SINOLINK SECURITIES·2025-05-25 13:11Investment Rating - The report suggests a strong investment trend in the automotive sector, particularly in the areas of intelligent driving and robotics, indicating a bullish outlook for the ROBO+ sector [4]. Core Insights - The report highlights that the commercial window for Robotaxi has opened, with increasing passenger willingness to pay and cities willing to allow deployment, indicating a significant shift in the market dynamics [1][12]. - The introduction of Xiaomi's first SUV model, YU7, is expected to capture a significant market share in the mid-to-large pure electric SUV segment due to its long range and fast charging capabilities [1][9]. - WeRide's financial report shows a doubling of Robotaxi revenue share and accelerated global expansion, with operations in 10 cities across 3 continents [10][11]. - Xiaoma Zhixing's financial results indicate a strong growth trajectory for Robotaxi, with plans to scale its fleet to 1,000 units by the end of the year [12]. Summary by Sections Intelligent Driving - Xiaomi's YU7 SUV is positioned as a luxury high-performance model, with specifications indicating a competitive edge in the market [9]. - WeRide's Q1 2025 financials show total revenue of 72.4 million yuan, with a net loss of 385 million yuan, reflecting increased investment in autonomous driving [10][11]. - Xiaoma Zhixing reported a Q1 revenue of 102 million yuan, with Robotaxi business revenue growing over 200% [12]. - Tesla plans to launch its Robotaxi project in Austin, which is expected to reshape urban transportation [13]. - Dongfeng and Huawei signed a strategic cooperation agreement to enhance automotive intelligence and digitalization [14]. Robotics - Zhiyuan Robotics announced a significant breakthrough with the release of the EVAC world model and EWMBench evaluation benchmark, aimed at enhancing embodied intelligence research [25][29]. - RoboCare, in collaboration with Obsidian Technology, has developed a cognitive training system for elderly care, demonstrating practical applications of robotics in healthcare [30][34]. - Madi Technology has launched a smart care platform in partnership with major tech firms, focusing on integrating AI and robotics for elderly care [36]. - The report emphasizes the importance of core components in robotics, with several companies making strides in developing essential parts for robotic applications [41][42].