Group 1 - Shanghai has issued a new batch of demonstration operation licenses for intelligent connected vehicles, with SAIC's Zhiji and Youdao receiving licenses, making SAIC the only company with both passenger and commercial vehicle licenses in the industry [1] - The issuance of these licenses is expected to accelerate the large-scale commercialization of L4 autonomous driving technology, marking a significant step for China in the global autonomous driving commercialization race [1] - According to CITIC Securities, the penetration rate of mid-to-high level intelligent driving in China is expected to double by 2025, creating a market increment of 35 billion yuan [1] Group 2 - Open Source Securities predicts that the integrated intelligent connected vehicle industry, focusing on smart vehicles, roadside infrastructure, cloud control platforms, and foundational support, will see significant value increments, with roadside infrastructure expected to generate 22.3 billion yuan by 2025 and 417.4 billion yuan by 2030 [2] - The market for vehicle-road-cloud integration is vast, potentially opening new growth curves for companies in the industry [2] Group 3 - Qianfang Technology is a leading provider of digital solutions in China, focusing on intelligent connected vehicles, smart transportation, and vehicle-road collaboration technologies [3] - Jiadu Technology is a leading provider of artificial intelligence technologies and services in China, specializing in smart rail transit, smart city transportation, and vehicle-road-cloud integration technologies [3]

Key Insights - The report highlights the importance of high-quality urban renewal and the need for a new model of real estate development as emphasized by national leaders [3][4] - It notes a significant increase in broad fiscal spending intensity, with public budget expenditures reaching 28,318 billion yuan in June, reflecting a year-on-year growth of 0.4% [8][10] - The report discusses the ongoing transformation in the banking sector regarding interest rate risks and the expected upward trend in bond market yields due to increased volatility in funding rates [29][51] Macro Economic Analysis - The focus on urban renewal and domestic circulation is expected to enhance economic growth, with policies aimed at boosting consumption and diversifying supply [3][4] - The government is pushing for a balanced housing system through the newly released housing rental regulations [4] - The report indicates that the fiscal revenue growth rate has slowed, with a marginal improvement in tax revenue, while non-tax revenue continues to decline [10][11] Industry Insights - The AI application sector is highlighted as a growth area, with companies like Tuolisi and Songlin Technology positioned to benefit from advancements in AI and robotics [40][41] - The dietary supplement industry is projected to grow significantly, driven by increasing health awareness and an aging population, with global sales expected to reach 223 billion dollars by 2026 [42][43] - The report identifies opportunities in the liquor sector, particularly low-valuation white liquor stocks, as they are seen as defensive assets amid economic uncertainties [45][46] Financial Sector Overview - The report notes a significant increase in trading volume, with daily transactions surpassing 20 trillion yuan, indicating a recovery in market activity [49][50] - The insurance sector is experiencing a reduction in preset interest rates, which is expected to lower liability costs and support the transition of traditional insurance products [51][52] Energy and New Materials - The solid-state battery industry is making progress with breakthroughs in materials and acceleration in pilot production, indicating a positive outlook for the sector [54]

Core Viewpoint - The 2025 World Artificial Intelligence Conference (WAIC) emphasizes the rapid development and integration of AI technologies into various sectors, highlighting the need for global cooperation and governance in AI to ensure its benefits are widely shared and risks are managed effectively [3][4]. Group 1: Conference Overview - The conference opened on July 26, 2025, in Shanghai, themed "Intelligent Era, Shared Future," featuring five main segments: forums, exhibitions, competitions, application experiences, and innovation incubation [1]. - The exhibition area exceeded 70,000 square meters for the first time, attracting over 800 companies and showcasing more than 3,000 cutting-edge exhibits, marking the largest scale in the event's history [1]. Group 2: Government and Policy Insights - Premier Li Qiang highlighted the explosive growth of AI technologies and the importance of policy support and talent cultivation to develop safe and reliable products [3]. - He emphasized the deep integration of AI with the real economy, which is becoming a new engine for economic growth and permeating various aspects of social life [3]. Group 3: Recommendations for AI Development - Li Qiang proposed three key recommendations: 1. Focus on inclusivity and sharing the benefits of AI development with more countries and groups, particularly in the Global South [4]. 2. Emphasize innovation cooperation to achieve more breakthroughs in AI technology through collaborative research and development [4]. 3. Prioritize joint governance to ensure AI ultimately benefits humanity, advocating for a global governance framework and rules [4]. Group 4: AI Innovations and Products - The conference showcased numerous innovative products, including: - Zhiyuan Robotics presented its humanoid robots capable of performing various tasks, demonstrating their full-stack intelligence capabilities [13]. - Alibaba unveiled its self-developed AI glasses, "Quark AI Glasses," integrating various functionalities and expected to launch within the year [14]. - Huawei introduced the Ascend 384 Super Node, which features high bandwidth and low latency for AI model training and inference [15]. - Honor launched the MagicGUI, a self-developed multimodal perception model, achieving industry-leading performance in several tasks [16]. - Huakun Zhenyu released an all-in-one AI solution supporting various open-source models, catering to different budget ranges [17]. - The "Panshi Scientific Foundation Model," developed by the Chinese Academy of Sciences, was introduced to support scientific tasks with advanced capabilities [18]. Group 5: Autonomous Driving Developments - The conference featured a forum on AI-enabled autonomous driving, where the first batch of "intelligent connected vehicle demonstration operation licenses" was issued in Shanghai, marking a new phase in the normalization and scaling of autonomous vehicle operations [9][10]. - The Shanghai government outlined a plan to achieve significant milestones in autonomous driving by 2027, including over 600 million passenger trips and 80,000 TEUs of cargo [10].

《科创板日报》记者获悉，在第八届世界人工智能大会（WAIC）上，上海新一批智能网联汽车示范 运营牌照今日正式发放，小马易行科技（上海）有限公司、百度智行科技（上海）有限公司、赛可 智能科技（上海）有限公司等成为首批获准企业。 其中，小马智行将联合上海锦江集团旗下锦江出租，以浦东金桥和花木核心区域为起点，逐步向公 众开放自动驾驶出行服务。乘客可在相关运营范围内，一键呼叫Robotaxi。 随着浦东新区第三批自动驾驶测试道路的开放，上海市累计开放测试道路里程已突破2700公里，范 围覆盖包括部分内环范围的中心城区。 ...

Group 1 - The 2025 World Artificial Intelligence Conference opened in Shanghai, featuring a forum on AI-enabled innovation in autonomous driving, where new licenses for intelligent connected vehicles were issued [1][2] - The new licenses cover both intelligent taxi and freight operations, with four vehicle models receiving approval [1] - SAIC Group became the only company in the industry to obtain dual licenses for both passenger and commercial vehicles [1][3] Group 2 - SAIC Zhiji Automobile, in collaboration with Xiangdao Mobility and Saike Intelligent, will launch a trial operation of an L4-level Robotaxi service from Shanghai International Tourism Resort to Pudong International Airport, marking a first in the country for high-speed road access to an airport [3] - SAIC Zhiji Robotaxi has accumulated over 300,000 orders and has completed millions of kilometers in autonomous driving [4] - SAIC Youdao Zhitu will pioneer L4-level autonomous driving commercial operations in the domestic freight sector, with over 500,000 standard containers already transported at Yangshan Port [4] Group 3 - Pony.ai has established a commercial network for autonomous driving across four major cities in China, including Beijing, Shanghai, Guangzhou, and Shenzhen [4][5] - WeRide, in partnership with Chery Automobile and Jinjiang Taxi, has received approval for a driverless public road passenger service in Shanghai, expanding its Robotaxi operations to a global tenth city [5] Group 4 - The "Mosu Zhixing" action plan was released during the forum, aiming to establish Shanghai as a global leader in high-level autonomous driving by 2027, with a target of 6 million passenger rides and 800,000 container transports [7] - The plan includes the establishment of a digital twin training ground and the opening of 2,000 square kilometers of operational area, with over 5,000 kilometers of roads [8] - By 2024, Shanghai's automotive industry is projected to reach a production value of 703.5 billion yuan, with 1.645 million new energy vehicles promoted, maintaining its position as a global leader [8]

此外，文远知行携手奇瑞汽车、锦江出租，成功获批在上海市浦东新区开展基于法规的主驾无人公开道路载人自动驾驶出行示范应用服务。 以"智能时代 同球共济"为主题的2025世界人工智能大会7月26日在上海开幕，"模数引领，智行未来"AI赋能自动驾驶创新发展论坛同期举办。论坛举行了新 一批智能网联汽车示范运营牌照发放仪式。此次发放的运营牌照覆盖智能出租与智能货运两大业态，共四款车型。 其中，上汽智己汽车（联合享道出行）和上汽友道智途获颁上海市新一批智能网联汽车示范运营牌照，上汽集团由此成为行业唯一一家获得乘用车和商用车 领域"双牌照"的企业。 小马智行也获得新一批智能网联汽车示范运营牌照。 自动驾驶大消息。 上海发布新一批智能网联汽车示范运营牌照 记者从上汽集团获悉，此次获颁上海市新一批智能网联汽车示范运营牌照的上汽智己汽车，将联合享道出行与赛可智能，启动上海国际旅游度假区至浦东国 际机场的L4级Robotaxi专线试运行，近期将向公众开放——这将是全国首个围绕顶级文旅应用场景、实现高快速路直通机场枢纽的L4级自动驾驶出行服务项 目。 目前上汽智己Robotaxi累计订单超过30余万单、自动驾驶行程高达数百万公里。 上 ...

同期，享道出行联合智己汽车与赛可智能宣布，上海国际旅游度假区至浦东国际机场的L4级Robotaxi专线开 启试运行，近期将向公众开放。这将是全国首个围绕顶级文旅应用场景、实现高快速路直通机场枢纽的L4级 智能网联汽车示范运营牌照发放仪式（受访者供图） 自动驾驶出行服务项目，打造上海"科技+文旅"城市新名片。 随着这条专线的贯通，上海将再次彰显全球自动驾驶创新高地的引领地位，建设全新应用场景下的服务新标 准，为中国智慧出行产业升级提供鲜活范本。 新华财经上海7月26日电（李一帆）7月26日，在世界人工智能大会AI赋能自动驾驶创新发展论坛现场，上海 正式发放了新一批智能网联汽车示范运营牌照，赛可智能、小马易行、百度智行、大众交通等成为首批获准 企业。 其中，上汽集团移动出行战略品牌享道出行联合智己汽车与赛可智能获颁首批示范运营牌照，获准向公众提 供基于法规的主驾无人出行服务。此次智能网联汽车示范运营牌照的发放，也宣告上海智慧交通商业化进入 新阶段。 2018年以来，上海以企业测试应用需求为导向，以区域交通出行特征为依托，分阶段、分批次开放自动驾驶 测试道路，打造了嘉定、临港、奉贤、金桥等四个各具特色的示范区。但这 ...

Core Viewpoint - The article highlights significant advancements in the technology sector, particularly in artificial intelligence and autonomous driving, showcased at the 8th World Artificial Intelligence Conference (WAIC) in Shanghai, indicating a potential market rally for tech stocks. Group 1: AI Developments - Shanghai has issued new operational licenses for intelligent connected vehicles, with companies like Pony.ai and Baidu among the first to receive approval [2][5][7] - Alibaba has completed the development of its AI glasses, Quark AI, which integrates various functionalities and is expected to be released within the year [5][6] - Honor has launched its self-developed multi-modal perception model, MagicGUI, with 7 billion parameters, achieving a 91.5% accuracy rate in common operational scenarios, surpassing industry standards by 16.4% [6][11] Group 2: Autonomous Driving Initiatives - The "Mosu Zhixing" action plan aims to establish a leading high-level autonomous driving zone in Shanghai by 2027, fostering a competitive smart connected vehicle industry [3][11] - Pony.ai and other companies are set to provide autonomous driving services in key areas of Shanghai, indicating a push towards commercializing autonomous vehicle technology [7][11] Group 3: Market Trends and Projections - The global AI market is experiencing explosive growth, with a projected market size of $185 billion in 2023, expected to exceed $780 billion by 2027, driven by advancements in AI applications [12] - The WAIC attracted over 800 companies and showcased more than 3,000 AI-related products, indicating strong interest and investment in the AI sector [11][12]

Core Insights - The "Shanghai High-Level Autonomous Driving Leading Area 'Mosu Zhixing' Action Plan" aims to establish a globally leading high-level autonomous driving area by 2027, creating a competitive smart connected vehicle industry cluster [1] Group 1: Application Scenarios - The plan focuses on scaling L4 autonomous driving applications in various scenarios, targeting 6 million passenger rides and 800,000 container transport trips [1] - It emphasizes the development of diverse application scenarios, including L3 intelligent taxi trials and autonomous shuttle services in areas like airports and scenic spots [2] Group 2: Innovation and Infrastructure - The initiative includes building digital twin training grounds and public service platforms, with an open area of 2,000 square kilometers and over 5,000 kilometers of roads [1] - A comprehensive data monitoring platform will be established to manage and monitor vehicle operation data in real-time, ensuring safety and diverse application needs [2] Group 3: Industry Development - The plan aims to cultivate a high-end industry capability, with over 90% of vehicle production being L2 and L3 models, and L4 models achieving mass production [1] - It encourages collaboration among key regions to create a world-class automotive industry cluster and strengthen testing and validation capabilities [3]

独家|上海新一批智能网联汽车示范运营牌照今日发放 《科创板日报》26日讯，《科创板日报》记者独家获悉，在第八届世界人工智能大会（WAIC）上，上 海新一批智能网联汽车示范运营牌照今日正式发放，小马易行科技（上海）有限公司、百度智行科技 （上海）有限公司、赛可智能科技（上海）有限公司等成为首批获准企业。其中，小马智行将联合上海 锦江集团旗下锦江出租，以浦东金桥和花木核心区域为起点，逐步向公众开放自动驾驶出行服务。乘客 可在相关运营范围内，一键呼叫Robotaxi。随着浦东新区第三批自动驾驶测试道路的开放，上海市累计 开放测试道路里程已突破2700公里，范围覆盖包括部分内环范围的中心城区。（记者 曾乐） ...