花旗分析师：参观上海车展后的新收获

Core Insights - The article discusses the participation of companies like Xiaomi, ThunderSoft, and NavInfo in an auto show, highlighting their product developments and market strategies. AAC (瑞声科技) is also noted for its first independent brand showcase after acquisitions and integrations. Xiaomi - Xiaomi's SU7 model has over 200,000 orders, with delivery timelines ranging from 4-7 months depending on the version, while the YU7 is set to launch between June and July 2024 [3] - Recent media coverage regarding a collision incident involving the SU7 has not affected its market launch schedule [3] AAC (瑞声科技) - AAC showcased its automotive products for the first time under its own brand, including acoustic systems, haptic feedback, optics, MEMS inertial sensors, and motor systems [2] - The company has received designated projects from domestic new energy vehicle clients and is focusing on diversifying its automotive product line to drive growth [2] ThunderSoft (中科创达) - ThunderSoft highlighted its latest AquaDriveOS system and AI solutions for smart cockpits at the auto show, indicating a strong focus on intelligent driving and cockpit technologies [4] - The company anticipates a rebound in demand for smart driving solutions in Q1 2025, with smart cockpit projects making up 90% of its current automotive solutions [4] NavInfo (四维图新) - NavInfo is positioning itself as a new type of first-tier supplier with capabilities in hardware systems and software development, focusing on high-precision mapping solutions [5] - The company has secured designated projects for basic driving products and smart cockpit solutions, with significant vehicle project numbers expected in 2024-2025 [5] Industry Trends - The article notes that the new regulations for autonomous driving may temporarily suppress the penetration of AD/ADAS technologies, but the long-term trend remains positive [1] - The localization of automotive chips is still a work in progress, but backup supply chain solutions are in place to mitigate potential supply risks [1]