Core Insights - The article discusses the evolving landscape of China's automotive market, highlighting the shift towards cost reduction and technological upgrades, particularly in the realm of advanced driver assistance systems (ADAS) [1][3] - Black Sesame Intelligence is positioned as a key player in promoting the democratization of intelligent driving technology, aiming to make high-level ADAS accessible to more affordable vehicle models [4][5] Industry Trends - The automotive industry is experiencing a transformation where high-level ADAS is moving towards lower-priced models, with a focus on cost-effective solutions amid a competitive pricing environment [3][4] - The transition from distributed electronic architectures to domain control and central computing platforms is a significant trend, enabling enhanced performance and scalability for future vehicle upgrades [5][6] Company Strategy - Black Sesame Intelligence emphasizes two main strategies: aligning with the evolution of automotive electronic architectures and ensuring their chip designs are future-proof and compatible [4][5] - The company aims to build an open and collaborative ecosystem for ADAS, working with partners across the supply chain to lower development barriers and accelerate technology deployment [4][5] Product Development - The Huashan A1000 chip is noted as the first domestically produced high-performance chip platform with full automotive certification, successfully integrated into several popular vehicle models [6][9] - The Huashan A2000 family of chips is designed for specific scenarios, offering superior performance and energy efficiency compared to general-purpose GPUs, thus enhancing the capabilities of ADAS [9][11] Technological Innovations - Black Sesame's chips incorporate programmability and a new NPU architecture called "Jiushao," which enhances performance and adaptability to new algorithms, supporting the evolving needs of intelligent driving [9][11] - The Wudang C1200 family focuses on multi-domain integration, enabling seamless interaction between various vehicle systems, thereby improving user experience and data exchange capabilities [11]

南方黑芝麻集团股份有限公司 关于控股股东部分股份质押的公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假记 载、误导性陈述或重大遗漏。 特别风险提示： 公司控股股东及其一致行动人质押股份数量（含本次）占其所持公司股份数量 比例为 74.56%，请投资者注意相关风险。 证券代码：000716 证券简称：黑芝麻 公告编号：2025-028 截至本公告披露日，控股股东及其一致行动人质押股份数量（含本次）占其所 持公司股份数量比例已超过 50%但未达到 80%，其他相关情况说明如下： 1、上述股东本次质押融资不是用于满足上市公司生产经营。 2、截至本公告日，公司控股股东、实际控制人及其一致行动人质押股份累计 数量为 211,583,334 股（包括本次质押数），对应融资余额为 31,880 万元。未来半 年内到期的质押股份累计数量为 137,000,000 股，占所持公司股份总数 48.28% ， 占公司总股本 18.18%，对应融资余额 18,200 万元；未来一年内到期的质押股份累 计数量为 137,000,000 股，占所持公司股份总数 48.28%，占公司总股本 18.18%， 对应融资 ...

Group 1 - The A-share consumer sector is experiencing fluctuations and adjustments, with significant declines in the beauty care, food processing, and beverage manufacturing sectors [1] - Lafang Home Products has seen a drop of over 7%, indicating a notable downturn in the beauty care segment [1] - Other companies such as Shuiyang Co., Nanjiao Food, Yanjinpuzi, Xiwang Food, Heizhima, and Youyou Food are also among those with significant declines [1]

Investment Rating - The report maintains a "Buy" rating on Horizon Robotics, reflecting a positive outlook on the smart driving sector driven by the AD/ADAS trend in China [2]. Core Insights - The report highlights that Black Sesame (2533.HK) is positioned to benefit from the growing demand for AD/ADAS technologies in China, with management targeting double-digit revenue growth in 2025 [1][7]. - The competitive landscape indicates that car OEMs are likely to continue diversifying their chipset suppliers, which will favor companies like Black Sesame and Horizon Robotics that provide advanced automotive chipsets [2][8]. Summary by Sections 2025 Outlook - Black Sesame's A1000 SoC will be featured in Dongfeng's new model, the eπ 007, which boasts 58 TOPS computing power and over 20 smart driving assistance functions, including highway NOA navigation and long-range autonomous parking assistance [4]. Competition Dynamics - Management believes that developing chipsets in-house is challenging for car OEMs due to the time and cost involved, which positions Black Sesame favorably in the market [8]. - The company collaborates with third-party software suppliers to enhance its algorithm development, providing flexibility for customers in choosing software solutions [8]. Company Profile - Black Sesame specializes in AD/ADAS SoCs, offering a range of products such as the A1000 series and Wudang series, which are already adopted by major OEMs like Geely and Dongfeng [3].

Meeting Information - The annual general meeting of shareholders for Southern Black Sesame Group Co., Ltd. is scheduled for June 25, 2025, at 2:30 PM [1] - Shareholders can participate through on-site voting or online voting via the Shenzhen Stock Exchange systems [2][4] - Online voting will be available from 9:15 AM to 3:00 PM on the same day [1][7] Voting Procedures - Shareholders must choose either on-site or online voting, with duplicate votes being counted as the first submission [2][4] - All ordinary shareholders registered by the record date are entitled to attend and vote at the meeting [2][4] - Proxy voting is allowed, and the proxy does not need to be a shareholder of the company [2][4] Agenda Items - The meeting will include reports from independent directors regarding their performance for the year 2024, but these reports will not be subject to voting [4] - Other proposals for the meeting have been approved by the board and supervisory committee in previous meetings [4] Registration and Attendance - Shareholders must present identification and proof of shareholding to register for the meeting [5][6] - Registration can also be done via mail or email for remote shareholders [6] - The meeting will last half a day, and attendees are responsible for their own travel and accommodation expenses [6] Additional Information - Detailed voting procedures for online participation are provided in an attachment [7] - A proxy authorization form is available for shareholders wishing to delegate their voting rights [8]

Core Points - The company held its 2025 sixth temporary board meeting on May 29, 2025, with all nine directors present [1][2] - The board approved the proposal to convene the 2024 annual shareholders' meeting on June 25, 2025, using a combination of on-site and online voting [1][2] Summary by Sections - **Meeting Details** - The meeting was conducted in a hybrid format, combining in-person and communication methods [1] - Notification of the meeting was sent on May 26, 2025, through written, email, or phone methods [1] - All nine directors attended the meeting, along with supervisors and senior management [1] - **Voting Results** - The proposal to hold the annual shareholders' meeting received unanimous approval with 9 votes in favor, 0 against, and 0 abstentions [2]

证券代码：000716 证券简称：黑芝麻 公告编号：2025-027 南方黑芝麻集团股份有限公司 关于召开 2024 年年度股东大会的通知 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 南方黑芝麻集团股份有限公司（以下简称"公司"）于 2025 年 5 月 29 日召 开了第十一届董事会 2025 年第六次临时会议，根据本次会议决议，董事会决定于 2025 年 6 月 25 日召开公司 2024 年年度股东大会，现将有关事项通知如下： 一、召开会议基本情况 1、股东大会届次：2024 年年度股东大会（以下简称"本次股东大会"） （1）现场会议召开时间：2025 年 6 月 25 日（星期三）下午 2:30 开始。 （2）网络投票时间：通过深交所交易系统进行网络投票的时间为：2025 年 6 月 25 日 9:15-9:25、9:30-11:30，13:00-15:00；通过深交所互联网投票系统投票的 时间为：2025 年 6 月 25 日 9:15-15:00 期间的任意时间。 5、会议召开方式：本次股东大会采取现场投票与网络投票相结合的方式。 （1）现场投 ...

证券代码：000716 证券简称：黑芝麻 公告编号：2025-026 南方黑芝麻集团股份有限公司 第十一届董事会 2025 年第六次临时会议决议公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或者重大遗漏。 南方黑芝麻集团股份有限公司（以下简称"公司"）于 2025 年 5 月 29 日以 现场与通讯相结合的方式召开第十一届董事会 2025 年第六次临时会议（以下简 称"本次会议"），会议通知于 2025 年 5 月 26 日以书面直接送达、电子邮件或 电话方式通知全体董事。会议由董事长李玉珺先生主持，应出席会议的董事 9 人，实际出席会议的董事 9 人。公司监事及高级管理人员列席了本次会议。 本次会议的召集、召开、参会人数、表决程序符合《中华人民共和国公司法》 和《公司章程》有关规定，经与会董事对会议议案审议和表决形成了会议决议， 现公告如下： 审议并通过《关于召开公司 2024 年年度股东大会的议案》 公司董事会同意于 2025 年 6 月 25 日以现场投票与网络投票相结合的方式召 开公司 2024 年年度股东大会。 表决结果：同意 9 票，反对 0 票，弃权 ...

Group 1 - Goldman Sachs has a positive outlook on Hezhima Intelligent (02533) in relation to the development of intelligent driving, expecting double-digit revenue growth by 2025 due to the trends in AD/ADAS in China [1] - The company anticipates that automotive original equipment manufacturers (OEMs) will increasingly rely on efficient and cost-effective supply chains rather than developing in-house chipsets [1] - Horizon Robotics (09660) is projected to see revenue growth of 50% in 2025 and 121% in 2026, driven by the trends in AD/ADAS and the upgrade of its product portfolio to higher computing power chips [1] Group 2 - Hezhima announced that its A1000 SoC will be featured in Dongfeng's new model, the Fengshen 007, which includes over 20 intelligent driving assistance features and has a computing capability of 58 TOPS [2] - The management remains optimistic about its strength in automotive chipsets, noting that developing in-house chipsets is challenging for automotive OEMs due to the time required for design and development [2] - The company is collaborating with partners to develop algorithms and is leveraging third-party software suppliers to better understand the software market, allowing customers more flexibility in choosing software/algorithms [2]

Core Viewpoint - Goldman Sachs hosted a conference in Shanghai, where the management of Hezhima expressed optimism for 2025, anticipating double-digit revenue growth driven by the development of AD/ADAS trends in China [1] Group 1: Company Overview - Hezhima (2533.HK) is a supplier of AD/ADAS system-on-chip (SoC) products for automotive OEMs, offering various products including A1000/A1000L/A1000 Pro, A2000 series, and Wudang series, which provide features like NOA (Navigation on Autopilot) and smart cockpit [2] - The A1000 SoC has been adopted by major OEMs such as Geely and Dongfeng, with plans to expand its customer base [2] Group 2: 2025 Outlook - Hezhima announced that its A1000 SoC will be featured in Dongfeng's new model, the Fengshen 007, which boasts a computing power of 58 TOPS and includes over 20 smart driving assistance features, highway navigation, and LAPA (Remote Automatic Parking Assistance) [2] - The company aims to enter more major OEM supply chains and achieve double-digit revenue growth in 2025, supported by the growing AD/ADAS trends in China [2] Group 3: Competitive Dynamics - Management remains optimistic about its strength in automotive chipsets, noting that it is challenging for automotive OEMs to develop their own chipsets due to the time required for design, neural network processing unit (NPU) development, and the relatively small sales volumes of individual OEMs, which may not cover development costs [3] - The company continues to collaborate with partners to develop algorithms, including firms like Megvii, Deeproute.ai, and DJI, allowing for better insights into the software market and providing customers with flexible software/algorithm choices [3]