佑驾创新发布「小竹无人车」：正式进军无人物流行业，L4预期逐步兑现

Core Viewpoint - Youjia Innovation (2431.HK) launched its unmanned logistics brand "Xiao Zhu Unmanned Vehicle" on September 15, aiming to leverage advanced L4 technology to create value in diverse and complex scenarios [2][4]. Group 1: Product Launch and Features - The launch event featured industry leaders, including Horizon Robotics and RoboSense, highlighting the collaboration to enhance unmanned vehicle capabilities and drive efficiency in the logistics sector [6][10]. - The first two models, T5 and T8, were introduced, with T5 offering a cargo space of 5.5m³, a maximum load of 1000kg, and a range of 180km, targeting express delivery and retail [8]. - T8 provides a larger capacity of 8.5m³, a maximum load of 1700kg, and a range of 240km, suitable for urban distribution and industrial logistics [10]. Group 2: Technological Advancements - The unmanned vehicles utilize a multi-sensor fusion approach, including three LiDARs and eleven cameras, ensuring 360° visibility and precise road condition recognition [10]. - Youjia Innovation has developed core capabilities for the Xiao Zhu unmanned vehicles, including handling complex road conditions and autonomous navigation in various environments [10]. Group 3: Market Strategy and Partnerships - The company has established strategic partnerships with Shenzhen Postal and Eastern Bus, enhancing its logistics capabilities and community service [11]. - The launch event also marked the immediate delivery of the first batch of unmanned vehicles to partners, emphasizing a "release and deliver" strategy [11]. Group 4: Financial Performance and Future Outlook - Youjia Innovation's L4 autonomous driving business achieved significant revenue growth, surpassing ten million in the first half of 2025, with ongoing projects across multiple cities [15]. - The company has received positive market recognition, with Citic Lyon reaffirming a "outperform" rating and a target price of HKD 32 [15].