Core Viewpoint - The article discusses the evolving landscape of intelligent driving technology, highlighting its significance and potential impact on transportation and daily life, particularly with the upcoming advancements expected by 2025 [1][6]. Summary by Sections Intelligent Driving Overview - Intelligent driving is defined as a technology that enables vehicles to operate autonomously and make intelligent decisions using advanced sensors, communication technologies, and computer systems [1]. - The international classification of intelligent driving ranges from L0 to L5, with L3 being a critical threshold for automation [1]. Current Developments - The Navigate on Autopilot (NOA) feature, representing L2+ level assistance, is rapidly advancing and can perform complex driving maneuvers in specific scenarios [1][2]. - By the end of 2024, major automotive companies are expected to implement nationwide urban NOA, establishing "car-to-car" as the new standard for intelligent driving experiences [4]. Technical Frameworks - Intelligent driving can be categorized into two design philosophies: modular synthesis and end-to-end systems. The modular approach divides the system into perception, planning, and execution modules, while the end-to-end method uses deep neural networks to directly map sensory input to driving actions [3]. - The end-to-end architecture is gaining traction due to its ability to handle complex driving scenarios with greater generalization capabilities, although it requires substantial data and computational power [3]. Future Projections - The "2024 Intelligent Driving Annual Report" indicates significant progress in intelligent driving technology, moving away from reliance on high-precision maps to a more autonomous decision-making process [4][5]. - The report emphasizes that the first principles of AI—algorithm, computing power, and data—are crucial for the advancement of intelligent driving, with a shift towards end-to-end systems being a new paradigm [5]. Industry Trends - 2025 is anticipated to be a pivotal year for intelligent driving, with expectations for the transition from "usable" to "user-friendly" systems, particularly in urban NOA applications [7]. - Companies are actively preparing for the commercialization of L3 autonomous driving, with many expressing intentions to launch L3 capabilities by 2025 [7][8]. Commercialization Efforts - Recent initiatives, such as the launch of autonomous driving services by companies like Pony.ai in Guangzhou, demonstrate the industry's commitment to advancing and commercializing intelligent driving technology [6]. - The competitive landscape is expected to intensify as companies ramp up R&D investments and technological innovations to capture market opportunities in intelligent driving [7][8].

Core Viewpoint - The article highlights the launch of Xiaomi's high-end products, including the Xiaomi 15 Ultra smartphone and the Xiaomi SU7 Ultra car, emphasizing the company's strategy to penetrate the high-end market and enhance its product ecosystem [1][2][4]. Group 1: Smartphone - Xiaomi 15 Ultra - The Xiaomi 15 Ultra is positioned as a flagship in imaging technology, featuring a new 1-inch main camera and a 200MP super telephoto lens, with a starting price of 6499 yuan [1][5]. - The device boasts significant upgrades in night photography, display, performance cooling, battery life, and communication systems, aiming for a breakthrough in the 6K+ ultra-high-end market over the next five years [1][6]. - Xiaomi has established a strong presence in the 4-6K yuan price segment and aims to compete directly with Apple in terms of products, services, and ecosystem [1][4]. Group 2: Automotive - Xiaomi SU7 Ultra - The Xiaomi SU7 Ultra is priced at 529,900 yuan, targeting the luxury car market with a focus on performance, technology, and luxury features [2][17]. - The car has received 248,000 sales orders for 2024, with 135,000 units expected to be delivered, indicating strong market demand [2][17]. - It features a maximum power of 1548PS, advanced smart driving capabilities, and a luxurious interior, aiming to redefine standards in the automotive industry [2][18][20]. Group 3: IoT and Home Appliances - Xiaomi has launched multiple IoT products, including smart home appliances and laptops, focusing on high-end market penetration and AI integration [3][8]. - The new product line includes the Xiaomi Buds 5 Pro and various smart home devices, emphasizing performance upgrades and AI applications for seamless device interconnectivity [3][13][14]. - The company is committed to a comprehensive high-end strategy across all product categories, with the central air conditioning system marking its entry into the pre-installation market [3][16]. Group 4: Investment Outlook - Xiaomi is recognized as one of the top three global smartphone manufacturers and the largest AIoT smart hardware platform, with a positive outlook on its growth potential across various business segments [4][4]. - The company is expected to benefit from its high-end smartphone strategy, IoT business expansion, and robust internet services, with projections for revenue growth in the coming years [4][4].

华为旗下深圳引望股权交割有了新进展。 2月28日，赛力斯和长安汽车双双对入股深圳引望智能技术有限公司进展发布公告，在已完成第一期转让价款 支付23亿元基础上，于2月28日支付了第二期转让价款57.5亿元。 此前，2024年1月，华为车BU正式成立智能汽车子公司深圳引望智能技术有限公司（简称"深圳引望"），并对 外引入股东，去年赛力斯和长安汽车纷纷入股深圳引望，均以115亿元价格获得深圳引望10%股权，华为对深 圳引望持股从100%稀释至80%，约定股权款分三期支付。 第二期股权转让款到账 2月28日，长安汽车发布公告，内容同样涉及与华为技术有限公司的联营企业对外投资进展。根据公告，长安 汽车与华为于2023年11月25日签署了投资合作备忘录，计划共同设立一家从事汽车智能系统及部件解决方案的 公司。该目标公司系于2024年1月16日注册为深圳引望智能技术有限公司。 据悉，在将华为车BU分拆出去独立运营的思路下，华为于2024年1月斥资10亿元成立100%控股的深圳引望， 将其定位为"一家从事汽车智能系统及部件解决方案研发、设计、生产、销售和服务的公司"，同时宣布将实施 股权开放。 据悉，深圳引望从事智能汽车解决 ...

Core Viewpoint - The article discusses the relationship between Xiaomi's stock performance and consumer purchasing behavior, particularly in relation to the newly launched SU7 Ultra vehicle, highlighting how shareholders are reinvesting their stock gains into Xiaomi products [1][2][22]. Group 1: Stock Performance and Consumer Behavior - Xiaomi shareholders are using profits from stock investments to purchase new products, including the SU7 Ultra, indicating a strong connection between stock performance and consumer spending [2][5][19]. - A group of Xiaomi shareholders has formed, sharing their experiences of using stock gains to buy Xiaomi products, which has created a new element in Xiaomi's ecosystem [3][4][12]. - The stock price of Xiaomi surged following the announcement of the SU7 Ultra, with shareholders expressing confidence in the vehicle's sales potential [5][22]. Group 2: Individual Shareholder Experiences - One shareholder, Tom, bought Xiaomi stock at a low price and has seen significant returns, allowing him to purchase a SU7 Ultra [7][9][11]. - Another shareholder, known as Tian Tian, opted to invest her funds in Xiaomi stock instead of purchasing a car, resulting in substantial gains that enabled her to buy a more expensive model later [14][15]. - Fish, another investor, plans to buy a Xiaomi vehicle based on her stock performance, demonstrating the direct link between stock investment and product purchases [20][21]. Group 3: Market Sentiment and Future Expectations - Shareholders express optimism about Xiaomi's future stock performance, with some predicting significant price increases that would allow for further purchases of Xiaomi products [23][24]. - The article notes a shift in consumer sentiment, where the success of Xiaomi's stock is influencing purchasing decisions, creating a cycle of investment and consumption [21][25]. - The perception of Xiaomi's business model, characterized by high-quality and affordable products, is driving shareholder confidence and product loyalty [25][26].

Group 1 - Xiaomi launched its high-end car model SU7 Ultra at a starting price of 529,900 yuan, significantly lower than the previous price of 814,590 yuan, and received over 6,900 orders within 10 minutes [3][4] - Xiaomi's stock price reached a historical high of 58.7 HKD per share before closing at 53.1 HKD, with a market capitalization nearing 1.5 trillion HKD [4] - Xiaomi's founder Lei Jun became the new richest person in China, with a net worth close to 440 billion yuan, primarily from his 24.2% stake in Xiaomi [4][5] Group 2 - Tesla's "China version" of FSD faced criticism after a test driver reported multiple traffic violations, highlighting that the driver remains responsible for any infractions [7][8] - Horizon Robotics was recognized by the capital market and included in the Hang Seng Technology Index and the Hang Seng Composite Index, marking a significant milestone for the company [10] - Aston Martin announced a 49% year-on-year drop in sales in the Chinese market and plans to lay off 5% of its workforce due to a 400% increase in pre-tax losses [26] Group 3 - Nvidia's GPU sales surged due to increased demand for the DeepSeek model, with prices for graphics cards rising significantly [14] - ByteDance's AI IDE, Trae, is set to launch in mainland China, offering features like AI-assisted coding and project generation [15] - Baidu and CATL announced a strategic partnership to collaborate on autonomous driving and digital intelligence [16] Group 4 - Alibaba's spring recruitment for 2026 includes over 3,000 positions, with nearly half related to AI, reflecting a strong focus on AI development [17] - Maimai announced the integration of the DeepSeek-R1 model to enhance recruitment efficiency, boasting 120 million users [18] - Cainiao implemented a long-term cash incentive plan for employees, replacing stock options with cash rewards [19] Group 5 - YingShi Innovation received approval for its IPO on the Sci-Tech Innovation Board, marking a significant entry into the capital market for the smart imaging sector [20] - Intel appointed Wang Zhizong as the Vice Chairman of Intel China, aiming to strengthen its management team [21] - Tencent's new product "Yuanbao" has integrated the full version of DeepSeek, launching a large-scale advertising campaign [22]

2025年2月27日 早盘，小米股价一度涨超4% 文｜ 凌川儿 编辑｜ 阿树 新媒体编辑｜ 宝珠 视觉 | 顾芗 2月27日，对雷军来说可能只是一个寻常的工作日，但并不由他掌控，这天他在媒体上经历了人生的"大 起大落"。 此前有多家媒体报道，由于今日早盘小米股价一度涨超4%，创下小米集团股价历史记录，雷军财富超过 农夫山泉创始人钟睒睒，成为中国首富。随后小米股价发生跳水，雷军身价重新被钟睒睒超过。 "雷军喜提中国首富1小时体验卡"的话题也一度冲上热搜榜第一。 27日下午，财联社报道，雷军在武大校友群对此回应称：假消息。 盐财经记者查阅福布斯富豪实时榜单后发现，目前钟睒睒仍以565亿美元的个人财富排名中国第一，雷 军凭借约425亿美元位居第四。 | | | | | | | THE REAL-TIME BILLIONAIRES LIST | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | | | | 2025 List | Request Spreadsheet | Reprints | | | | Filter ...

Core Viewpoint - The article discusses BYD's "Smart Driving Equality" strategy and its potential impact on the new energy vehicle industry, suggesting that it may lead to a revaluation of the sector and highlighting the companies that could benefit from this shift [5][10]. Group 1: Impact of "Smart Driving Equality" - BYD's "Smart Driving Equality" is expected to accelerate consumer education on smart driving, making it a core factor in vehicle purchasing decisions, marking a shift from electrification to smart technology in the automotive industry by 2025 [6][10]. - The article anticipates that traditional fuel vehicle manufacturers will face accelerated elimination due to BYD's advantages in smart driving technology and government policies [7][10]. - BYD is positioned as a leader in this transition, likely to see significant increases in sales and market share by 2025, while competitors like Geely may face risks of declining market share due to slower adoption of smart driving technologies [8][10]. Group 2: Valuation and Market Position - The article raises questions about whether BYD's current stock price has fully accounted for the impacts of the "Smart Driving Equality" strategy, given that its stock has surged by 56% from its lowest point this year [18][19]. - Factors influencing BYD's valuation include competition from other manufacturers in the 10-20 million yuan price range and the potential for new electric vehicle platforms to enhance market share [19][22]. - The article suggests that BYD's stock may still have upward potential based on optimistic projections for sales and profitability, particularly if it can maintain its technological lead and manage costs effectively [31][32]. Group 3: Supply Chain and Technological Advancements - The article highlights the importance of the supply chain in supporting BYD's smart driving initiatives, particularly in the areas of hardware and software integration, which could lead to cost reductions and improved margins [14][25]. - It discusses the potential for new battery technologies and platforms to significantly enhance the performance and appeal of BYD's electric vehicles, contributing to sales growth [24][26]. - The article emphasizes the need for BYD to continue advancing its smart driving technology to maintain its competitive edge and achieve a successful transition to a software-driven valuation model [34][35].

作 者丨杨坪 编 辑丨朱益民 1月中下旬以来，以De e pSe e k为代表的科技新贵强势崛起，带动中概股与港股市场走出修复 行情。高盛、摩根大通、瑞银、德意志银行、摩根士丹利等国际大行纷纷在研报中"看多中国 资产"。 然而，随着中科股估值持续走高，市场上也出现了理性交易的"呼声"。 中金公司2月2 4日发布的研报显示，本轮反弹自春节后（2月3日）算起，恒生科技指数已经累 计上涨2 4%，涨幅进入技术性"牛市"（涨幅大于2 0%）。 随着中科股显现"疲态"，不少投资者开始担忧由De e pSe e k引发的中国资产重估叙事，难以持 续推动上涨行情。 中金公司就在其近期研报中表示："静态看情绪和技术面都是透支的，在当前宏观叙事长期有 待验证但短期无法证伪的情况下，市场上行也需要不断的催化剂。" 中科股现"疲态" 在经历近一个月的大涨后，部分中国科技股出现回调。 2月2 5日，恒生科技指数下跌1 . 6 0%，恒生指数收跌1 . 3 2%，阿里巴巴-W（9 9 8 8 .HK）、腾讯 控股（0 7 0 0 .HK）分别下跌3 . 7 6%、2 . 4 9%。A股市场中，中兴通讯（0 0 0 0 6 3 .SZ） ...

美国三位共和党议员希望马斯克当众议院议长。 美国国会周二公布临时拨款法案，为联邦政府提供运营资金到明年 3 月。这项法案遭到埃隆·马斯 克（Elon Musk）反对，他在社交媒体上发布 20 多条帖子批评，比如不应该为国会议员加薪等。如 果这项方案在当地时间周五（20 日）没有通过，美国政府部门得不到资金支持，就会停摆。 同时有三位共和党议员在社交媒体上建议马斯克担任众议院议长，"众议院议长不必是国会议员"。 此前特朗普提议马斯克担任美国政府效率部门（DOGE）联合主席，但该部门主要负责提案。如果 马斯克成为众议院议长，他将拥有实权。众议院议长也是美国总统第二顺位继承人，但马斯克不是 美国原生公民，无法担任总统。 ChatGPT 早期奠基者全部离开 OpenAI。 据媒体报道，OpenAI 早期员工阿列克·拉德福德（Alec Radford）从 OpenAI 离职。他参与过 GPT-1 到 GPT-4o 的研发，在 2016 年加入 OpenAI，是最早把 Google 提出的 Transformer 架构用到大规模 语言训练的研究者之一，也是确立了当前大语言模型的训练模式的人之一。"只有阿列克·拉德福德 离 ...

二期基金继续获得来自博世集团的基石出资，并获得顶尖机构投资人的高比例复投。 本文为IPO早知道原创 作者｜Stone Jin 微信公众号｜ipozaozhidao 事实上， 博原资本 今年已迎来了一定的收获期 ——成长期投资的黑芝麻智能于8月8日正式登陆港 交所，成为"智能汽车AI芯片第一股"；而同样在成长期投资的佑驾创新MINIEYE日前亦已通过港交 所聆讯，或不久后就将正式在港挂牌上市。 同时， 博原资本 还在积极参与 产业链重组带来的投资机会 ——譬如，由福田新能源的商用车板块 剥离而来的卡文新能源，实则为福田和博世二者决定成立的合资公司，博原一期基金和博世创投均共 同参与了对卡文新能源的投资；2023年10月，上市公司中芯集成公告成立芯联动力，专注于车规级 碳化硅制造和模组封装一站式方案，除上市公司本身外，芯联动力还引入了十几家新能源产业方和车 企作为创始股东，其中就包括了博原一期基金。 博原资本管理合伙人兼董事长蒋红权博士表示："在当前市场环境下，绿色智能出行、半导体、AI结 合制造和新能源等领域展现出了巨大的增长潜力和战略意义，这不仅是科技创新的前沿阵地，更是推 动经济发展和产业升级的关键力量。 ...