Core Viewpoint - The company, Hezhima, maintains a strong cooperative relationship with relevant banks, ensuring normal operations and good sales performance in its beverage business [1] Group 1 - The company confirmed that its production and operational activities, including the beverage business, are running normally [1] - Sales performance is reported to be good, with effective product movement and collection of sales receivables [1] - The company has sufficient operating liquidity and does not face any overdue loan repayment issues [1]

1、本次担保是公司下属的全资子公司南方黑芝麻（广西）投资有限公司（以 下简称"黑芝麻投资"）为公司下属的控股子公司南方黑芝麻（广西）健康粮仓 工厂有限公司（以下简称"健康粮仓工厂"）不超过 20,000 万元额度的银行综 合用信提供最高额抵押担保。 2、公司及控股子公司的对外担保总额已超过公司最近一期经审计净资产的 50%，本事项尚需提交公司股东大会审议。 一、担保情况概述 （一）本次担保基本情况 南方黑芝麻集团股份有限公司（以下简称"公司"）下属控股子公司健康粮 仓工厂 2025 年度在中国邮政储蓄银行股份有限公司广西壮族自治区玉林市分行 （以下简称"邮储银行玉林分行"）的综合授信额度为 20,000 万元人民币（下 同），其本次向邮储银行玉林分行申请使用前述年度用信不超过 20,000 万元， 该用信可以办理流动资金贷款、银行承兑汇票、开立国内信用证等，具体金额、 期限以签订的借款合同为准，借款期限不超过 1 年。 健康粮仓工厂申请由公司下属的全资子公司黑芝麻投资以其持有的位于南 宁市青秀区凤翔路 20 号不动产[产权证号：桂（2025）南宁市不动产权第 0335767 号等 342 处房产]为其不超过上 ...

证券代码：000716 证券简称：黑芝麻 公告编号：2025-051 南方黑芝麻集团股份有限公司 第十一届董事会 2025 年第七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 9 月 14 日以现 场与通讯相结合的方式召开十一届董事会 2025 年第七次临时会议（以下简称"本 次会议"），本次会议通知已于 2025 年 9 月 11 日以书面送达或电子邮件方式发送 至全体董事。本次董事会现场会议在广西南宁市凤翔路 20 号黑芝麻大厦 20 楼公司 会议室召开，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；公司监事会成员及高级管理人员列席了本次会议。 本次会议召集、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。经对会议议案审议和表决形成会议决议，现公告如下： 健康粮仓工厂同时申请由公司下属的全资子公司南方黑芝麻（广西）投资有限 公司（以下简称"黑芝麻投资"）以其持有的位于南宁市青秀区凤翔路 20 号不动 产产权 ...

Group 1 - The company Black Sesame (SZ 000716) held its seventh temporary board meeting on September 14, 2025, to discuss the proposal for the fourth temporary shareholders' meeting of 2025 [1] - For the first half of 2025, Black Sesame's revenue composition was as follows: 65.6% from the food industry, 31.97% from e-commerce, and 2.43% from other businesses [1] - As of the report date, Black Sesame's market capitalization was 5 billion yuan [1]

证券代码：000716 证券简称：黑芝麻 公告编号：2025-053 南方黑芝麻集团股份有限公司 关于召开 2025 年第四次临时股东大会的通知 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 9 月 14 日召 开了第十一届董事会 2025 年第七次临时会议，根据本次会议决议，董事会决定于 2025 年 10 月 10 日召开公司 2025 年第四次临时股东大会，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：2025 年第四次临时股东大会（以下简称"本次股东大会"） 2、股东大会的召集人：公司董事会 3、会议召开的合法、合规性：本次股东大会的召开符合有关法律、行政法规、 部门规章、规范性文件、深圳证券交易所（以下简称"深交所"）业务规则和《公 司章程》的规定。 4、会议召开日期和时间： （1）现场会议召开时间：2025 年 10 月 10 日（星期五）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 10 月 10 日 9:15 ...

Core Insights - The 2025 IAA Mobility exhibition in Munich showcased the advancements in smart automotive technology, with Hezhima Intelligent presenting its innovative solutions for AI-driven smart vehicles [2] - Hezhima Intelligent introduced its safety intelligent foundation solution, which utilizes the Wudang C1200 family of cross-domain integration chips to enhance vehicle safety and reduce development costs [2] - The company emphasized the importance of integrating electronic and electrical architectures to facilitate seamless upgrades from entry-level to flagship models [2] Group 1 - Hezhima Intelligent's Wudang C1200 family of chips is central to its safety intelligent foundation solution, providing hardware security isolation and compatibility throughout the product lifecycle [2] - The Wudang C1200 solution aims to significantly lower development costs and shorten development cycles for automotive manufacturers [2] - The company is collaborating with leading global automotive firms to explore the future of smart vehicles powered by AI [2] Group 2 - The Huashan A2000 chip family was highlighted for its high performance and efficiency, integrating multiple functional units for advanced AI applications [3] - The Huashan A2000 platform supports a robust driving assistance technology foundation, ensuring optimal performance and flexibility [3] - Hezhima Intelligent's Wudang C1236 and C1296 chips are recognized for their capabilities in navigation assistance and multi-domain integration, respectively [3] Group 3 - The C1296 cross-domain integration solution has gained market recognition, with plans for mass production in multiple new models from Dongfeng Motor by the end of 2025 [4] - The Huashan A1000 family also showcased a mature software ecosystem, with successful applications in various vehicle models [4] - Hezhima Intelligent's dual-driven model of chips and solutions aims to provide cost-effective and reliable driving assistance technologies for the automotive industry [4]

Group 1 - The 2025 IAA Mobility exhibition in Munich showcased Hezhima Intelligent's advanced chip products and solutions for integrated cockpit and high-level assisted driving [1] - Hezhima Intelligent launched the "Safe Intelligent Base" solution, centered around the Wudang C1200 family of cross-domain integration chips, aimed at providing seamless upgrades for automotive companies from entry-level to flagship models [1] - The solution is designed to significantly reduce development costs, shorten development cycles, and enhance product competitiveness for automotive manufacturers [1] Group 2 - Hezhima Intelligent has established partnerships with leading companies, including Aptiv, to commercialize the Wudang C1296 chip-based integrated cockpit solution, which is expected to reach mass production by the end of 2025 [2] - The Huashan A1000 family of chips has already been integrated into multiple models from brands such as Geely, Lynk & Co, and Dongfeng [2]

Group 1 - The 2025 IAA Mobility exhibition in Munich showcased Black Sesame Intelligence's various chips and solutions, focusing on AI-driven smart vehicles [1] - Black Sesame introduced the "Safe Intelligent Foundation" solution, which utilizes the Wudang C1200 family of cross-domain integration chips to address safety and cost challenges in automotive cross-domain integration [1][2] - The Wudang C1200 family includes the C1236, the first domestic SoC chip supporting navigation-assisted driving, and the C1296, the industry's first multi-domain integration computing chip [2] Group 2 - The Huashan A2000 chip sample was a highlight, integrating CPU and NPU functionalities, and is designed to support advanced driver assistance systems and robotics [1][2] - The production results of the Huashan A1000 family have been successfully implemented in multiple vehicle models, including Geely Galaxy E8 and Dongfeng Yipai eπ007 [2] - Black Sesame aims to drive innovation and global collaboration in the automotive industry by providing cost-effective and reliable advanced driving assistance technology [2]

Core Viewpoint - The report from浦银国际 highlights the growing importance of intelligent driving chips in the automotive industry, particularly as the sector transitions into a new phase of development, with a focus on smart assisted driving as a core feature [1] Industry Summary - The intelligent driving chip industry is positioned as a high-value segment within the automotive supply chain, driven by advancements in smart driving technologies [1] - By 2025, Chinese automakers are expected to push for "intelligent driving equality," leading to a decrease in the price range of models equipped with high-speed NOA [1] - Leading new energy vehicle companies are advancing algorithm evolution based on end-to-end architecture, which will promote both volume and price increases for intelligent driving chips [1] Company Summary - The report initiates coverage on Horizon Robotics (09660) and Hezhima (000716), both receiving "Buy" ratings with target prices set at HKD 12 and HKD 21.4 respectively [1] - Local intelligent driving chip suppliers are expected to gain market share due to their cost-effective products and production experience, benefiting from the trend of domestic substitution [1] Market Data - According to Frost & Sullivan, the global automotive-grade SoC market reached RMB 57.9 billion in 2023 and is projected to grow to RMB 205.3 billion by 2028, with a compound annual growth rate (CAGR) of 29% [1] - In China, the automotive-grade SoC market size was RMB 26.7 billion in 2023, expected to increase to RMB 102 billion by 2028, capturing 50% of the global market share [1]

Core Viewpoint - The report from浦银国际 highlights the growing importance of intelligent driving chips in the automotive industry, particularly as the sector transitions into the second half of the new energy vehicle (NEV) development phase [1] Industry Summary - The intelligent driving chip industry is receiving an "overweight" rating, indicating strong growth potential as it becomes a core component of intelligent driving functions in vehicles [1] - The global automotive-grade SoC market is projected to grow from 57.9 billion RMB in 2023 to 205.3 billion RMB by 2028, with a compound annual growth rate (CAGR) of 29% [1] - China's automotive-grade SoC market is expected to increase from 26.7 billion RMB in 2023 to 102 billion RMB by 2028, capturing 50% of the global market share [1] Company Summary - The report initiates coverage on Horizon Robotics (09660) and Black Sesame Technologies (02533), both receiving "buy" ratings with target prices set at 12 HKD and 21.4 HKD respectively [1] - Domestic intelligent driving chip suppliers are anticipated to expand their market share rapidly, benefiting from competitive pricing and production experience, alongside the trend of domestic substitution [1] - The report emphasizes that both independent Chinese automakers and leading NEV companies are driving advancements in intelligent driving technology, which will enhance the demand for intelligent driving chips [1]