通信行业深度报告：智能汽车：算力与智能化融合，技术与价值量共进

Investment Rating - The report maintains an "Outperform" rating for the smart automotive industry [1] Core Insights - Digitalization drives the development of smart vehicles, enhancing corporate value and expanding the smart transportation space [2][4] - Huawei's entry into the automotive sector focuses on three areas: smart driving, smart cockpit, and smart connectivity [2][17] - The integration of intelligence brings value and incremental growth across various components, including lidar, onboard modules, and communication systems [2][9] Summary by Sections Digitalization of Smart Vehicles - The automotive industry is accelerating digitalization, which is becoming a consensus, with significant R&D investments from companies like BYD [5] - Digital technologies are enhancing the efficiency and value of design, development, and marketing processes in the automotive sector [5] Impact of Huawei on Smart Vehicle Manufacturing - Huawei's strategy in smart vehicle manufacturing emphasizes software, computing platforms, and sensors for smart driving [17][30] - The company has invested $3 billion in the smart automotive sector, with a dedicated R&D team of 7,000 [17] Value Increment from Intelligence - The value of vehicles is increasing as software and hardware replace traditional engines, with software value per vehicle expected to rise significantly by 2030 [9] - The smart transportation market is expanding rapidly, with significant project sizes and growth rates reported [12] Recommended Investment Targets - Suggested companies to watch include Juguang Technology, Feiling Kesi, and Meige Intelligent [2] Investment Recommendations - The report suggests focusing on the integration of digital technologies in the automotive sector, particularly in smart driving and connectivity solutions [2][17]