本周研究更新: 博通，AEC，工业富联，小米YU7，铜缆，CPO，BBU，布鲁可，豆包，FSD，优必选，特斯拉，光纤，蔚小理，恒立液压，苹果，舜宇，苏美达，咖啡，美团，AI玩具，新秀丽，DeepSeek，达美乐，微信小店，BTC，动力电池，隆基，氮化镓电源，诺和诺德，上药，贝壳，黄金，原油

Head Android smartphone brand research: 2025 AI investment plan, including talent introduction, computing power card supplementation, etc., specific collaboration with Kingsoft Cloud, 2025 AI hardware development expectations - Apple/Huawei/Honor/Oppo/Vivo/Xiaomi

https://www.acecamptech.com/summary/detail/70549002

海风及海缆2025年展望—招标量、竞争格局及价格情况

https://www.acecamptech.com/summary/detail/70549013

固德威

https://www.acecamptech.com/summary/detail/70549010

固德威

https://www.acecamptech.com/summary/detail/70548998

Iphone17系列有何变化？—版本、外观、尺寸、摄像、芯片及散热

https://www.acecamptech.com/summary/detail/70549175

苏美达柴油发电机业务进展

https://www.acecamptech.com/summary/detail/70549112

优必选的估值方式思考

https://www.acecamptech.com/summary/detail/70549092

消费

CLS调研:OpenAI自研情况, TPU forecast, v4/5/6拆分, Meta/AWS交换机25年出货量/份额/客户展望 - 聚焦谷歌/AWS/Meta/Flex/Arista/博通/英伟达

https://www.acecamptech.com/summary/detail/70549196

南极人电商2025年加速转型和品牌升级，更受益于电商平台的流量规则变化，轻奢系列持续爬坡

https://www.acecamptech.com/summary/detail/70549190

Short video DY e-commerce Research: 2024 review and 2025 GMV growth target, MAC and APRU trend changes, impact of national subsidies - Douyin/Kuaishou/Alibaba/Jingdong/Pinduoduo

https://www.acecamptech.com/summary/detail/70549143

短视频DY电商调研：2024年复盘及2025年GMV增长目标，MAC及APRU变化趋势，货架场GMV占比提升预期，国补影响等 - 抖快/阿里/京东/拼多多/视频号

https://www.acecamptech.com/summary/detail/70549134

TEMU Research: 2024 Business Review and 2025 GMV Growth Expectations, Potential Policy Impacts and Response Strategies in Core Regions such as the United States and Europe, Management Focus Allocation - PDD/SHEIN/BABA/TikTok

https://www.acecamptech.com/summary/detail/70549121

瑞幸咖啡

https://www.acecamptech.com/summary/detail/70549140

瑞幸咖啡

https://www.acecamptech.com/summary/detail/70549135

TEMU调研：2024年业务复盘及2025年GMV增长预期，美国、欧洲等核心地区潜在政策影响及应对策略，管理层重心分配等 – PDD/SHEIN/BABA/TikTok

https://www.acecamptech.com/summary/detail/70549117

某外卖巨头线上生鲜超市调研：未来战略重点布局江浙区域，精细化运营谋求盈利

https://www.acecamptech.com/summary/detail/70549116

某跨境电商巨头调研：最新产品线及人员调整，海外核心地区销售表现，线下体验店布局及对整体销售影响

https://www.acecamptech.com/summary/detail/70549113

美团-W

https://www.acecamptech.com/summary/detail/70549090

低训练成本对算力的影响？国产大模型厂商竞争格局与梯队评估, 大厂模型商业化路线, 25年应用展望

https://www.acecamptech.com/summary/detail/70549098

Test-time compute背后推理成本与算力消耗变化, o3模式下硬件形态与bottleneck展望, ASIC vs. GPU算力格局之变

https://www.acecamptech.com/summary/detail/70549097

通义的硬件布局和云产品发展思路

https://www.acecamptech.com/summary/detail/70549078

Cloud Market Potential and Migration Challenges: AWS, MongoDB, Snowflake, Databricks, Iceberg, and the AI Era

https://www.acecamptech.com/summary/detail/70549071

外卖市场调研：2025年外卖单量增长预期，拼好饭对传统外卖影响，2025年客单价估计，潜在UE变化

https://www.acecamptech.com/summary/detail/70549067

Market Research on AI Toys: Core considerations for toy companies when choosing models such as Dou Bao and Tongyi, estimated growth rate of AI toy shipments and token consumption, and a comparison of domestic and international markets

https://www.acecamptech.com/summary/detail/70549065

云计算市场潜力与企业上云障碍：从AWS平台优势、MongoDB独特地位到Snowflake与Databricks竞争、Iceberg标准推动与AI时代的未来展望

https://www.acecamptech.com/summary/detail/70549064

AI玩具市场调研：玩具公司在选择豆包、通义等模型时核心考量点，AI玩具出货量增长节奏及Token消耗量估计，上游硬件核心供应商及其特点，国内外市场对比 - 字节/阿里/智谱/MiniMax/乐鑫/全志

https://www.acecamptech.com/summary/detail/70549058

未上市扫地机器人龙头企业调研：从小米生态链到自有品牌智能清洁家电巨头，未来国内海外并进，品类延伸到泛机器人领域

https://www.acecamptech.com/summary/detail/70549053

头部潮玩IP的路越来越难走，未来一定是腰部IP占主导地位的时代

https://www.acecamptech.com/summary/detail/70549051

DeepSeek V3深度解读:架构/训练方法/数据工程/优化等各方位创新点解读, 对业界implication

https://www.acecamptech.com/summary/detail/70549016

服务器液冷调研: GB200良率不足三成, 增加测试产线保证出货节奏, GB300或采用两相式液冷, HVDC替代UPS是高功率密度下的必然趋势 - 聚焦英伟达/Meta/Oracle/亚马逊/CoolIT/Boyd/nVent/CoolerMaster

https://www.acecamptech.com/summary/detail/70549000

WeChat Mini Store - Research on Daily Necessities Brand Merchants: The differentiation of WeChat Mini Store compared to other e-commerce platforms, the investment comparison on major e-commerce platforms by 2025 - Tencent/Pinduoduo/Alibaba/Jingdong/Douyin

https://www.acecamptech.com/summary/detail/70548983

【瑞幸咖啡】竞争优势持续提升，2025进入收获之年

https://www.acecamptech.com/summary/detail/70549185

新秀丽，1910-HK，低风险回报的双引擎

https://www.acecamptech.com/summary/detail/70549184

Samsonite 1910-HK, a special situation, but good one!

https://www.acecamptech.com/summary/detail/70549152

Domino's Pizza Inc (DPZ.O) – A leading pizza Company

https://www.acecamptech.com/summary/detail/70549110

达美乐（DPZ.O)-积极扩张的披萨品牌商

https://www.acecamptech.com/summary/detail/70549107

Potential Operational Risks for BLOKEES

https://www.acecamptech.com/summary/detail/70549043

How Did Dongpeng Beverage Achieve Remarkable Growth Against the Trend?

https://www.acecamptech.com/summary/detail/70549042

China Feihe: An Overlooked Consumer Goods Leader

https://www.acecamptech.com/summary/detail/70549041

Eight Questions and Answers About Laopu Gold (Part Three)

https://www.acecamptech.com/summary/detail/70549040

2024 Consumer Goods Investment Summary and 2025 Outlook

https://www.acecamptech.com/summary/detail/70549039

Evaluating Investment Opportunities from WeChat Store's Gift-Giving Feature

https://www.acecamptech.com/summary/detail/70549036

如何看待微信小店送礼功能带来的投资机会？

https://www.acecamptech.com/summary/detail/70549031

HBM前瞻：24年已经过剩，谨慎看待25/26年市场供需

https://www.acecamptech.com/summary/detail/70549029

TMT

字节跳动

https://www.acecamptech.com/summary/detail/70549188

AppLovin Ads: Game, E-commerce, Short Drama Strategies Differ; E-commerce Needs SPU and Targeting; PC/Console Untapped

https://www.acecamptech.com/summary/detail/70549146

Gemini系列大模型：算力、成本与未来展望

https://www.acecamptech.com/summary/detail/70549160

字节跳动

https://www.acecamptech.com/summary/detail/70549157

满帮

https://www.acecamptech.com/summary/detail/70549154

AppLovin广告投放全解析：游戏、电商、短剧投放逻辑各异，电商依赖SPU与精细人群标签，PC/Console仍待深耕

https://www.acecamptech.com/summary/detail/70549137

腾讯控股

https://www.acecamptech.com/summary/detail/70549118

小米调研: 端+云侧模型战略布局及进展, 生态建设是差异化关键, 自研SoC进展, iPhone16中国区销量同比下降10% - 聚焦苹果/三星/谷歌/高通/联发科/字节/百度

https://www.acecamptech.com/summary/detail/70549093

产业链

https://www.acecamptech.com/summary/detail/70549080

头部互联网大厂AI Capex调研：最新大模型研发及应用策略 – 字节/阿里/百度/华为/海光

https://www.acecamptech.com/summary/detail/70549062

世纪互联

https://www.acecamptech.com/summary/detail/70549061

CrowdStrike

https://www.acecamptech.com/summary/detail/70549033

o3深度解读:亮点与局限, test-time compute成为业内共识, 最优路径选择原理, 应用场景, 训练与推理互相迭代之路

https://www.acecamptech.com/summary/detail/70549028

吴恩达对AI AGENT的解析：为什么COT会显著提升Agent的实用性

https://www.acecamptech.com/summary/detail/70549019

头部安卓手机品牌调研：2025年在AI领域投入规划，包括人才引进、算力卡补充等，与金山云具体合作，2025年AI硬件发展预期 - 苹果/华为/荣耀/OV/MI/蔚小理

https://www.acecamptech.com/summary/detail/70548973

新致软件：AI保险经纪人是辅助还是替代？

https://www.acecamptech.com/summary/detail/70549153

深度解析Google最新AI Agent白皮书 - 技术突破、架构创新与商业机遇

https://www.acecamptech.com/summary/detail/70549166

天娱数科：AI应用“样样通样样松”

https://www.acecamptech.com/summary/detail/70549142

大模型创业公司图谱：市场化分叉ToB/ToC，退出模式分叉To市场/To政府或者大厂，做模型做应用各有选择

https://www.acecamptech.com/summary/detail/70549066

BBU：NVIDIA Sets New Standards, Power Assurance Trends, and China's Manufacturing Advantage: High Margins Yet Unsustainable

https://www.acecamptech.com/summary/detail/70549074

Applovin Research Summary (Part 1): Business Model Analysis, Data Advantages, Gaming & E-commerce Growth, and Valuation Insights

https://www.acecamptech.com/summary/detail/70549018

DeepSeek-V3大模型的成果得益于什么？

https://www.acecamptech.com/summary/detail/70549004

汽车

【Michael调研纪要】新能源汽车2025年市场景气度及竞争格局前瞻

https://www.acecamptech.com/summary/detail/70549183

The 5 causes to BTC's recent pullback, assessment on meme coin's trend and potential. On-chain data, Trump World Liberty Financial, Solana Phone, and NFT token issuance.

https://www.acecamptech.com/summary/detail/70549149

AEC调研:订单/份额/主要客户需求, 1.6T进展, 英伟达已下AEC订单, 传统汽车业务近况 - 聚焦英伟达/字节/新易盛/Credo/Marvell/立讯/特斯拉

https://www.acecamptech.com/summary/detail/70549174

BTC回调的5个因素，对meme coin行情和潜力的判断。链上数据、川普World Liberty、Solana手机、NFT发币等探讨。

https://www.acecamptech.com/summary/detail/70549147

某头部增程式造车新势力：2025年自动驾驶发展规划，Mind GPT大模型及应用场景

https://www.acecamptech.com/summary/detail/70549131

国内某电车公司人形机器人进展更新—部门协同、场景应用及提升方向

https://www.acecamptech.com/summary/detail/70549128

某德系豪华汽车品牌：产能利用率，终端表现，利润率变化，2025生产规划

https://www.acecamptech.com/summary/detail/70549123

GB300设计调整促使CSP转单，DrMOS过热问题严重性。 DeepSeek v3的创新和实际成本，v4将引入多模态。Grok 3推迟原因、合成数据占比、主权AI需求等。AOS/MPS/x.AI/OpenAI/Gemini

https://www.acecamptech.com/summary/detail/70549072

The 4 possible scenarios of BTC price trend. Investment logic behind meme coins, miners upgrade rigs, AI Agent project hype. MSTR/ai16z/Virtual/Grass/Bitdeer

https://www.acecamptech.com/summary/detail/70549030

Leading Power Battery Manufacturer’s Chocolate Battery Swapping: Overall Planning & Cooperation Mode with Car Companies

https://www.acecamptech.com/summary/detail/70549026

North American NEV Companie’s FSD v13 Research: Actual Experience Improvement, Comparison with China’s Manufacturers

https://www.acecamptech.com/summary/detail/70549025

Intelligent Driving System’s Solution Supplier Research: Intelligent Driving Chip, E2E Algorithm, Large Model, Intelligent Cabin

https://www.acecamptech.com/summary/detail/70549024

Two experts discuss the Model Y redesign, YU7's product comparison, and the impact on sales

https://www.acecamptech.com/summary/detail/70549011

【Michael调研纪要】龙头动力电池厂商巧克力换电调研：换电体系整体规划，与车企合作模式

https://www.acecamptech.com/summary/detail/70549003

【Michael调研纪要】北美新能源车企FSD v13调研：实际提升体验，与国内厂商对比

https://www.acecamptech.com/summary/detail/70548999

智驾系统方案供应商调研：智驾芯片、端到端算法、大模型、智舱等

https://www.acecamptech.com/summary/detail/70548997

Patrick路演: GB200的问题正在成为英伟达的 “壁垒”

https://www.acecamptech.com/summary/detail/70549096

2025年新能源车的投资机会来自30万元以上豪华车

https://www.acecamptech.com/summary/detail/70549035

半导体

联想AIPC调研：2024年表现及2025年预期，AI扩展卡的实现方式及成本，英特尔、高通及AMD产品对比，潜在存储及散热领域投资机会 - 联想/戴尔/惠普/英特尔/高通/AMD/英伟达/摩尔线程

https://www.acecamptech.com/summary/detail/70549161

服务器电源调研: GB300电源设计方案/单瓦价值量/毛利率, GB200 Q1出货1500柜,微软砍单, 供应商格局和份额展望 - 聚焦麦格米特/英飞凌/纳微/瑞萨/英伟达/鸿海/广达

https://www.acecamptech.com/summary/detail/70549162

交换机大厂调研:三大CSP厂商800G采购量价/供应商份额/拉货节奏详拆,业务结构及盈利能力更新-聚焦Meta/谷歌/AWS/英伟达/博通等

https://www.acecamptech.com/summary/detail/70549158

铜缆更新:AEC市场规模,主要厂商,未来预测,价格及成本构成—聚焦兆龙/瑞可达/新易盛/Credo/AWS/XAI等

https://www.acecamptech.com/summary/detail/70549155

英伟达

https://www.acecamptech.com/summary/detail/70549132

隆基绿能

https://www.acecamptech.com/summary/detail/70549126

PCB/CCL调研:GB200/GB300/ASIC芯片PCB方案设计,供应商份额,材料及价值量,客户订单节奏等拆解-聚焦胜宏/生益/沪电/斗山/天弘/AWS/英伟达/Meta等

https://www.acecamptech.com/summary/detail/70549124

氮化镓电源调研:在数据中心/新能源等领域的产业进展,市场空间,玩家竞争格局,与碳化硅等其他材料对比 -聚焦纳微科技/PI/英飞凌等

https://www.acecamptech.com/summary/detail/70549122

近存计算调研:AI硬件化带来的市场增量,新技术应用场景/客户订单,国产存储颗粒进展更新等-聚焦长鑫/字节/光羽等

https://www.acecamptech.com/summary/detail/70549120

麒麟9020和910C销量预期维持强劲，大厂28nm近期无降价压力。寒武纪590和海光深算三号的产能和需求情况。910D/中微/联电/格芯/先进

https://www.acecamptech.com/summary/detail/70549109

ASIC调研:TPU的出货量预期与价格,成本拆解,厂商合作等-聚焦谷歌/微软/meta/英伟达等

https://www.acecamptech.com/summary/detail/70549087

英诺赛科

https://www.acecamptech.com/summary/detail/70549081

互联网大厂AI投入调研:算力卡采购规模/供应商/国产化率,资本开支计划,算力应用场景,分配团队分工等-聚焦字节/华为/寒武纪等

https://www.acecamptech.com/summary/detail/70549082

互联网大厂AI算力需求调研:资本开支计划,各家AI芯片采购量及评价,大模型能力等-聚焦寒武纪/昇腾/海光/英伟达/腾讯/字节等

https://www.acecamptech.com/summary/detail/70549055

铜缆调研：AEC需求情况,与传统无源铜缆相比的优势,未来发展情况,主要厂商需求情况

https://www.acecamptech.com/summary/detail/70549054

台光电

https://www.acecamptech.com/summary/detail/70549050

GB200、GB300和Rubin的电源方案差异，碳化硅与氮化镓的成本、供应和性能差异。伟创力/光宝/麦格米特/英诺赛科/英飞凌/AWS/META/TPU

https://www.acecamptech.com/summary/detail/70549046

Rubin整机柜电源设计方案,发布节奏,GB200供应链出货节奏,碳化硅/氮化镓电源模块性能等-聚焦英伟达/台达/麦格米特等

https://www.acecamptech.com/summary/detail/70549044

服务器电源市场调研：NVL36&NVL72服务器配套PSU功率及单价，GB200电源供应商，910C机柜功率等 – 台达/长城/光宝/浪潮

https://www.acecamptech.com/summary/detail/70549027

CPO: Promising Yet Challenging – Short-Term Overestimated, Long-Term Underestimated, Priority on Cloud Providers, Next Step Focus on Compute Power Manufacturers

https://www.acecamptech.com/summary/detail/70549172

CPO：前景大挑战多，短期高估长期低估，云厂商优先用，下步看算力厂

https://www.acecamptech.com/summary/detail/70549136

2025年大模型发展预测，关于agent几大研发方向

https://www.acecamptech.com/summary/detail/70549111

BBU储能电池：英伟达选作标配、电力保障新趋势、国内制造业完美满足、毛利高但难持续

https://www.acecamptech.com/summary/detail/70549057

AEC: NVIDIA is not using it for now, but this does not affect the market's potential ceiling or growth rate; with high technical barriers, substitutes are not easily achievable in the short term, and the ultimate competition may come down to Chinese manufacturers.

https://www.acecamptech.com/summary/detail/70549014

AEC：英伟达暂不用，但不影响天花板及增速；技术壁垒高，平替暂不易，华人终对决

https://www.acecamptech.com/summary/detail/70549009