[ 哪些车在使用"消费级芯片"？ ] 小米YU7上市后的第一个舆论场出现在对于"车规级"的讨论，YU7的座舱芯片用了消费级的高通8gen3，相比之下无关痛痒的纸巾盒却是车规级，被网友 疯狂调侃"人走盒在"。 实际上，小米YU7并不是第一个使用非车规级芯片的车型，特斯拉早在近十年前就开始了尝试，但也曾因芯片过热失效而大范围召回。 YU7的爆卖，又一次把这个话题推到了风口浪尖上——由消费级芯片控制座舱的智能汽车，到底能不能买？ 省流版：拉到结尾直接看结论。 NO.1 车规级实际上是一种全生命周期的质量管理理念，从产品设计、测试、量产，到变更管理，这是一个系统性工程。 常见的芯片等级一般是按照使用温度、辐射、抗干扰等因素，标准从宽泛到严格分为5类，即消费级、工业级、车规级、军工级、航天级。 在汽车产业，同济大学汽车学院教授朱西产对汽车产经表示，一辆汽车约1000多张芯片，芯片所在的部件功能不同，对于影响人身财产的功能安全的部 件，所用芯片肯定要做AEC-Q100和ISO26262功能安全认证，这就是我们说的"车规级芯片"。 但对于不涉及功能安全的部件，所用的芯片只需要AEC-Q100耐环境能力测试和寿命测试就够了。 ...

Core Insights - Company is addressing investor concerns regarding its competitive gaps in the chemiluminescence sector compared to overseas giants and strategies to close these gaps [1] - The company has gained recognition in the domestic market for its infectious disease and tumor marker packages, and plans to launch a new generation of hormone packages by 2025 [1] - The company is enhancing its localization capabilities overseas, particularly after acquiring DiaSys, which has improved brand recognition and customer trust in Europe [1] Group 1 - The company's in vitro diagnostic segment is performing exceptionally well, with a projected revenue growth of 10.8% year-on-year in 2024, surpassing its life information and support business for the first time [2] - The international in vitro diagnostic business has seen over 30% year-on-year growth, with the domestic chemiluminescence business ranking third in the market for the first time [2] - The company has successfully penetrated 115 overseas third-party laboratory chains and installed two MT8000 full laboratory automation lines, with expectations for further growth in 2025 [2] Group 2 - The company is committed to establishing local operations and teams in Europe and developing countries to strengthen its overseas presence [1] - The heart marker and hormone package projects have received widespread recognition from European and American experts, indicating potential for clinical academic collaborations [1] - The company aims to catch up with imported brands in five core chemiluminescence packages and achieve superior performance in certain projects [1]

昨日涨跌幅前五行业 | 行业名称 | 涨跌幅(%) | | --- | --- | | 银行 | 1.000 | | 传媒 | 0.119 | | 家用电器 | 0.043 | | 交通运输 | -0.064 | | 石油石化 | -0.229 | | 数据来源：聚源 | | 其 他 研 究 昨日涨跌幅后五行业 沪深300 及创业板指数近1年走势 数据来源：聚源 -40% -20% 0% 20% 40% 60% 2024-05 2024-09 2025-01 沪深300 创业板指 | 行业名称 | 涨跌幅(%) | | --- | --- | | 美容护理 | -2.026 | | 社会服务 | -1.799 | | 基础化工 | -1.702 | | 环保 | -1.478 | | 房地产 | -1.390 | 数据来源：聚源 开源晨会 0523 ——晨会纪要 吴梦迪（分析师） wumengdi@kysec.cn 证书编号：S0790521070001 观点精粹 总量视角 【固定收益】财政数据，验证经济状态、政策取向——固收专题-20250521 行业公司 【医药：迈瑞医疗(300760.SZ)】国内市场蓄 ...

迈瑞医疗（ [Table_StockNameRptType] 300760） 公司点评 海外市场支撑业绩增长，IVD 成为公司第一大业务 | 投资评级：买入（维持） [Table_Rank] | | | | --- | --- | --- | | 报告日期： | 2025-05-07 | | | [Table_BaseData] 收盘价（元） | | 220.24 | | 近 12 个月最高/最低（元） | | 351.60/ | | | | 206.80 | | 总股本（百万股） | 1,212 | | | 流通股本（百万股） | | 1,212 | | 流通股比例（%） | | 100.00 | | 总市值（亿元） | | 2,670 | | 流通市值（亿元） | | 2,670 | [公司价格与沪深 Table_Chart] 300 走势比较 -40% -24% -7% 10% 26% 5/24 8/24 11/24 2/25 迈瑞医疗 沪深300 [Table_Author] 分析师：谭国超 执业证书号：S0010521120002 邮箱：tangc@hazq.com 分析师：李婵 执业证书号：S00 ...

2025 年 5 月 1 日 公司研究 25Q1 业绩短期承压，看好公司长期发展 ——迈瑞医疗（300760.SZ）2024 年年报及 2025 年一季报点评 要点 事件：迈瑞医疗发布 2024 年年报及 2025 年一季报。2024 年公司实现营业收入 367.26 亿元，同比增长 5.14%；归母净利润 116.68 亿元，同比增长 0.74%；扣 非归母净利润 114.42 亿元，同比增长 0.07%。2025 年一季度实现营收 82.37 亿元，同比下滑 12.12%；归母净利润 26.29 亿元，同比下滑 16.81%；扣非归 母净利润 25.31 亿元，同比下滑 16.68%。 点评： 24 年业绩微增，25Q1 业绩短期承压：2024 年公司从业务结构来看，体外诊断 业务收入 137.65 亿元，同比增长 10.82%，首次超越生命信息与支持业务，成 为第一大业务板块；生命信息与支持业务收入 135.57 亿元，同比下降 11.11%； 医学影像业务收入 74.98 亿元，同比增长 6.60%。25Q1 业绩承压，主要原因包 括海外业务去年同期基数较高，以及国内业务因从招投标到确认收入的时间拉长 ...

Core Viewpoint - Mindray Medical has received an AA rating from MSCI ESG, but issues in the bidding process reveal compliance shortcomings [2][3] Group 1: ESG Performance - In 2024, Mindray Medical actively implemented digital transformation and accelerated globalization, integrating new domestic A-share sustainable development disclosure regulations into daily operations [2] - The company has been recognized by external rating agencies, maintaining an AA rating from MSCI ESG and being included in the S&P Global "Sustainability Yearbook (China Edition) 2024" [2] Group 2: Compliance Issues - Mindray Medical has faced multiple controversies regarding bid disqualifications and questions about winning bids, indicating potential deficiencies in compliance management, responsible marketing, and antitrust practices [3][7] - A specific case involved Inner Mongolia Xinjirong Medical Equipment Co., which won a bid for a Mindray product but was later disqualified due to allegations of providing false materials and not meeting technical specifications [4][6] Group 3: Marketing and Bidding Practices - The company has been accused of engaging in "rotten bidding" practices, where bid parameters appear open but are tailored to favor Mindray's products, raising concerns about exclusivity and low-price strategies [7][9] - In 2024, Mindray Medical's bidding practices have led to significant controversies, including instances where bid prices were substantially lower than market rates, raising questions about the sustainability of such strategies [9][10] Group 4: Impact on Industry - The low-price bidding strategy may hinder competition from smaller companies and could lead to a price war within the industry, potentially impacting innovation and long-term sustainability [9][11] - The reliance on low-priced equipment with minimal profit margins may result in reduced after-sales service quality, leading to increased customer complaints [9][11]

Summary of Mindray Medical Conference Call Company Overview - **Company**: Mindray Medical - **Fiscal Year**: 2024 - **Key Financials**: - Net profit attributable to shareholders increased by 4.36% year-on-year - Operating cash flow net amount increased by 12.38% to 12.432 billion CNY - Total revenue for 2024 was 36.726 billion CNY, a 5.14% increase from the previous year - Planned cash dividends for 2024 totaled 7.602 billion CNY, with a payout ratio of 65.15% [2][3][4] Industry Performance - **International Market**: - Strong performance with a growth of 21.28%, accounting for 45% of total revenue - Asia-Pacific region grew nearly 40%, while Europe rebounded with over 30% growth - High-potential businesses such as minimally invasive surgery, animal healthcare, and cardiovascular accounted for nearly 10% of international revenue [2][5] - **Domestic Market**: - Domestic revenue decreased by 5.1% due to weak tendering and the impact of DRG 2.0 - Anticipated recovery in growth by Q3 2025 as local fiscal pressures ease and medical equipment update projects commence [2][5] Product Line Performance - **In Vitro Diagnostics (IVD)**: - Grew by 10.82% overall, with international growth exceeding 30% - Domestic market affected by policy changes but market share increased [2][6][7] - **Medical Imaging**: - Grew by 6.60%, with international growth over 15% - Launch of high-end ultrasound Verona A20 contributed significantly [2][7] - **Life Information and Support**: - Declined by 11%, but international markets saw double-digit growth - Domestic market maintained leading market share in monitoring and respiratory products [2][7] Research and Development - **R&D Investment**: - 2024 R&D investment was 4.008 billion CNY, accounting for 10.91% of revenue - Continued focus on innovation with multiple new product launches in various fields [3][11][12] Sustainability and ESG - **Sustainability Initiatives**: - Maintained MSCI ESG rating of A - Set carbon reduction goals with a reported 11.6% decrease in carbon intensity by the end of 2024 compared to 2021 [2][13] Market Outlook - **Domestic Market Potential**: - Confidence in long-term growth despite recent slowdowns - Anticipated acceleration in medical equipment updates and government investments in healthcare [10][14] - **International Market Strategy**: - Plans to enhance supply chain and marketing strategies to mitigate tariff impacts - Targeting a long-term goal of 30% domestic and 70% international revenue [15][17] Challenges and Risks - **Tariff Impacts**: - U.S. tariffs have not significantly affected North American business, with a compound annual growth rate of 10% from 2018 to 2023 - Ongoing adjustments to supply chain and material sourcing to manage costs [18][19] Future Growth Strategies - **Five-Year Plan**: - Focus on digitalization, streamlined production, and international expansion - Emphasis on integrating AI and IT with medical devices to enhance clinical decision-making [20][21] - **IVD Growth**: - Expected to remain a key growth driver with new product launches and competitive upgrades planned [23][24] Conclusion - **Overall Outlook**: - Mindray Medical is positioned for continued growth through strategic investments in R&D, international market expansion, and a focus on sustainability, despite facing challenges in the domestic market and external economic pressures [30][31]

《中国经营报》记者注意到，该款车型在座舱、安全等方面均有新技术傍身。在座舱设计上，EZ-60充 分融入了科技感和悬浮感，搭载了行业唯一超150英寸的6联科技大屏，大尺寸、多数量的屏幕为用户带 来舒适、开阔、无死角的信息视野。 长安马自达全面转型新能源时代的战略级产品日前亮相2025年上海国际车展。 "我相信EZ-60能以马自达独有的行驶性能、操控驾趣和智能科技，给中国用户带去极具品质感的出行体 验。"马自达汽车株式会社社长毛笼胜弘日前在2025年上海国际车展上表示，EZ-60是一款融合了汽车与 生俱来的纯正魅力和为锐意进取的中国用户量身定制的先进技术的跨界SUV。 在被动安全领域，EZ-60全系标配9气囊，包括远端气囊，总容积高达370L，保护面积高达2.65万cm²， 同级领先。7横5纵的高强度铠甲笼式结构，高强钢占比达到86.5%，其中，前防撞梁和车门防撞梁采用 了2000MPa热成型钢，车顶横梁采用了1470MPa的世界最高强度冷轧钢。 在主动安全领域，EZ-60则全系标配L2级组合驾驶辅助系统，超过30项行泊一体辅助功能，覆盖用户 200+使用场景，满足用户的高频需求。AEB刹停速度提升至80KM/h ...