


Core Viewpoint - Citic Securities indicates that the automotive intelligence industry chain is expected to benefit from the gradual improvement of laws and regulations related to autonomous driving [1] Group 1: Industry Developments - Shanghai is actively promoting the implementation of high-level autonomous driving [1] - During the 2025 World Artificial Intelligence Conference, the "Mosu Zhixing" action plan for high-level autonomous driving was released, outlining development goals for the city [1] - Leading Robotaxi companies such as Pony.ai and Baidu have obtained demonstration operation licenses and are beginning to offer paid services to the public [1] Group 2: Future Outlook - With the gradual improvement of laws and regulations related to autonomous driving, various segments of the industry chain are expected to accelerate technology research and product launches [1] - The automotive intelligence industry chain is anticipated to benefit from these advancements [1]