智能网联驾驶月报（2024年10月）：交通信息化招标逐步起量，汽车智能化渗透率持续抬升

Investment Rating - The industry investment rating is "Buy" [3] Core Insights - The traffic informationization sector is gradually gaining momentum, with expectations for increased fiscal policy support. Historical trends indicate that policy benefits are the core driving force behind the traffic informationization sector's performance. Recent macroeconomic improvements and enhanced policy support for enterprises suggest a positive outlook for future fiscal initiatives. Micro-level data shows a good implementation of digital transformation in road and waterway transportation infrastructure, with a noticeable increase in project tenders starting from October. Multiple provincial projects have been initiated, and while the pace of tenders related to vehicle-road-cloud integration is slower, the large scale of these projects indicates that significant tenders may commence after the 2025 Q1 Two Sessions [1][21][35]. Summary by Sections 1. Traffic Informationization: Positive Trends Established, Tendering Gradually Increasing - The traffic informationization sector has been driven by policies such as the promotion of ETC and vehicle-road collaboration, with significant developments occurring from 2019 to 2024. Recent policies have focused on digital transformation in transportation infrastructure, with expectations for substantial investments in the sector [21][22][27]. 2. Updates on Core Hardware Penetration Rates in Automotive Intelligence - The penetration rates of core hardware in the intelligent driving domain are rapidly increasing. For instance, the number of laser radars reached 848,000 units from January to August 2024, marking a year-on-year growth of 254.8%. Domestic manufacturers dominate the laser radar and intelligent driving domain control markets, with Desay SV as the market leader holding a 23.9% market share [2][46][47][51]. 3. Investment Recommendations - The report suggests focusing on two main lines for investment: 1. Traffic informationization, with recommended companies including Jin Yi Technology, Tongxingbao, Wanjitech, and Qianfang Technology. 2. Core components and service providers for intelligent driving, with continued recommendations for Desay SV and Daotong Technology, and attention to companies like Zhongke Chuangda, Jingwei Hengrun, Hezhima Intelligent, Ruiming Technology, Hesai Technology, Suteng Juchuang, Juguang Technology, Siwei Tuxin, and Junsheng Electronics [2][30].