GXSH(SZ:000716) Xin Lang Cai Jing·2025-09-30 04:31Core Viewpoint - The smart driving chip industry is experiencing a shift towards "urban NOA," with a trend of "explosive demand but technological convergence," leading to a concentration of players towards the top tier [2][6]. Group 1: Market Expansion - Black Sesame Intelligence is focusing on three main directions for market expansion in 2025: deepening cooperation with existing clients, accelerating the introduction of new platforms and customer reserves, and promoting an overseas strategy [5]. - The company is enhancing collaboration with existing clients, transitioning from early product shipments to new projects with the Wudang series chips, which have gained customer recognition [5]. - The A2000 chip is set to provide samples to clients soon, with many clients having completed preliminary designs, indicating a rapid transition to project phases after chip delivery [5]. - Black Sesame's collaboration with Chery has officially started, with more vehicle projects expected to follow [5]. Group 2: Technological Path - The industry is showing a significant trend of convergence, with a decreasing number of participants and a unification of technology paths [6][8]. - The rapid iteration of smart driving technology has raised industry entry barriers, requiring chip companies and solution providers to possess strong technical capabilities and deep collaboration with clients [8]. - The focus of next-generation technology is shifting towards urban NOA, with mainstream technical routes becoming more aligned [8]. Group 3: Brand Strategy - Black Sesame Intelligence is not pursuing a direct consumer brand strategy but is instead focusing on empowering B-end clients, recognizing the challenges of building a consumer brand in the automotive sector [9][10]. - The company aims to concentrate resources on product development and customer service rather than on consumer brand building until its core strategic direction is fully realized [10]. - The differentiation from competitors lies in its commitment to an open platform strategy while maintaining a core focus on being a chip company [10][12].