国信证券发布研报称，随着L2/L2+级自动驾驶汽车渗透率持续增长，带动智能驾驶相关的零部件成本 下降，而L4和L2/L2+的零部件存在共通性，L4级自动驾驶硬件的成本进一步降低，Robo-X预计在2026 年迎元年时刻。市场空间方面，2030年，参考文远知行招股说明书，全球L4市场空间上万亿，国内出 租车和网约车年化市场规模2360亿元，2025年Robotaxi在共享出行里面占比0.6%。竞争格局方面，建议 关注Robotaxi、Robovan、Robotruck、Robobus以及Robosweeper入局玩家。 国信证券主要观点如下： 标的方面 Robo-X整车销售/运营方面，自主Robo-X玩家崛起，推荐小马智行-W(02026)、文远知行-W(00800)、小 鹏汽车-SW(09868)，建议关注佑驾创新(02431)。零部件方面，基于数据流角度进行推荐，数据获取环 节，推荐禾赛-W(02525)、速腾聚创(02498)，建议关注图达通(02665)；数据传输环节，推荐沪光股份 （605333）(605333.SH)；数据处理环节，推荐科博达（603786）(603786.SH)、华阳集团（0029 ...

Group 1 - Nvidia has received approval from the US government to sell its H200 AI chips to China, which is seen as a positive move for the company [4] - JD.com acknowledged a temporary system failure in its "随心囤" service and stated it would bear all losses incurred by merchants due to this issue [4] - Sam's Club responded to a report of a live mouse found in a product, stating that the issue was due to external factors and they would enhance their packaging and delivery services [4][6] Group 2 - Canon's factory in Zhongshan has halted production, with compensation for employees reportedly exceeding legal standards, with an average payout around 2.3N [6] - Ideal Auto plans to launch its first L4 autonomous vehicle within three years, indicating a strong belief in the future of driverless cars [8] - Xiaomi is set to close underperforming stores as part of a strategic shift towards quality improvement, incurring a one-time loss of approximately 27.26 million yuan [8] Group 3 - Huawei's Yu Chengdong announced the launch of the first MPV named "智界 V9" under the HarmonyOS, emphasizing its technological innovations [8] - Tencent has rebranded its large model from "混元" to "Tencent HY" for better market alignment [8] - Anker Innovations stated its commitment to responsible product recalls, implementing measures to enhance product reliability [8] Group 4 - PepsiCo plans to cut 20% of its US product line and implement layoffs as part of a cost-reduction strategy following pressure from activist investors [13] - Blue Current, a solid-state battery company, has raised over $80 million in funding led by Amazon, aimed at accelerating commercialization [13] - MetaComp, a cross-border payment service provider, completed a multi-million dollar Pre-A round of financing to enhance its technology and market reach [14] Group 5 - IDC predicts a significant growth in the foldable smartphone market by 2026, driven by new product launches from major brands [18][20] - Morgan Stanley forecasts that humanoid robots will lead a surge in tech stocks, with the market potentially exceeding $5 trillion by 2050 [21]

风险提示及免责条款 市场有风险，投资需谨慎。本文不构成个人投资建议，也未考虑到个别用户特殊的投资目标、财务状况或需要。用户应考虑本文中的任何 意见、观点或结论是否符合其特定状况。据此投资，责任自负。 理想汽车：我们三年内会推出L4定义车型。对于市场上关于"未来3至5年内一定会出现没有驾驶座的 车"的畅想，我们给出了明确而积极的回应。根据公司的规划，理想汽车将在三年内，即2028年左右， 推出首款为L4级自动驾驶定义的汽车。 理想汽车董事长兼CEO李想甚至进一步畅想，到2030年，公司 有50%的概率会推出一款人工智能超级跑车。这表明，理想汽车对于"没有驾驶座的车"这一未来趋势， 不仅有着清晰的规划，更充满了信心和期待。公司认为，L4级自动驾驶的实现，将是汽车行业真正 的"iPhone 4时刻"，将引发一场深刻的产业革命。（每经网） ...

几乎与此同时，英国具身智能企业Wayve宣布将与Uber合作，在伦敦开发和启动L4级自动驾驶汽车的公共道路试验，在道路布局和交通规则明显不同于 美国的英国城市测试L4级自动驾驶技术。 ea 147 1 2 And Production of the Brands . 198 P sep = th July 201 per 1999 9-11-2 1987 North S and 1 第 1 8 1 01 art 801 Car 2017 N A Fall 2 and and a 2 4 17 1 pla as p Phone of the m and States get Cash 12 产 ry at the first and 1 1 4 - 2 1 00 . r 1 19 108 22 71 1 2 44 % 201 r 221 6 23 8 NNI 20 1 8 r 18 P 99 1 自动驾驶的发展，正在全球范围内掀起新一轮热潮。 6月11日，英国交通部门官员在2025年伦敦科技周上宣布，计划于2026年春季在英格兰的道路上启动自动驾驶商业化示范运行试点。 据介绍，这意味着明年春天，企业在指定区域内 ...