Core Viewpoint - The rapid influx of capital into the unmanned logistics sector has led to significant financing for multiple companies, accelerating the commercialization of unmanned logistics vehicles, exemplified by Youjia Innovation's launch of its unmanned logistics brand "Xiaozhu Unmanned Vehicle" with two models, T5 and T8 [2][4]. Company Overview - Youjia Innovation has officially launched its unmanned logistics brand "Xiaozhu Unmanned Vehicle" on September 15, introducing two models: T5 and T8 [2]. - The T5 model has a cargo volume of 5.5m³, a maximum load of 1000kg, and a range of 180km, targeting urban distribution and retail [2]. - The T8 model offers a larger cargo volume of 8.5m³, a maximum load of 1700kg, and a range of 240km, suitable for industrial logistics and large-scale transportation [2]. Market Context - China has been the world's largest logistics market for nine consecutive years, with traditional logistics struggling to increase profits through reduced labor costs and improved efficiency [2][4]. - The unmanned logistics vehicle is seen as a solution to balance labor costs and organizational efficiency in the logistics sector [4]. Technological Advancements - Xiaozhu Unmanned Vehicle employs a multi-sensor fusion approach, including three LiDARs and eleven cameras, to achieve 360-degree visibility and precise road condition recognition [3]. - The vehicle's development benefits from over a decade of industry experience and extensive road data, enabling rapid growth in capabilities such as complex road navigation and autonomous parking [3]. Financial Performance - In the first half of 2025, Youjia Innovation reported revenue of 346 million yuan, a year-on-year increase of 46.07%, but incurred a loss of 152 million yuan [4]. - The company anticipates no net profit before 2026, with the L4 unmanned vehicle business expected to become a significant growth driver following the success of its other business lines [4]. Industry Trends - The unmanned logistics sector is experiencing a surge in investment, with several companies securing substantial funding in 2023, indicating a robust market interest [5]. - By mid-2025, 103 cities in China had officially opened road rights for unmanned delivery vehicles, covering over 80% of major logistics nodes [5]. Future Outlook - The market for unmanned logistics vehicles is projected to exceed 30,000 units by 2025, with a penetration rate surpassing 1.2%, and is expected to grow significantly in the following years [5]. - The industry is still in its early stages, with key indicators for scaling including the opening of road rights in over 200 cities and reducing operational costs to below 70% of human delivery costs [6].

每经AI快讯，9月16日，佑驾创新(02431.HK)盘中涨超10%，截至发稿，涨6.34%，报27.18港元，成交 额1.35亿港元。 （文章来源：每日经济新闻） ...

Core Viewpoint - Youjia Innovation (02431) has officially entered the unmanned logistics industry with the launch of its unmanned vehicle brand "Xiaozhu Unmanned Vehicle" on September 15, following the delivery of its first batch of vehicles to partners, indicating a "release and delivery" strategy [1] Group 1: Company Developments - Youjia Innovation's stock price increased by over 10% during trading, with a current increase of 6.34%, reaching HKD 27.18, and a trading volume of HKD 135 million [1] - The company's L4 solution has been commercially implemented in various scenarios, including parks, commuting, and airports [1] Group 2: Strategic Partnerships - Youjia Innovation's Xiaozhu unmanned vehicle has received recognition from Shenzhen Post and Eastern Bus, leading to a strategic cooperation agreement signed on September 3 [1] - The partnership will focus on four key areas: integration of unmanned logistics vehicles with public transport scenarios, composite utilization of bus station spaces, expansion of cross-scenario business, and collaborative innovation in labor utilization [1] - The collaboration aims to enhance both logistics efficiency and the utilization rate of public resources [1]

Core Viewpoint - Youjia Innovation (02431) has officially entered the unmanned logistics industry with the launch of its unmanned vehicle brand "Xiaozhu Unmanned Vehicle" on September 15, following the delivery of its first batch of vehicles to partners, indicating a "release and delivery" strategy [1] Company Developments - Youjia Innovation's stock price increased by over 10% during trading, with a current increase of 6.34%, reaching HKD 27.18, and a trading volume of HKD 135 million [1] - The company's L4 solution has been commercially implemented in various scenarios, including parks, commuting, and airports [1] Strategic Partnerships - Youjia Innovation's Xiaozhu unmanned vehicle has received recognition from Shenzhen Post and Eastern Bus, leading to a strategic cooperation agreement signed on September 3 [1] - The partnership aims to enhance logistics efficiency and public resource utilization through four key areas: integration of unmanned logistics vehicles with public transport scenarios, composite utilization of bus station spaces, expansion of cross-scenario business, and collaborative innovation in labor utilization [1]

9月15日，佑驾创新（02431.HK）于深圳举办新品发布会，推出旗下无人物流专属品牌"小竹无人车"， 同时宣布首批车辆下线并向合作伙伴交付，以"发布即交付"的节奏，正式进军无人物流行业。 作为一家智能驾驶及智能座舱解决方案供应商，佑驾创新已构建L1至L4级别的全维度智驾能力，以响 应不同场景下的多样化需求。截至2025年6月底，公司已累计与42家车企达成量产合作，相关搭载车型 出口至欧洲、澳大利亚等海外市场，为其无人物流业务的落地奠定了深厚的行业基础与技术沉淀。 此次发布的"小竹无人车"，推出T5与T8两款核心车型，精准覆盖不同物流场景需求。其中，T5车型聚 焦中小运量场景，货箱空间经优化后可释放5.5m 容积，实现同级最大载重1000kg，最高续航达 180km，主要服务于快递城配、商超零售、生鲜配送等高频民生物流场景；T8车型针对大运量运输需求 设计，拥有8.5m 超大货箱容积，最大载重提升至1700kg，最高续航延长至240km，可广泛应用于城配 干线、工业物流、耐用仓配等更专业的物流场景。 在安全与技术层面，小竹无人车采用多传感融合方案，配备3颗激光雷达与11颗摄像头，构建360°无盲 区感知视角， ...

Core Viewpoint - Youjia Innovation has launched its unmanned logistics brand "Xiaozhu Unmanned Vehicle," marking a significant advancement in autonomous driving technology from L1 to L4, aimed at creating more value in diverse and complex scenarios [1][2]. Group 1: Product Launch and Features - The Xiaozhu unmanned vehicle debuted two models, T5 and T8, with T5 offering a cargo space of 5.5m³, a maximum load of 1000kg, and a range of 180km, targeting express delivery and retail [1][2]. - The T8 model features an 8.5m³ cargo capacity, a maximum load of 1700kg, and a range of 240km, suitable for urban distribution and industrial logistics [2]. - Both models utilize a multi-sensor fusion approach, including 3 LiDARs and 11 cameras, providing a 360° view for enhanced safety and road condition recognition [2]. Group 2: Strategic Partnerships and Collaborations - The next generation of Xiaozhu unmanned vehicles will integrate advanced technologies from partners like Horizon Robotics, Suton Ju Chuang, and 4D Mapping, enhancing product capabilities [3]. - The stable supply chain and procurement needs of Youjia Innovation's front-end business help reduce the BOM costs of Xiaozhu unmanned vehicles, creating a cost advantage in the market [3]. Group 3: Market Deployment and Recognition - The company has initiated immediate delivery of the unmanned vehicles to partners, with key cities like Shenzhen, Chengdu, and Xi'an being the initial deployment areas [4]. - Youjia Innovation's L4 autonomous driving iRobo business has shown significant progress, achieving over 10 million in revenue within six months, and has successfully launched unmanned buses in multiple cities [5]. Group 4: Future Outlook and Market Position - The company aims to continue expanding its autonomous driving applications while maintaining a focus on deep collaboration with ecosystem partners to enhance the value of Xiaozhu unmanned vehicles [5]. - Recent positive developments have led to renewed confidence from the capital market, with Citic Lyon reaffirming a "outperform" rating for Youjia Innovation, setting a target price of 32 HKD [5].

Core Insights - The IAA MOBILITY 2025 event in Munich marks a significant platform for showcasing advancements in the automotive and mobility sectors, with a focus on intelligent driving and smart cockpit technologies [1][11] - Youjia Innovation (佑驾创新) made its debut at the event, unveiling its next-generation smart cockpit assistant, BamBam, which emphasizes a comprehensive product matrix covering intelligent driving and cockpit solutions [1][11] Group 1: Product Innovations - BamBam is designed to enhance user interaction by utilizing a "cloud-edge" framework, breaking traditional limitations and providing a revolutionary smart cockpit experience [2][6] - The product combines large and small models to balance efficiency, with small models focusing on specific tasks like fatigue detection, while large models offer human-like decision-making and semantic understanding [4][6] - BamBam aims to evolve from a functional tool to an intelligent companion, focusing on three core scenarios: travel companion, life assistant, and emotional support [5][6] Group 2: Compliance and Safety - Youjia Innovation's product matrix includes solutions that meet the new E-NCAP 2026 regulations, ensuring compliance with stringent automotive safety standards [7][9] - The company has developed advanced driver and occupant monitoring systems that can accurately assess driver attention and passenger safety, including features like body type classification for airbag deployment [9] Group 3: Global Expansion Strategy - Youjia Innovation is strategically positioning itself for global expansion, having established partnerships with 42 automotive manufacturers for mass production, which strengthens its competitive edge in overseas markets [11][13] - The company has successfully integrated its products into various international supply chains, exporting to regions such as the EU, Australia, and Mexico, showcasing its commitment to global collaboration [11][12]

Core Insights - The IAA MOBILITY 2025 event in Munich marks a significant platform for showcasing advancements in the automotive industry, with a focus on intelligent driving and smart cabin technologies [1][13] - Youjia Innovation (佑驾创新) made its debut at the event, unveiling its next-generation smart cabin assistant, BamBam, which emphasizes a human-centered approach to in-car interaction [2][6] Group 1: Product Innovations - BamBam integrates a "big model + small model" approach, balancing efficiency with quick responses for specific functions like fatigue detection, while the big model supports complex decision-making and personalized interactions [4] - The technology framework for BamBam includes "cloud + edge" solutions, ensuring personalized data handling while maintaining user privacy and enhancing real-time responsiveness [5] - BamBam aims to redefine the in-car experience by focusing on three core scenarios: "travel companion," "lifestyle assistant," and "emotional support," transforming the smart cabin from a functional tool to an intelligent companion [6][10] Group 2: Compliance and Market Strategy - Youjia Innovation's full-stack product matrix includes solutions that meet the new E-NCAP 2026 regulations, demonstrating the company's commitment to safety and compliance in the automotive sector [7][10] - The company has established a strong foothold in the European market, having collaborated with 42 automotive manufacturers for mass production, and is recognized for helping Chinese manufacturers achieve E-NCAP five-star ratings [12][14] - Youjia Innovation's strategic focus on regulatory compliance positions it as a key player in the global automotive intelligence market, with plans to expand its overseas partnerships and enhance its product offerings [12][13]

香 港 交 易 及 結 算 所 有 限 公 司、香 港 聯 合 交 易 所 有 限 公 司 及 香 港 中 央 結 算 有 限 公 司 對 本 公 告 的 內 容 概 不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示，概 不 就 因 本 公 告 全 部 或 任 何 部 分 內 容 所 產 生 或 因 依 賴 該 等 內 容 而 引 致 的 任 何 損 失 承 擔 任 何 責 任。 於 臨 時 股 東 會 日 期，概 無 股 東 根 據 上 市 規 則 須 就 臨 時 股 東 會 上 提 呈 的 任 何 決 議 案 放 棄 投 票，亦 無 股 份 賦 予 股 東 權 利 出 席 臨 時 股 東 會 而 根 據 上 市 規 則 第13.40 條 須 就 會 上 提 呈 的 任 何 決 議 案 放 棄 投 贊 成 票。概 無 股 東 於 通 函 內 表 明 彼 等 有 意 就 臨 時 股 東 會 上 提 呈 的 任 何 決 議 案 投 反 對 票 或 放 棄 投 票。 Minieye Technology Co., Ltd （股份代號： 2431） （於中華人民共和 ...

Core Viewpoint - The strategic cooperation between Youjia Innovation, Shenzhen Post, and Eastern Public Transport aims to integrate logistics and public transportation, enhancing resource utilization and operational efficiency in urban settings [1][2]. Group 1: Strategic Cooperation Details - The collaboration focuses on a systematic layout of "logistics + public transport" rather than a short-term engagement, leveraging the strengths of each party [1]. - Youjia Innovation will act as the technology and product supplier, Shenzhen Post will support the implementation, and Eastern Public Transport will provide the unmanned vehicle platform [1]. - The partnership aims to create a long-term, mutually beneficial relationship by utilizing each party's core resources and channels [1]. Group 2: Areas of Focus - The cooperation will advance in four main areas: integration of unmanned logistics vehicles with public transport scenarios, composite utilization of bus station spaces, cross-scenario business expansion, and collaborative innovation in labor utilization [1]. - The goal is to break down traditional industry barriers and enhance both logistics efficiency and public resource utilization [1]. Group 3: Impact on Industry - This partnership is expected to innovate the urban delivery system and public transport network integration, reducing redundant costs in warehousing and transportation [2]. - The collaboration will provide low-cost, high-adaptability solutions for the large-scale implementation of unmanned logistics in urban settings [2]. - Youjia Innovation is positioning itself as an "intelligent vehicle enabler," entering the unmanned logistics sector and promoting efficient resource utilization and improved public services [2].