CHANGAN AUTOMOBILE-B(SZ:000625) Yang Zi Wan Bao Wang·2025-12-22 07:24Core Viewpoint - The issuance of the first L3-level autonomous driving license plate in China marks a significant milestone for Changan Automobile, indicating the start of the L3 autonomous driving era in the country and accelerating the development of intelligent connected vehicles nationwide [1][3]. Group 1: L3 Autonomous Driving License - The first L3-level autonomous driving license plate "渝AD0001Z" was awarded to Changan Automobile by the Chongqing Public Security Bureau on December 20 [1][3]. - L3 autonomous driving is defined as "conditional" automation, where the system takes over driving tasks in specific scenarios, requiring the driver to respond promptly when requested [3]. Group 2: Commercialization and Market Impact - The Ministry of Industry and Information Technology (MIIT) approved the first batch of L3 autonomous driving models, including Changan's Deep Blue SL03 and Arcfox Alpha S6, marking a transition from testing to commercial application [3]. - The license plate will be first installed on Deep Blue vehicles, with operational trials permitted on specific roads in Chongqing [3]. Group 3: Market Reaction - Following the announcement, several stocks in the intelligent driving sector, such as Gaode Infrared and Keda Control, experienced significant price increases, with multiple stocks hitting the daily limit [3][7]. - Analysts from Changjiang Securities and Huatai Securities suggest that the approval of L3 models will lead to a new phase in the mass production of intelligent connected vehicles, highlighting investment opportunities in areas such as intelligent driving algorithms, hardware, and Robotaxi platforms [7].