589 lines
44 KiB
HTML
589 lines
44 KiB
HTML
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<title>小米概念 - 深度行业研究报告</title>
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<!-- Header -->
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<header class="text-center py-12">
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<h1 class="font-sora text-5xl md:text-7xl font-bold text-white glow-text tracking-wider">小米概念</h1>
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<h2 class="font-sora text-2xl md:text-3xl font-light text-cyan-300 mt-2">Xiaomi Concept</h2>
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<p class="mt-6 text-gray-400 max-w-3xl mx-auto">
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北京价值前沿科技有限公司 AI投研agent：“价小前投研”进行投研呈现。本报告为AI合成数据，不构成投资建议，投资需谨慎。
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<main class="space-y-16">
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<section id="insight">
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<svg xmlns="http://www.w3.org/2000/svg" fill="none" viewBox="0 0 24 24" stroke-width="1.5" stroke="currentColor" class="icon"><path stroke-linecap="round" stroke-linejoin="round" d="M9.813 15.904 9 18.75l-.813-2.846a4.5 4.5 0 0 0-3.09-3.09L2.25 12l2.846-.813a4.5 4.5 0 0 0 3.09-3.09L9 5.25l.813 2.846a4.5 4.5 0 0 0 3.09 3.09L15.75 12l-2.846.813a4.5 4.5 0 0 0-3.09 3.09ZM18.259 8.715 18 9.75l-.259-1.035a3.375 3.375 0 0 0-2.455-2.456L14.25 6l1.036-.259a3.375 3.375 0 0 0 2.455-2.456L18 2.25l.259 1.035a3.375 3.375 0 0 0 2.456 2.456L21.75 6l-1.035.259a3.375 3.375 0 0 0-2.456 2.456Z" /></svg>
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<h3 class="font-sora">核心观点 & 市场洞察 (Insight)</h3>
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<div class="bento-grid">
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<div class="bento-item col-span-lg-12 glass-card p-6 md:p-8 glow-border">
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<h4 class="font-sora text-xl font-semibold text-cyan-300 mb-3">核心观点摘要</h4>
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<p class="text-gray-300 text-lg leading-relaxed">
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“小米概念”已从传统的消费电子生态链，全面升维为以<strong class="text-white">“人车家全生态”</strong>为核心战略、以<strong class="text-white">智能汽车</strong>为最大增长引擎、以<strong class="text-white">AI技术</strong>全面赋能的复合型科技概念。其核心驱动力在于小米将已在手机行业验证成功的品牌号召力、高效的供应链管理能力和庞大的用户基础，跨界复制到智能汽车和AI硬件这一更高价值、更高壁垒的赛道。当前，概念正处于从<strong class="text-cyan-400">“预期驱动”</strong>向<strong class="text-cyan-400">“业绩兑现”</strong>过渡的关键阶段，汽车业务的交付量和盈利能力将是决定其长期价值的核心变量。
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</p>
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</div>
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<div class="bento-item col-span-lg-8 glass-card p-6 md:p-8">
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<h4 class="font-sora text-xl font-semibold text-cyan-300 mb-3">核心逻辑：生态协同与价值链跃迁</h4>
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<ul class="space-y-4 text-gray-300">
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<li><strong><span class="text-white">1. 生态协同：</span></strong> 通过自研的<strong class="text-purple-300">澎湃OS</strong>系统，无缝连接全球超10亿台存量设备与汽车、AI眼镜等高价值终端。这种“人车家全生态”的联动体验是传统车企难以复制的护城河。路演数据显示，苹果用户占小米汽车业务比例近50%，证明其生态吸引力已成功破圈。</li>
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<li><strong><span class="text-white">2. 价值链跃迁：</span></strong> 从性价比手机、家电等低毛利硬件，向单品价值量和利润空间更高的智能汽车（ASP 23万元）和前沿AI硬件领域拓展。此举将彻底重塑小米的营收结构和盈利能力，带来估值体系的重构。</li>
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<li><strong><span class="text-white">3. 能力复用：</span></strong> 将过去积累的品牌营销能力（雷军IP）、用户社群运营、以及对供应链的极致成本控制能力，成功应用到汽车业务。小米SU7的现象级上市营销（研报广告预算超1.17亿）证明了其核心能力的可迁移性。</li>
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</ul>
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</div>
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<div class="bento-item col-span-lg-4 glass-card p-6 md:p-8">
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<h4 class="font-sora text-xl font-semibold text-cyan-300 mb-3">市场热度与情绪</h4>
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<p class="text-gray-300 mb-4">市场关注度极高，整体情绪偏向<strong class="text-green-400">乐观，但伴随分歧</strong>。</p>
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<ul class="space-y-3 text-sm">
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<li><span class="badge badge-info badge-outline">热度体现</span> 研报显示概念热度曾周内上升<strong class="text-white">568.95%</strong>。</li>
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<li><span class="badge badge-success badge-outline">乐观来源</span> SU7超预期订单（27分钟破5万）、持续破万的月交付量。</li>
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<li><span class="badge badge-warning badge-outline">分歧点</span> 对长期盈利能力、智驾安全性（SU7爆燃事件）及激烈竞争的担忧。</li>
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</ul>
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</div>
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<div class="bento-item col-span-lg-12 glass-card p-6 md:p-8">
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<h4 class="font-sora text-xl font-semibold text-cyan-300 mb-3">预期差分析：销量、盈利与安全</h4>
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<div class="grid grid-cols-1 md:grid-cols-3 gap-6">
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<div>
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<h5 class="font-semibold text-white mb-2">【销量预期差】</h5>
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<p class="text-gray-400">机构对2025年销量预测分歧显著：从公司口径的<strong class="text-purple-300">35万台</strong>，到东吴汽车的<strong class="text-purple-300">51.4万辆</strong>，再到因审批问题下调至<strong class="text-purple-300">40-41万辆</strong>。市场对产能爬坡能力未形成共识，实际交付数据是关键验证点。</p>
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</div>
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<div>
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<h5 class="font-semibold text-white mb-2">【盈利预期差】</h5>
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<p class="text-gray-400">路演描绘了毛利率快速提升的蓝图（Q4有望突破<strong class="text-green-400">20%</strong>），但SU7 Ultra定价从预售81.49万大幅降至<strong class="text-red-400">52.99万</strong>，暗示市场竞争残酷。市场可能低估了价格战对毛利率的侵蚀风险。</p>
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</div>
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<div>
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<h5 class="font-semibold text-white mb-2">【安全与品牌预期差】</h5>
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<p class="text-gray-400">当前叙事聚焦于“爆款销量”，但研报披露的<strong class="text-red-400">SU7严重事故</strong>揭示了智驾技术的安全挑战。公众对数据透明度、系统可靠性的质疑可能产生长期负面影响，这一点在当前热烈情绪中未被充分反映。</p>
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</div>
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</div>
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</div>
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<div class="bento-item col-span-lg-6 glass-card p-6 md:p-8">
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<h4 class="font-sora text-xl font-semibold text-cyan-300 mb-3">关键催化剂 & 发展路径</h4>
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<div x-data="{ tab: 'short' }" class="w-full">
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<div class="tabs tabs-boxed bg-black/20 mb-4">
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<a class="tab flex-1" :class="{ 'tab-active bg-cyan-500/50 text-white': tab === 'short' }" @click="tab = 'short'">近期催化剂 (3-6月)</a>
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<a class="tab flex-1" :class="{ 'tab-active bg-purple-500/50 text-white': tab === 'long' }" @click="tab = 'long'">长期发展路径</a>
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</div>
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<div x-show="tab === 'short'">
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<ul class="list-disc list-inside space-y-2 text-gray-300">
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<li><strong>小米YU7上市交付：</strong> 首款SUV，定价与订单表现将影响第二增长曲线判断。</li>
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<li><strong>城市NOA全国开通：</strong> 计划8月覆盖，检验小米智驾“后发优势”的试金石。</li>
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<li><strong>小米15系列 & 澎湃OS 2.0发布：</strong> 展示“人车家全生态”的智能化进展。</li>
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<li><strong>Q3/Q4交付量与财报：</strong> 汽车业务毛利率将是验证商业模式最直接的证据。</li>
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</ul>
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</div>
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<div x-show="tab === 'long'" style="display: none;">
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<ol class="list-decimal list-inside space-y-2 text-gray-300">
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<li><strong>第一阶段 (2024-2025)：</strong> 产品矩阵构建与产能爬坡，实现年产销30-40万辆规模。</li>
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<li><strong>第二阶段 (2025-2027)：</strong> 生态深度融合与AI全面落地，AI眼镜等新终端量产，澎湃OS向AIOS转型。</li>
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<li><strong>第三阶段 (2028-2030)：</strong> 全球化扩张与技术领导力确立，汽车出海，人形机器人等领域形成技术壁垒。</li>
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</ol>
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</div>
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</div>
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</div>
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<div class="bento-item col-span-lg-6 glass-card p-6 md:p-8">
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<h4 class="font-sora text-xl font-semibold text-cyan-300 mb-3">潜在风险与挑战</h4>
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<ul class="space-y-3">
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<li><strong class="text-red-400">技术风险：</strong> 智能驾驶安全（SU7爆燃事故警示），AI云端算力（6000张GPU）与头部厂商存在差距。</li>
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<li><strong class="text-yellow-400">商业化风险：</strong> 产能与交付（二期工厂审批问题），激烈价格战下的盈利压力。</li>
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<li><strong class="text-orange-400">竞争与政策风险：</strong> 新能源车市进入“淘汰赛”，智驾、数据安全等法规政策变动。</li>
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<li><strong class="text-blue-400">信息交叉验证风险：</strong> 销量目标、定价策略、乐观叙事与安全事故之间存在矛盾，需审慎评估。</li>
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</ul>
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</div>
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</div>
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</section>
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<!-- Data Sources -->
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<section id="datasources" x-data="{ tab: 'news' }">
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<div class="section-title">
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<svg xmlns="http://www.w3.org/2000/svg" fill="none" viewBox="0 0 24 24" stroke-width="1.5" stroke="currentColor" class="icon"><path stroke-linecap="round" stroke-linejoin="round" d="M3.375 19.5h17.25m-17.25 0a1.125 1.125 0 0 1-1.125-1.125M3.375 19.5h1.5C5.496 19.5 6 18.996 6 18.375V8.25m0 0a3 3 0 1 0 0-6 3 3 0 0 0 0 6Zm0 0a3 3 0 1 0 0-6 3 3 0 0 0 0 6Zm0 0h6.168c.243 0 .482.028.715.082m-6.883 0a3.375 3.375 0 0 1-3.375-3.375V5.625m17.25 0h-1.5a.625.625 0 0 0-.625.625v3.375c0 .51-.123.993-.353 1.437m-15.023 0L6 10.5m0 0v5.25m0 0a1.125 1.125 0 0 0 1.125 1.125h1.5m-2.625 0a1.125 1.125 0 0 1-1.125-1.125m1.125 1.125a1.125 1.125 0 0 0 1.125-1.125M12 8.25m0 0a3 3 0 1 0 0-6 3 3 0 0 0 0 6Zm0 0v.082m0 0a3.375 3.375 0 0 0 3.375 3.375h1.474c.38 0 .74-.067 1.084-.195m-5.933 0a3.375 3.375 0 0 1-3.375-3.375M12 8.25a3.375 3.375 0 0 0-3.375-3.375M12 8.25m9 3.75a3 3 0 1 0 0-6 3 3 0 0 0 0 6Zm0 0v.082m0 0a3.375 3.375 0 0 1-3.375 3.375h-1.5a1.125 1.125 0 0 1-1.125-1.125V12m0 0a1.125 1.125 0 0 0-1.125-1.125H9.375m11.625 0a1.125 1.125 0 0 0-1.125-1.125h-1.5a1.125 1.125 0 0 0-1.125 1.125V12m2.625 0a1.125 1.125 0 0 1 1.125 1.125v5.625a1.125 1.125 0 0 1-1.125 1.125m-17.25 0a1.125 1.125 0 0 0 1.125 1.125h17.25a1.125 1.125 0 0 0 1.125-1.125" /></svg>
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<h3 class="font-sora">核心数据源摘要</h3>
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</div>
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<div class="tabs tabs-boxed bg-black/30 mb-6">
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<a class="tab tab-lg flex-1" :class="{ 'tab-active !bg-cyan-600 !text-white': tab === 'news' }" @click="tab = 'news'">新闻数据</a>
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<a class="tab tab-lg flex-1" :class="{ 'tab-active !bg-purple-600 !text-white': tab === 'roadshow' }" @click="tab = 'roadshow'">路演纪要</a>
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<a class="tab tab-lg flex-1" :class="{ 'tab-active !bg-indigo-600 !text-white': tab === 'report' }" @click="tab = 'report'">研究报告</a>
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</div>
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<div class="glass-card p-6 md:p-8 min-h-[300px]">
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<div x-show="tab === 'news'">
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<h4 class="text-xl font-bold mb-4 text-cyan-300">新闻数据精炼</h4>
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||
<ul class="list-disc list-inside space-y-2 text-gray-300">
|
||
<li><strong>小米汽车:</strong> SU7 Ultra定价52.99万，较预售价大幅降低；首款SUV YU7发布，定位豪华高性能；SU7月交付量连续破万，全年目标有望提前完成。</li>
|
||
<li><strong>供应链:</strong> 沃特股份成为手机+汽车碳纤维双料供应商；精进电动供应后驱电机；多家A股公司因小米汽车概念股大涨。</li>
|
||
<li><strong>AI 眼镜:</strong> 全新小米AI眼镜发布，定价1999元起，定位类似Meta雷朋；五方光电通过投资至格科技切入核心光学模组。</li>
|
||
<li><strong>AI 大模型:</strong> 发布推理大模型MiMo-7B，在数学和代码能力上表现优异；AI将全面赋能手机、穿戴、家居等AIoT场景。</li>
|
||
<li><strong>生态战略:</strong> 小米战略升级为“人车家全生态”，雷军表示愿意开放生态与同行合作。</li>
|
||
</ul>
|
||
</div>
|
||
<div x-show="tab === 'roadshow'" style="display: none;">
|
||
<h4 class="text-xl font-bold mb-4 text-purple-300">路演纪要精炼</h4>
|
||
<ul class="list-disc list-inside space-y-2 text-gray-300">
|
||
<li><strong>核心战略:</strong> 由“手机×AIoT”升级为“人车家全生态”，SU7完成生态最后一块拼图。</li>
|
||
<li><strong>财务表现:</strong> 2024年总收入3,659亿元（+35%），经调整净利润272亿元（+41%）；汽车业务毛利率超预期。</li>
|
||
<li><strong>汽车业务:</strong> 2024年完成交付13.69万台，2025年目标35万台；第二款车SUV YU7预计2025 Q2推出。</li>
|
||
<li><strong>新兴业务:</strong> AI大模型团队超3000人；人形机器人定位超级终端；AI智能眼镜预计2025年6月量产，目标销量30-50万台。</li>
|
||
<li><strong>核心供应商:</strong> 拓普集团（空悬/热管理，单车价值7k-1w）、无锡振华（结构件，深度绑定）、德赛西威（智驾域控，单车价值1w）。</li>
|
||
</ul>
|
||
</div>
|
||
<div x-show="tab === 'report'" style="display: none;">
|
||
<h4 class="text-xl font-bold mb-4 text-indigo-300">研究报告精炼</h4>
|
||
<ul class="list-disc list-inside space-y-2 text-gray-300">
|
||
<li><strong>市场热度:</strong> 小米汽车概念热度曾上升568.95%，位居周热度上升榜首。</li>
|
||
<li><strong>战略定位:</strong> AI全面赋能“人车家全生态”，该生态被视为长期估值溢价的重要来源。</li>
|
||
<li><strong>汽车营销:</strong> SU7上市采用创始人IP、社交媒体、事件营销等复合策略，广告预算超1.17亿，实现27分钟大定5万台的“出圈”效应。</li>
|
||
<li><strong>风险事件:</strong> 报告披露了2025年3月29日一起SU7在NOA状态下发生严重交通事故后爆燃的事件，引发公众对智驾安全性的高度质疑。</li>
|
||
<li><strong>核心技术:</strong> 澎湃OS 2.0系统打通设备互联，自研底层技术；电驱、电池、大压铸、智驾、座舱五大核心技术自研。</li>
|
||
</ul>
|
||
</div>
|
||
</div>
|
||
</section>
|
||
|
||
<!-- ECharts Visualization -->
|
||
<section id="echarts-viz">
|
||
<div class="section-title">
|
||
<svg xmlns="http://www.w3.org/2000/svg" fill="none" viewBox="0 0 24 24" stroke-width="1.5" stroke="currentColor" class="icon"><path stroke-linecap="round" stroke-linejoin="round" d="M3.75 6A2.25 2.25 0 0 1 6 3.75h2.25A2.25 2.25 0 0 1 10.5 6v2.25a2.25 2.25 0 0 1-2.25 2.25H6a2.25 2.25 0 0 1-2.25-2.25V6ZM3.75 15.75A2.25 2.25 0 0 1 6 13.5h2.25a2.25 2.25 0 0 1 2.25 2.25V18a2.25 2.25 0 0 1-2.25 2.25H6A2.25 2.25 0 0 1 3.75 18v-2.25ZM13.5 6a2.25 2.25 0 0 1 2.25-2.25H18A2.25 2.25 0 0 1 20.25 6v2.25A2.25 2.25 0 0 1 18 10.5h-2.25a2.25 2.25 0 0 1-2.25-2.25V6ZM13.5 15.75a2.25 2.25 0 0 1 2.25-2.25H18a2.25 2.25 0 0 1 2.25 2.25V18A2.25 2.25 0 0 1 18 20.25h-2.25A2.25 2.25 0 0 1 13.5 18v-2.25Z" /></svg>
|
||
<h3 class="font-sora">产业链图谱可视化</h3>
|
||
</div>
|
||
<div class="glass-card p-4 md:p-6">
|
||
<div id="supplier-treemap" style="width: 100%; height: 600px;"></div>
|
||
</div>
|
||
</section>
|
||
|
||
|
||
<!-- Stock Data Tables -->
|
||
<section id="stock-data">
|
||
<div class="section-title">
|
||
<svg xmlns="http://www.w3.org/2000/svg" fill="none" viewBox="0 0 24 24" stroke-width="1.5" stroke="currentColor" class="icon"><path stroke-linecap="round" stroke-linejoin="round" d="M9 17.25v1.007a3 3 0 0 1-.879 2.122L7.5 21h9l-.621-.621A3 3 0 0 1 15 18.257V17.25m6-12V15a2.25 2.25 0 0 1-2.25 2.25H5.25A2.25 2.25 0 0 1 3 15V5.25A2.25 2.25 0 0 1 5.25 3h13.5A2.25 2.25 0 0 1 21 5.25Z" /></svg>
|
||
<h3 class="font-sora">相关概念股 & 供应链分析</h3>
|
||
</div>
|
||
|
||
<!-- Auto Suppliers -->
|
||
<div class="glass-card p-6 md:p-8 mb-8">
|
||
<h4 class="font-sora text-xl font-semibold text-cyan-300 mb-4">小米汽车核心供应链</h4>
|
||
<div class="overflow-x-auto">
|
||
<table class="table table-zebra w-full">
|
||
<thead>
|
||
<tr>
|
||
<th>公司名称</th>
|
||
<th>供应产品/理由</th>
|
||
<th>单车价值量(元)</th>
|
||
<th>营收弹性/占比</th>
|
||
<th>配套份额</th>
|
||
</tr>
|
||
</thead>
|
||
<tbody>
|
||
<tr><td><a href='https://valuefrontier.cn/company?scode=002920' target='_blank' class='link link-hover text-cyan-400'>德赛西威</a></td><td>ADAS+座舱域控 / 智能驾驶及座舱</td><td>7000-11000</td><td>5.4% (相对23年营收)</td><td>100%</td></tr>
|
||
<tr><td><a href='https://valuefrontier.cn/company?scode=601689' target='_blank' class='link link-hover text-cyan-400'>拓普集团</a></td><td>底盘、空悬、座舱等</td><td>7000</td><td>3.4% (相对23年营收)</td><td>100%</td></tr>
|
||
<tr><td><a href='https://valuefrontier.cn/company?scode=605319' target='_blank' class='link link-hover text-cyan-400'>无锡振华</a></td><td>车身冲压件、分拼总成 / 白车身冲压件</td><td>1500-2300</td><td>10.3% (相对23年营收)</td><td>100%</td></tr>
|
||
<tr><td><a href='https://valuefrontier.cn/company?scode=688326' target='_blank' class='link link-hover text-cyan-400'>经纬恒润</a></td><td>ZCU、CCU / 区域域控+其他域控</td><td>3000-3500</td><td>6.5% (相对23年营收)</td><td>100%</td></tr>
|
||
<tr><td><a href='https://valuefrontier.cn/company?scode=000700' target='_blank' class='link link-hover text-cyan-400'>模塑科技</a></td><td>焊接风道、侧风道装饰、后保装饰等 / 保险杠</td><td>1500-3000</td><td>1.7% (相对23年营收)</td><td>100%</td></tr>
|
||
<tr><td><a href='https://valuefrontier.cn/company?scode=603997' target='_blank' class='link link-hover text-cyan-400'>继峰股份</a></td><td>冰箱、扶手、中控等</td><td>1800-3000</td><td>1.4% (相对23年营收)</td><td>100%</td></tr>
|
||
<tr><td><a href='https://valuefrontier.cn/company?scode=300680' target='_blank' class='link link-hover text-cyan-400'>隆盛科技</a></td><td>马达铁芯 / 高转速电机铁芯</td><td>350-800</td><td>2.0%-2.5% (相对23年营收)</td><td>100%</td></tr>
|
||
<tr><td><a href='https://valuefrontier.cn/company?scode=002126' target='_blank' class='link link-hover text-cyan-400'>银轮股份</a></td><td>前端模块、电池冷板等 / 热管理前端模块</td><td>1000-1300</td><td>1.2% (相对23年营收)</td><td>100%</td></tr>
|
||
<tr><td><a href='https://valuefrontier.cn/company?scode=603179' target='_blank' class='link link-hover text-cyan-400'>新泉股份</a></td><td>门板</td><td>600-800</td><td>0.4% (25E收入占比)</td><td>100%</td></tr>
|
||
<tr><td><a href='https://valuefrontier.cn/company?scode=603035' target='_blank' class='link link-hover text-cyan-400'>常熟汽饰</a></td><td>智能座舱内饰件，集成主动升降尾翼 / 立柱护板</td><td>1000</td><td>1.4% (24E收入占比)</td><td>100%</td></tr>
|
||
<tr><td><a href='https://valuefrontier.cn/company?scode=300375' target='_blank' class='link link-hover text-cyan-400'>鹏翎股份</a></td><td>汽车流体管路及总成 / 橡胶管路</td><td>500-1000</td><td>3.3% (24E收入占比)</td><td>100%</td></tr>
|
||
<tr><td><a href='https://valuefrontier.cn/company?scode=301307' target='_blank' class='link link-hover text-cyan-400'>美利信</a></td><td>三电类结构件</td><td>1500-1800</td><td>3.2% (24E收入占比)</td><td>100%</td></tr>
|
||
<tr><td><a href='https://valuefrontier.cn/company?scode=002906' target='_blank' class='link link-hover text-cyan-400'>华阳集团</a></td><td>HUD抬头显示 / 仪表</td><td>1000-2000</td><td>1.4% (24E收入占比)</td><td>100%</td></tr>
|
||
<tr><td><a href='https://valuefrontier.cn/company?scode=603197' target='_blank' class='link link-hover text-cyan-400'>保隆科技</a></td><td>储气罐、TPMS</td><td>300-400</td><td>0.7% (相对23年营收)</td><td>100%</td></tr>
|
||
<tr><td><a href='https://valuefrontier.cn/company?scode=300258' target='_blank' class='link link-hover text-cyan-400'>精锻科技</a></td><td>差速器总成</td><td>200-300</td><td>1.1% (相对23年营收)</td><td>100%</td></tr>
|
||
<tr><td><a href='https://valuefrontier.cn/company?scode=603348' target='_blank' class='link link-hover text-cyan-400'>文灿股份</a></td><td>9000T压铸机量产中底板</td><td>-</td><td>-</td><td>-</td></tr>
|
||
<tr><td><a href='https://valuefrontier.cn/company?scode=300750' target='_blank' class='link link-hover text-cyan-400'>宁德时代</a></td><td>麒麟电池包</td><td>-</td><td>-</td><td>-</td></tr>
|
||
<tr><td><a href='https://valuefrontier.cn/company?scode=300124' target='_blank' class='link link-hover text-cyan-400'>汇川技术</a></td><td>联合研发21000rpm V6s电机</td><td>-</td><td>-</td><td>-</td></tr>
|
||
<tr><td><a href='https://valuefrontier.cn/company?scode=603501' target='_blank' class='link link-hover text-cyan-400'>韦尔股份</a></td><td>CIS传感器</td><td>>2000</td><td>-</td><td>-</td></tr>
|
||
</tbody>
|
||
</table>
|
||
</div>
|
||
</div>
|
||
|
||
<!-- AI Glasses & Smartphone Suppliers -->
|
||
<div class="grid grid-cols-1 lg:grid-cols-2 gap-8 mb-8">
|
||
<div class="glass-card p-6 md:p-8">
|
||
<h4 class="font-sora text-xl font-semibold text-purple-300 mb-4">小米AI眼镜供应链</h4>
|
||
<div class="overflow-x-auto">
|
||
<table class="table w-full">
|
||
<thead>
|
||
<tr>
|
||
<th>公司名称</th>
|
||
<th>环节</th>
|
||
<th>关联理由</th>
|
||
</tr>
|
||
</thead>
|
||
<tbody>
|
||
<tr><td><a href='https://valuefrontier.cn/company?scode=002241' target='_blank' class='link link-hover text-purple-400'>歌尔股份</a></td><td>代工</td><td>关联度第一，AI眼镜代工</td></tr>
|
||
<tr><td><a href='https://valuefrontier.cn/company?scode=603773' target='_blank' class='link link-hover text-purple-400'>沃格光电</a></td><td>电致变玻璃</td><td>关联度第一，公司具备电致变色技术</td></tr>
|
||
<tr><td><a href='https://valuefrontier.cn/company?scode=688525' target='_blank' class='link link-hover text-purple-400'>佰维存储</a></td><td>存储</td><td>曾为Meta智能眼镜供货</td></tr>
|
||
<tr><td><a href='https://valuefrontier.cn/company?scode=301101' target='_blank' class='link link-hover text-purple-400'>明月镜片</a></td><td>镜片</td><td>与小米的合作正在有序推进中</td></tr>
|
||
<tr><td><a href='https://valuefrontier.cn/company?scode=000049' target='_blank' class='link link-hover text-purple-400'>德赛电池</a></td><td>电池</td><td>关联度第一，潜在电池供应商</td></tr>
|
||
<tr><td><a href='https://valuefrontier.cn/company?scode=301121' target='_blank' class='link link-hover text-purple-400'>紫建电子</a></td><td>电池</td><td>关联度第二，方形电池可应用AR/VR眼镜</td></tr>
|
||
</tbody>
|
||
</table>
|
||
</div>
|
||
</div>
|
||
<div class="glass-card p-6 md:p-8">
|
||
<h4 class="font-sora text-xl font-semibold text-indigo-300 mb-4">小米手机核心供应链 (部分)</h4>
|
||
<div class="overflow-x-auto">
|
||
<table class="table w-full">
|
||
<thead>
|
||
<tr>
|
||
<th>公司名称</th>
|
||
<th>环节</th>
|
||
</tr>
|
||
</thead>
|
||
<tbody>
|
||
<tr><td><a href='https://valuefrontier.cn/company?scode=300433' target='_blank' class='link link-hover text-indigo-400'>蓝思科技</a></td><td>屏幕-玻璃</td></tr>
|
||
<tr><td><a href='https://valuefrontier.cn/company?scode=002456' target='_blank' class='link link-hover text-indigo-400'>欧菲光</a></td><td>触摸屏/摄像头模组</td></tr>
|
||
<tr><td><a href='https://valuefrontier.cn/company?scode=600745' target='_blank' class='link link-hover text-indigo-400'>闻泰科技</a></td><td>研发制造ODM</td></tr>
|
||
<tr><td><a href='https://valuefrontier.cn/company?scode=300207' target='_blank' class='link link-hover text-indigo-400'>欣旺达</a></td><td>电池</td></tr>
|
||
<tr><td><a href='https://valuefrontier.cn/company?scode=002138' target='_blank' class='link link-hover text-indigo-400'>顺络电子</a></td><td>电路板/感应器</td></tr>
|
||
<tr><td><a href='https://valuefrontier.cn/company?scode=601138' target='_blank' class='link link-hover text-indigo-400'>工业富联</a></td><td>研发制造OEM</td></tr>
|
||
</tbody>
|
||
</table>
|
||
</div>
|
||
</div>
|
||
</div>
|
||
|
||
<!-- Rise Analysis -->
|
||
<div class="glass-card p-6 md:p-8">
|
||
<h4 class="font-sora text-xl font-semibold text-green-300 mb-4">相关个股异动分析</h4>
|
||
<div class="overflow-x-auto">
|
||
<table class="table w-full">
|
||
<thead>
|
||
<tr>
|
||
<th>股票</th>
|
||
<th>日期</th>
|
||
<th>涨幅</th>
|
||
<th>核心原因分析</th>
|
||
</tr>
|
||
</thead>
|
||
<tbody>
|
||
<tr>
|
||
<td><a href='https://valuefrontier.cn/company?scode=301022' target='_blank' class='link link-hover text-cyan-400'>海泰科</a></td><td>2025-06-24</td><td class='text-error'>+14.56%</td>
|
||
<td><div class='prose prose-sm text-gray-300'><strong>核心催化剂：小米YU7即将发布。</strong><br/>
|
||
1. <strong>供应链关系明确</strong>：小米汽车的模具核心供应商。<br/>
|
||
2. <strong>历史表现可期</strong>：此前SU7发布后，股价最大涨幅达72.8%。市场有类似上涨预期。<br/>
|
||
3. <strong>板块效应</strong>：小米汽车概念板块整体走强带动。</div></td>
|
||
</tr>
|
||
<tr>
|
||
<td><a href='https://valuefrontier.cn/company?scode=300853' target='_blank' class='link link-hover text-cyan-400'>申昊科技</a></td><td>2025-06-24</td><td class='text-error'>+10.70%</td>
|
||
<td><div class='prose prose-sm text-gray-300'><strong>核心驱动：AI眼镜概念+多重概念叠加。</strong><br/>
|
||
1. <strong>小米AI眼镜发布预期</strong>：市场预期公司可能与小米AI眼镜有技术合作，尤其在警用安防领域。<br/>
|
||
2. <strong>多重概念</strong>：同时涉及电力安全、机器人（机器狗）、海洋装备、军工等多个热门概念，形成共振效应。</div></td>
|
||
</tr>
|
||
<tr>
|
||
<td><a href='https://valuefrontier.cn/company?scode=603215' target='_blank' class='link link-hover text-cyan-400'>比依股份</a></td><td>2025-06-18</td><td class='text-error'>+9.99%</td>
|
||
<td><div class='prose prose-sm text-gray-300'><strong>核心驱动：AI眼镜概念爆发，特别是光波导技术。</strong><br/>
|
||
1. <strong>小米AI眼镜预期</strong>：公司被市场认为是小米AI眼镜光波导技术潜在供应商。<br/>
|
||
2. <strong>技术优势</strong>：光波导组件在AI眼镜中成本占比高，公司在该领域具备量产能力。<br/>
|
||
3. <strong>小米生态链企业</strong>身份，合作关系深度。</div></td>
|
||
</tr>
|
||
<tr>
|
||
<td><a href='https://valuefrontier.cn/company?scode=300432' target='_blank' class='link link-hover text-cyan-400'>富临精工</a></td><td>2025-06-24</td><td class='text-error'>+8.44%</td>
|
||
<td><div class='prose prose-sm text-gray-300'><strong>核心驱动：小米汽车供应链+固态电池概念。</strong><br/>
|
||
1. <strong>小米供应商地位确认</strong>：为小米YU7提供高压密磷酸铁锂，并供应电驱动减速器。<br/>
|
||
2. <strong>固态电池概念发酵</strong>：公司在固态电池领域已有布局，受益于行业热度。</div></td>
|
||
</tr>
|
||
<tr>
|
||
<td><a href='https://valuefrontier.cn/company?scode=002590' target='_blank' class='link link-hover text-cyan-400'>万安科技</a></td><td>2025-06-24</td><td class='text-error'>+5.64%</td>
|
||
<td><div class='prose prose-sm text-gray-300'><strong>核心驱动：小米汽车概念与AEBS业务进展。</strong><br/>
|
||
1. <strong>小米YU7发布预期</strong>：作为小米“龙头供应商”，提供底盘、EPB、AEBS等核心产品，单车价值量高（1.2-1.6万元）。<br/>
|
||
2. <strong>AEBS业务进展</strong>：市场预期订单（后被证实），AEBS作为智驾核心安全技术，价值高。</div></td>
|
||
</tr>
|
||
</tbody>
|
||
</table>
|
||
</div>
|
||
</div>
|
||
|
||
</section>
|
||
</main>
|
||
|
||
<!-- Footer -->
|
||
<footer class="text-center py-8 mt-12 border-t border-white/10">
|
||
<p class="text-gray-500 text-sm">
|
||
报告生成于: <span id="generation-date"></span><br>
|
||
北京价值前沿科技有限公司 | AI驱动的投资研究<br>
|
||
本报告内容由人工智能基于公开信息分析合成，不代表任何投资建议，市场有风险，投资需谨慎。
|
||
</p>
|
||
</footer>
|
||
</div>
|
||
|
||
<script>
|
||
document.addEventListener('DOMContentLoaded', function () {
|
||
// Set generation date
|
||
document.getElementById('generation-date').textContent = new Date().toLocaleString('zh-CN');
|
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|
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// ECharts Treemap Initialization
|
||
var chartDom = document.getElementById('supplier-treemap');
|
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var myChart = echarts.init(chartDom, 'dark');
|
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var option;
|
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|
||
const data = [
|
||
{
|
||
name: '智能驾驶与座舱 (ADAS & Cockpit)',
|
||
value: 20000,
|
||
children: [
|
||
{ name: '德赛西威', value: 11000, itemStyle: { color: '#00BFFF' } },
|
||
{ name: '经纬恒润', value: 3500, itemStyle: { color: '#87CEEB' } },
|
||
{ name: '华阳集团', value: 1500, itemStyle: { color: '#ADD8E6' } },
|
||
{ name: '韦尔股份', value: 2000, itemStyle: { color: '#4682B4' } },
|
||
{ name: '歌尔股份', value: 2000, itemStyle: { color: '#B0C4DE' } }
|
||
]
|
||
},
|
||
{
|
||
name: '车身与内外饰 (Body & Trim)',
|
||
value: 15000,
|
||
children: [
|
||
{ name: '模塑科技', value: 3000, itemStyle: { color: '#BA55D3' } },
|
||
{ name: '无锡振华', value: 2300, itemStyle: { color: '#9932CC' } },
|
||
{ name: '继峰股份', value: 3000, itemStyle: { color: '#9400D3' } },
|
||
{ name: '新泉股份', value: 800, itemStyle: { color: '#8A2BE2' } },
|
||
{ name: '常熟汽饰', value: 1000, itemStyle: { color: '#DA70D6' } },
|
||
{ name: '文灿股份', value: 2000, itemStyle: { color: '#DDA0DD' } },
|
||
{ name: '鹏翎股份', value: 1000, itemStyle: { color: '#EE82EE' } },
|
||
{ name: '美利信', value: 1800, itemStyle: { color: '#FF00FF' } }
|
||
]
|
||
},
|
||
{
|
||
name: '三电系统 (Powertrain & Battery)',
|
||
value: 12000,
|
||
children: [
|
||
{ name: '拓普集团', value: 7000, itemStyle: { color: '#32CD32' } },
|
||
{ name: '隆盛科技', value: 800, itemStyle: { color: '#00FF00' } },
|
||
{ name: '银轮股份', value: 1300, itemStyle: { color: '#7CFC00' } },
|
||
{ name: '宁德时代', value: 1500, itemStyle: { color: '#ADFF2F' } }, // Value is illustrative
|
||
{ name: '汇川技术', value: 1000, itemStyle: { color: '#008000' } },
|
||
{ name: '精进电动', value: 400, itemStyle: { color: '#228B22' } }
|
||
]
|
||
},
|
||
{
|
||
name: '底盘与电子 (Chassis & Electronics)',
|
||
value: 8000,
|
||
children: [
|
||
{ name: '保隆科技', value: 400, itemStyle: { color: '#FFD700' } },
|
||
{ name: '精锻科技', value: 250, itemStyle: { color: '#FFFF00' } },
|
||
{ name: '双环传动', value: 750, itemStyle: { color: '#F0E68C' } },
|
||
{ name: '扬杰科技', value: 150, itemStyle: { color: '#BDB76B' } },
|
||
{ name: '珠海冠宇', value: 500, itemStyle: { color: '#EEE8AA' } }
|
||
]
|
||
}
|
||
];
|
||
|
||
option = {
|
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backgroundColor: 'transparent',
|
||
title: {
|
||
text: '小米汽车供应链单车价值量(ASP)分布',
|
||
subtext: '数据基于公开信息估算，仅供参考',
|
||
left: 'center',
|
||
textStyle: { color: '#fff', fontFamily: 'Sora' },
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subtextStyle: { color: '#aaa' }
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tooltip: {
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formatter: function (info) {
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var value = info.value;
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var treePathInfo = info.treePathInfo;
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var treePath = [];
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for (var i = 1; i < treePathInfo.length; i++) {
|
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treePath.push(treePathInfo[i].name);
|
||
}
|
||
return [
|
||
'<div class="tooltip-title">' + treePath.join(' - ') + '</div>',
|
||
'单车价值量 (估算): ' + echarts.format.addCommas(value) + ' 元'
|
||
].join('');
|
||
}
|
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},
|
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series: [{
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type: 'treemap',
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data: data,
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visibleMin: 300,
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label: {
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show: true,
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formatter: '{b}',
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color: '#fff',
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fontSize: 14,
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},
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|
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borderColor: '#333',
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|
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|
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{
|
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|
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|
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borderWidth: 2,
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|
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itemStyle: {
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borderColor: '#ddd'
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}
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}]
|
||
};
|
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|
||
myChart.setOption(option);
|
||
window.addEventListener('resize', myChart.resize);
|
||
});
|
||
</script>
|
||
|
||
</body>
|
||
</html> |