请务必阅读免责条款 2025 年 7 月 28 日星期一 【实时热点】 【美国债市】 资料来源：BLOOMBERG、AASTOCKS、WIND、格隆汇、国元证券经纪（香港）整理 1 券 研 究 报 告 证 美国与欧盟达成 15%税率关税协议 世卫组织：基孔肯雅热病毒扩散全球多地 约 550 万人面临 感染风险 中国 6 月规模以上工业企业利润同比下降 4.3% 降幅收窄 国常会：部署逐步推行免费学前教育有关举措 中国上半年个人所得税 7945 亿元，同比增 8% 上半年创新药和医疗器械获批数量同比大幅增长 农业农村部等十部门发布《促进农产品消费实施方案》 宇树科技王兴兴：今年上半年全国智能机器人行业平均增速 可达 50%到 100% 特斯拉第三代机器人即将进入中国 C 端市场 大众汽车 Q2 营业利润同比下降 29% 2 年期美债收益率涨 4.89 个基点报 3.918% 5 年期美债收益率涨 3.52 个基点报 3.961% 10 年期美债收益率涨 1.79 个基点报 4.398% | 重要指数 | 收市价 | 涨跌(%) | 海外市场重要指数 | 收市价 | 涨跌(%) | | --- | --- | - ...

Group 1: AI Industry Developments - China leads the world with 1,509 large models out of a total of 3,755 globally, showcasing rapid iteration in foundational AI models across various industries such as electronics and consumer goods [1] - The "AI Investment Alliance" was officially established during the 2025 World Artificial Intelligence Conference, aiming to create a collaborative platform for investors and integrate resources for high-quality development in China's AI industry [2] - Keling AI announced over 45 million global users and has generated more than 2 billion videos and 400 million images since its product launch, indicating significant user engagement and content creation [2] Group 2: Technological Innovations - Tencent released and open-sourced the "Hunyuan 3D World Model 1.0," along with various other models, enhancing capabilities in 3D modeling and multi-modal understanding [3] - SenseTime launched the "Wuneng" embodied intelligence platform, which utilizes its world model to provide advanced perception and interaction capabilities for robots and smart devices [4] - Tesla's third-generation robot is set to enter the Chinese consumer market by 2025, with plans for mass production of 1 million units within five years [4] Group 3: Automotive Industry Insights - In June 2025, China's automotive market reached a global share of 36%, a 4 percentage point increase from the previous year, with total sales of 1,565 million vehicles in the first half of the year [6] - Shanghai plans to deploy 500 data-collecting ride-hailing vehicles in 2024, aiming to gather over 10 million data clips to support the development of high-level autonomous driving [6]

| | | 同卫王坏主安汉示相刻 | | | | --- | --- | --- | --- | --- | | 市场 | 名称 | 现价 | 涨跌 | 涨跌幅 | | | 上证指数 | 3593.66 | -12.07 | -0.33% | | | 深证成指 | 11168.14 | -24.92 | -0.22% | | | 创业板指 | 2340.06 | -5.31 | -0.23% | | | 恒生指数 | 25388.35 | -278.83 | -1.09% | | | 恒生国企指数 | 9150.49 | -107.13 | -1.16% | | 亚洲 | 恒生科技指数 | 5677.9 | -65.10 | -1.13% | | | 台湾加权 | 23364.38 | -9.35 | -0.04% | | | 日经225 | 41456.23 | -370.11 | -0.88% | | | 韩国KOSPI | 3196.05 | 5.60 | 0.18% | | | 印度孟买Sensex | 81463.09 - | -721.09 | -0.88% | | | 越南VNINDEXghui ...

中国品牌汽车海外展览会在智利开幕 据新华社，第二届中国品牌汽车海外（智利）展览会25日在智利首都圣地亚哥列斯科会议中心开幕。包 括奇瑞、福田、徐工、赛力斯等在内的十多个中国品牌燃油车和新能源汽车等产品在展会上亮相。 智利交通电信部负责交通的副部长豪尔赫·达萨在活动上接受采访时说，中国是智利在绿色出行领域的 重要战略伙伴，预计到2026年初，将有约4400辆中国制造的电动公交车在智利首都大区运营。此外，智 利在2024年1月至2025年5月间新获认证的电动车型中，有四成以上来自中国。 上汽获颁上海市新一批智能网联汽车示范运营牌照 据上汽集团消息，2025世界人工智能大会（WAIC 2025）上，上汽智己汽车（联合享道出行）和上汽友 道智途双双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。 特斯拉第三代机器人即将进入中国C端市场 科创板日报报道，据特斯拉相关人士消息，目前特斯拉第三代机器人已在美国工厂进行实测，预计2025 年面向中国C端市场推出，将进入家庭等消费场景，预计2026年实现量产，计划5年内年产100万台。 理想汽车创始人、CEO李想入 ...

TOP3大新闻 少林寺住持释永信涉嫌刑事犯罪，正在接受多部门联合调查 7月27日，据少林寺官方网站消息：少林寺住持释永信涉嫌刑事犯罪，挪用侵占项目资金寺院资产；严 重违反佛教戒律，长期与多名女性保持不正当关系并育有私生子。目前正在接受多部门联合调查。有关 情况将及时向社会公布。 近日，有媒体发现，少林寺方丈释永信社交账号突然停更，最近一条的发布时间为7月24日早6时58分。 释永信的个人微博开通于2018年3月20日。截至今年7月24日，释永信的微博开通时间为2683天，共发布 微博4005条，平均每天约1.5条。到目前为止，释永信的微博有粉丝87.8万。记者搜索其账号发现，7月 份其微博账号每日至少发布一条动态。 公开资料显示，释永信，俗名刘应成，男，汉族，1965年9月6日出生，安徽颍上人，第九至十二届全国 人大代表、现任少林寺方丈、河南省佛教协会会长、中国佛教协会副会长。（上观新闻、红星新闻） 据了解，25日上午8时许，员工到店准备开门营业，突然接到通知，洪水来了，必须紧急撤离，洪水退 去后，叶先生发现店内的货柜及柜内的金银首饰被冲走，保险柜也不见了。报警后，警方在店门口拉起 了警戒线，派人值守、管控现 ...

【今日头条】 农业农村部等十部门发布促进农产品消费实施方案 为贯彻落实党中央、国务院关于大力提振消费的决策部署，有力有效扩大农产品消费，农业农村部、国 家发展改革委、教育部、工业和信息化部、商务部、文化和旅游部、国家卫生健康委、市场监管总局、 体育总局、国家知识产权局联合制定了《促进农产品消费实施方案》。涉及港股十月稻田(09676)、中 国心连心化肥(01866)、阜丰集团(00546)、德康农牧(02419)、中粮家佳康(01610)、凤翔股份(09977)等。 【大势展望】 恒生指数ADR下跌0.21% 上周末美股截至收盘，道琼斯上涨208.01点，涨幅为0.47%，收于44901.92点。纳斯达克综合指数上涨 50.36，涨幅为0.24%，收于21108.32点。标普500指数上涨25.30点，涨幅为0.40%，收于6388.65点。英 特尔(INTC.US)跌8.53%，特斯拉(TSLA.US)涨3.52%。 上周道指累计上涨1.26%，纳指上涨1.02%，标普500指数上涨1.46%。上周标普500指数连续第五次刷新 收盘纪录，2025年累计第13次创新高。周一该指数首次突破6300点关口。纳斯达 ...

Group 1 - The Ministry of Agriculture and Rural Affairs, along with ten other departments, released a plan to boost agricultural product consumption with 23 specific measures across nine areas [2][3] - E-commerce platforms are encouraged to support rural areas by nurturing local farmers as influencers and conducting themed live broadcasts to promote agricultural products [2][3] - The "Internet+" initiative aims to enhance agricultural product distribution from rural to urban areas, improving user experience and expanding local retail supply [2][3] Group 2 - Support for food companies to collaborate with research institutions to develop new food ingredients and technologies for preservation and quality control [3][4] - Promotion of quality standards for agricultural products, including geographical indication fruits and green food certifications, to enhance consumer trust and demand [4] - Financial institutions are encouraged to innovate in providing loans and marketing support for agricultural products, integrating consumption policies across various sectors [4][5] Group 3 - Strengthening the regulatory framework for food safety, particularly in the production and transportation of agricultural products, to ensure quality and safety [4][22] - Enhancing urban and rural consumption infrastructure, including modern distribution networks and cold chain logistics, to facilitate the movement of fresh agricultural products [4][22] - Encouraging local cultural events to promote rural consumption and showcase local products and heritage [4][22]

1 、 国家统计局数据显示， 6 月规模以上工业企业利润同比下降 4.3% ，同比降幅较 5 月有所收窄， 以装备工业为代表的新动能行业利润增长较快， " 两 新 " 政策带动效果持续显现。 1-6 月，全国规模以上工业企业实现利润总额 34365 亿元，同比下降 1.8% ； 1-6 月份，黑色金属冶炼和压延加工业利润同 比增长 13.7 倍，采矿业利润同比下降 30.3% 。 2 、 美国与欧盟达成 15% 税率关税协议。美国总统特朗普表示，该协议将对大多数输美欧洲商品征收 15% 的关税，其中包括汽车。 特朗普表示，欧盟 将比此前增加对美国投资 6000 亿美元，欧盟将购买美国军事装备，并将购买 1500 亿美元的美国能源产品。 欧盟委员会主席冯德莱恩称，部分产品将免 征关税，包括飞机及其零部件、部分化学品和药品。 冯德莱恩 承认，欧盟与美国尚未就烈酒领域做出决定，贸易协定框架的细节将在未来几周内公布。 3 、参考消息援引香港《南华早报》网站报道， 据两名知情人士透露，一个美国高级别商界代表团即将访华。 报道说，此次北京之行由美中贸易全国委 员会组织，代表团由该委员会董事会主席、联邦快递首席执行官拉杰 ...

《科创板日报》7月26日讯，特斯拉相关人士向《科创板日报》记者透露，目前特斯拉第三代机器人已 在美国工厂进行实测，预计2025年面向中国C端市场推出，将进入家庭等消费场景，预计2026年实现量 产，计划5年内年产100万台。 特斯拉第三代机器人即将进入国C端市场 ...

Investment Rating - The industry investment rating is maintained as "Positive" [5] Core Viewpoints - Tesla's announcement regarding the progress of the third-generation robot enhances the certainty of industry development expectations and the anticipation of new technology implementation [2][8] - The market's concerns about delays in Tesla's robot development are expected to dissipate, leading to stronger confidence in the industry's growth prospects [3][8] - The third-generation humanoid robot prototype is expected to be completed within three months, with production planned to start in early 2026, targeting a monthly output of 100,000 units within five years [8] Summary by Relevant Sections Investment Suggestions and Targets - Focus on leading companies within Tesla's robot supply chain, including Top Group (601689, Buy), Sanhua Intelligent Control (002050, Buy), Zhenyu Technology (300953, Buy), Tonglian Precision (688210, Not Rated), and Hengli Hydraulic (601100, Not Rated) [3] Industry Developments - The positive signals for mass production of domestic humanoid robots are expected to strengthen the outlook for the industry [7] - The anticipated advancements in Tesla's third-generation robot are expected to lead to improvements in motion coordination and the ability to perform complex tasks, which will positively impact companies aligned with these new technological changes [8]