????:1????????:??????

2????????

3??????????

4????????

5?spa????

?????????????IPO????????????????,?????,?????,????????????????,??,??????????????,?????????“?????????”????????,????????

??IPO

???????????IPO????????????????3?,??IPO??????????????,?????,????????????,??????2019?6?????????“?2023?,??????,??????????????5.6%?”???????????????,?8??????????,????????????????3?????????25?????,????

???????????????????????????????????3??????????????,?IPO???,?????????6???????????,????????????????IPO,2020???10??????????2021???????4??????????2023?2???????????2023????????????????8???????????????????????

??????,?????????????,??IPO??????????????????4??,?,???????????????,?????????????(???)??????????????

????,???????????????????IPO?????????????????????????????????,???????CEO????????????????????????,2024???“?????”??IPO??????????????,2024???IPO????,??IPO?

??,??????6?????????26??,??,??????????IPO???????????????,???????????????,??,?????????????,????183????

?,??,?????????IPO??

??

?????,????????????????????,20212023???,????10.14???????13.68?21.61???????????????????????????????????????????????????,????????????????????????,20212023??,??99.2%?91%??83.9%?

??,????“???????????”???????????????????,20212023??????,?????6.85????6.27??6.93?,?????20?????,???????????????????????,20212023?????????,??????3.8?????????3.3?3.4???????,2023?????????2022??????????????1.07?????1.55??????????????????,??2023??

??,????????????????,2023?????????????-7%?

???????20212023????????,??71.53??????????76.31??????????????????106.68?????????????????????,20212023??????????,???????????30.07?????????????20.07???19.81?????????????????????????,20212023?????????????????,??????5.06??????????????6.39???8.36???????????????????????,???20212023???????,??88.99???????????????79.7???????100.52??????????,????,20212023????-24.4%??????5.8%?

????????,??????,??????????????,???????????????,????????????,?,???????,20212023??691??2689??????????9551?????????????????,?,??

??,?:“?????????????????????,?????????”?,???,????????,?????????????,??????????????,??????????????,?????????????,???????,?????

??

?????,???????????Robotaxi?

?????????????????????,?????????????2030??,??10.5?????,???????????Robotaxi?Robotruck??Tier1(?????????????????????)??????????????????3??????????????????,??IHS?????,??2030?2.25??????,?????????Robotaxi?????????60%,??1.3????CEO?????????,Robotaxi?,????

2021??,?Robotaxi??????,??Robotaxi??100?,????????????,??????????????80%???????????????????????????,??2021??Robotaxi?????????,?????40%????Robotaxi???????????????????,15%??Robotaxi??????????????????????????,???????????Robotaxi??

?????,2022??????9??,?????????Robotaxi??????????????????????????????Robotaxi?,?????????,??Robotaxi???????????,??,??????????2025???????????????????????????,Robotaxi??1???????,Robotaxi??????????

?? ?????? ??

????:????????????????????