惠州市德赛西威汽车电子股份有限公司 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记 载、误导性陈述或重大遗漏。 关于持股 5%以上股东持股比例被动变化超过 1%的公告 一、本次权益变动基本情况 根据中国证券监督管理委员会出具的《关于同意惠州市德赛西威汽车电子股 份有限公司向特定对象发行股票注册的批复》（证监许可〔2025〕315 号），惠 州市德赛西威汽车电子股份有限公司（以下简称"公司"）向 21 名特定对象发行 A 股股票（以下简称"本次发行"）41,893,333 股，新增股份的股份登记手续已 在中国证券登记结算有限责任公司深圳分公司办理完毕，新增股份将于 2025 年 10 月 24 日在深圳证券交易所上市，公司总股本由 554,949,301 股增加至 596,842,634 股。 公司持股 5%以上股东广东德赛集团有限公司（以下简称"德赛集团"）未 参与本次发行认购，持股数量未发生变化，但因公司总股本变化，其持股比例由 28.31%被动变化至 26.32%。 | 1.基本情况 | | | --- | --- | | 信息披露义务人 | 广东德赛集团有限公司 | | 住所 | 广东 ...

证券代码：002920 证券简称：德赛西威 公告编号：2025-075 特此公告。 惠州市德赛西威汽车电子股份有限公司 惠州市德赛西威汽车电子股份有限公司 关于向特定对象发行股票上市公告书披露的提示性公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记 载、误导性陈述或重大遗漏。 惠州市德赛西威汽车电子股份有限公司《2024 年度向特定对象发行 A 股股 票上市公告书》及相关文件已于同日在巨潮资讯网（www.cninfo.com.cn）披露， 敬请广大投资者查阅。 2025 年 10 月 21 日 1 惠州市德赛西威汽车电子股份有限公司董事会 ...

证券简称：德赛西威 证券代码：002920 惠州市德赛西威汽车电子股份有限公司 2024 年度向特定对象发行 A 股股票 上市公告书 保荐人（联席主承销商） 联席主承销商 二〇二五年十月 1 3 公司全体董事、监事、高级管理人员声明 误导性陈述或重大遗漏，并对其真实性、准确性、完整性承担相应的法律责任。 高大鹏 姜 捷 李兵兵 罗 翔 邱耀文 徐建 罗中良 熊明良 徐焕茹 惠州市德赛西威汽车电子股份有限公司 年 月 日 2 本公司全体董事、监事及高级管理人员承诺本上市公告书不存在虚假记载、 全体董事签字： 4 5 4 6 本公司全体董事、监事及高级管理人员承诺本上市公告书不存在虚假记载、 误导性陈述或重大遗漏，并对其真实性、准确性、完整性承担相应的法律责任。 全体监事签字： 段拥政 夏志武 余孝海 惠州市德赛西威汽车电子股份有限公司 年 月 日 7 公司全体董事、监事、高级管理人员声明 8 公司全体董事、监事、高级管理人员声明 误导性陈述或重大遗漏，并对其真实性、准确性、完整性承担相应的法律责任。 章 俊 9 本公司全体董事、监事及高级管理人员承诺本上市公告书不存在虚假记载、 除董事以外的高级管理人员签字： ...

中信证券股份有限公司 关于 惠州市德赛西威汽车电子股份有限公司 2024年度向特定对象发行A股股票 之 上市保荐书 保荐人（主承销商） 广东省深圳市福田区中心三路 8 号卓越时代广场（二期）北座 二〇二五年十月 惠州市德赛西威汽车电子股份有限公司 2024 年度向特定对象发行 A 股股票 上市保荐书 深圳证券交易所： 中信证券股份有限公司（以下简称"中信证券"或"保荐人"）接受惠州市 德赛西威汽车电子股份有限公司（以下简称"德赛西威""发行人"或"公 司"）的委托，担任惠州市德赛西威汽车电子股份有限公司 2024 年度向特定对 象发行 A 股股票的保荐人。 保荐人及指定的保荐代表人根据《中华人民共和国公司法》（以下简称"《公 司法》"）、《中华人民共和国证券法》（以下简称"《证券法》"）、《上市公司证 券发行注册管理办法》（以下简称"《注册管理办法》"）、《证券发行上市保荐业 务管理办法》等有关法律、法规和中国证券监督管理委员会（以下简称"中国证 监会"）、深圳证券交易所（以下简称"深交所"）的有关规定，诚实守信，勤 勉尽责，严格按照依法制订的业务规则、行业执业规范和道德准则出具上市保荐 书，并保证所出具文件 ...

Investment Rating - The report maintains an "A" rating for the automotive parts sector, indicating a positive outlook for investment in this industry [1]. Core Insights - The automotive industry is experiencing rapid growth in intelligent driving technologies, with China leading the way. The penetration rate of intelligent vehicles in China reached 57.1% in 2023 and is expected to rise to 99.7% by 2030, with a market size exceeding one trillion yuan [1][14]. - The L2 level intelligent driving solutions have become mainstream, with a year-on-year growth of 37% in 2023. The market is expected to see significant increases in the penetration of L3 and above intelligent driving solutions, outpacing global growth rates [1][14]. - Domestic chip manufacturers are gaining traction, with companies like Horizon Robotics and Black Sesame Technology leading the charge in providing high-performance chips for intelligent driving applications [2][51][70]. Summary by Sections Automotive Intelligent Driving Market - The global intelligent driving market is rapidly expanding, with China achieving a penetration rate exceeding 50%. In 2023, the sales of intelligent vehicles in China reached 12.4 million units, accounting for 57.1% of total new car sales [14]. - The market for Advanced Driver Assistance Systems (ADAS) is continuously growing, with L2 and above solutions becoming the market standard. The expected market size for L0 to L2+ solutions is projected to grow from 90.9 billion yuan in 2024 to 223.9 billion yuan by 2029, with a CAGR of 19.7% [32][33]. Domestic Chip Development - The automotive chip market is substantial, with an estimated size of 71.2 billion yuan in 2024, expected to exceed 170 billion yuan by 2030. The demand for higher chip performance is increasing due to the ongoing electrification and intelligentization of vehicles [41]. - The ADAS SoC market reached 27.5 billion yuan globally and 14.1 billion yuan in China in 2023, with a projected CAGR of 27.5% and 28.6% respectively from 2023 to 2028 [46]. Key Players and Investment Opportunities - Horizon Robotics is positioned as a leading domestic supplier of intelligent driving chips, with its products expected to cover a wide range of intelligent driving applications. The company has seen significant revenue growth, with a projected revenue of 2.384 billion yuan in 2024 [66]. - Black Sesame Technology is also a key player, focusing on high-performance chips for various intelligent driving scenarios. The company aims to expand its market share in both mid-range and high-end markets, leveraging its cost advantages [70]. Investment Recommendations - Focus on companies benefiting from the dual increase in value and penetration in the intelligent driving chip segment, such as Horizon Robotics and Black Sesame Technology [6]. - The Tier 1 segment still has room for domestic replacement, with potential for deepening customer relationships through core products like domain controllers and sensors. Key companies to watch include Desay SV, Jingwei Hirain, and Qianli Technology [6].

Core Viewpoint - The company is focusing on consolidating its core business while actively seizing market opportunities and strategically positioning itself in new product and business areas [1] Group 1: Business Strategy - The company is leveraging its core technologies and systematic capabilities in the automotive electronics sector [1] - The company is committed to exploring and researching in the robotics field, building on its developments in smart driving domain control products, sensors, and algorithms [1]

德赛西威（002920.SZ）10月20日在投资者互动平台表示，公司主要提供汽车电子产品，客户群体主要 包括国内自主品牌车企、合资品牌车企与海外车企。 每经AI快讯，有投资者在投资者互动平台提问：公司有无和宇树有合作？ （文章来源：每日经济新闻） ...

Core Viewpoint - The digital economy theme index has experienced a decline, with significant movements in constituent stocks, while the government is promoting the cultivation of innovative enterprises in the digital economy sector [1][2]. Group 1: Market Performance - As of October 17, 2025, the CSI Digital Economy Theme Index (931582) fell by 2.39%, with major declines in stocks such as Desay SV Automotive (002920) and others [1]. - The digital economy ETF (560800) saw a trading volume of 16.07 million yuan, with a turnover rate of 2.36% [1]. - Over the past month, the average daily trading volume of the digital economy ETF was 31.11 million yuan [1]. Group 2: Share Growth - The digital economy ETF has seen a significant increase in shares, growing by 12 million shares over the past two weeks [1]. Group 3: Government Initiatives - On October 4, the National Development and Reform Commission and other departments issued measures to strengthen the cultivation of innovative enterprises in the digital economy, aiming to foster more "unicorn" and "gazelle" companies [1]. Group 4: Industry Outlook - Securities firms are optimistic about the continued stabilization and improvement of the fundamentals in advanced manufacturing and digital economy sectors, suggesting potential investment opportunities in technology growth companies and dividend assets [1][2]. - Financial analysts emphasize the importance of domestic opportunities in key areas such as advanced processes, AI computing chips, and semiconductor equipment, highlighting the potential for growth in domestic enterprises benefiting from localization [2]. Group 5: Index Composition - As of September 30, 2025, the top ten weighted stocks in the CSI Digital Economy Theme Index accounted for 54.31% of the index, with companies like Eastmoney (300059) and SMIC (688981) among the leaders [2].

Core Insights - The article highlights the active engagement of private equity firms in conducting research on listed companies, with a total of 2712 private equity firms researching 1490 stocks, resulting in 18,500 research instances since the beginning of the second half of the year [1][4]. Group 1: Private Equity Research Activity - The most active private equity firms include Shenzhen Shangcheng Asset Management with 291 research instances and Guangdong Zhengyuan Private Equity with 217 instances, covering 271 and 199 stocks respectively [2][1]. - Other notable firms include Qingli Investment and Pankin Investment, with 143 and 142 research instances respectively, both covering 130 stocks [1][2]. - A total of 45 private equity firms conducted between 50 to 100 research instances during the same period [1]. Group 2: Focus Areas of Research - The TMT (Technology, Media, and Telecommunications) sector is a primary focus, with 384 stocks researched, accounting for 25.77% of the total [4]. - Within the TMT sector, the electronics and computer industries had 207 and 118 stocks researched respectively, while the telecommunications and media sectors had fewer stocks at 38 and 21 [4]. - Other sectors with significant research interest include machinery and pharmaceuticals, with 200 and 179 stocks researched respectively [5]. Group 3: Market Performance - The average increase in the 31 Shenwan primary industry indices since the beginning of the second half of the year is 15.13% [5]. - Specific indices in the TMT sector, such as telecommunications, electronics, and power equipment, have seen increases exceeding 40% [5]. - The machinery and basic chemicals sectors also performed well, with increases of 24.16% and 16.47% respectively [5]. Group 4: Stock Performance - Among the 1490 stocks researched, 558 stocks saw price increases between 0%-20%, while 406 stocks increased between 20%-50%, together making up 64.7% of the total [7]. - A total of 44 stocks experienced price increases exceeding 100%, and 154 stocks increased between 50%-100% [7]. - Five stocks attracted over 100 private equity firms for research, including Maiwei Biotech and Mindray Medical, with respective price increases of 66.97% and 3.14% [8].

Core Viewpoint - Desay SV's stock price has shown significant fluctuations, with a year-to-date increase of 25.46% but a recent decline of 9.65% over the past five trading days [1] Group 1: Stock Performance - As of October 15, Desay SV's stock price rose by 2.02% to 136.64 CNY per share, with a trading volume of 724 million CNY and a turnover rate of 0.98%, resulting in a total market capitalization of 75.828 billion CNY [1] - The stock has experienced a year-to-date increase of 25.46%, a decline of 9.65% over the last five trading days, a rise of 12.93% over the last 20 days, and a 34.14% increase over the last 60 days [1] Group 2: Financial Performance - For the first half of 2025, Desay SV reported a revenue of 14.644 billion CNY, representing a year-on-year growth of 25.25%, and a net profit attributable to shareholders of 1.223 billion CNY, which is a 45.82% increase year-on-year [2] - The company has distributed a total of 2.237 billion CNY in dividends since its A-share listing, with 1.438 billion CNY distributed over the past three years [3] Group 3: Shareholder Information - As of June 30, 2025, the number of shareholders for Desay SV increased by 20.92% to 59,000, while the average number of tradable shares per shareholder decreased by 17.30% to 9,374 shares [2] - Among the top ten circulating shareholders, Hong Kong Central Clearing Limited holds 7.8128 million shares, a decrease of 5.5106 million shares from the previous period, while Huatai-PB CSI 300 ETF increased its holdings by 372,000 shares to 5.0757 million shares [3] Group 4: Business Overview - Desay SV, established on July 24, 1986, and listed on December 26, 2017, specializes in the research, design, production, and sales of automotive electronic products [1] - The company's revenue composition includes 64.59% from smart cockpits, 28.32% from intelligent driving, and 7.09% from connected services and others [1]