24518244662125130131133134135190 20262 13 H1617 1913301 2022-2427-3110020 1 131 2920 156A 108 18 https://www.51world.com.cn 06651 14 202512 31202412 31 2025202412 31 2025 AI 20251206651.HKAI 3DAI •(World Spatial Model)3D(3DGS)AIGCAI•(Simulation Training Platform)(Sim-to-Real)•(Synthetic Data Fuel)(E2E)(Ground Truth)AI 51Aes51Sim •51Sim51Sim202551Sim53.5%51Sim55%60%100% •51Aes51Aes51GIM51AesClonovaAI+PCG•51Earth51EarthClonovaAperdataAI51Aes51Sim AI AI NativeAIAI •AI50AIClaude Code(VLM)86%AI•AIGISVLM10380%•10%AI 51Aes 51Aes 51Aes51GIM 51CIM LLM 51WIM 51WIM 51GIM 51GIM2025 51Sim 202551Sim 51SimMercedes-BenzHyundai Motor Company 51Sim 51Sim3DGS4DGS 51SimLiDARAAAI(Association for theAdvancement of Artificial Intelligence) 2026AAAI20262.317.6% L3 51Sim 202551Sim 51Earth 51Earth2025ClonovaAperdata Clonova 2025Clonova(Spatial Intelligence)LLM AIAIClonovaAI Aperdata Aperdata AperdataSim-to-Real 2026AI AIAI AIAI 2026AIAI 51SimL3 202651Sim51SimAI(Physical AI Factory) 51SimAI 51Aes+ 51Aes2026 •51AesGPU•Clonova51AesAIAPISaaS•2026ClonovaAPIWDP 2026AI 202512 31202412 31 2024287.42025347.851Aes51Sim 51Earth 51Aes2024236.22025274.451Sim202447.6202555.651Earth20243.6202517.8 2024140.52025243.651Aes51Sim 51Earth 2024146.92025104.2202451.1%202530.0% 202458.3202582.3 202458.2202564.5 202489.62025105.5 202410.4202510.2 202422.2202541.32025 20245.620256.3 2025186.0202479.0 20241231194.920251231261.52025 202591.894.2 202510.6 2025743.6 20251231382024 202512313501995(b) H20251230649.9 20251231 202512 3144.7% 202512 31 202512 31 202512 31 202512 31 20251231 40201522016112018420131201912201112012122009320101220087200932023620086 372015220137201512013720116202362022420125(CATTI) 362018820148201882014720143202311 2025123110%395,295H 3851Aes51Aes201592014122015720106 38201922019220262202462025851Earth201742017620181020168201742015120167201332014102013320097 3720262132024122025122017120241211072014120171201292013121107(MBA)20127 4220249162015820098201582009820056 482024916202512120520256216620253WDH20231096762019121503201320256 200682005820045(MBA)20007202372023320226202182021320196 4920249 163.10(2) 2020420249301316201762017129988.hk201452016620101201453.10(2) 20051200212 40 37 3620211201882020113005782014112018820136 3851Aes 36 36 1220112007 2026129 202621320262133.09D2026213 202512 31 20251231 20262 1320262 13 20262 1320262 13 20152162020121H20251230 20152AI5.1KM²51Aes51Sim51Earth 13 5 202512 31350 20251231 21.9%5.0% 20.2%5.8% 5% 20251231130 202512 3110 202512 3130,000 2025123020251231 202512 312024 20251231HHH 2025123123 202512 31 202512 31 202512 3128619 13.1313.22 2026213 20251231 20251231 202512 31 20251231336 4.4.76%20%395,295H0.10% 20251231336 202512 31XV352 202512 31406,356,15219,081,808387,274,344H 3.92.74%81,141,837H38,238,0957,647,619H2026413 20251231XV352 202512 3118C.14 2.(i)47,670,825(ii)92.7%46,933,525(iii)4.23%112,907(iv)26.18%6,992,288112,9076,992,28823.3%101,709,54525.03%18C.14(1) 3.(i)11.64%310,493(ii)3.06%817,348 4.(i)40.0%158,118(ii)0.55%147,0565.1.04%278,0796.0.59%156,2557.0.11%30,3048.0.11%28,1009.0.75%200,00410.(i)0.82%218,176(ii)10.00%39,53011.2.73%729,03512.1.15%306,40613.1.71%457,68314.0.93%247,060 382,380,95212 (i) 382,380,95294.10%(ii)23,975,200H5.90% A. 2023628202489 (i) (ii) (iii) (iv) 13.67%3,650,035 (v) (vi) (i)(ii)20251231 (vii) 20251231 202512313,650,0350.88% 202512 31(1) 202512 31 2025123121.88%798,537 (viii) 20251231202512313,650,0350.88% 202512312,851,498 1.5 B. 202489 (i) (ii) (iii) (iv) 38,238,0959.24% (v) H (vi) (vii) (viii) H (ix) (x) (xi) 20248938,238,09538,238,09520251 1203012 31510,000 5.110 1.20251 1203012 31 ••(a)H(b) •(a)(b)•(a)30(b) (xii) 2025123138,238,0959.24%18C.14(1)H20264 137,647,619 C. 20238417.14 (i) (ii) (iv) (v) (vi) (vii) (viii) (ix) 2025123132645,7155.7% 202512 31(1) 2025123118 78 202512312514A.76(1)14A.9514A14A 25% 20264 15 202512 31 C1 41 1/2 C.2.1 3.13 3.09F3.09H 202512 31 20262 1320262 13 20251231 (1)(2)(3)(4) 2 20251231 (1)(2)(3)(4)(5)(6) 1 (1)(2)(3)(4) 1 (1)(2)(3)(4) 1 30% 202512 31 0500,000500,0011,000,0001,500,0012,000,000 9310%1 A.2.1 202512 31 202512312D.2 125129 202512 31 3.2915202512 302026 10%1051010%59010% 1%102 https://www.51world.com.cn 1MOMAir@51world.com.cn 10%50%2 20251231 1MOMAir@51world.com.cn 2026213202620261 29 20264 15 ESG (i) 51Aes(ii) 51Sim(iii) 51Earth95% ESG C2ESGESG ESGESG@51world.com.cn (E)2025 AA 20152AI5.1km2AI19 3DAI 51Earth 51Sim 51Aes AESWDP A IAI ClonovaAperdataAI •5•40+•100+•30+•260+ 2030 AI3D •5.1km2•UNSDGsESG•ESG 203014AI ESGESGESGESG ESG ESGESGESGESGESG ESG ESG ESGESG E S G ESGESG ESG ESGSASBIFRS S1IFRS S2MSCI ESG10 ••••• ••••• • 3D 3D AI 51Aes •URP • 51Aes •DTARK-V2.0 • 51Aes •51GIM 51Aes •5A • • 3D 111 260 ISO 9001 85% API •••• • ESG