禾赛科技，成立以来便备受关注的激光雷达赛道龙头企业，2024年在全球激光雷达的收入市占率达到了33%，而在L4 Robotaxi市场市占率高达61%！ 但这样的激光雷达明星股也备受波折，继2024年初，当市场深陷"纯视觉方案与激光雷达"的技术争论时，禾赛科技的市值一度低谷徘徊——激光雷达成本 高企、车企搭载意愿低迷，而机器人和乘用车激光雷达赛道在技术路线出现分歧时市场空间不明朗，叠加美国国防部"黑名单"阴云，海外扩张前景蒙尘。 2. 禾赛为什么在2024年三季度后实现市值的爆发，禾赛做对了什么？ 3. 如何看待激光雷达的市场空间？ 4. 激光雷达赛道是否强者恒强？禾赛的龙头地位能维持吗？ 但仅仅半年后，禾赛又实现了在股价上的颠覆性逆袭。 而上一轮估值大涨的启动点就是行业的盈亏平衡点到来：2024年三季报，由于盈利能力超预期，股价就开始出现了大幅拉升，而四季报又再次以单季 Non-GAAP净利润1.7亿（超指引2000万美元）的大超预期表现，成为全球激光雷达赛道首家盈利的龙头。 而截至2025年7月14日收盘, 禾赛的股价涨幅相比去年三季报前的上一轮估值大涨启动点已经翻了有4倍！ 走向2025年，车企对于智驾的 ...

禾赛科技，成立以来便备受关注的激光雷达赛道龙头企业，2024年在全球激光雷达的收入市占率达到了33%，而在L4 Robotaxi市场市占率高达61%！ 但这样的激光雷达明星股也备受波折，继2024年初，当市场深陷"纯视觉方案与激光雷达"的技术争论时，禾赛科技的市值一度低谷徘徊——激光雷达成本高企、车 企搭载意愿低迷，而机器人和乘用车激光雷达赛道在技术路线出现分歧时市场空间不明朗，叠加美国国防部"黑名单"阴云，海外扩张前景蒙尘。 但仅仅半年后，禾赛又实现了在股价上的颠覆性逆袭。 而上一轮估值大涨的启动点就是行业的盈亏平衡点到来：2024年三季报，由于盈利能力超预期，股价就开始出现了大幅拉升，而四季报又再次以单季Non-GAAP净 利润1.7亿（超指引2000万美元）的大超预期表现，成为全球激光雷达赛道首家盈利的龙头。 而截至2025年7月14日收盘, 禾赛的股价涨幅相比去年三季报前的上一轮估值大涨启动点已经翻了有4倍！ 走向2025年，车企对于智驾的竞争日益激烈，从年初比亚迪用一场浩浩荡荡的"智驾平权"拉开帷幕，但小米SU7的智驾事故又给智驾浇了一盆冷水，本质仍然是智 驾技术的成熟度不足，但此次事故也进一步引发 ...

WAIC 2025 世界人工智能大会 论坛：2025年7月26日-28日 上海世博中心 展览：2025年7月26日-29日 上海世博展览馆 当人工智能深度渗透文娱产业，一场关于技术赋能与人文坚守的行业变革正在上演。AIGC提升内容生产效率，却致创意同质化与版权困境；虚拟人实现 情感交互突破，却因伦理模糊引发数字身份焦虑；文旅视听借AI升级体验，却因文化差异与数据壁垒遇出海瓶颈；音乐疗愈等创新展现融合潜力，却受 限于临床标准缺失与产业转化断层。文娱行业亟需重构创意价值体系，破解标准化与个性化、效率与伦理、本土与全球的矛盾。 在此背景下，2025世界人工智能大会暨人工智能全球治理高级别会议聚焦AI艺术与文娱多元化赋能发展，将从听、看两方面呈现。 「智响未来」AI艺术与文娱论坛矩阵 WAIC 2025艺术与文娱板块将以多场重要论坛的构造，探索AI在艺术、文旅、游戏、传媒等领域的行业解决方案及前景展望。 重点议题 AIGC内容版权确权的技术方案与法律框架 虚拟人情感交互的伦理边界与商业化模式 邀请来自艺术、学术与产业的国内外重要嘉宾，围绕艺术实践的新范式、未来教育的重构、创造力的哲学基础以及政策支持与行业演进等多个维 ...

创新塑造未来 2025中国国际工程塑料产业创新评选 网络投票环节正式开始啦！ 涵盖 万华化学、DOMO、旭化成、LG化学、会通 等头部企业 新材料、新解决方案正在持续发布！ 全网在线投票 专家权威评审 入选丰厚回报 网络投票通道已开启 快来看看吧 ！ 网络投票时间：即日起截止至 7 月 23 日 24 时。 投票前先了解一下 2025中国国际工程塑料产业创新评选--新塑奖"活动，以"创新塑造未来"为主题，专注于挖掘工程塑 料新材料、新工艺、新设备等产业创新点。评选设有 "创新材料奖"、"创新工艺改进奖"、"创新行 业解决方案奖" 三大奖项，旨在宣传行业内的优秀企业，传递企业创新的点滴信息，表彰工程型料行 业的佼佼者，以此推动整个工程型料行业乃致整个塑料行业的发展。 （注：经初审评估， 2025 年 度 " 创新工艺改进奖 " 申报新品数量不足，该奖项本年度暂停评选。） 本月 24日、25日下午 还将进行 专家评审及线上展示阶段 ，各参选 企业产品负责人将汇聚材视直播 间 ，针对参评产品进行线上专家答辩，欢迎持续关注，转发扩散。 "发布新材料、新解决方案的企业 " 2025中国国际工程学 PLASTICS AW ...

Core Insights - Seagull Watch has launched its flagship line of high-complication timepieces at Watches and Wonders 2025, indicating a significant shift in the luxury watch market [1] - The company offers fully in-house complications priced under $4,000, challenging traditional luxury pricing models dominated by Swiss manufacturers [2] - Seagull's engineering capabilities rival those of Swiss peers, with full vertical integration allowing for the production of high-quality components in-house [4] - The brand's direct-to-consumer strategy and community engagement have led to significant sales and recognition in the market [6][8] Company Strategy - Seagull emphasizes transparency and direct-to-consumer sales, avoiding traditional distribution networks and heritage branding [6] - Monthly livestreams on platforms like TikTok have proven successful, selling over 1,500 high-complication watches regularly [6] - The company aims to democratize high complications, making advanced horological engineering accessible to a broader audience [6] Market Trends - A 2023 McKinsey study indicates that heritage branding accounts for 78% of premium watch pricing, a model that Seagull is actively challenging [8] - The trading volume of pre-owned Seagull chronographs has increased by 340% on Chrono24 since 2022, reflecting growing market interest [8] - Over 120 independent microbrands are now utilizing Seagull-manufactured movements, showcasing the brand's influence in the industry [8] Industry Recognition - Seagull's pieces have been included in auction houses like Christie's under "Affordable Icons," highlighting the brand's rising status [8] - The brand is redefining luxury horology by focusing on mechanical performance rather than marketing mystique [10] - Industry experts note a shift towards engineering-led horology, suggesting that traditional narratives may be losing relevance [10]

Core Insights - Daré Bioscience, Inc. has received a $6 million non-dilutive funding installment, increasing total funding to approximately $37.8 million out of a potential $49 million for the development of DARE-LARC1, a contraception-focused application of its intelligent drug delivery system [1][10] - DARE-LARC1 is a preclinical-stage long-acting reversible contraceptive utilizing a programmable drug delivery device to administer levonorgestrel, with broader applications in various chronic conditions [2][6] - The DARE-IDDS platform, originally developed at MIT, has been enhanced by Daré to improve its functionality and is capable of delivering multiple doses over extended periods without the need for recharging or surgical replacement [3][4] Funding and Development - The recent funding milestone will support the advancement of DARE-LARC1 and the development of a versatile drug delivery platform across high-value therapeutic areas [3][10] - Daré is eligible for additional non-dilutive funding of up to approximately $11.2 million, contingent on achieving specified technical milestones [10] Market Potential - The DARE-IDDS platform has potential applications beyond reproductive health, including obesity, diabetes, and other chronic conditions, which could significantly improve patient adherence and reduce healthcare costs [6][7] - The platform's features include precision dosing, extended duration of action, and remote programmability, making it suitable for various therapeutic areas [9] Strategic Partnerships - Daré is actively exploring strategic partnerships to expand the evaluation of the DARE-IDDS platform into additional therapeutic categories [2][10] - The company aims to leverage its innovative technology to address unmet needs in women's health and enhance treatment options [11]

Group 1 - The core concept of the news is the launch of a physical 4S store by Juwei Technology in Hangzhou, allowing consumers to experience and customize their robotic dog, MOVENEW T1, similar to purchasing a car [1][2] - The MOVENEW T1 robotic dog weighs 60 pounds but can carry loads of up to 220 pounds, exceeding the industry average in load capacity and capable of operating in various terrains such as sand, snow, and stairs [2] - The store offers 36 color options and various shell materials for customization, allowing consumers to create a robotic dog that can transform into different functional tools like a mobile suitcase or a logistics assistant [2] Group 2 - The Qiantang district has been recognized as a key growth area for embodied intelligence, with over 100 AI companies and more than 100 innovation parks, contributing to a robust industrial chain in advanced chips, robotics, intelligent perception, and AI algorithms [3] - The district has initiated the construction of an embodied intelligence future industry pilot zone, focusing on attracting quality enterprises, providing targeted policy support, and creating demonstration scenarios to enhance the integration of innovation, industry, finance, and talent [3]

Core Insights - Inspira Technologies has successfully achieved key strategic objectives in discussions with a government health authority, paving the way for the nationwide adoption of its ART100 system [1][2][4] - The government recognizes the ART100 as a clinically validated system, which has initiated a national integration process [2] - A strategic framework has been established to accelerate the integration of ART100 into the national emergency infrastructure and to create a global distribution and manufacturing hub [3][4] Company Overview - Inspira Technologies specializes in advanced respiratory support and real-time blood monitoring solutions, with its ART100 system approved for cardiopulmonary bypass in the U.S. and ECMO procedures outside the U.S. [5] - The company is also developing the next-generation INSPIRA ART500 system and advancing the HYLA blood sensor platform for continuous, non-invasive monitoring [5] - Recent internal shifts within the company may align with broader industry trends such as consolidation and potential strategic partnerships [5]

Core Insights - Cognition Therapeutics, Inc. conducted a positive end-of-Phase 2 meeting with the FDA regarding zervimesine (CT1812) for Alzheimer's disease treatment [1][2] - The SHINE Study demonstrated safety and tolerability, meeting its primary endpoints with 153 participants [4] - Zervimesine has been adopted as the United States Adopted Name (USAN) for CT1812 [3] Company Overview - Cognition Therapeutics is a clinical-stage biopharmaceutical company focused on developing small molecule therapeutics for age-related neurodegenerative disorders [6] - The company is advancing zervimesine through various clinical studies, including ongoing trials for dementia with Lewy bodies and early Alzheimer's disease [6] Study Details - The SHINE Study was a double-blind, placebo-controlled Phase 2 trial that enrolled 153 adults with mild-to-moderate Alzheimer's disease, assessing cognitive and functional changes [4] - The study received approximately $30 million in grant support from the National Institute on Aging [5] Drug Mechanism - Zervimesine is an investigational oral medication that targets the toxic effects of Aβ and ɑ-synuclein proteins associated with neurodegenerative diseases [2][6] - The drug aims to slow disease progression and improve the quality of life for patients suffering from Alzheimer's and dementia with Lewy bodies [2]

我们预计，长期，车载激光雷达 2030 年全球市场规模有望达 500 亿 人民币，机器人激光雷达 2030 年则亦有望达 100 亿人民币。 证券研究报告 | 首次覆盖报告 gszqdatemark 2025 07 10 年 月 日 禾赛（HSAI.O） 赋能机器，感知世界 禾赛：激光雷达领军者。禾赛成立于 2014 年，十年来专注激光雷达的 研发与制造，专利成果遍布全球。禾赛以高清三维感知技术，赋能更安 全更智能的智能驾驶和机器人应用，历经市场验证，出货量全球领先。 禾赛 2022 年-2024 年各出货约 8 万/22 万/50 万颗激光雷达产品，总 收入约 12.0/18.8/20.8 亿人民币，归母净利约-7.5/-4.8/-1.0 亿元，non- GAAP 归母净利约-2.0/-2.4/+0.14 亿元人民币，已经达到盈利拐点。 从智驾到具身智能，激光雷达需求快速增长。我们认为，需求角度：智 驾平权推动了车载激光雷达的需求快速增长、具身智能的发展也推动 各场景机器人激光雷达的需求增加。供给角度：有效的降本创新，使得 激光雷达成为传感器越来越具性价比的选择。 持续降本创新，巩固龙头地位。禾赛在性能突破 ...