Core Viewpoint - Desay SV Automotive has provided auxiliary driving domain control products to several major automotive clients, indicating its strong position in the automotive technology sector [1] Company Summary - Desay SV Automotive's auxiliary driving domain control products are currently supporting models from clients such as Li Auto, Xpeng Motors, Zeekr, Great Wall Motors, GAC Aion, and Lotus [1]

| 交易日期 | 证券代码 | 证券简称 | 成交价格 | 成交量 | 成交全额 | 买方营业部 | 卖方营业部 | | --- | --- | --- | --- | --- | --- | --- | --- | | | | | (元) | (万股/万份) | (万元) | | | | 2025-08-05 | 002920 | 德赛西威 | 93.39 | 10.70 | 999.27 | 华泰证券股份有限 | 华泰证券股份有限 | | | | | | | | 公司重庆江北嘴证 | 公司上海浦东新区 | | | | | | | | 券营业部 | 滨江大道证券营业 | 8月5日，德赛西威大宗交易成交10.7万股，成交额999.27万元，占当日总成交额的1.93%，成交价93.39元，较市场收盘价 103.31元折价9.6%。 ...

金融界2025年8月5日消息，国家知识产权局信息显示，惠州市德赛西威汽车电子股份有限公司申请一项 名为"一种汽车召唤定位方法、汽车召唤方法及汽车召唤系统"的专利，公开号CN120412310A，申请日 期为2025年04月。 专利摘要显示，本申请提供一种汽车召唤定位方法、汽车召唤方法及汽车召唤系统；所述汽车召唤定位 方法包括：基于移动通讯设备采集到的目标用户的周围图像数据获得图像特征描述符，并根据图像特征 描述符与预先基于目标区域的环境数据构建的车载记忆地图进行匹配，以根据匹配结果获得移动通讯设 备相对于所述车载记忆地图的位姿；进一步基于位姿获得目标用户的当前位置坐标。 天眼查资料显示，惠州市德赛西威汽车电子股份有限公司，成立于1986年，位于惠州市，是一家以从事 计算机、通信和其他电子设备制造业为主的企业。企业注册资本55494.9301万人民币。通过天眼查大数 据分析，惠州市德赛西威汽车电子股份有限公司共对外投资了24家企业，参与招投标项目109次，财产 线索方面有商标信息132条，专利信息2784条，此外企业还拥有行政许可174个。 ...

Summary of Key Points from the Conference Call Industry Overview - The conference call focuses on the **smart driving** industry, particularly the advancements in **AI-driven autonomous driving technology** and its implications for the automotive sector [1][5][8]. Core Insights and Arguments - **Market Potential**: By 2030, global sales of L2+ level vehicles are expected to reach **26 million units**, indicating significant market potential comparable to the current light vehicle market in the US or EU [1][2]. - **Market Size**: The global smart driving hardware and software market is projected to reach **$200 billion** by 2030, with further growth to **$300-400 billion** by 2035, where hardware will account for approximately **70%** of the market [1][3]. - **Driving Factors**: Three main factors are identified as catalysts for the development of autonomous driving technology: breakthroughs in **generative AI**, cost reduction through **East-West economic cooperation**, and the establishment of **government and industry standards** [1][5]. - **Broader Impact**: Smart driving technology is expected to transform not only passenger and commercial vehicles but also reshape traffic operation models and expand into new transportation solutions like humanoid robots and electric vertical takeoff and landing vehicles [1][8]. Key Companies and Competitive Landscape - **Leading Companies**: Companies like **Tesla**, **Xpeng**, and **Li Auto** are making significant strides in autonomous driving through rapid algorithm iterations and resource investments, potentially extending their technological advancements into robotics and flying vehicles [1][10][11]. - **Emerging Competitors**: **Xiaomi** is rapidly catching up in the autonomous driving sector, focusing on R&D and algorithm development, although it still needs to reach the top tier of technology in China [4][14][16]. Supply Chain and Regulatory Environment - **Global Supply Chain**: The speed of technology adoption is influenced by whether global automakers choose competition or cooperation. A cooperative approach can lower costs and accelerate the adoption of AI-driven technologies [6]. - **Regulatory Impact**: As autonomous driving technology advances, governments are eager to establish standards and regulations, which will provide a solid foundation for long-term development and help identify industry leaders [7]. Implications for Component Suppliers - **Growth Opportunities**: The acceleration of **ADAS (Advanced Driver Assistance Systems)** penetration is expected to significantly boost the business of component suppliers like **BYD Electronics**, **Sunyu**, and **O-Film**, with rapid growth in demand for domain control systems and cameras [4][17][18]. - **Challenges for Traditional Suppliers**: Traditional automotive component companies are also benefiting from the rise of smart driving technologies, but they face challenges such as price pressures from automakers [19]. Future Trends - **Technological Evolution**: The development of autonomous driving technology is progressing from L2 to L2+ and L3 levels, with expectations of reaching higher levels in the medium to long term [10]. - **Investment Opportunities**: The report identifies a list of "smart driving 60" companies that are expected to play a crucial role in the future of AI-driven autonomous driving, presenting potential investment opportunities [9]. Conclusion - The smart driving industry is on the brink of significant transformation, driven by technological advancements, regulatory support, and evolving market dynamics. Companies that adapt quickly and innovate will likely emerge as leaders in this rapidly changing landscape.

Core Viewpoint - The artificial intelligence (AI) sector is experiencing positive momentum, with significant growth in the AI ETF and its underlying index, reflecting strong performance among key companies in the industry [1][4]. Group 1: Market Performance - As of August 5, 2025, the CSI Artificial Intelligence Industry Index (931071) increased by 0.62%, with notable gains from companies such as Zhongke Xingtou (688568) up 4.70% and Ecovacs (603486) up 3.41% [1]. - The AI ETF (515980) saw a 0.43% increase, with a trading volume of 41.81 million yuan and a turnover rate of 1.26% [3]. Group 2: ETF Metrics - The AI ETF's latest scale reached 3.29 billion yuan, with a one-year net value increase of 59.57%, ranking 236 out of 2948 index equity funds, placing it in the top 8.01% [3]. - The ETF has a management fee of 0.50% and a custody fee of 0.10%, with a tracking error of 0.018% year-to-date [3]. Group 3: Index Composition - The CSI Artificial Intelligence Industry Index comprises 50 representative listed companies, with the top ten stocks accounting for 61.26% of the index [4][6]. - Key companies in the index include Xinyi Sheng (300502), Cambricon (688256), and iFlytek (002230), with respective weights of 7.36%, 3.97%, and 6.63% [6]. Group 4: Industry Outlook - Major North American cloud providers like Microsoft, Amazon, Google, and Meta have reported earnings exceeding market expectations, maintaining high capital expenditures to support AI infrastructure [4]. - The AI sector in the A-share market is expected to remain robust, potentially driving continued positive performance in the financial technology sector [4]. Group 5: Investment Opportunities - The AI ETF uniquely balances computing power and application sectors, with both accounting for 50% of the index, and includes segments with high growth potential such as autonomous driving and robotics [6][7]. - Investors can also consider the Huafu AI ETF linked funds (A class 008020, C class 008021) for exposure to high-purity AI business stocks while avoiding speculative trading [8].

Group 1: Liquidity and Scale of AI ETF - The AI ETF has a turnover rate of 2.52% with a half-day trading volume of 81.81 million yuan, and an average daily trading volume of 269 million yuan over the past week as of August 1 [2] - The latest scale of the AI ETF reached 3.261 billion yuan, with leveraged funds continuing to invest, showing a financing buy-in amount of 19.96 million yuan and a financing balance of 88.20 million yuan [2] - The AI ETF has seen a net value increase of 53.17% over the past year, ranking 260 out of 2944 index equity funds, placing it in the top 8.83% [2] Group 2: Performance Metrics - Since its inception, the AI ETF has recorded a highest monthly return of 30.38%, with the longest consecutive monthly gains being 3 months and the longest cumulative gain reaching 43.97%, averaging a monthly return of 6.94% during rising months [2] - The AI ETF closely tracks the CSI Artificial Intelligence Industry Index, which selects 50 representative listed companies based on their AI business proportion, growth level, and market capitalization [2] Group 3: Key Holdings and Market Trends - As of July 31, 2025, the top ten weighted stocks in the CSI Artificial Intelligence Industry Index account for 61.26% of the index, with notable companies including Xinyi Sheng, Cambricon, and iFlytek [3] - The anticipated release of GPT-5 by OpenAI, expected in early August, will include three versions, enhancing capabilities in understanding and processing complex information [3] - The ongoing performance growth of AI-driven overseas tech companies and the acceleration of AI application monetization in China highlight the investment value in the domestic AI chain [3] Group 4: Investment Strategy and Focus Areas - The Huafu AI ETF (515980) is unique in its quarterly rebalancing and exclusive tracking of the AI industry index, balancing computing power and applications at 50% each [5] - The index includes sectors with strong commercialization potential in AI applications such as autonomous driving, robotics, and smart wearables, each holding a 5% weight [6] - Investors can also consider the Huafu AI ETF linked funds (Class A 008020, Class C 008021) to gain exposure to high-purity AI business stocks while avoiding speculative trading [7]

Core Viewpoint - Desay SV Automotive experienced significant trading activity on August 1, with a total of 346,500 shares traded at a transaction value of 32.0341 million yuan, reflecting a discount of 10.17% compared to the closing price of 102.92 yuan [2] Trading Activity Summary - On August 1, there were 7 transactions on the block trading platform for Desay SV, with a total trading volume of 346,500 shares and a total transaction amount of 32.0341 million yuan [2] - The average transaction price was 92.45 yuan, which is 10.17% lower than the closing price of the day [2] - Institutional proprietary seats participated in 6 of the transactions, with a total transaction amount of 12.0649 million yuan, indicating a net purchase of the same amount [2] Recent Trading Trends - Over the past three months, Desay SV has recorded a total of 55 block trades, amounting to 398 million yuan [2] - The stock closed at 102.92 yuan on the day of the report, showing an increase of 1.31%, with a turnover rate of 1.02% and a total transaction value of 577 million yuan [2] - The stock has seen a net inflow of 12.1527 million yuan in main funds for the day, but has declined by 1.46% over the past five days, with a total net outflow of 38.9845 million yuan [2] Margin Financing Data - The latest margin financing balance for Desay SV is 1.011 billion yuan, which has increased by 75.7246 million yuan over the past five days, representing an increase of 8.10% [2]

Summary of Key Points Core Viewpoint - On August 1, 2025, Desay SV's block trade involved 346,500 shares with a transaction value of 32.0341 million yuan, accounting for 5.26% of the total trading volume for the day, with a transaction price of 92.45 yuan, representing a 10.17% discount compared to the market closing price of 102.92 yuan [1]. Transaction Details - The transaction on August 1, 2025, for Desay SV (stock code: 002920) had a transaction price of 92.45 yuan per share [2]. - The total trading volume for the day was 346,500 shares, with a total transaction amount of 32.0341 million yuan [1][2]. - The block trade was primarily executed by institutional buyers, with significant participation from various brokerage firms [2].

Core Viewpoint - Desay SV's collaboration with Chery for the Fengyun A9L model showcases significant advancements in automotive intelligence, particularly with the launch of lightweight auxiliary driving domain controllers and the fourth-generation flagship intelligent cockpit domain controllers, marking a key technological breakthrough in the industry [1] Company Summary - Desay SV has equipped the Chery Fengyun A9L with a series of intelligent products, including an intelligent display system and auxiliary driving cameras [1] - The lightweight auxiliary driving domain controller and the fourth-generation flagship intelligent cockpit domain controller have achieved global mass production for the first time [1] Industry Summary - The automotive industry is experiencing a critical technological breakthrough in the field of intelligence, as evidenced by the advancements made by Desay SV [1]

Group 1 - The Shanghai Composite Index decreased by 0.37%, while the CSI 300 Automotive Parts Index reported at 5704.23 points [1] - The CSI 300 Automotive Parts Index has declined by 2.74% over the past month, 4.62% over the past three months, and 10.06% year-to-date [1] - The CSI 300 Index categorizes its 300 sample stocks into 11 primary industries, 35 secondary industries, over 90 tertiary industries, and more than 200 quaternary industries [1] Group 2 - The CSI 300 Automotive Parts Index has a market composition of 87.97% from the Shanghai Stock Exchange and 12.03% from the Shenzhen Stock Exchange [1] - Within the CSI 300 Automotive Parts Index, the industry breakdown shows that interior and exterior automotive parts account for 56.43%, system components for 17.07%, tires for 14.47%, and automotive electronics for 12.03% [1] Group 3 - The index samples are adjusted biannually, with adjustments occurring on the next trading day after the second Friday of June and December [2] - Weight factors are generally fixed until the next scheduled adjustment, but can change with temporary adjustments due to special events affecting sample companies [2] - Companies that are delisted or undergo mergers, acquisitions, or splits will be handled according to specific calculation and maintenance guidelines [2]