Huachuang Securities·2025-05-25 09:57Investment Rating - The report maintains a "Recommendation" rating for the computer industry, expecting the industry index to rise more than 5% over the next 3-6 months compared to the benchmark index [45]. Core Insights - The penetration rate of advanced driving assistance systems (ADAS) is expected to accelerate, enhancing the competitiveness of automotive manufacturers. By 2025, the penetration rate of L2 and above intelligent driving functions in China is projected to reach 62%, with highway NOA at 10.8% and city NOA at 9.9% [8][20]. - The global layout of Robotaxi is accelerating, with significant progress in commercialization. Baidu's Robotaxi service, "萝卜快跑," achieved 1.4 million rides in Q1 2025, a 75% year-on-year increase, and plans to expand internationally [9][23]. - Automotive manufacturers are focusing on the iterative upgrade of intelligent driving assistance technologies, with several companies launching new models equipped with advanced sensors and computing platforms [10][29]. Summary by Sections Industry Weekly Viewpoint - The computer sector index decreased by 3.00% from May 19 to May 23, underperforming the ChiNext index by 2.12 percentage points [13]. Market Performance Review - The overall A-share market experienced a net outflow of 276.38 billion yuan, with the computer sector seeing a net outflow of 30.70 billion yuan during the same period [15]. Advanced Driving Assistance Systems (ADAS) - The competition in the ADAS market is intensifying, with a shift from price competition to enhancing product value and technological content. The focus is on rapid product launches and widespread coverage across different vehicle brands and models [19]. Robotaxi Commercialization - The report highlights the rapid expansion of Robotaxi services, with major players like Waymo and Tesla also advancing their commercial operations. The global market for Robotaxi is expected to grow significantly, driven by technological advancements and market openness [27]. Investment Recommendations - The report suggests focusing on companies benefiting from the acceleration of intelligent driving penetration, including Horizon Robotics, SUTENG, Desay SV, and others [11][34].