Orient Securities·2025-10-08 14:55Investment Rating - The industry investment rating is Neutral (maintained) [5] Core Insights - The sales and market share of Hongmeng Intelligent Driving models are expected to continue to rise, benefiting companies in the supply chain [2][3] - The report highlights the strong performance of Hongmeng Intelligent Driving models during the National Day holiday, with a total of 41,300 units booked from October 1-7, representing a 44% year-on-year increase [8] - The report anticipates that the introduction of national standards for intelligent assisted driving will further enhance the market share of vehicles equipped with Huawei's intelligent driving systems [8] Summary by Sections Investment Recommendations and Targets - The report suggests focusing on Hongmeng Intelligent Driving vehicles and related companies, with specific buy recommendations for SAIC Motor (600104), Yanchai Automobile (600418), and several component manufacturers including Yinlun Co. (002126), Xinquan Co. (603179), and others [3] - The report notes that multiple new models are set to launch, which is expected to drive sales and market share upward [3] Market Performance - The report indicates that the high-end and luxury segments of Hongmeng Intelligent Driving models are leading in market share, with significant bookings for models like the Zun Jie S800 and Wanjie M9 [8] - The report projects that by 2026, the product matrix of Hongmeng Intelligent Driving will be further enhanced, allowing for a more comprehensive market presence in the mid-to-high-end new energy vehicle sector [8] Regulatory Developments - The report discusses the upcoming mandatory national standards for intelligent connected vehicles, which are expected to be implemented on January 1, 2027, and how this will impact the market dynamics for L2 level assisted driving systems [8]