恒生港股通汽车主题指数由港股通范围内40只汽车产业链相关股票组成，覆盖港股整车龙头及智能化供 应链核心公司。港股通汽车ETF易方达（159121）等产品跟踪该指数，为投资者参与汽车产业智能化价 值重估过程提供了便捷工具。 有分析称，行业首个L4级初阶能力VLA大模型的推出，标志着技术端从"辅助驾驶"向"高级别自动驾 驶"的关键跨越。更重要的是，该套系统旨在同时满足个人用户与Robotaxi运营需求，从技术、产品到 商业模式，系统性地验证了智能驾驶的未来价值和变现路径，为整个产业的智能化估值提供了坚实锚 点。 1月8日，小鹏汽车在新品发布会上系统阐述了其"物理AI"战略及明确的量产规划，核心包括运用行业首 个实现L4级初阶能力的第二代VLA大模型，并于第一季度向多款新车推送；2026年开启运营Robotaxi 等。 ...

恒帅股份（300969.SZ）1月8日在投资者互动平台表示，公司的ADAS主动感知清洗系统是在相关领域 的前瞻性布局，部分客户已陆续进入定点环节。针对已定点项目，公司将根据投产进度陆续配置气液混 合式清洗系统25万套/年的产能。在未来高级别自动驾驶领域公司上述产品会有较好的市场前景，有望 成为公司未来重要增长动力之一。 （文章来源：每日经济新闻） 每经AI快讯，有投资者在投资者互动平台提问：2026年随着L3级自动驾驶开始放量，请问贵公司ADAS 主动感知清洗系统应收增长弹性如何？请大胆做个预测。 ...

Investment Rating - The industry investment rating is Neutral (maintained) [5] Core Insights - NVIDIA has launched an open-source autonomous driving model, Alpamayo, which is expected to enhance the penetration rates of high-level autonomous driving and Robo-X. This development is anticipated to benefit related vehicle manufacturers, component suppliers, and mobility service providers [3][9] - The Robo-X scale is expected to accelerate, with leading companies like LoBot and Pony.ai achieving or nearing single-vehicle breakeven points for their Robotaxi services. The deployment of Robovans is also increasing, with significant cost reductions in unmanned logistics vehicles [8] - NVIDIA is building a comprehensive autonomous driving ecosystem, which is likely to create growth opportunities for suppliers of autonomous driving hardware and software as demand for advanced components rises [8] Summary by Sections Investment Recommendations and Targets - Recommended stocks in the component sector include: - Jingwei Hirain (688326, Buy) - Bertel (603596, Buy) - Desay SV (002920, Buy) - Huayang Group (002906, Buy) - Coboda (603786, Buy) - Horizon Robotics (09660, Not Rated) - Hesai (02525, Not Rated) - Nexperia (01316, Not Rated) - Recommended stocks in the vehicle and mobility service sector include: - Xpeng Motors (09868, Not Rated) - Seres (601127, Not Rated) - Pony.ai (02026, Not Rated) [3][9]

证券日报网讯12月29日，欣锐科技（300745）在互动平台回答投资者提问时表示，公司的主营业务目前 聚焦于新能源汽车的车载电源产品的研发、生产和销售。对于高级别自动驾驶，公司不直接提供自动驾 驶算法或传感器等部件，但公司的车载电源产品能够灵活集成到不同整车厂的电气架构中，提供高效、 稳定的电力支持，为车企部署高级别自动驾驶系统提供便利的电源解决方案，是支持L3级及以上自动 驾驶系统可靠运行的关键底层硬件和供电保障。 ...

格隆汇12月29日丨欣锐科技(300745.SZ)在互动平台表示，公司的主营业务目前聚焦于新能源汽车的车 载电源产品的研发、生产和销售。对于高级别自动驾驶，公司不直接提供自动驾驶算法或传感器等部 件，但公司的车载电源产品能够灵活集成到不同整车厂的电气架构中，提供高效、稳定的电力支持，为 车企部署高级别自动驾驶系统提供便利的电源解决方案，是支持L3级及以上自动驾驶系统可靠运行的 关键底层硬件和供电保障。 ...

证券日报网12月24日讯，恒帅股份（300969）在接受投资者提问时表示，公司的ADAS主动感知清洗系 统是在相关领域的前瞻性布局，部分客户已陆续进入定点环节。针对已定点项目，公司将根据投产进度 陆续配置气液混合式清洗系统25万套/年的产能。在未来高级别自动驾驶领域公司上述产品会有较好的 市场前景，有望成为公司未来重要增长动力之一。 ...

证券代码：300969 证券简称：恒帅股份 宁波恒帅股份有限公司 投资者关系活动记录表 问题四：公司主动感知清洗系统产品的相关进展？ 答：公司的 ADAS 主动感知清洗系统是在相关领域的前 瞻性布局，部分客户已陆续进入定点环节。针对已定点项目， 公司将根据投产进度陆续配置气液混合式清洗系统 25 万套/ 年的产能。在未来高级别自动驾驶领域公司上述产品会有较好 的市场前景，有望成为公司未来重要增长动力之一。 问题五：公司毛利率波动情况，未来趋势情况？ 编号：2025-029 | | □特定对象调研 □分析师会议 | | --- | --- | | 投资者关系活动类 | □媒体采访 □业绩说明会 | | 别 | □新闻发布会 □路演活动 | | | 现场参观 | | | 其他（电话会议） 乾瞻资产：胡恺敏、汤卓凡；工银瑞信：袁路欣；财通证券： | | | 李浩时；大成基金：马越洋；中信资管：程骥腾；康曼德：刘 | | 参与单位名称及人 | 恒杰；博时基金：王轶林；博善资产：黄腾飞；国海证券：陈 | | 员姓名 | 飞宇；中信证券：李景涛、陈彦龙；浙商证券：吴婷婷；国金 | | | 证券：何冠男；汇正财经：古攀 ...

2、碳纤维 | 据上证报报道，全球碳纤维行业巨头日本东丽株式会社宣布，自2026年1月起，其王牌产品——碳纤维"东丽卡"及其中间加工品(如预浸料、织 物、层压板)的全球售价将上调10%至20%。 点评：研究机构认为，目前碳纤维行业正处于周期底部复苏阶段，经过前期价格深度调整与产能出清，行业供需格局逐步修复，价格已呈现筑底企稳迹象。 随着"反内卷"政策推动行业供给收缩与集中度提升,行业景气度有望持续改善。需求方面，呈现结构性回暖，风电领域增长强劲，航空航天持续复苏，低空 经济(如eVTOL、无人机)成为新的增长点。 明日主题前瞻 1、磷酸铁锂 | 据新浪财经报道，自12月上旬开始,新能源产业链迎来价格波动,其中磷酸铁锂正极材料生产厂商掀起集体提价潮。从多个渠道了解到,在即将迎 来2026年之际,多家磷酸铁锂企业开始和客户商谈价格,一些头部企业提出了提价诉求,涨幅集中在2000元-3000元/吨之间。部分企业甚至表示，涨价趋势预计 将持续至2026年第四季度。 点评：卓创资讯富宝锂电分析师苗敏表示,当前磷酸铁锂企业订单已排至2026年一季度，部分企业甚至暂停接单，其中高压实等高端产品供需结构持续偏 紧。供给端来看 ...

格隆汇12月9日丨浙江世宝(002703.SZ)在互动平台表示，公司的线控转向及后轮转向主要应用于高级别 自动驾驶汽车及豪华汽车上，该技术较低速物流车更先进、难度也更高。公司产品暂无应用于机器人。 ...

Report Industry Investment Rating There is no information provided in the report regarding the industry investment rating. Core Viewpoints - The convertible bond market is expected to follow the equity market and strengthen in an oscillatory manner, but due to increased market volatility and the continuation of the high - price characteristic of convertible bonds, attention should be paid to the defensive attributes of the portfolio and tail risks should be avoided. Layout can be made along the performance clues. The cost - effectiveness of new convertible bond subscriptions or indirect allocation through convertible bond ETFs remains relatively high [3][9]. Summary by Directory Policy Tracking - On October 22, the China Society of Automotive Engineers released the "Energy - Saving and New - Energy Vehicle Technology Roadmap 3.0", which clarifies that global automotive technology will evolve towards low - carbon, electrification, and intelligence. China's automotive industry carbon emissions will peak around 2028 and decline by over 60% by 2040 compared to the peak. By 2040, the market penetration rate of new - energy vehicles needs to exceed 80%, and the intelligent connected infrastructure system integrating vehicles, roads, and clouds will be fully mature [4]. Secondary Market - **Equity Market**: Last week, major equity market indices collectively strengthened. The Shanghai Composite Index, Shenzhen Component Index, and ChiNext Index rose 2.88%, 4.73%, and 8.05% respectively. After the release of the Fourth Plenary Session communique, market sentiment was significantly boosted, and the trading volume on Friday quickly recovered to nearly 2 trillion yuan [5][6]. - **Convertible Bond Market**: The main convertible bond market indices collectively rose, with the CSI Convertible Bond Index, Shanghai Stock Exchange Convertible Bond Index, and Shenzhen Stock Exchange Convertible Bond Index rising 1.47%, 1.56%, and 1.40% respectively. The average daily trading volume was 600.23 billion yuan, a further reduction of 109.27 billion yuan from the previous week. Convertible bond ETFs ended the net redemption trend and had a net subscription of 30.82 billion yuan, supporting the strength of convertible bonds. The small - cap and high - price style in the convertible bond market strengthened again, and most convertible bonds in various industries rose. The valuation of most industries decreased, but the valuation of the light - manufacturing industry rose [7][8][9]. Primary Market - **Issuance and Listing**: Last week, there was no new convertible bond issuance, and Yingliu Convertible Bond was listed. Six convertible bonds were redeemed early and delisted. As of last Friday, the convertible bond market's outstanding scale was 580.96 billion yuan, a decrease of 152.933 billion yuan from the beginning of the year. Five convertible bonds were approved by the CSRC to be issued, totaling 4 billion yuan, and six convertible bonds passed the review committee, totaling 3.581 billion yuan [3]. - **Conversion and Redemption**: Eight convertible bonds had a conversion ratio of over 5%. Some convertible bonds announced early redemption, and some announced that they were about to trigger early redemption conditions or the conditions for conversion price downward adjustment [30][31][33].