Zhi Tong Cai Jing·2025-04-30 01:09Group 1: Core Insights - Goldman Sachs recommends focusing on the GSCBCRTE index for resilient technology and the GSCBCSST index for companies with no U.S. exposure [1] - Nari Tech's performance exceeded expectations, with a projected revenue growth of 12% year-on-year by 2025, driven by strong backlog orders and annual outlook [1] - Despite potential tariff reductions, uncertainty remains, but many Chinese tech companies have independent momentum unaffected by geopolitical fluctuations [1] Group 2: Recommended Companies - Horizon Robotics is expected to strengthen its market leadership through upgrades to high-end driving functions [2] - Pony AI announced a strategic partnership with Tencent to focus on L4 autonomous driving technology and the large-scale commercialization of Robotaxi [2] - Naura reported a 40% year-on-year revenue increase, benefiting from increased capital expenditures from Chinese wafer fabs and IDM customers [2] - Kingsoft Office's revenue fell short due to weak local software spending, but it is seen as an early beneficiary of generative AI applications [2] Group 3: Companies with No U.S. Exposure - Goldman Sachs identified 11 Chinese tech companies with unique momentum and no U.S. exposure, including Horizon Robotics, Naura, and Pony AI [5][6]