Core Viewpoint - The issuance of the first L3-level autonomous driving license plate "渝AD0001Z" in Chongqing marks a significant milestone for Changan Automobile, indicating the start of the L3 autonomous driving era in China [2] Group 1: L3 Autonomous Driving Development - Changan Automobile has completed over 5 million kilometers of real-road testing for its L3 autonomous driving system in Chongqing [2] - The L3 autonomous driving license plate will be first installed on Changan's Deep Blue vehicle products, allowing for trial operations on specific roads in Chongqing [2] - The Ministry of Industry and Information Technology has approved the first batch of L3 autonomous driving models, including Changan's Deep Blue SL03, for trial operations in designated areas [3] Group 2: Safety and Technology - Changan emphasizes safety and quality as its lifeline, equipping its approved models with industry-leading 4D imaging millimeter-wave radar, which can replace laser radar in certain scenarios [4] - The TJP system significantly reduces the computational requirements of the NPU through continuous optimization of hardware and algorithms, while distributed perception computing minimizes resource consumption [4] - During the approval period, the TJP system has been activated for over 150,000 kilometers without any accidents or violations [4] Group 3: Future Plans - Changan plans to conduct road trial applications with its partner, Changan Car Union Technology, in the first quarter of 2026 [4] - Following the formal implementation of relevant national regulations and policies, Changan will begin product approvals and market launches aimed at end-users [4]

Core Viewpoint - The emergence of China's first L3 autonomous driving license plate marks a significant step towards the commercialization of L3 autonomous driving technology, with Changan Automobile leading the way in this development [2][3][4]. Group 1: L3 Autonomous Driving License and Models - The first L3 autonomous driving license plate "渝AD0001Z" was awarded to Changan Automobile in Chongqing, indicating the start of the L3 autonomous driving era in China [2][3]. - The Ministry of Industry and Information Technology (MIIT) has approved the first batch of L3 autonomous driving models, including Changan's Deep Blue SL03 and Arcfox Alpha S6, for trial operations in designated areas of Beijing and Chongqing [4][5]. - Changan's L3 autonomous driving system has undergone over 5 million kilometers of testing on complex roads in Chongqing, demonstrating its readiness for commercial application [3][5]. Group 2: Market Impact and Future Prospects - Following the announcement of L3 autonomous driving approvals, related stocks surged, with multiple companies seeing significant gains in the stock market [2]. - Analysts believe that the approval of L3 models signifies a new phase in the mass production and application of intelligent connected vehicles in China, potentially leading to a restructuring of the autonomous driving industry [6][7]. - The gradual implementation of L3 autonomous driving is expected to expand from B-end (business) to C-end (consumer) markets, with increasing opportunities for component suppliers and testing institutions [7].

Core Viewpoint - The emergence of China's first L3 autonomous driving license plate marks a significant step towards the commercialization of L3 autonomous driving technology, with Changan Automobile leading the way in this development [1][2]. Group 1: L3 Autonomous Driving License and Models - On December 20, the first L3 autonomous driving license plate "渝AD0001Z" was awarded to Changan Automobile in Chongqing, indicating the start of the L3 autonomous driving era in China [2]. - The Ministry of Industry and Information Technology (MIIT) announced the first batch of L3 autonomous vehicle approvals on December 15, allowing Changan's Deep Blue SL03 and Arcfox Alpha S6 to conduct pilot tests in designated areas of Beijing and Chongqing [3]. - Changan's L3 autonomous driving system has undergone over 5 million kilometers of testing on complex roads in Chongqing, with the license plate to be installed on Deep Blue vehicles for pilot operations [2][4]. Group 2: Industry Implications and Future Outlook - Longjiang Securities stated that China has become the second country after Germany to officially permit L3 autonomous driving, indicating a new phase of mass production and application for intelligent connected vehicles [5]. - The approval of L3 models is expected to accelerate the development of a regulatory framework and standards for intelligent connected vehicles, enhancing the commercialization of autonomous driving technology [5][6]. - The gradual commercialization of L3 autonomous driving is anticipated to create opportunities for incremental components, with a focus on technologies such as detection systems and driving assistance data recording systems [6].

交巡警总队授牌 12月20日，一张印有"渝AD0001Z"字样的号牌在重庆正式发出。 这张由重庆市公安局交通管理总队授予长安汽车的号牌的意义远超出了行政许可本身。它是首块L3级 自动驾驶专用正式号牌，也意味着，中国智能网联汽车正在剥离模糊的营销话术，正式迈入权责分明的 合规商用时代。 长期以来，自动驾驶行业在L2与L3的界限上始终处于一种微妙的试探期。此次长安汽车获得正式号 牌，并在深蓝汽车上率先落地，实质上是撕开了L3级自动驾驶从技术验证向规模化量产突围的口子。 直到2025 年底，工信部在 12 月 15 日正式对外公布首批 L3 级有条件自动驾驶车型准入许可，长安深蓝 SL03 和北汽极狐阿尔法 S等车型都拿到了正式的入场券。 长安这块"渝AD0001Z"，本质上是把纸面上的准入许可继续向前推进了一步，从工信部的产品准入，走 到了公安交管部门颁发的正式号牌。这意味着：监管链条从工信部扩展到公安、交通等多部门协同，对 车企来说，这也是从迈进"规则游戏"的新起点。 为何是长安？为什么落在重庆？ 那么这块号牌为什么落在重庆、落在长安？ 一头是有"8D 魔幻立体交通"的山城，一头是深耕重庆多年的老牌主机厂。双方 ...

Core Insights - Changan Automobile has officially received the first L3 autonomous driving special license plate "渝AD0001Z" in Chongqing, marking the company's leadership in the L3 autonomous driving era [3] - The L3 autonomous driving system has undergone extensive testing, accumulating over 5 million kilometers on complex real-world roads in Chongqing, with a record of zero accidents and violations [3] Group 1 - The L3 autonomous driving vehicle is authorized to operate on major roadways in Chongqing, including the inner ring expressway and the new inner ring expressway, which are characterized by heavy traffic and complex conditions [4] - Changan has developed its intelligent technology system since 2009, with seven generations of technological iterations focused on safety [3] - The company began developing driving assistance capabilities in 2014 and initiated L3 autonomous driving research in 2017, achieving significant milestones in product testing and safety assessments [3] Group 2 - The testing scenarios for the L3 system include 191 types of elements, exceeding national standards by ten times, with extreme scenarios accounting for 36% of the tests [3] - The successful issuance of the L3 license plate is a result of Changan's rigorous testing and development process, which includes a solid foundation established by obtaining product access permits [3]

Group 1: Institutional Research and Market Performance - A total of 165 listed companies disclosed institutional research records during the week of December 15-19, with approximately half achieving positive returns [1] - The stock with the highest increase from institutional research was Zhenyou Technology, which rose by 21.89%, while nine other companies, including Aerospace Intelligence and Hongmian Co., saw gains exceeding 10% [1] - Popular stocks included Chang'an Automobile, Yipin Hong, and Boying Special Welding, with Chang'an receiving the most institutional investors [1] Group 2: Chang'an Automobile's L3 Approval - Chang'an Automobile received approval for its L3-level conditional autonomous driving model, with 214 institutions participating in its research [2] - The approved model, Deep Blue SL03, will be tested in designated areas of Beijing and Chongqing [2] - Chang'an's L3 capability development began in 2017, with the application for approval submitted in November 2023 [3][4] Group 3: Safety and Commercialization of L3 Technology - The approved model is equipped with advanced 4D imaging millimeter-wave radar, which can replace laser radar under certain conditions [4] - Chang'an plans to limit the autonomous driving speed to 0-50 km/h based on user scenarios and safety considerations [5] - The company aims to complete safety verification and promote industry standards rather than pursuing the technical upper limit [5] Group 4: Boying Special Welding's Institutional Interest - Boying Special Welding hosted four institutional research sessions during the week, with 107 institutions participating [6] - The company focuses on special equipment manufacturing, particularly in anti-corrosion and anti-wear welding equipment for various industrial sectors [6] - Boying Special Welding has developed core technologies for high-frequency oscillation welding, addressing industry pain points in sectors like waste incineration and biomass power generation [6] Group 5: Yipin Hong's Share Sale - Yipin Hong conducted research with 119 institutions following its announcement to sell shares in Arthrosi [8] - Post-transaction, Yipin Hong will retain 100% rights to AR882 in China and priority rights for global production supply [8] - The transaction is expected to close in the first quarter of 2026 after U.S. antitrust approval [8]

Core Viewpoint - The article discusses the recent institutional research activities of listed companies, highlighting the performance of stocks that were under institutional scrutiny and the implications of regulatory approvals for companies like Changan Automobile and Yipin Hong. Group 1: Institutional Research Activities - A total of 165 listed companies disclosed institutional research records during the week of December 15-19, with approximately half of these companies achieving positive returns [3]. - The stock with the highest increase from institutional research was Zhenyou Technology, which rose by 21.89%, while nine other companies, including Hangtian Zhizao and Hongmian Co., saw increases exceeding 10% [4]. - Popular companies under institutional research included Changan Automobile, Yipin Hong, and Boin Special Welding, with Changan receiving the most attention from 214 institutions [5][7]. Group 2: Changan Automobile - Changan Automobile received the first batch of L3 conditional autonomous driving model approvals from the Ministry of Industry and Information Technology on December 15, allowing its model, Deep Blue SL03, to conduct pilot tests in designated areas [6][7]. - The company began its L3 autonomous driving capability development in 2017 and aims to complete safety verification and promote industry standards rather than solely pursuing technological limits [9]. - Changan plans to initiate pilot applications with its partner, Changan Car Union Technology, in Q1 2026, following the implementation of relevant national regulations [10]. Group 3: Boin Special Welding - Boin Special Welding hosted four institutional research sessions during the week, with 107 institutions participating, focusing on its core equipment for anti-corrosion and wear-resistant welding [11][12]. - The company utilizes multiple welding technologies, including MIG, TIG, and laser welding, to address industry challenges in various sectors such as energy and environmental protection [13]. - Boin's production capacity at its Vietnam base includes one HRSG production line, which can produce approximately two sets of HRSG devices per year, depending on production schedules and resource availability [13]. Group 4: Yipin Hong - Yipin Hong conducted research with 119 institutions and announced plans to sell its stake in Arthrosi, which has attracted significant market attention [14][15]. - Post-transaction, Yipin will retain 100% rights to the AR882 drug pipeline in China and maintain priority for global production supply, with the deal expected to close in Q1 2026 after antitrust reviews [15].

Core Viewpoint - Changan Automobile has entered the L3 level autonomous driving era, receiving approval for its model, the Deep Blue SL03, as part of the first batch of L3 conditional autonomous driving vehicle licenses issued in China [1] Group 1: Company Developments - Changan Automobile conducted research with 214 institutions this week, following the announcement by the Ministry of Industry and Information Technology on December 15 regarding the issuance of the first batch of L3 level conditional autonomous driving vehicle licenses in China [1] - The approved models include Changan's Deep Blue SL03 and vehicles from the Extreme Fox brand, which will conduct road trials in designated areas of Beijing and Chongqing [1] Group 2: Technology and Safety - The approved model is equipped with industry-leading 4D imaging millimeter-wave radar, which can replace laser radar within the operational design conditions (ODC) and performs optimally in five categories of 17 extreme scenarios, such as pedestrian obstruction and adverse weather conditions [1] Group 3: Future Plans - Changan Automobile plans to initiate road trial applications in the first quarter of 2026 in collaboration with Changan Car Union Technology, the entity responsible for usage [1] - The company will begin product approval and market launch for end-users once relevant national regulations and policies are officially implemented [1]

长安汽车（000625）本周接受214家机构调研，因工信部在12月15日宣布，发放我国首批L3级有条件自 动驾驶车型产品准入许可。极狐汽车与长安汽车的两款纯电动轿车获得资质，将在北京、重庆指定区域 开展上路试点，长安汽车获批车型为旗下深蓝SL03。#长安汽车开启L3级自动驾驶时代# 对于L3级自动 驾驶的安全性，长安汽车称，获批车型配备了行业领先的4D成像毫米波雷达，在ODC（设计运行条 件）范围内可替代激光雷达，且在5类17个极限场景（如遮挡行人横穿、前车急刹、恶劣天气）性能行 业最优。长安汽车还谈及关于L3商业化落地的后续规划，公司预计2026年一季度与使用主体长安车联 科技进行上路通行试点应用。在国家相关法规及政策正式发布实施后，长安汽车将开始面向C端用户进 行产品准入和市场投放。（证券时报） ...

厦门钨业（600549）、一品红（300723）、博盈特焊（301468）、华通线缆（605196）、佐力药业 （300181）等个股也获超100家机构调研。厦门钨业近期股价频频创出历史新高，主要受益于钨精矿价 格频创新高。数据显示，江西钨精矿(65%)价格已飙升至43万元/吨上方，相比年初暴涨28.8万元/吨，涨 幅接近两倍。 | 近 | | | -周 (12.12~12.18) 机构调研情况 | | | | --- | --- | --- | --- | --- | --- | | 代码 | 简称 | 调研机构 | 三季报净 | 滚动市盈 | 本周涨跌 | | | | 数(家) | 利同比 | 率(倍) | 幅(%) | | | | | (%) | | | | 000625 | 长安汽车 | 214 | -14.66 | 17.14 | 0. 95 | | 600549 | 厦门钨业 | 172 | 27.05 | 30. 13 | 5. 15 | | 300723 | 一品红 | 119 | 44. 80 | | -23. 69 | | 301468 | 博盈特焊 | 108 | -37.17 | 15 ...