" Robotaxi即将构建完整的运营生态闭环。 " 作者丨谷雨 近日，一辆装备多个传感器的SUV路测谍照流传网络。经辨认，照片拍到的正是滴滴自动驾驶与广汽埃安 合作的首款前装量产无人驾驶车。 此前，在3月的广汽星灵智行发布会上，广汽集团董事长冯兴亚便透露，双方合作的L4级别自动驾驶前装 量产车型将于年内下线交付。 路测照片的流传，验证了双方合作的首款前装量产Robotaxi即将迎来真正的量产。 根据规划，前装Robotaxi的量产，将推动双方在2026年初建立起"AI+智造+运营"的L4商业生态闭环，稳 步推进Robotaxi的规模化运营。 过去十年，自动驾驶行业经历了从狂热到冷静的完整周期。而随着新一轮的AI热潮，自动驾驶也终于走出 低谷，开始走向真正的商业化应用。 作为网约车行业巨头，滴滴无疑将是受自动驾驶影响最大的企业之一。但同时，早早布局自动驾驶业务的 滴滴，又是否能成为最早登上Robotaxi商业化落地大船的企业之一，为行业带来新的变革？ 01 Robotaxi迎来真正的春天 从2024年至今，全球多家自动驾驶公司在Robotaxi领域实现新的突破。再次引发行业关注。 在国际市场上，自动驾驶领头羊 ...

Group 1 - The core issue driving the market crash is Trump's tariff announcement, which has led to significant market sell-offs as investors fear the implications of delayed negotiations [3] - The Dow Jones Industrial Average dropped 715 points, while the Nasdaq fell by 2.7%, resulting in a collective loss of $3.6 trillion for the top seven tech companies [2][3] - Major tech companies like Tesla, Amazon, Google, and Meta experienced substantial declines, with Tesla losing over $30 billion in market value and Amazon dropping 4.34%, affecting their leadership positions [3][4] Group 2 - Chinese concept stocks faced severe declines, with companies like Hesai Technology and Pony.ai dropping over 10%, while the education sector saw a surprising rise with Lixiang Education increasing by 32% [4] - Gold prices surged past $3,000, indicating a shift in investor confidence towards safer assets amid market volatility [4] - Historical parallels are drawn to past tariff-related market crashes, suggesting that the current situation could lead to significant declines in the stock market if major tech companies continue to falter [4]

Group 1 - The core viewpoint of the articles revolves around the performance of various companies in the food and consumer goods sectors as they expand overseas, highlighting both successes and challenges faced in international markets [2][3][4][5][8][10][13]. - Bawang Tea's aggressive marketing strategy and its potential overseas expansion are discussed, indicating a shift in focus after years of domestic growth [3]. - Pop Mart's overseas single-store revenue reportedly exceeds domestic figures by more than three times, showcasing its successful international strategy [4]. Group 2 - The article on Xiaohongshu sellers indicates mixed feelings about their initial success in overseas markets, suggesting that while sales have increased, there are underlying concerns [5]. - Pony.ai's revenue has seen consistent growth, but its Robotaxi segment has faced a decline, raising questions about its future direction amidst operational challenges [6]. - The article discusses the increasing presence of Chinese businesses in Japan's funeral industry, illustrating a strategic and gradual market penetration approach [7]. Group 3 - Chinese automotive companies are advised to be cautious of common pitfalls when entering the European market, emphasizing the need for patience and strategic planning [8]. - The rapid growth of smart home appliances from Suzhou, with a reported 400% increase in sales on AliExpress, highlights the effectiveness of targeted marketing and product innovation [13]. - OpenAI's projected revenue growth to $12.7 billion this year, doubling from last year's $3.7 billion, reflects the strong demand for its AI software [11].

Core Insights - The company, 如祺出行, reported a total revenue of 2.463 billion RMB for the year 2024, marking a 14% year-on-year growth, with a significant increase in gross margin by 80% [1][2] - The company aims to expand its ride-hailing and Robotaxi services internationally, improve operational efficiency, and enhance the Robotaxi experience [1] Revenue Growth - The core business revenue from ride-hailing and Robotaxi services reached 2.199 billion RMB, reflecting a 21.2% increase year-on-year [2] - The registered user base grew to 34.5 million, a 45% increase, while the total ride service orders reached 113 million, up 15.7% year-on-year [2] - Overall transaction volume increased by 8.7% to 2.979 billion RMB, driven by the rise in order volume [2] Profitability Improvement - The gross profit margin improved significantly, with a year-on-year increase of 80%, and gross profit improved by 76.5%, leading to an 18.6% increase in profit [2] - Factors contributing to the margin improvement include increased technology service revenue, reduced incentives for customers and drivers, and enhanced operational efficiency [2] Investment in Autonomous Driving - The company invested 140 million RMB in R&D for Robotaxi and operational areas, a year-on-year increase of 18.8% [3] - The operational range of Robotaxi services expanded from Nansha, Guangzhou to Baoan and Nanshan in Shenzhen, and other areas [3] - As of February 2025, the company operated over 300 Robotaxi vehicles, covering more than 2 million kilometers in the Greater Bay Area [3] Low-altitude Travel Services - The company is exploring low-altitude travel service operations, including flying cars, to create a comprehensive intelligent travel platform [5] - The partnership with GAC Group aims to leverage data services for advanced autonomous driving model development [4]

新加坡副总理王瑞杰周二表示欢迎 百度 (BIDU.US；9888.HK)将其萝卜快跑(Apollo Go)自动驾驶出租车服务 引入这个东南亚城市。此举可能成为百度自动驾驶出行服务全球扩张计划的重要里程碑。 另据媒体报道，知名投资人凯西·伍德(木头姐)近期增持了百度股票。百度是中国大语言模型和自动驾驶领 域的领军企业之一。 About Us Bamboo Works 咏竹坊 专注于报道中概股新闻。 用高质量的中英文内容帮助中国企业讲好中 国股事，触达全球投资者。 我们的报道也通过全球各大财经平台进行分发。日均触达200,000人次的全球投资者。 如需咨询，请联系 info@thebambooworks.com Bamboo Works is a premium business content provider with a strong focus on overseas listed Chinese companies. We provide high quality, in-depth coverage to help investors and others to better understand t ...

来源 | 美股研究社 自2024年11月27日成功登陆纳斯达克、成为"全球Robotaxi第一股"后，小马智行发了新历史阶 段的首份业绩报。 财报显示，公司营收连续三年保持增长，全年同比增长4.3%；但经调整净亏损达11.21亿元， 同期研发费用同比增长14%至10.06亿元，凸显出技术投入与盈利能力的博弈远未来到某个临界 点。 而这也是当前整个自动驾驶行业的处境：处于从技术验证向规模化应用过渡的关键阶段。 期间，尽管小马智行管理层对其技术的商业化充满信心。譬如小马智行联合创始人、CEO彭军 在财报中表示，在技术成熟和充足资金的共同驱动下，公司正加速推进自动驾驶商业化的拐点 到来。 但资本市场对自驾驾驶玩家盈利路径的质疑始终存在。截至目前，包括小马智行、文远知行等 在美上市的自驾驾驶企业股价均表现低迷，处于历史地位。 透过小马智行这份财报，管理层对其技术的商业化充满信心的底气具体在哪？ 营 收 三 连 涨 ， 全 靠 R o b o t r u c k 吸 金 ， R o b o t a x i 拖 后 腿 ？ 2024年，小马智行总营收5.48亿元（单位：人民币，下同），同比增长4.3%，尽管增速较2023 ...

衡宇 李根 发自上海 量子位 | 公众号 QbitAI 可问题是这都已经2025年了……最早出发的具身智能创业者，在3年前的时间点已经下水。进展快速的具身智能公司，也已经开启场景验证和 落地。以及具身智能领域，也从不缺天才和大牛创业者。 还有什么样的创业团队，凭什么在此时此刻搅动如此风云？ 一位知情人士说，核心原因是团队豪华，堪称 梦之队 ，而且还是有过硬科技完整落地经验的工程派。也有人拿NBA篮球类比， "库里和约基 奇联手组了队，联盟大结局" ——库里是三分外线第一人，约基奇则被视为最全能的内线中锋，而这家公司背后的核心人物也是 两位自动驾 驶领域的第一人 。 据说这两人联手创业的进展传出后，获得了这样的评价： 陈亦伦带队，牛了；李震宇坐镇，稳了。 他们在上海，组建战队，取名 它石智航 TARS ，竞逐具身智能的GPT时刻。 他们创业的消息，实际流传已久，但现如今随着创纪录的1.2亿美元天使融资曝光，再也藏不住了。 中国具身智能最壕天使轮融资 它石智航（TARS） 官宣的新进展是这样的： 完成天使轮1.2亿美元融资，开启具身智能创业新征程。本轮融资由蓝驰创投、启明创投联合领投，线性资本、恒旭资本、洪泰基 ...

Group 1 - Pony.ai reported a revenue of 548 million yuan for 2024, representing a year-on-year growth of 4.3% [1] - The company's revenue for 2022 and 2023 were 472 million yuan and 510 million yuan respectively, marking three consecutive years of revenue growth [1] - In 2024, Pony.ai's autonomous driving ride-hailing service generated revenue of 53.28 million yuan, while the Robotaxi business achieved a quarterly revenue of 259 million yuan in Q4 [1] Group 2 - The autonomous driving industry is still in a pre-profit state, with WeRide reporting a revenue of 361 million yuan in 2024, down 10% from 402 million yuan the previous year [2] - Mobileye's revenue for 2024 decreased by 20.4% to 1.654 billion USD, with a net loss reaching 3 billion USD [2] - Industry experts emphasize the importance of actual scalable commercial applications and the ability to adapt to new technological changes for autonomous driving companies [2] Group 3 - The profitability plans of autonomous driving companies are now on the agenda, with LoBot planning to achieve break-even in Wuhan by the end of 2024 and full profitability by 2025 [2] - Pony.ai's Robotaxi is expected to reach single-vehicle break-even between 2025 and 2026, with profitability dependent on the speed of Robotaxi deployment [2] - Current regulatory progress and technological advancements may accelerate production capacity ramp-up, potentially leading to profitability before 2029 [2]

Core Viewpoint - SenseTime's R-UniAD end-to-end autonomous driving solution is set to be unveiled at the Shanghai Auto Show in April, with real vehicle deployment completed and expected delivery by the end of the year [1][3]. Group 1: Company Developments - Wang Junping, former senior director of intelligent driving at Nezha Auto, joined SenseTime's autonomous driving division in February 2023, previously being part of Baidu's intelligent driving team [2]. - SenseTime has been collaborating with Nezha Auto since September 2021, focusing on intelligent driving and smart cockpit technologies [2]. - Wang Weibao, who took over from Shijianping as the head of intelligent driving, joined SenseTime at the end of 2023 and has a background in Apple's autonomous driving team and as CTO at New Stone Unmanned Vehicle Company [3]. Group 2: Industry Context - The autonomous driving sector is experiencing intensified competition, particularly for companies not in the top tier, highlighting the challenges faced by solution providers [3]. - SenseTime collaborates with over 30 automotive companies, including GAC, BYD, Honda, and NIO, with solutions already deployed in models like the Haobo and Nezha's super sedan [3].

一凡 发自 凹非寺 量子位 | 公众号 QbitAI 自动驾驶实现垂直领域的AGI，有了新路径。 不是Robotaxi ，而是 RoadAGI 。 在英伟达GTC 2025上，元戎启行CEO 周光 受邀分享， 提出用RoadAGI，能更快大规模商用自动驾驶，实现垂直道路场景下的AGI ， RoadAGI的实施平台，是元戎最新分享的 AI Spark ： 不借助高精地图 ，一个平台赋能智能车、机器人甚至小电驴……总之，一切可动的移动体，都将具有自主移动的意识。 这是一条通过自动驾驶实现AGI的新途径。 元戎启行和CEO周光，代表AI公司、自动驾驶公司，开辟起了第二种可能性。 所以RoadAGI究竟是什么？ 用RoadAGI迈向AGI 先说人人可感知的场景—— 你下一次点的外卖，可能是这样的： 赛博"外卖小哥"， 全程不用高精地图 ，自动识别店铺： 拿到商品后，一溜小跑到路口，自主识别到红绿灯： 然后一停二看三通过： 它还能进到楼里，自己过闸机、摁电梯： 然后到电梯里，再自己摁楼层： 出电梯直接给你送到公司前台： 整个过程，是不是跟咱们人一样？ 你也可以让它把商品放外卖柜里： 这就是元戎启行在 英伟达GTC 20 ...