Core Viewpoint - The collaboration between Youjia Innovation and Sterling Tools Ltd. marks a significant step in the company's overseas strategy, focusing on the localization of smart driving solutions in the Indian automotive market [1][3]. Group 1: Partnership Details - Youjia Innovation has signed a memorandum of understanding with Sterling Tools Ltd., a leading automotive parts supplier in India, to enhance smart driving solutions and local production of components [1]. - The partnership aims to leverage both companies' strengths, combining Youjia Innovation's self-developed capabilities with Sterling's industry experience and local resources [1]. - The Indian regulatory framework mandates that all new vehicle models must be equipped with Advanced Driver Assistance Systems (ADAS) and Driver Drowsiness Alert and Warning Systems (DDAWS) starting January 1, 2027, creating a sustained market demand for smart automotive components [1]. Group 2: Market and Financial Outlook - Youjia Innovation has gained positive attention from the capital market, with Ping An International initiating coverage and assigning a "Buy" rating with a target price of HKD 19.3, indicating significant potential upside [2]. - The company has a clear growth path in both smart driving and intelligent cockpit sectors, with ongoing iterations of its iSafety and iPilot solutions aligning with industry trends [2]. - The L4 autonomous driving solution, iRobo, has been successfully expanded into various scenarios, particularly with the unmanned delivery vehicle "Xiao Zhu," which is expected to achieve a delivery volume of 10,000 units in 2026, becoming a new revenue growth engine for the company [2]. Group 3: Strategic Implications - The collaboration with Sterling Group not only represents a key market expansion step but also showcases the comprehensive output of Youjia Innovation's technical strength, product system, and localization capabilities [3]. - This partnership is expected to accelerate the adoption and application of smart driving technology in the Indian automotive industry, opening up significant growth potential for Youjia Innovation [3]. - The "Buy" rating from Ping An International validates the company's strategic layout, technological accumulation, and commercial prospects recognized by professional institutions [3].

Group 1: Major Developments - 康耐特光学 (02276) and 歌尔光学 plan to establish a joint venture to expand the application market for customized lenses in AI/AR/VR/MR glasses [1] - 圣贝拉 (02508) and 云迹科技 signed a strategic cooperation framework agreement to explore the deep integration and application of artificial intelligence and robotics in high-demand home care scenarios [1] - KKCG Maritime intends to initiate a voluntary conditional partial public acquisition offer to acquire 15.4% of 法拉帝 (09638) shares [1] - 远大医药 (00512) announced that the new drug application for the innovative radiolabeled drug TLX591-CDx has been accepted by the China National Medical Products Administration [1] - 艾美疫苗 (06660) received approval to conduct clinical trials for a 20-valent pneumococcal polysaccharide conjugate vaccine [1] - 中国东方航空股份 (00670) sold the 凯迪克大厦 in Shanghai and related assets to 东航置业 for approximately 134 million yuan [1] - 佑驾创新 (02431) signed a memorandum of understanding with India's leading automotive parts manufacturer STL [1] - 南山铝业国际 (02610) plans to develop electrolytic aluminum and related raw materials and supporting businesses [1] Group 2: Financial Performance - 顺丰控股 (06936) reported a total revenue of 27.339 billion yuan from its express logistics, supply chain, and international businesses in December, representing a year-on-year increase of 3.41% [2] - 美丽田园医疗健康 (02373) issued a profit warning, expecting adjusted net profit for 2025 to be no less than 380 million yuan, a year-on-year increase of at least 40% [2] - 中国太平 (00966) issued a profit warning, anticipating a year-on-year increase of approximately 215% to 225% in shareholder profit for the 2025 fiscal year [2] - 吉宏股份 (02603) issued a profit warning, expecting a net profit attributable to shareholders of approximately 273 million to 291 million yuan for 2025, a year-on-year increase of 50% to 60% [2] - 兖煤澳大利亚 (03668) reported a fourth-quarter coal sales volume of 10.8 million tons, a year-on-year increase of 4% [2] - 兖矿能源 (01171) reported a fourth-quarter commodity coal production of 46.51 million tons, a year-on-year increase of 4.4% [2] - 深圳控股 (00604) projected a total contract sales amount of approximately 13.311 billion yuan for 2025, a year-on-year decrease of 21.55% [2] - 上海石油化工股份 (00338) issued a profit warning, expecting a net loss attributable to shareholders of approximately 1.289 billion to 1.576 billion yuan for 2025, indicating a shift from profit to loss [2] - 上海石油化工股份 (00338) reported gasoline sales revenue of 24.656 billion yuan for 2025 [2]

佑驾创新(02431)发布公告，公司近期已与Sterling Tools Limited(STL)签署谅解备忘录，以推进辅助驾驶 系统(ADAS)及驾驶员状态监测系统(DMS)在印度的部署。 谅解备忘录载列公司与STL就合作达成的关键条款及谅解。本次合作标志着集团进军印度市场的初步举 措，体现其更广泛的海外扩张战略。集团将为乘用车及商用车提供全栈式ADAS与DMS解决方案及产 品，而作为长期深耕印度市场、拥有广泛OEM关系网及本土化生产能力的汽车零部件制造商，STL将提 供本土化支持与产业协作。 STL成立于1979年，是印度领先的高强度冷镦汽车紧固件制造商，产品应用于乘用车、两轮摩托车、商 用车及工程机械设备。STL深耕精密工程与电动车零部件领域，为全球整车原厂提供服务，推动汽车供 应链创新。STL的股份于印度国家证券交易所(NSE：STERTOOLS)及孟买证券交易所(BOM：530759)上 市。 公司与STL的合作将整合双方专长，共同交付高性能、本土化的智能驾驶解决方案。通过将集团的 ADAS和DMS解决方案与STL的本土化布局相结合，本次合作不仅旨在满足印度市场对ADAS和DMS解 决方案日益增长的 ...

谅解备忘录载列公司与STL就合作达成的关键条款及谅解。本次合作标志着集团进军印度市场的初步举 措，体现其更广泛的海外扩张战略。集团将为乘用车及商用车提供全栈式ADAS与DMS解决方案及产 品，而作为长期深耕印度市场、拥有广泛OEM关系网及本土化生产能力的汽车零部件制造商，STL将提 供本土化支持与产业协作。 格隆汇1月19日丨佑驾创新(02431.HK)宣布，公司近期已与Sterling Tools Limited(「STL」)签署谅解备忘 录，以推进辅助驾驶系统(「ADAS」)及驾驶员状态监测系统(「DMS」)在印度的部署。 公司与STL的合作将整合双方专长，共同交付高性能、本土化的智能驾驶解决方案。通过将集团的 ADAS和DMS解决方案与STL的本土化布局相结合，本次合作不仅旨在满足印度市场对ADAS和DMS解 决方案日益增长的需求，亦将助力全球智慧出行技术的广泛应用。 ...

香港交易及結算所有限公司及香港聯合交易所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 對 因 本 公 告 全部或任何部分內容而產生或因依賴該等內容而引致的任何損失承擔任何責 任。 本 公 司 董 事（「董 事」）會（「董事會」）欣 然 宣 佈，本 公 司 近 期 已 與Sterling Tools Limited （「STL」）簽 署 諒 解 備 忘 錄（「諒解備忘錄」），以 推 進 輔 助 駕 駛 系 統（「ADAS」）及 駕 駛 員 狀 態 監 測 系 統（「DMS」）在 印 度 的 部 署。 Minieye Technology Co., Ltd 深圳佑駕創新科技股份有限公司 （於中華人民共和國註冊成立的股份有限公司） （股份代號： 2431） 自願性公告 與印度龍頭汽車零部件製造商簽署諒解備忘錄 本 公 告 乃 由 深 圳 佑 駕 創 新 科 技 股 份 有 限 公 司（「本公司」，連 同 其 附 屬 公 司 統 稱 「本集團」）自 願 刊 發，以 向 股 東 及 有 意 投 資 者 提 供 關 於 本 公 司 最 ...

浦银国际发布研报称，首次覆盖佑驾创新(02431)，给予"买入"评级，目标价19.3港元，潜在升幅30%， 对应2026E目标市销率4.2x。中国本土智驾Tier 1在2025年前三季度合计占据智驾域控市场过半份额。未 来在中国市场，本土厂商将继续充分竞争，关键点在于大规模商业化落地的能力。 浦银国际主要观点如下： 首次覆盖智驾Tier 1行业，给予"超配"评级 智驾域控作为智能驾驶功能实现的核心部件，市场呈快速扩张态势。根据Frost&Sullivan，全球乘用车 智驾域控市场规模将在2029年达人民币4,284亿元，其中中国占据近40%份额，其中佑驾创新是该行在 智驾Tier1行业的首选。展望未来，能够迭代算法保障方案性能、洞察客户需求持续获得定点、以综合 服务推动项目持续量产的 Tier 1，更有机会成长为头部玩家。中国本土 Tier 1 也有望凭借技术积累、研 发效率和规模化生产的成本优势进入更广阔的国际市场。 舱驾两域业务布局，全方位赋能汽车智能化，政策驱动功能标配+自主车企"智驾平权"助力佑驾高速成 长 佑驾战略布局智驾和座舱两条业务线，在智驾域，公司通过前装量产的iSafety和iPilot方案 ...

Core Viewpoint - Ping An International initiates coverage on Youjia Innovation (02431) with a "Buy" rating and a target price of HKD 19.3, indicating a potential upside of 30% and a projected price-to-sales ratio of 4.2x for 2026E [1] Group 1: Industry Overview - The global passenger car intelligent driving domain control market is expected to reach RMB 428.4 billion by 2029, with China accounting for nearly 40% of the market share [2] - Domestic Tier 1 players in China are anticipated to leverage technological accumulation, R&D efficiency, and cost advantages in large-scale production to enter broader international markets [2] Group 2: Company Strategy and Growth - Youjia has strategically positioned itself in both intelligent driving and cabin domains, with progressive iterations through its iSafety and iPilot solutions [3] - The implementation of mandatory AEB features is expected to drive growth in iSafety shipments, while the iPilot solution meets the "intelligent driving equality" needs of domestic automakers [3] - The company's DMS products are evolving, and the introduction of the intelligent assistant BamBam is expected to enhance the value of its cabin business [3] Group 3: Autonomous Vehicle Development - Youjia is advancing its L4-level autonomous driving solution, iRobo, with rapid commercialization in various scenarios, including a successful project launch for its autonomous minibus [4] - The company is also entering the unmanned delivery sector with the Xiaozhu autonomous vehicle, which is expected to achieve significant delivery volumes by 2026, becoming a key revenue source [4] - If the business model for unmanned vehicles continues to be validated, Youjia's valuation flexibility is likely to increase [4]

与公司回购形成强力呼应的是，基石投资者也开展增持动作。1月8日，佑驾创新宣布，基石投资者 Horizon Together Holding Ltd.基于对公司业务的长期看好，近期已在公开市场合计购入68.82万股本公司 H股。 据悉，Horizon Together Holding Ltd.为地平线机器人(09660)全资子公司，此次增持源于双方多年的合作 积淀——地平线长期看好佑驾创新未来发展前景，认可其在地平线生态中的重要价值;同时，双方亦期 待通过技术与资源的双向赋能，携手加速L4无人物流车业务的发展进程。 无论是回购迅速落地，还是基石投资者增持，共同构成了佑驾创新"信心背书"体系，向市场清晰传递出 管理层、核心股东及基石投资者对公司长期价值的笃定。 佑驾创新1月7日回购174.54万股H股，总支付金额为2579.94万港元，回购股份占公司已发行股份的 0.527%。 1月8日继续回购125.94万股H股，总支付金额为1907.92万港元。此次回购股份占已发行H股总数的 0.3823%。 智通财经APP获悉，2026年1月8日晚间，佑驾创新(02431)发布公告，截止2026年1月8日，公司于市场累 计 ...

Group 1 - The company, Youjia Innovation, announced the repurchase of 3,004,800 H shares at a total cost of approximately 44,878,604 HKD, with an average price of about 14.94 HKD per share [1] - The board believes that the current trading price of H shares does not reflect their intrinsic value and the actual business prospects of the group, indicating strong confidence in the long-term value of the company [1] - On January 7, the company repurchased 1.7454 million H shares for 25.7994 million HKD, representing 0.527% of the issued shares, followed by a further repurchase of 1.2594 million H shares for 19.0792 million HKD on January 8, accounting for 0.3823% of the total issued H shares [1] Group 2 - Horizon Together Holding Ltd., a wholly-owned subsidiary of Horizon Robotics, has increased its stake in Youjia Innovation by purchasing 688,200 H shares, reflecting a long-term positive outlook on the company's future development [2] - The collaboration between Youjia Innovation and Horizon Robotics is expected to accelerate the development of L4 unmanned logistics vehicles through mutual technological and resource empowerment [2] - The swift share repurchase and the increase in stake by cornerstone investors together form a "confidence endorsement" system, clearly conveying the commitment of management, core shareholders, and cornerstone investors to the company's long-term value [2]

公司董事会认为，目前的H股股份成交价并不反映H股股份的内在价值和集团的实际业务前景。董事会 相信，股份回购体现了管理层对集团长期价值的坚定信心，有利于提升集团资本市场价值及股东回报能 力。 佑驾创新(02431)发布公告，内容有关公司计划根据于2025年5月23日举行的股东周年大会上授予公司董 事及经公司股东批准的一般授权，不时进行总金额不超过2亿港元的场内回购。截止2026年1月8日，公 司于市场累计购回300.48万股公司H股股份，总金额约4487.86万港元，平均价约每股H股股份14.94港 元。 ...