Core Viewpoint - BOS Better Online Solutions Ltd. will release its financial results for the first quarter of 2025 on May 29, 2025, before the market opens [1] Company Overview - BOS specializes in integrating supply chain technologies for sectors including aerospace, defense, industrial, and retail [1][2] - The company operates through three specialized divisions: Intelligent Robotics Division, RFID Division, and Supply Chain Division [4] Upcoming Events - A video conference call will be held on May 29, 2025, at 8:30 a.m. EDT, which will include a question-and-answer session following the management's presentation [2] - A recording of the conference will be available on the BOS website the day after the event [2]

1 、 《 智驾平权之车企智驾方案梳理 》摘要 ■ 智能手机市场在2024年预计出货量为12.2亿部，同比增长7%，结束了连续两年的下滑，市场开始 反弹 4 、 《 城市NOA渗透率提升，激光雷达行业爆发》摘要 ■ 手机摄像头沿着光学防抖、大光圈、潜望长焦镜头、多透镜设计、小型化模组和大尺寸像素模组等 方向发展。 ■ 随着智能手机的换机需求逐渐释放，手机摄像头硬件的升级将推动ASP（单价）提升，拉动光学厂 商如舜宇、丘钛等的业绩增长。 ■ L2及以上级别的高级驾驶辅助系统（ADAS）在2025年有望加速渗透，尤其是在10万元以下车型 中，智能驾驶功能有望从"0"到"1"发展。 ■ 随着汽车智能化的推进，车载摄像头需求将迅速增长，国产摄像头及模组厂商具备量产能力，预计 会进一步提升国产化率。 ■ 光波导技术正在成为AR眼镜的终极解决方案，具备更大视场角、更小体积和更高透光率，水晶光电 在AR领域的布局值得关注。 ■ 根据GGII数据，2023年中国机器视觉市场规模为185亿元，预计到2028年将超过395亿元，年复合 增长率约为17.5%。 ■ 2024年 ，预计激光雷达交付量超过150万台，同比增长212%， ...

Financial Data and Key Metrics Changes - In 2024, the company grew revenue by 9% to $71.2 million, driven by a 16% increase in wealth revenue and a 21% increase in payments revenue [6][10] - Adjusted EBITDA for the full year was $6.7 million, above the midpoint of the increased guidance [7][46] - The company ended the year with $49.1 million in cash, marketable securities, and investments, up from $36.2 million in Q3 [7][48] - Positive net income was reported at $10.4 million compared to $8.5 million in the prior period [46] Business Line Data and Key Metrics Changes - Wealth assets under management grew 22% year-over-year, reaching $428 million [7] - Wealth revenue reached a $12 million annual run rate, with a 19% increase in Q4 [8][45] - Payments revenue grew 21% in 2024, reaching $8.6 million, with total payments volume processing increasing 16% year-over-year to $11.5 billion [9][41] Market Data and Key Metrics Changes - The payments business, Carta Worldwide, saw a 14% year-over-year increase in payments volume to $3.2 billion in Q4, with revenue growing at a higher rate of 27% to $2.4 million [41] - The company anticipates 20% to 25% growth in wealth for 2025 and mid to high teens growth for payments [46][51] Company Strategy and Development Direction - The company is focusing on high-margin areas by exiting its institutional brokerage operations to streamline its business [10][49] - There is a significant opportunity in wealth management driven by AI, with a focus on scaling wealth and payments in a disciplined manner [10][34] - The company aims to transform the wealth management industry by applying first principles thinking and leveraging AI to align its business model with investor success [15][35] Management's Comments on Operating Environment and Future Outlook - Management expressed a cautious approach to lending due to economic uncertainties, particularly regarding U.S.-Canadian tariff disputes [52][66] - The company is prioritizing growth and investment in its key areas, with a focus on delivering better performance and lower costs through AI-driven platforms [35][54] - Management believes that the future of investing will be won by platforms that deliver the best results rather than those with the most features [29][36] Other Important Information - The company has monetized portions of its investment portfolio, including a stake in Canadian Crypto Exchange WonderFi, providing flexibility for future capital requirements [42][48] - The decision to exit the institutional brokerage business was made to eliminate distractions and focus on core objectives [60] Q&A Session Summary Question: Timing on the decision to leave the institutional brokerage business - Management indicated that the institutional brokerage business was a legacy operation that was never core to their strategy and was volatile, making it a distraction [58][60] Question: Potential acquisitions to scale wealth and payments - Management stated that while acquisitions are not a priority at the moment, they remain open to opportunities that align with their growth strategy [62] Question: Pulling back in the lending business - Management confirmed that the decision to be cautious in lending is proactive, influenced by macroeconomic uncertainties, particularly regarding tariffs [66]

Core Insights - Lotus Technology Inc. has formed a strategic partnership with CaoCao Mobility to enhance intelligent mobility solutions in the ride-hailing industry [1][2] - The collaboration aims to leverage Lotus Robotics' intelligent driving technology and CaoCao Mobility's operational expertise to accelerate the deployment of robotaxi services across China [2][3] Company Developments - Lotus Robotics has launched an intelligent mobility platform for robotaxis in partnership with CaoCao Mobility, marking a significant advancement in the intelligent mobility sector [1][2] - The partnership will utilize CaoCao Mobility's extensive network of 35,000 enterprises across 57 cities to establish a competitive edge in the market [2] - Pilot operations for robotaxis equipped with Lotus Robotics' technology have commenced in Suzhou and Hangzhou, indicating the start of commercial deployment [3] Technological Innovations - Lotus Robotics is set to introduce advanced features such as mapless Urban Navigate on Autopilot and high-precision navigation capabilities, with a global rollout planned for Q4 2025 [4] - The company has been providing end-to-end intelligent driving solutions to various global OEMs, which is expected to diversify its revenue streams and enhance growth [5] Industry Context - The partnership with CaoCao Mobility is part of a broader trend in the intelligent mobility sector, where companies are increasingly integrating advanced technologies to improve ride-hailing services [2][3] - Lotus Technology Inc. operates in multiple regions including the UK, EU, and China, focusing on luxury battery electric vehicles and next-generation automobility technologies [6]

点 击 蓝 字 关 注 我 们 本文全文共 2769 字，阅读全文约需 9 分钟 本文详细资讯可在中国汽车流通协会乘用车市场信息联席分会官网下载：www.cpcaauto.com 1.本周车市概述 乘用车： 3月1-9日，全国乘用车市场零售36.4万辆，同比去年3月同期增长14%，较上月同期增长52%， 今年以来累计零售353.9万辆，同比增长2%；3月1-9日，全国乘用车厂商批发40.3万辆，同比去年3月同期增长 26%，较上月同期增长84%，今年以来累计批发426.8万辆，同比增长14%。 新能源： 3月1-9日，全国乘用车新能源市场零售20.4万辆，同比去年3月同期增长44%，较上月同期增长 116%，今年以来累计零售163万辆，同比增长36%；3月1-9日，全国乘用车厂商新能源批发21.4万辆，同比去 年3月同期增长53%，较上月同期增长112%，今年以来累计批发193.3万辆，同比增长49%。 2.2025年3月全国乘用车市场零售较强 3月第一周全国乘用车市场日均零售4.0万辆，同比去年3月同期增长14%，较上月同期增长52%。 3月1-9日，全国乘用车市场零售36.4万辆，同比去年3月同期增长14 ...

Financial Data and Key Metrics Changes - Revenue for Q4 2024 was RMB1.9 billion, up 4% year-over-year and 36% sequentially [29] - Full year revenue reached RMB5.6 billion, an 18% increase year-over-year [34] - Gross margin for Q4 was 21.2%, while the full year gross margin was 20.8% [31][34] - Adjusted EBITDA for Q4 was RMB74 million, a significant improvement from a loss of RMB236 million in the same period last year [33] Business Line Data and Key Metrics Changes - Sales of goods revenue for Q4 was RMB1.5 billion, up 16% year-over-year, driven by demand for Antora and Makalu platforms [29] - Software license revenue decreased by 3% year-over-year to RMB90 million, while service revenue dropped 31% year-over-year to RMB326 million [30] - Total shipments reached 2 million units for the year, a 33% increase year-over-year [11] Market Data and Key Metrics Changes - Global vehicle sales grew by approximately 2% in 2024 to 91 million, with China’s passenger vehicle sales increasing by 6% to 28 million [8] - NEV sales in China surged to 30 million, up 36%, accounting for over 40% of total sales [8] Company Strategy and Development Direction - The company aims to achieve positive EBITDA for the full year 2025, focusing on breakeven as a top priority [52][53] - Plans to expand global customer base and deepen relationships with existing customers, including a new project with Volkswagen [12][16] - Emphasis on technological innovation and diversifying the customer base globally [28] Management's Comments on Operating Environment and Future Outlook - Management noted the automotive market is growing slowly but remains competitive, highlighting the importance of differentiation [7][9] - The company is optimistic about future growth prospects, particularly in the software-defined vehicle segment [14] - Management acknowledged challenges in maintaining margins due to industry-wide pricing pressures but plans to optimize costs [32][60] Other Important Information - The company has a robust intellectual property portfolio with 692 registered patents and 723 pending applications [24] - A USD 20 million share repurchase program was announced, reflecting management's confidence in future growth [15] Q&A Session Summary Question: Global production capacity layout and implementation of global orders - Management discussed ramping up manufacturing capabilities in China and plans to use contract manufacturing partners for global expansion [42][44] Question: Current plan for ADAS products and growth opportunities with Geely - Management highlighted ongoing investments in ADAS and the importance of the Skyline Pro product in their roadmap [45][55] Question: Guidance for 2025 regarding revenue and gross margin - Management emphasized breakeven as the main priority for 2025, with revenue growth as a secondary focus [52][53] Question: Revenue breakdown by clients and outlook for Geely's supply chain consolidation - Management indicated that approximately 80% of revenue in 2024 came from Geely, with plans to diversify further [83] Question: Impact of Lincoln Co merger into Zeker and Galaxy E8's computing platform - Management stated that there would be minimal impact on business with Lincoln Co and clarified that Galaxy E8 uses a different hardware supplier but incorporates their ADAS system [87][88]

点 击 蓝 字 关 注 我 们 本文全文共 3949 字，阅读全文约需 13 分钟 本文详细资讯可在中国汽车流通协会乘用车市场信息联席分会官网下载：www.cpcaauto.com 1.本周车市概述 初步统计： 2月1-28日，全国乘用车市场零售139.7万辆，同比去年同期增长26%，较上月下降22%，今年 以来累计零售319.1万辆，同比增长1%；2月1-28日，全国乘用车厂商批发178.1万辆，同比去年同期增长35%， 较上月下降15%，今年以来累计批发388.2万辆，同比增长13%。 初步统计： 2月1-28日，新能源车市场零售72万辆，同比去年同期增长85%，较上月下降3%，今年以来累 计零售146.5万辆，同比增长38%；2月1-28日，全国乘用车厂商新能源批发84.2万辆，同比去年同期增长82%， 较上月下降5%，今年以来累计批发173.2万辆，同比增长49%。 2.2025年2月全国乘用车市场零售回暖 2月第一周乘用车市场日均零售2.7万辆，同比去年2月同期下降31%，较上月同期下降39%。 2月第二周乘用车市场日均零售4.9万辆，同比去年2月同期增长91%，较上月同期下降17%。 2月第三周乘 ...