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好来谢谢会员秘书各位投资者早上好我是国际电信汽车陈长宏今天由我跟阮婷给大家汇报一下人行经纪人这块的观点跟信息跟市场以及产业沟通的一些情况首先我把行业的大概一个观点跟现在投资阶段给大家汇报一下然后后面的话调研包括产业现在大家资本市场这边大家关注的几个问题由阮婷集中给大家做个汇报 上游的这个四杠啊设备等等啊还有一些新材料啊这些做延伸啊那我们之前呃也是在新材料这个预约一直给大家贡献的标的比较多啊那第二个就是这个20年这个下半年的一个行情其实主要这个横向横向的扩散行情啊所谓横向的扩散就是从特斯拉链扩散到华为啊英伟达啊字节啊等等这些啊所以这个机器人如果从主题角度来说 其实演绎的比较充分无论是横向还是垂直这两个公司从主题角度演绎的非常充分但这一轮行情我们觉得跟前两轮有本质的不一样这轮很明显是后面行业开始逐步进入一个景气度投资的一个阶段为什么主要的说话还是说来自于 特斯拉本身给予了一个变化因为大家之前可能拍人形机器人主要都是拍2030年100万台昨天中午马斯克公开的一个发声也是把百万台这种提前到27年了之前应该说整个板块的重要的压制因素就是大家不知道量的节奏产业链也不知道怎么去扩产 啊那这个人民机器人啊应该这两年啊每年行情 ...

形式对电话会议任何内容进行泄露或外发请勿以任何方式索要泄露散布转发电话会议纪要任何泄露电话会议纪要等信息的行为均为侵权行为申万洪源研究保留追究泄露转发者法律责任的权利好的 尊敬的各位投资者大家晚上好我是申万机械团队的分析师王柯那么感谢大家向于每周日晚上八点钟的我们机器人 三万机器人沙龙的这档栏目那么实际上我们这个系列的研究工作们过去两年一直推出以来也是定位实时的跟踪或者以最快的速度响应市场让大家对于机器人板块关注的一些热点和一些动向那么近期我们能够看到在刚刚过去的一周实际上又有几家这个整车型的龙头公司入局了机器人比如像比亚迪像广汽那么另外一方面我们也看到这个 还有像家电环节像石头科技等等这个扫地机器人搭载了零脚手的这么一种范机器人的这种结构已经开始在家电领域展露头角同时我们也看到海外的一些最新的进展所以我们结合这些相关的一些最新的一些行业动向我们今天晚上有将我们几位老师来共同的在线上进行一个分享那么首先是请出了我们TMT的崔航老师对这个 从英伟达Omniverse这个角度来解读下一代的软和那么有请崔老师好的谢谢柯总也谢谢各位投资者大家晚上好我是声万计算机团队的崔航向各位领导汇报一下英伟达Omniverse的一 ...

Summary of Conference Call on BYD's New MPV Model Company and Industry - The conference call focused on BYD's newly launched MPV model, referred to as "Xia" [1] Key Points and Arguments - **Product Highlights**: The BYD Xia is positioned as a mid-to-large intelligent flagship MPV with a competitive price range of 249,800 to 309,800 CNY, significantly lower than its competitor, the Toyota Sienna, which ranges from 334,800 to 464,800 CNY, creating a price gap of approximately 100,000 CNY [1] - **Sales Outlook**: The company anticipates monthly sales could reach 5,000 units, driven by the vehicle's strong product capabilities and value for money [1][8] - **Specifications**: The Xia features a length exceeding 5.1 meters and a wheelbase over 3 meters, providing substantial space compared to competitors in the same price range [3] - **Interior and Features**: The vehicle includes advanced features such as electric folding third-row seats, a high-end audio system, and various comfort options like heated and ventilated seats, which enhance its appeal [2][4] - **Powertrain and Efficiency**: The Xia is equipped with the fifth-generation DM5.0 technology, offering a pure electric range of 100 to 180 kilometers and a combined range of up to 1,060 kilometers, with a fuel consumption rate of 6.4 liters per 100 kilometers under WLTC conditions [4] - **Competitive Analysis**: The Xia is compared to competitors like the Toyota Gorilla and Sienna, which have a monthly sales volume of approximately 15,000 units combined. The Xia is expected to capture a portion of this market due to its superior product attributes [7][8] Other Important but Possibly Overlooked Content - **Comparison with Competitors**: The Xia's pricing and features are strategically positioned to attract customers from higher-priced competitors, emphasizing its value proposition [5][6] - **Market Positioning**: The vehicle is designed to appeal to family-oriented consumers, with a focus on spaciousness and comfort, which are critical factors in the MPV segment [7] - **Sales Strategy**: The company aims to leverage the Xia's competitive advantages to penetrate the market effectively, particularly against established players like Toyota [8]

Key Points Industry and Company Involved * **Industry**: Humanoid robotics * **Company**: Tesla, Huawei, Apple, NVIDIA, One Technology, Figure AI, BYD, Changan, Guangqi, etc. Core Views and Arguments * **Tesla's Production Plans**: Tesla plans to produce a few thousand Optimus humanoid robots this year, with a potential for 50,000 units if testing goes well. This represents a significant increase in production volume, with a projected 5-10 million units next year. * **Industry Growth**: The humanoid robotics industry is expected to see a tenfold increase in production volume annually, driven by technological advancements and increasing demand. * **Industry Transition**: The industry is transitioning from thematic investment to performance-driven investment, with investors increasingly focusing on industry certainty and earnings growth. * **Huawei's Involvement**: Huawei is actively involved in the humanoid robotics industry, with its own robotics division and partnerships with other companies. * **Apple's Perception Model**: Apple has developed a novel perception model called COMAS, which uses hand models for sensing, different from traditional camera-based approaches. * **Industry Timeline**: 2023 is expected to be a breakthrough year for humanoid robotics, with significant advancements in both hardware and software. 2024 is considered the industry's "birth year," with numerous demos and prototypes being released. 2025 and beyond will focus on application scenarios and software testing. * **Investment Opportunities**: The report suggests focusing on high-certainty Tesla-related stocks, such as Sanhua, Tuopu, Beite, and Mingzhai. Other areas of interest include sensors, perception, and domestic robotics companies. Other Important Points * **Industry Collaboration**: There will be significant changes in industry collaboration and partnership dynamics. * **NVIDIA's Involvement**: NVIDIA is actively involved in the robotics industry, providing a comprehensive range of services from software to hardware and computing platforms. * **AI and Robotics**: AI, particularly large language models, is expected to play a crucial role in the development of humanoid robotics, driving advancements in perception, cognition, and action. * **Challenges**: The development of humanoid robotics faces challenges in data collection, perception, and motion planning, particularly for the "small brain" component. * **Application Scenarios**: The long-term application scenarios for humanoid robots include household use, while short-term applications may involve testing in special scenarios or government-led projects.

Summary of Conference Call Company/Industry Involved - The conference call primarily discusses the robotics industry, with a focus on foreign telecommunications and Tesla's developments in robotics. Core Points and Arguments 1. The foreign telecommunications team remains optimistic about investment opportunities in robotics, particularly highlighting the upcoming strategies for 2023 and 2024 [1] 2. The technology sector is at a peak, and the ongoing competition in the tech space suggests a dual focus on overseas IT and domestic leaders in robotics [2] 3. Anticipated updates to the Optimus robot include significant changes in technology, such as a doubling of freedom in movement and improvements in drive and transmission systems [3] 4. The internal product reserves of the company extend beyond the third generation of robots, with ongoing innovations aimed at cost reduction and smart technology integration [4] 5. There is skepticism in the market regarding the ability of Optimus to meet production targets, but attention should be paid to leading indicators of demand and internal training effectiveness [5] 6. The transition to autonomous operation for the robot is expected to take time, with key components like actuators requiring iterative improvements [6] 7. The integration of motor control precision remains a challenge, necessitating ongoing refinement of hardware compatibility [7] 8. Supply chain development is crucial, with recent communications indicating a gradual increase in production capacity from 5 to 10 units per week since November 2014 [8] 9. The collaboration model with suppliers differs from traditional automotive partnerships, focusing on batch supply contracts rather than fixed-point arrangements [9] 10. The T-chain is identified as a primary focus, with significant potential in domestic supply chains, particularly with companies like Huawei and BYD leading the way [10] 11. The importance of close collaboration with leading IT manufacturers is emphasized for the development of core hardware [11] 12. The investment landscape is expected to benefit from supportive policies and the urgency for domestic robotics development, particularly in light of geopolitical factors [12] 13. Key investment targets include companies that supply core components and those involved in the iterative updates of robotics technology [13] 14. The market is seeing an influx of companies entering the robotics space, particularly in high-value components and sensors [14] 15. The integration of robotics with new energy vehicles is highlighted as a promising area for growth, with expectations for stable performance in the coming years [15] 16. The call concludes with a vision for the future of robotics, emphasizing the need for gradual development from initial concepts to fully operational systems [16] Other Important but Possibly Overlooked Content - The call underscores the importance of maintaining product quality and stability during the scaling process, which is critical for sustaining market share and competitive positioning [9] - The evolving landscape of robotics is marked by a shift towards more collaborative and flexible supply chain arrangements, which may influence future production strategies [9] - The emphasis on technological advancements and the need for continuous improvement in hardware and software integration reflects the dynamic nature of the robotics industry [7][8]

第一,嘉宾所签约的议购投资者以及受邀客户第三,嘉宾发言内容代表着其个人观点所有信息或所表述的意见均不构成具体证券在具体价位、具体时间、具体市场表现的判断或投资建议二,嘉宾所说信息或所表述的意见均不构成具体证券的判断或投资建议 都是特别好的一些客户那就代表他过往的一个能力我自己本身也在汽车行业工作过很长时间以前在舍不得也做过电驱动的开发那么从这一块来看的话它的基础很扎实然后传统汽车供应链的要求是什么就是要求它有一个比较完善的体系和流程去可以满足客户这一块的一个需求就是客户别墅 公司能够做设计能够做访问能够做实验能够把这个东西把它给生产出来其实客户结构很大程度上也折射出了公司的一个底层的能力这个事业很重要怎么看它历史上它历史上同步经验我们能够做财富大众财富大众然后麦格纳形象来讲就说明它的能力是很强这是第一个第二个纬路是什么 如果嘉宾发布的观点和浙商研究所发布的观点有分歧或不一致这也仅作为一种不同的研究视角供投资者参考 第二个维度是他最近两到三年的核心增长点来自于什么地方我始终感觉一个好的公司一个优秀的公司它的发展就像上台阶一样每一个阶段它会有一级台阶那么最近两三年的台阶是什么是差速企业最近两三年是在快速上量基本上 ...

短信 西点药业机构调研报告 调研日期: 2025-01-09 找研报,就上发现报告 目录 一、调研基本情况 二、调研接待对象 三、主要调研内容 发现报告整理制作 fxbaogao.com 吉林省西点药业科技发展股份有限公司是一家专注于化学药品原料药及制剂研发、生产、销售的科技型医药企业。该公司是吉林省2008年首批通过" 高新技术企业"认定的医药企业之一,并先后被评为"国家级高新技术企业"、"国家火炬计划重点高新技术企业"。经过三十余年差异化发展道路,公 司形成了以抗贫血用药、治疗精神障碍用药、原料药为核心,以心脑血管疾病治疗药物和抗肿瘤治疗用药为辅助的产品体系。公司主生产基地位于吉林 省磐石开区西点大街777号,占地136000㎡，建有口服固体制生、干粉生、原料生、中前理及提取生、 中心等。公司原料生基地位于吉林市潭区江路2号,吉林循化工园区占地51000㎡，建有硫酸、富酸、瑞香素原料生 间。公司的核心产品在抗贫血用药、治疗精神障碍用药领域具有显著竞争优势,重点原料药已形成下游稳定供应布局。公司持续推进发展战略实施,产品 类别多样,原料药及制剂的生产能力进一步提高,抗风险及持续成长能力突出。公司不断贯彻创新 ...

Key Points Industry and Company * **Industry**: Media, Coal Industry, Power Generation * **Company**: Not specified, but mentioned as "we" and "us" in the context of discussions about operations, projects, and financials. Core Views and Arguments * **Media Industry**: The media industry has seen significant growth over the past six to seven years, with stable performance and strong contributions from the Chinese market. * **Coal Industry**: The coal industry has undergone significant changes over the past decade, with challenges and opportunities. The company discussed various aspects of the coal industry, including pricing, demand, and competition. * **Power Generation**: The power generation sector is facing challenges due to market competition and regulatory changes. The company discussed its strategies to adapt to these challenges and maintain profitability. Other Important Points * **New Management**: The company recently appointed new executives and directors, reflecting a commitment to change and improvement. * **Project Progress**: The company discussed progress on various projects, including the construction of new railway lines, ports, and power plants. * **Cost Management**: The company emphasized the importance of cost management and efficiency improvements to maintain profitability. * **Market Outlook**: The company expressed cautious optimism about the future, acknowledging the challenges and opportunities in the current economic environment. Detailed Breakdown Industry and Company * **Media Industry**: "From this year onwards, to six years ago, to six years, our entire media range, in terms of age, has already had six roots of black lines. Today should be the seventh year, and it may still be possible to see seven roots of black lines on the agents. Six years, six years, seven years, seven years. So you can know that in the process of meat eyes, the role played by our country's contribution to the suppression of monopoly is still significant." [1] * **Coal Industry**: "The coal industry has changed a lot in the past ten years. It's all right. Today's meeting is mainly about the coal industry. I would like to briefly introduce the company's P5G information information." [2] * **Power Generation**: "The power generation sector is facing challenges due to market competition and regulatory changes. The company discussed its strategies to adapt to these challenges and maintain profitability." [3] Core Views and Arguments * **Media Industry**: "The media industry has seen significant growth over the past six to seven years, with stable performance and strong contributions from the Chinese market." [1] * **Coal Industry**: "The coal industry has undergone significant changes over the past decade, with challenges and opportunities. The company discussed various aspects of the coal industry, including pricing, demand, and competition." [2] * **Power Generation**: "The power generation sector is facing challenges due to market competition and regulatory changes. The company discussed its strategies to adapt to these challenges and maintain profitability." [3] Other Important Points * **New Management**: "The company recently appointed new executives and directors, reflecting a commitment to change and improvement." [2] * **Project Progress**: "The company discussed progress on various projects, including the construction of new railway lines, ports, and power plants." [3] * **Cost Management**: "The company emphasized the importance of cost management and efficiency improvements to maintain profitability." [4] * **Market Outlook**: "The company expressed cautious optimism about the future, acknowledging the challenges and opportunities in the current economic environment." [5]

大家好感谢大家今天参会我们先请昆仑的李总帮我们简单把公司情况介绍一下然后我们再开始QA环节好吧好的各位投资人大家下午好我就先简单的跟大家介绍一下公司的业务的情况昆仑的话我们是从2023年立下了all in AIGC的一个长期的战略 现在我们的AI业务主要分为六大板块,第一个是我们的大模型业务,第二个是我们的AI搜索业务,第三个是我们的AI游戏,第四个是AI音乐,第五个是社交,最后一个是视频。先从大模型开始讲起,昆仑的话我们其实做大模型, 第五个方向呢就是AI社交了啊那我们在24年的年初呢推出了一款AI社交的产品叫做linky那这款产品呢它自从上线以来呢其实就改进了非常强的免信啊就用户的平均用户使用时长呢基本上就没有低于过一个小时啊那目前呢它的DAO大概是在大级十万这样的一个水平 LinkedIn其实它已经开始了商业化的变现也是我们目前看起来未来商业化变现权利最高的一款产品最后一个方向就是我们的AI视频的产品也就是我们在去年12月刚刚上线的SkyRail这款产品它是一个AI短视的产品 已经有将近四年的时间了我们是从2020年就开始做大模型了那我们发布第一个模型的时间是在2021年的6月我们当时就发布了一个百亿参 ...