惠州市德赛西威汽车电子股份有限公司 证券代码：002920 证券简称：德赛西威 公告编号：2025-048 表决结果：9 票赞成，0 票反对，0 票弃权。表决结果：通过。 惠州市德赛西威汽车电子股份有限公司 第四届董事会第十一次会议决议公告 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。 一、董事会会议召开情况 惠州市德赛西威汽车电子股份有限公司（以下简称"公司"）第四届董事会第 十一次会议通知于 2025 年 6 月 6 日以电子邮件形式发出，并于 2025 年 6 月 9 日 以现场及通讯方式召开。本次会议由公司董事长高大鹏先生召集并主持，应到董 事 9 人，实到 9 人，其中董事姜捷先生、李兵兵先生和徐建先生以通讯方式参加。 本次会议召集和召开程序符合《公司法》等法律、行政法规、规范性文件以及《公 司章程》的规定。 二、会议审议情况 1. 审议通过《关于调整 2025 年股票期权激励计划授予激励对象名单的议案》 鉴于公司《2025 年股票期权激励计划（草案）》（以下简称"本次激励计划"） 中确定的 2 名激励对象自愿放弃本次拟授予的股票期权。根据公司 202 ...

Group 1 - The Chinese government is enhancing its focus on state-owned enterprises, directing capital towards key industries related to national security and public services [2] - The Shanghai Stock Exchange is promoting higher dividend payouts and increased frequency of dividends among listed companies to enhance investment value [1] - The Ministry of Industry and Information Technology is pushing for the integration of artificial intelligence in manufacturing to accelerate smart upgrades in key industries [1] Group 2 - Vanke A announced that Shenzhen Metro Group plans to provide a loan of up to 3 billion yuan to the company [2] - Longi Green Energy's shareholder HHLR plans to reduce its stake by up to 0.5% [3] - BlueFocus Communication Group is planning to issue H-shares and list on the Hong Kong Stock Exchange [2][3]

惠州市德赛西威汽车电子股份有限公司 证券代码：002920 证券简称：德赛西威 公告编号：2025-045 惠州市德赛西威汽车电子股份有限公司 关于公司股东减持股份预披露公告 股东惠州市创新投资有限公司、深圳市神华投资集团有限公司保证向公司提 供的信息披露内容真实、准确、完整，没有虚假记载、误导性陈述或重大遗漏。 本公司及全体董事会成员保证公告内容与信息披露义务人提供的信息一致。 惠州市德赛西威汽车电子股份有限公司（以下简称"公司"或"本公司"）于 2025 年 6 月 6 日收到公司持股 5%以上股东惠州市创新投资有限公司(以下简称"惠创 投"）出具的《关于公司股份减持计划的告知函》，惠创投因自身资金需求，计划 在本公告之日起 15 个交易日后的 3 个月内以集中竞价或大宗交易方式减持本公司 股份不超过 16,400,000 股，不超过公司当前总股本（不含公司已回购股份）的 3%。 （一）股东的基本情况 1、股东的名称：惠州市创新投资有限公司 2、股东持有的股份数量：截至本公告日，惠创投持有公司股份数量为 136,699,536 股，占公司当前总股本比例 24.63%。 （二）减持计划的主要内容 1、拟减持 ...

Group 1 - The Ministry of Industry and Information Technology is hosting a meeting to implement the "Artificial Intelligence + Manufacturing" initiative, aiming to accelerate the intelligent upgrade of key industries and enhance the supply capacity of software and hardware products, focusing on core technologies such as industrial software and intelligent sensors [1] - The Shanghai Stock Exchange is promoting listed companies to increase dividend payouts and frequency, utilizing tools like buybacks, mergers and acquisitions, and investor communication to enhance company investment value [1] - Huazhong University of Science and Technology's Tongji Medical College has launched the first brain-computer interface outpatient clinic in Central China, with a focus on the development and product launch of brain-computer interface technology and sales channel expansion [1] - AI search company Perplexity received 780 million queries in May, with a monthly growth rate exceeding 20%, and is developing a new Comet browser, with the CEO projecting weekly queries to reach 1 billion within a year [1] - Canadian Prime Minister Carney expressed willingness to restart relations with China, looking forward to resuming high-level exchanges and dialogues in diplomatic and economic fields [1] Group 2 - Longi Green Energy's shareholder HHLR plans to reduce its stake by no more than 0.5% [2] - Vanke A is set to receive a loan of up to 3 billion yuan from Shenzhen Metro Group [2] - Co-Creation Turf, which has seen five consecutive trading limit increases, is monitoring the uncertain impact of U.S. tariff policies [2] - Huamai Technology, with three consecutive trading limit increases, is focusing its business on communication infrastructure [2] - Desay SV's shareholders Huichuang Investment and Shenhua Investment plan to reduce their stakes by 3% and 1.45%, respectively [2]

Core Viewpoint - Desay SV Automotive (002920) announced that major shareholders Huizhou Innovation Investment Co., Ltd. and Shenzhen Shenhua Investment Group Co., Ltd. plan to reduce their holdings due to personal funding needs [1] Shareholder Reduction Plans - Huizhou Innovation Investment Co., Ltd. intends to reduce its stake by up to 16.4 million shares, representing 3% of the company's total share capital, within three months after 15 trading days from the announcement [1] - Shenzhen Shenhua Investment Group Co., Ltd. plans to reduce its stake by up to 7.9803 million shares, accounting for 1.45% of the company's total share capital, within three months after three trading days from the announcement [1] Pricing Mechanism - The reduction prices for both shareholders will be determined based on market prices [1]

惠州市德赛西威汽车电子股份有限公司 证券代码：002920 证券简称：德赛西威 公告编号：2025-044 惠州市德赛西威汽车电子股份有限公司 监事会关于公司 2025 年股票期权激励计划授予激励对象名单的公示 情况说明及核查意见 公司于 2025 年 5 月 24 日在公司内部网站对 2025 年股票期权激励计划拟授予 激励对象的姓名及职务进行了公示，公示时间为 2025 年 5 月 24 日至 2025 年 6 月 2 日。截至公示期满，公司监事会未收到任何员工对本次拟激励对象提出的异议。 本公司及监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（以下简称"公司"）于 2025 年 5 月 23 日召开的第四届董事会第十次会议、第四届监事会第十次会议审议通过了《关于公 司<2025 年股票期权激励计划（草案）>及其摘要的议案》等相关议案，具体详见公 司于 2025 年 5 月 24 日在巨潮资讯网（www.cninfo.com.cn）上披露的相关文件。 根据《上市公司股权激励管理办法》（以下简称"《管理办法》"）《深圳证券交易 所股票 ...

Group 1 - The Ministry of Industry and Information Technology and other departments have launched the 2025 New Energy Vehicle (NEV) initiative to promote NEV usage in rural areas, focusing on quality and reliable models [1] - The initiative includes exhibitions, test drives, and collaboration with after-sales service, charging service, insurance, and financial service companies to enhance the NEV ecosystem in rural regions [1] - Policies such as tax reductions and incentives for vehicle trade-ins will encourage manufacturers to expand their product offerings and improve service levels in rural markets [1] Group 2 - Dongxing Securities notes that the automotive industry is experiencing intensified competition, impacting profitability and cash flow, but leading companies are still showing improvements in net profit and operating cash flow [2] - The release of new vehicles during auto shows and the ongoing effects of new policies are expected to gradually improve the performance of automotive companies in the second quarter [2] - Recommended companies for investment include SAIC Motor, Jianghuai Automobile, BYD, Changan Automobile, and others within the automotive and related sectors [2]

Investment Rating - The report maintains an "Overweight" rating for the automotive and electronics sectors [6] Core Insights - The Robo X industry, represented by Robotaxi and Robovan, is experiencing accelerated commercialization driven by policy and industry resonance, with significant market attention due to multiple catalysts [10][11] - The global and China L4 autonomous driving market is projected to reach USD 15.35 trillion and USD 581 billion respectively by 2030, with a CAGR of 104% and 105% from 2025 to 2030 [10] - The report suggests focusing on core operational platforms, high-growth hardware suppliers, and innovative application scenario developers as investment opportunities [44] Summary by Sections Robotaxi - The commercialization of Robotaxi is accelerating, with leading companies like Pony.ai, WeRide, and Loongrun expanding fleet sizes and increasing order volumes [2][12] - Pony.ai's Robotaxi service revenue grew by 200% year-on-year in Q1 2025, while WeRide's revenue contribution reached 22.3%, up 10.4 percentage points year-on-year [2][19] - The policy environment is improving, with major cities expanding operational areas and refining license management, which lowers operational costs for companies [12][19] Robovan - Robovan is showing significant potential in logistics, with a positive cycle of "cost reduction-application validation-scale expansion" forming [3][23] - The hardware costs have drastically decreased, with models like the New Stone X3 dropping from CNY 200,000 to CNY 70,000, and the Jiushi Intelligent E6 model priced at CNY 19,800, a 91% reduction [3][23] - Major players are accelerating financing and production expansion, with Jiushi Intelligent targeting the delivery of 10,000 units in 2025 [3][24] Broader Applications - The Robo X concept extends beyond Robotaxi and Robovan to include applications like Robosweeper and Robotruck, which are also seeing accelerated commercialization [4][14] - Robosweeper has been deployed in multiple cities, reducing labor costs and improving operational efficiency [4][40] - Drone logistics is emerging as a key area, with significant potential in last-mile delivery and complex terrain transport, supported by favorable policies [41][42] Investment Opportunities - The report recommends focusing on core operational platforms that have achieved scalable operations and possess clear cost reduction paths, such as Pony.ai [44] - High-growth component suppliers in critical areas like lidar and high-performance chips are also highlighted as potential beneficiaries of the autonomous vehicle rollout [44] - Companies that integrate autonomous driving technology with specific industry applications, such as smart warehousing and last-mile delivery robots, are identified as innovative scenario developers [44]

Core Viewpoint - The digital economy theme index has shown a decline, with notable fluctuations in constituent stocks, indicating mixed performance in the sector [1][2]. Market Performance - As of May 30, 2025, the CSI Digital Economy Theme Index (931582) decreased by 1.45%, with constituent stocks showing varied performance [1]. - The Digital Economy ETF (560800) also fell by 1.74%, with the latest price at 0.73 yuan [1]. - Over the past week, the Digital Economy ETF's scale increased by 14.19 million yuan, ranking it in the top half among comparable funds [1][2]. - The ETF experienced a significant increase in shares, growing by 12 million shares in the past week, also placing it in the top half of comparable funds [2]. Fund Flow and Investment Trends - In the last five trading days, the Digital Economy ETF saw net inflows on three occasions, totaling 10.27 million yuan, with an average daily net inflow of 2.05 million yuan [2]. - Recent reports from Zhongyin International highlight that the National Development and Reform Commission has included industrial software upgrades in the "two new" policy support scope, suggesting a potential growth opportunity for the industrial software sector [2]. Top Holdings - As of April 30, 2025, the top ten weighted stocks in the CSI Digital Economy Theme Index accounted for 51.5% of the index, with notable companies including Dongfang Wealth (300059) and SMIC (688981) [3][4].

Macro Dynamics - The Chinese Ministry of Commerce urges the U.S. to completely eliminate unilateral tariffs, emphasizing that trade wars have no winners and protectionism leads to negative outcomes [1] - The Chinese Ministry of Foreign Affairs firmly opposes the U.S. decision to unjustly cancel Chinese student visas, stating it harms the legitimate rights of Chinese students and disrupts normal cultural exchanges between the two countries [2] Market Data - On May 29, the A-share market saw the ChiNext Index rise by 1.37%, with significant gains in digital currency and EDA concepts, as well as autonomous driving and innovative drug sectors [7] - The total market turnover reached 1.2 trillion yuan, an increase from the previous day's 1 trillion yuan, with over 4,400 stocks rising [7] - As of May 28, the total margin balance in the two markets increased by 2.95 billion yuan, with the Shanghai Stock Exchange's margin balance at 909.99 billion yuan and the Shenzhen Stock Exchange's at 883.23 billion yuan [8] Company Dynamics - Tesla's CEO Elon Musk announced that the Model Y autonomous driving vehicle will be delivered to customers in June, with successful testing on public roads in Austin [10] - Ideal Auto reported a total revenue of 25.9 billion yuan for Q1 2025, a year-on-year increase of 1.1%, and a net profit of 647 million yuan, up 9.4% year-on-year, with total vehicle deliveries of 92,900 units, reflecting a 15.5% increase [12]