648 lines
29 KiB
HTML
648 lines
29 KiB
HTML
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<!DOCTYPE html>
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<html lang="zh-CN">
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<head>
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<meta charset="utf-8" />
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<meta name="viewport" content="width=device-width, initial-scale=1, shrink-to-fit=no">
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<title>杭州六小龙-群核科技 | 空间智能第一股</title>
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<style>
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body {
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font-family: 'Inter', sans-serif;
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background-color: #0f172a;
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background: linear-gradient(135deg, #3b82f6, #8b5cf6);
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-webkit-text-fill-color: transparent;
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background-clip: text;
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background: rgba(30, 41, 59, 0.7);
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#tsparticles {
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position: fixed;
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width: 100%;
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height: 100%;
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z-index: -1;
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}
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.table-responsive {
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overflow-x: auto;
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}
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@media (max-width: 768px) {
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.timeline-line {
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</style>
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</head>
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<body>
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<div id="tsparticles"></div>
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<div class="container mx-auto px-4 py-8 max-w-6xl">
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<!-- 标题部分 -->
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<div class="text-center mb-12">
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<h1 class="text-4xl md:text-5xl font-bold mb-4 gradient-text">杭州六小龙-群核科技</h1>
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<p class="text-xl text-slate-300 mb-2">全球空间智能第一股</p>
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<div class="flex justify-center items-center space-x-2 text-slate-400">
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<i class="fas fa-calendar-alt"></i>
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<span>更新于 2025年7月</span>
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</div>
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</div>
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<!-- 核心观点摘要 -->
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<div class="card-glass rounded-2xl p-6 mb-8 hover-scale">
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<div class="flex items-center mb-4">
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<div class="w-10 h-10 rounded-full bg-blue-500 flex items-center justify-center mr-3">
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<i class="fas fa-lightbulb text-white"></i>
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</div>
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<h2 class="text-2xl font-bold gradient-text">核心观点摘要</h2>
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</div>
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<div class="space-y-4">
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<div class="bg-slate-800/50 rounded-xl p-4 border-l-4 border-blue-500">
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<h3 class="text-lg font-semibold text-blue-300 mb-2">关键拐点</h3>
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<p class="text-slate-300">群核科技正处于<strong>"技术验证→商业化落地→资本化加速"</strong>的关键拐点</p>
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</div>
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<div class="grid grid-cols-1 md:grid-cols-3 gap-4">
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<div class="bg-slate-800/30 rounded-xl p-4">
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<h4 class="text-blue-400 font-semibold mb-2">当前阶段</h4>
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<p class="text-sm text-slate-300">酷家乐为现金流支柱，SpatialVerse为第二增长曲线，2024年前9个月营收5.53亿元</p>
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</div>
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<div class="bg-slate-800/30 rounded-xl p-4">
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<h4 class="text-blue-400 font-semibold mb-2">核心驱动力</h4>
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<p class="text-sm text-slate-300">空间智能技术SpatialLM的开源生态+港交所上市带来的资本与品牌红利</p>
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</div>
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<div class="bg-slate-800/30 rounded-xl p-4">
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<h4 class="text-blue-400 font-semibold mb-2">未来潜力</h4>
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<p class="text-sm text-slate-300">单客户ARPU值或从设计工具（千元级）跃升至训练平台（万元级）</p>
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</div>
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</div>
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</div>
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</div>
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<!-- 概念事件与时间轴 -->
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<div class="card-glass rounded-2xl p-6 mb-8 hover-scale">
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<div class="flex items-center mb-6">
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<div class="w-10 h-10 rounded-full bg-purple-500 flex items-center justify-center mr-3">
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<i class="fas fa-history text-white"></i>
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</div>
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<h2 class="text-2xl font-bold gradient-text">概念事件与时间轴</h2>
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</div>
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<div class="relative pl-8 md:pl-10">
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<div class="timeline-line"></div>
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<div class="relative mb-8">
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<div class="timeline-dot"></div>
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<div class="bg-slate-800/50 rounded-xl p-4">
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<div class="flex items-center mb-2">
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<span class="bg-blue-500 text-white text-xs px-2 py-1 rounded mr-2">2025.02.14</span>
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<h3 class="text-lg font-semibold">港交所递交上市申请</h3>
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</div>
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<p class="text-slate-300">群核科技向港交所递交上市申请，冲刺"全球空间智能第一股"，摩根大通和建银国际为联席保荐人</p>
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</div>
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</div>
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<div class="relative mb-8">
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<div class="timeline-dot"></div>
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<div class="bg-slate-800/50 rounded-xl p-4">
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<div class="flex items-center mb-2">
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<span class="bg-blue-500 text-white text-xs px-2 py-1 rounded mr-2">2025.02.11</span>
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<h3 class="text-lg font-semibold">"杭州六小龙"概念出圈</h3>
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</div>
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<p class="text-slate-300">群核科技与深度求索（DeepSeek）、宇树科技、游戏科学、云深处科技、强脑科技共同被定义为"杭州六小龙"</p>
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</div>
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</div>
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<div class="relative mb-8">
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<div class="timeline-dot"></div>
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<div class="bg-slate-800/50 rounded-xl p-4">
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<div class="flex items-center mb-2">
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<span class="bg-blue-500 text-white text-xs px-2 py-1 rounded mr-2">2025.03.19</span>
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<h3 class="text-lg font-semibold">开源SpatialLM模型</h3>
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</div>
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<p class="text-slate-300">群核科技开源空间理解模型SpatialLM，突破传统大模型对物理世界的空间认知局限</p>
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</div>
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</div>
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<div class="relative">
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<div class="timeline-dot"></div>
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<div class="bg-slate-800/50 rounded-xl p-4">
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<div class="flex items-center mb-2">
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<span class="bg-blue-500 text-white text-xs px-2 py-1 rounded mr-2">2025.04.23</span>
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<h3 class="text-lg font-semibold">香港特首交流</h3>
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</div>
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<p class="text-slate-300">香港特首李家超与"六小龙"企业代表交流，群核科技展示空间智能平台在智慧城市中的应用</p>
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</div>
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</div>
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</div>
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</div>
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<!-- 核心逻辑与市场认知分析 -->
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<div class="card-glass rounded-2xl p-6 mb-8 hover-scale">
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<div class="flex items-center mb-6">
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<div class="w-10 h-10 rounded-full bg-green-500 flex items-center justify-center mr-3">
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<i class="fas fa-chart-line text-white"></i>
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</div>
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<h2 class="text-2xl font-bold gradient-text">核心逻辑与市场认知分析</h2>
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</div>
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<div class="grid grid-cols-1 lg:grid-cols-2 gap-6">
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<div>
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<h3 class="text-xl font-semibold text-green-400 mb-4">核心驱动力</h3>
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<div class="space-y-3">
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<div class="flex items-start">
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<div class="bg-green-500/20 text-green-400 rounded-full w-6 h-6 flex items-center justify-center flex-shrink-0 mt-0.5 mr-3">
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<i class="fas fa-check text-xs"></i>
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</div>
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<p class="text-slate-300"><strong>技术突破</strong>：SpatialLM通过视频生成3D场景布局，降低具身智能训练数据成本90%</p>
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</div>
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<div class="flex items-start">
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<div class="bg-green-500/20 text-green-400 rounded-full w-6 h-6 flex items-center justify-center flex-shrink-0 mt-0.5 mr-3">
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<i class="fas fa-check text-xs"></i>
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</div>
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<p class="text-slate-300"><strong>政策背书</strong>：浙江省委书记王浩、省长刘捷多次公开支持"六小龙"</p>
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</div>
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<div class="flex items-start">
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<div class="bg-green-500/20 text-green-400 rounded-full w-6 h-6 flex items-center justify-center flex-shrink-0 mt-0.5 mr-3">
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<i class="fas fa-check text-xs"></i>
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</div>
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<p class="text-slate-300"><strong>资本催化</strong>：港交所上市将提升全球资金配置权重，类比商汤科技上市后的估值跃升</p>
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</div>
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</div>
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</div>
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<div>
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<h3 class="text-xl font-semibold text-green-400 mb-4">市场热度与情绪</h3>
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<div class="space-y-3">
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<div class="flex items-center justify-between bg-slate-800/30 rounded-lg p-3">
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<span class="text-slate-300">新闻热度</span>
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<span class="text-green-400 font-semibold">百度指数单日暴涨320%</span>
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</div>
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<div class="flex items-center justify-between bg-slate-800/30 rounded-lg p-3">
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<span class="text-slate-300">研报密集度</span>
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<span class="text-green-400 font-semibold">6家券商发布专题报告</span>
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</div>
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<div class="flex items-center justify-between bg-slate-800/30 rounded-lg p-3">
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<span class="text-slate-300">市场分歧</span>
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<span class="text-yellow-400 font-semibold">乐观派 vs 谨慎派</span>
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</div>
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</div>
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</div>
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</div>
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<div class="mt-6 bg-yellow-900/20 border-l-4 border-yellow-500 rounded-lg p-4">
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<h3 class="text-lg font-semibold text-yellow-400 mb-2">预期差分析</h3>
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<ul class="space-y-2 text-slate-300">
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<li>• <strong>市场忽略点</strong>：B端客户粘性（4.5万家企业客户）与SpatialVerse付费转化率未披露</li>
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<li>• <strong>竞争格局</strong>：NVIDIA Omniverse、Unity等巨头布局相似赛道，群核科技差异化在于"中文场景+家居数据"</li>
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</ul>
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</div>
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</div>
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<!-- 关键催化剂与未来发展路径 -->
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<div class="card-glass rounded-2xl p-6 mb-8 hover-scale">
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<div class="flex items-center mb-6">
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<div class="w-10 h-10 rounded-full bg-yellow-500 flex items-center justify-center mr-3">
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<i class="fas fa-rocket text-white"></i>
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</div>
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<h2 class="text-2xl font-bold gradient-text">关键催化剂与未来发展路径</h2>
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</div>
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<div class="grid grid-cols-1 md:grid-cols-2 gap-6">
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<div>
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<h3 class="text-xl font-semibold text-yellow-400 mb-4">近期催化剂（3-6个月）</h3>
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<div class="space-y-4">
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<div class="bg-slate-800/30 rounded-xl p-4">
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<div class="flex items-center mb-2">
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<div class="w-8 h-8 rounded-full bg-yellow-500/20 flex items-center justify-center mr-3">
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<i class="fas fa-gavel text-yellow-400 text-sm"></i>
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</div>
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<h4 class="font-semibold text-yellow-300">港交所聆讯结果</h4>
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</div>
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<p class="text-sm text-slate-300">若通过，港股科技股稀缺性溢价或推动估值对标商汤（PS 15-20倍）</p>
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</div>
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<div class="bg-slate-800/30 rounded-xl p-4">
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<div class="flex items-center mb-2">
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<div class="w-8 h-8 rounded-full bg-yellow-500/20 flex items-center justify-center mr-3">
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<i class="fas fa-code text-yellow-400 text-sm"></i>
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</div>
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<h4 class="font-semibold text-yellow-300">SpatialLM迭代</h4>
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</div>
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<p class="text-sm text-slate-300">计划2025年Q3推出自然语言交互版本，可能触发AI训练平台订单爆发</p>
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</div>
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<div class="bg-slate-800/30 rounded-xl p-4">
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<div class="flex items-center mb-2">
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<div class="w-8 h-8 rounded-full bg-yellow-500/20 flex items-center justify-center mr-3">
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<i class="fas fa-landmark text-yellow-400 text-sm"></i>
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</div>
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<h4 class="font-semibold text-yellow-300">政策落地</h4>
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</div>
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<p class="text-sm text-slate-300">浙江"人工智能+"行动细则出台，空间智能或纳入政府采购目录</p>
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</div>
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</div>
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</div>
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<div>
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<h3 class="text-xl font-semibold text-yellow-400 mb-4">长期发展路径</h3>
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<div class="space-y-4">
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<div class="flex items-start">
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<div class="bg-yellow-500 text-white rounded-full w-8 h-8 flex items-center justify-center flex-shrink-0 mr-3 mt-0.5">
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<span class="text-sm font-bold">1</span>
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</div>
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<div>
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<h4 class="font-semibold text-yellow-300 mb-1">阶段1（2025-2026）</h4>
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<p class="text-sm text-slate-300">上市融资后，SpatialVerse收入占比从<5%提升至20%</p>
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</div>
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</div>
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<div class="flex items-start">
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<div class="bg-yellow-500 text-white rounded-full w-8 h-8 flex items-center justify-center flex-shrink-0 mr-3 mt-0.5">
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<span class="text-sm font-bold">2</span>
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</div>
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<div>
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<h4 class="font-semibold text-yellow-300 mb-1">阶段2（2027-2028）</h4>
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<p class="text-sm text-slate-300">拓展工业机器人仿真（如与宇树科技合作），单客户合同规模或达百万级</p>
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</div>
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</div>
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<div class="flex items-start">
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<div class="bg-yellow-500 text-white rounded-full w-8 h-8 flex items-center justify-center flex-shrink-0 mr-3 mt-0.5">
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<span class="text-sm font-bold">3</span>
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</div>
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<div>
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<h4 class="font-semibold text-yellow-300 mb-1">阶段3（2029+）</h4>
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<p class="text-sm text-slate-300">成为空间智能OS，向Meta、苹果等AR/VR厂商授权，收入模式从SaaS转向License</p>
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</div>
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</div>
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</div>
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</div>
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</div>
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</div>
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<!-- 产业链与核心公司深度剖析 -->
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<div class="card-glass rounded-2xl p-6 mb-8 hover-scale">
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<div class="flex items-center mb-6">
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<div class="w-10 h-10 rounded-full bg-red-500 flex items-center justify-center mr-3">
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<i class="fas fa-network-wired text-white"></i>
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</div>
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<h2 class="text-2xl font-bold gradient-text">产业链与核心公司深度剖析</h2>
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</div>
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<div class="mb-6">
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<h3 class="text-xl font-semibold text-red-400 mb-4">产业链图谱</h3>
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<div class="grid grid-cols-1 md:grid-cols-3 gap-4">
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<div class="bg-slate-800/30 rounded-xl p-4 text-center">
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<h4 class="text-lg font-semibold text-red-300 mb-2">上游</h4>
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<p class="text-slate-300">GPU算力（英伟达/华为昇腾）<br>3D传感器（奥比中光）</p>
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</div>
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<div class="bg-slate-800/30 rounded-xl p-4 text-center">
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<h4 class="text-lg font-semibold text-red-300 mb-2">中游</h4>
|
||
<p class="text-slate-300">空间智能平台（群核科技）<br>AI大模型（DeepSeek）</p>
|
||
</div>
|
||
<div class="bg-slate-800/30 rounded-xl p-4 text-center">
|
||
<h4 class="text-lg font-semibold text-red-300 mb-2">下游</h4>
|
||
<p class="text-slate-300">家居品牌（欧派家居）<br>机器人厂商（宇树科技）<br>AR/VR内容商（丝路视觉）</p>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
|
||
<div class="mb-6">
|
||
<h3 class="text-xl font-semibold text-red-400 mb-4">核心玩家对比</h3>
|
||
<div class="overflow-x-auto">
|
||
<table class="w-full text-sm">
|
||
<thead>
|
||
<tr class="border-b border-slate-700">
|
||
<th class="text-left py-3 px-4 text-red-300">公司</th>
|
||
<th class="text-left py-3 px-4 text-red-300">业务关联</th>
|
||
<th class="text-left py-3 px-4 text-red-300">竞争优势</th>
|
||
<th class="text-left py-3 px-4 text-red-300">风险点</th>
|
||
</tr>
|
||
</thead>
|
||
<tbody>
|
||
<tr class="border-b border-slate-700/50">
|
||
<td class="py-3 px-4 font-semibold">群核科技</td>
|
||
<td class="py-3 px-4">空间智能平台+家居SaaS</td>
|
||
<td class="py-3 px-4">中文场景数据壁垒、港交所上市红利</td>
|
||
<td class="py-3 px-4">技术迭代不及NVIDIA</td>
|
||
</tr>
|
||
<tr class="border-b border-slate-700/50">
|
||
<td class="py-3 px-4 font-semibold">Unity</td>
|
||
<td class="py-3 px-4">3D引擎</td>
|
||
<td class="py-3 px-4">全球开发者生态</td>
|
||
<td class="py-3 px-4">中国本土化数据缺失</td>
|
||
</tr>
|
||
<tr>
|
||
<td class="py-3 px-4 font-semibold">虹软科技</td>
|
||
<td class="py-3 px-4">AR/VR算法</td>
|
||
<td class="py-3 px-4">移动端视觉算法龙头</td>
|
||
<td class="py-3 px-4">依赖手机客户，场景单一</td>
|
||
</tr>
|
||
</tbody>
|
||
</table>
|
||
</div>
|
||
</div>
|
||
|
||
<div>
|
||
<h3 class="text-xl font-semibold text-red-400 mb-4">关联股票数据</h3>
|
||
<div class="table-responsive">
|
||
<table class="w-full text-sm">
|
||
<thead>
|
||
<tr class="border-b border-slate-700">
|
||
<th class="text-left py-3 px-4 text-red-300">公司</th>
|
||
<th class="text-left py-3 px-4 text-red-300">合作/项目</th>
|
||
<th class="text-left py-3 px-4 text-red-300">产业链/间接参股</th>
|
||
<th class="text-left py-3 px-4 text-red-300">关联原因</th>
|
||
</tr>
|
||
</thead>
|
||
<tbody>
|
||
<tr class="border-b border-slate-700/50">
|
||
<td class="py-3 px-4 font-semibold">群核科技</td>
|
||
<td class="py-3 px-4">酷家乐</td>
|
||
<td class="py-3 px-4">顶固集创,皮阿诺,亚振家居,美克家居,箭牌家居,绿岛风,联翔股份</td>
|
||
<td class="py-3 px-4">群核科技旗下家居设计平台酷家乐的产业链上下游合作企业</td>
|
||
</tr>
|
||
<tr class="border-b border-slate-700/50">
|
||
<td class="py-3 px-4 font-semibold">深度求索</td>
|
||
<td class="py-3 px-4">合作</td>
|
||
<td class="py-3 px-4">杭钢股份,航锦科技,浙文互联,每日互动,安恒信息,创业慧康,思创医惠,兆龙互连,博创科技,当虹科技,税友股份</td>
|
||
<td class="py-3 px-4">深度求索在工业互联网、大数据等领域的合作企业</td>
|
||
</tr>
|
||
<tr class="border-b border-slate-700/50">
|
||
<td class="py-3 px-4 font-semibold">宇树科技</td>
|
||
<td class="py-3 px-4">合作</td>
|
||
<td class="py-3 px-4">长盛轴承,曼恩斯特,盛通股份,科大讯飞</td>
|
||
<td class="py-3 px-4">宇树科技在机器人领域的合作及间接投资企业</td>
|
||
</tr>
|
||
<tr class="border-b border-slate-700/50">
|
||
<td class="py-3 px-4 font-semibold">云深处</td>
|
||
<td class="py-3 px-4">合作</td>
|
||
<td class="py-3 px-4">科大智能,国茂股份,卧龙电驱,景业智能,中控技术</td>
|
||
<td class="py-3 px-4">云深处在智能装备、工业互联网等领域的合作及参股企业</td>
|
||
</tr>
|
||
<tr class="border-b border-slate-700/50">
|
||
<td class="py-3 px-4 font-semibold">强脑科技</td>
|
||
<td class="py-3 px-4">创新医疗</td>
|
||
<td class="py-3 px-4">三博脑科,南京熊猫</td>
|
||
<td class="py-3 px-4">强脑科技在医疗健康领域的合作企业</td>
|
||
</tr>
|
||
<tr class="border-b border-slate-700/50">
|
||
<td class="py-3 px-4 font-semibold">游戏科学</td>
|
||
<td class="py-3 px-4">浙版传媒</td>
|
||
<td class="py-3 px-4">电魂网络,完美世界,杭州高新</td>
|
||
<td class="py-3 px-4">游戏科学在游戏开发及出版领域的合作企业</td>
|
||
</tr>
|
||
<tr>
|
||
<td class="py-3 px-4 font-semibold">杭州</td>
|
||
<td class="py-3 px-4">算力</td>
|
||
<td class="py-3 px-4">浙大网新,浙文互联,顺网科技,华数传媒,平治信息,纵横通信,众合科技,杭钢股份</td>
|
||
<td class="py-3 px-4">杭州本地在算力、数据中心、云计算及创投领域的重点企业</td>
|
||
</tr>
|
||
</tbody>
|
||
</table>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
|
||
<!-- 潜在风险与挑战 -->
|
||
<div class="card-glass rounded-2xl p-6 mb-8 hover-scale">
|
||
<div class="flex items-center mb-6">
|
||
<div class="w-10 h-10 rounded-full bg-orange-500 flex items-center justify-center mr-3">
|
||
<i class="fas fa-exclamation-triangle text-white"></i>
|
||
</div>
|
||
<h2 class="text-2xl font-bold gradient-text">潜在风险与挑战</h2>
|
||
</div>
|
||
|
||
<div class="grid grid-cols-1 md:grid-cols-2 gap-6">
|
||
<div>
|
||
<h3 class="text-xl font-semibold text-orange-400 mb-4">技术风险</h3>
|
||
<div class="bg-orange-900/20 border-l-4 border-orange-500 rounded-lg p-4">
|
||
<p class="text-slate-300"><strong>SpatialLM精度</strong>：开源社区反馈复杂场景下3D布局误差>15%（GitHub Issue #47），可能影响工业机器人训练可靠性</p>
|
||
</div>
|
||
</div>
|
||
|
||
<div>
|
||
<h3 class="text-xl font-semibold text-orange-400 mb-4">商业化风险</h3>
|
||
<div class="bg-orange-900/20 border-l-4 border-orange-500 rounded-lg p-4">
|
||
<p class="text-slate-300"><strong>客户付费意愿</strong>：家居客户对AI训练平台预算有限，需验证大客户（如索菲亚）是否愿意为SpatialVerse单独付费</p>
|
||
</div>
|
||
</div>
|
||
|
||
<div>
|
||
<h3 class="text-xl font-semibold text-orange-400 mb-4">政策与竞争风险</h3>
|
||
<div class="bg-orange-900/20 border-l-4 border-orange-500 rounded-lg p-4">
|
||
<p class="text-slate-300"><strong>数据合规</strong>：空间数据涉及地理信息，若《数据跨境流动管理办法》收紧，海外客户拓展受阻</p>
|
||
</div>
|
||
</div>
|
||
|
||
<div>
|
||
<h3 class="text-xl font-semibold text-orange-400 mb-4">信息交叉验证风险</h3>
|
||
<div class="bg-orange-900/20 border-l-4 border-orange-500 rounded-lg p-4">
|
||
<p class="text-slate-300"><strong>收入结构矛盾</strong>：招股书显示90%收入来自酷家乐订阅，但路演强调"空间智能是核心"，需警惕业务重心漂移导致的资源分散</p>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
|
||
<!-- 综合结论与投资启示 -->
|
||
<div class="card-glass rounded-2xl p-6 hover-scale">
|
||
<div class="flex items-center mb-6">
|
||
<div class="w-10 h-10 rounded-full bg-indigo-500 flex items-center justify-center mr-3">
|
||
<i class="fas fa-trophy text-white"></i>
|
||
</div>
|
||
<h2 class="text-2xl font-bold gradient-text">综合结论与投资启示</h2>
|
||
</div>
|
||
|
||
<div class="space-y-6">
|
||
<div>
|
||
<h3 class="text-xl font-semibold text-indigo-400 mb-4">阶段判断</h3>
|
||
<div class="bg-indigo-900/20 border-l-4 border-indigo-500 rounded-lg p-4">
|
||
<p class="text-slate-300 mb-3">群核科技处于<strong>"主题炒作向基本面过渡"</strong>阶段：</p>
|
||
<ul class="space-y-2 text-slate-300">
|
||
<li>• <strong>短期</strong>：上市催化+开源模型热度，估值可能快速抬升（类比商汤2021年）</li>
|
||
<li>• <strong>长期</strong>：需验证SpatialVerse收入占比能否2年内突破10%，否则回归家居SaaS估值（PS 5-8倍）</li>
|
||
</ul>
|
||
</div>
|
||
</div>
|
||
|
||
<div>
|
||
<h3 class="text-xl font-semibold text-indigo-400 mb-4">投资方向</h3>
|
||
<div class="grid grid-cols-1 md:grid-cols-2 gap-4">
|
||
<div class="bg-slate-800/30 rounded-xl p-4">
|
||
<h4 class="font-semibold text-indigo-300 mb-2">高弹性标的</h4>
|
||
<p class="text-slate-300"><strong>群核科技（港股IPO）</strong>——博弈空间智能商业化突破</p>
|
||
</div>
|
||
<div class="bg-slate-800/30 rounded-xl p-4">
|
||
<h4 class="font-semibold text-indigo-300 mb-2">产业链铲子股</h4>
|
||
<p class="text-slate-300"><strong>奥比中光（3D传感器）</strong>、<strong>丝路视觉（AR内容）</strong>——受益于训练数据需求爆发</p>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
|
||
<div>
|
||
<h3 class="text-xl font-semibold text-indigo-400 mb-4">关键跟踪指标</h3>
|
||
<div class="space-y-3">
|
||
<div class="flex items-start">
|
||
<div class="bg-indigo-500 text-white rounded-full w-6 h-6 flex items-center justify-center flex-shrink-0 mr-3 mt-0.5">
|
||
<span class="text-xs">1</span>
|
||
</div>
|
||
<p class="text-slate-300"><strong>SpatialVerse客户数</strong>：2025年Q3财报是否披露付费客户>100家（当前未披露）</p>
|
||
</div>
|
||
<div class="flex items-start">
|
||
<div class="bg-indigo-500 text-white rounded-full w-6 h-6 flex items-center justify-center flex-shrink-0 mr-3 mt-0.5">
|
||
<span class="text-xs">2</span>
|
||
</div>
|
||
<p class="text-slate-300"><strong>单客户ARPU值</strong>：若大客户合同从10万元/年提升至50万元/年，则验证商业化拐点</p>
|
||
</div>
|
||
<div class="flex items-start">
|
||
<div class="bg-indigo-500 text-white rounded-full w-6 h-6 flex items-center justify-center flex-shrink-0 mr-3 mt-0.5">
|
||
<span class="text-xs">3</span>
|
||
</div>
|
||
<p class="text-slate-300"><strong>政策订单</strong>：浙江政府是否将空间智能纳入"千项万亿"工程采购清单（省长刘捷提及的2025年重点项目）</p>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
|
||
<script src="https://cdn.jsdelivr.net/npm/tsparticles@3/tsparticles.bundle.min.js"></script>
|
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<script>
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// 初始化粒子背景
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tsParticles.load("tsparticles", {
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|
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|
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|
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``` |