实控人。此外，翔 飞持有深圳市悠宝佳汽车销售有限公司99%的股权，后者法定代表人张晓，是宝能新能源汽车集团有限 公司董事，同时还在宝能汽车销售有限公司、昆山宝能汽车销售有限公司等多个公司任职。 复工复产的背后，新威马汽车获得了来自政府层面的大力支持。政策方面，温州市政府及温州海洋经济 发展示范区已成立专项工作组，协助重整后的复工复产工作，包括协调浙江及温州本地供应商，促进合 作并解决历史问题；资金方面，在温州市政府的支持指导下，新股东翔飞正与当地金融机构积极开展对 接沟通，以股东的优质资产等作为增信开展融资，为新威马汽车复工复产所需的设备升级、供应链恢复 和运营扩展资金提供保障。此外，多方还正在努力恢复了新威马汽车的信用评级及银行信用评级，以增 强金融机构和供应商的合作信心。 值得注意的是，《白皮书》透露了新威马汽车复产及 ...