Core Viewpoint - The China Securities Intelligent Automotive Theme Index (CS Intelligent Automotive, 930721) has shown a recent upward trend, reflecting the overall performance of companies involved in the intelligent automotive industry [1][2]. Group 1: Index Performance - The CS Intelligent Automotive Index opened lower but closed higher, increasing by 0.74% to 4919.67 points, with a trading volume of 27.407 billion yuan [1]. - Over the past month, the index has risen by 10.54%, while it has decreased by 8.21% over the last three months, and it has gained 3.85% year-to-date [1]. Group 2: Index Composition - The index includes companies that provide terminal perception and platform applications for intelligent vehicles, as well as other representative companies benefiting from the intelligent automotive sector [1]. - The top ten weighted companies in the index are: iFlytek (5.14%), Weir Shares (5.03%), OFILM (4.67%), Top Group (4.61%), Luxshare Precision (4.43%), Chipone (4.4%), Wingtech Technology (4.22%), Desay SV (4.18%), Great Wall Motors (4.12%), and Huayu Automotive (4.03%) [1]. - The market share of the index's holdings is divided between Shenzhen Stock Exchange (51.74%) and Shanghai Stock Exchange (48.26%) [1]. Group 3: Industry Breakdown - The industry composition of the index holdings includes: passenger cars and parts (33.63%), electronics (22.04%), semiconductors (17.46%), computers (16.06%), and communication equipment and technology services (10.80%) [2]. - The index samples are adjusted quarterly, with adjustments occurring in the second week of March, June, September, and December [2].

证券代码：300136 证券简称：信维通信 深圳市信维通信股份有限公司投资者关系活动记录表 编号：2025-02 | 投资者关 | □特定对象调研 □分析师会议 | | --- | --- | | 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） | | 参与单位 | 2025 年 5 月 7 日 | | 名称及人 | 长江证券，红杉中国，淡水泉投资，华夏基金，南方基金，天风证 券，工银理财，兴业基金，兴证证券，杭银理财，中海基金，宏利 | | 员姓名 | 基金，汇安基金，稷定基金，陆家嘴国际信托，德睿恒丰资产，混 | | | 沌投资，华夏财富，新传奇基金，金之灏基金，同泰基金，怀德医 | | | 疗健康，信达澳亚基金，玄卜投资等。 | | | 以上排名不分先后。 | | 时间 | 2025 年 5 月 7 日 | | 地点 | 电话会议 | | 上市公司 | 董事会秘书：卢信 | | 接待人员 | | | | 投资者关系经理：瞿展 | | 姓名 | | | | 第一部分：公司 2024 年年度及 2025 年第一季度经 ...

转自：中国质量报 东风纳米06可满足用户多元化需求，前排座椅放倒秒变午休床，天地门打造浪漫观景台，后排秒变两米 观星榻，后备箱能装下9个行李箱，35处储物空间装得下全家人的生活小用品，可适配多场景。 预售活动现场，东风集团战略规划部总经理、研发总院院长杨彦鼎全面解读了东风纳米06的智能实力， 他表示，只有将技术做到极致可靠，才能让用户安心托付。东风纳米06作为天元智能技术品牌的首款落 地车型，其背后有东风汽车2.44万件技术专利的储备，更有6200万用户对东风汽车的信赖和支持。 智驾方面，东风纳米06突破高精地图束缚，不仅能准确识别临时改道的施工路段，还能根据前方路况实 现变道超车，面对连续分岔路口提前进行车道选择，使上下匝道成功率超过99%。智能辅助泊车方面， 新车能完成从进入停车场到驶入车位的繁琐操作，还能存储20条两公里的泊车路线，并应对极窄车位、 公园草砖车位、山城坡道车位等复杂车位类型。此外，新车还搭载20余项主动安全功能。智能座舱方 面，东风纳米06语音交互响应时间在400毫秒以内，语音识别率达到98%。同时，新车小憩模式下座椅 可自动后仰121度。新车还搭载第三代"智焓"热管理系统，解决了低温性 ...

大和料地平线今年交付逾400万块ADAS芯片 升目标价至9.6港元 金十数据5月8日讯，大和研究报告指，预期地平线机器人(09660.HK)今年可交付超过400万块高级辅助 驾驶系统(ADAS)芯片，相比起去年为290万块。其中，Horizon Mono预计出货约190万块，Horizon Pilot 约190万块，Horizon SuperDrive约4万块。而Horizon Pilot的出货量和价格上升，将会是今年收入增长的 核心推动力。大和重申对地平线机器人的买入评级，目标价由6.5港元升至9.6港元，并将2026至27年的 净利润预测下调28%至57%，因预期授权及服务业务的收入占比将较该行之前预测减少6至7个百分点。 该行认为，尽管小米SU7发生事故后，内地汽车行业对于ADAS态度更谨慎，但该行认为智能汽车的趋 势不会放缓。 ...

证券代码：301225 证券简称：恒勃股份 能源增程发动机进气系统技术研究。 感谢您对公司的关注。 2.公司本期盈利水平如何？ 答:您好，公司2024年全年实现营业收入8.65亿元，同比增长 10.15%。归属于上市公司股东的净利润为1.31亿元，同比增长 14.23%；基本每股收益为1.29元/股，同比增长1.57%。公司的营 收和利润均呈现出稳健增长的态势。感谢关注。 3.新能源汽车热管理系统及车用进气系统项目是否已经完成 厂房建设、设备安装调试等关键环节，预计何时能够正式投 产？ 答:您好,截至2024年末，新能源汽车热管理系统及车用进气 系统项目进度为10.06%，募集资金投资进度为84.97%，尚在建 设中，未完成厂房建设、设备安装调试等关键环节，项目预计 2026年10月15日达到预定可使用状态。感谢您对公司的关注。 4.公司之后的盈利有什么增长点？ 答:尊敬的投资者您好,公司已积极开拓新能源汽车相关产品 的生产及销售，不断推进新能源汽车热管理系统的研发、生产和 销售进程，同时不断巩固下游燃油车市场相关份额，降低受未来 下游燃油车市场份额下降带来的风险。公司亦积极布局智能仪表 等相关产品，相关业务 ...

Group 1 - The A-share market showed a slight pullback after a strong opening, with the Sci-Tech Chip Index rising by 0.38%, driven by significant gains in stocks like Yuanjie Technology, which increased by over 7% [1] - The Sci-Tech Chip ETF (588200) also saw a rise of 0.38%, with a trading volume exceeding 700 million yuan and a turnover rate of nearly 3%, indicating active trading and a slight premium in the market [1][2] - There was a net inflow of over 310 million yuan into the Sci-Tech Chip ETF (588200) the previous day, reflecting strong investor interest in semiconductor-related stocks [2] Group 2 - The Financial Regulatory Administration announced eight new policies aimed at increasing market liquidity, including measures to support small and private enterprises, and enhance investment in technology companies [2] - According to Everbright Securities, the A-share market is expected to trend upwards due to ongoing policy support and the inflow of medium to long-term funds, with current valuations near the average since 2010 [3] - Guosheng Securities highlighted that the focus for May should be on sectors with independent industrial trends, such as domestic AI, smart vehicles, and robotics, while also considering policies related to domestic consumption and real estate [3]

证券研究报告 | 朝闻国盛 gszqdatemark 2025 05 07 年 月 日 朝闻国盛 A 股一季度报盈利特征&5 月市场观点 今日概览 重磅研报 【策略】A 股 25Q1 盈利与供需特征如何？——25Q1 财报分析（一）— —20250506 研究视点 【食品饮料】零售变革草根调研（二）四川零食有鸣批发超市：多品类 折扣先行者，千店规模优势深厚——20250506 【通信】润泽科技（300442.SZ）-改造机房适配新需求，AIDC 高增趋势 未改——20250506 【电新】同飞股份（300990.SZ）-25Q1 毛利率环比持续提升，期待公司 数据中心、半导体温控收入放量——20250506 作者 | 分析师 熊园 | | | | | --- | --- | --- | --- | | 执业证书编号：S0680518050004 | | | | | 邮箱：xiongyuan@gszq.com | | | | | 行业表现前五名 | | | | | 行业 | 1 月 | 3 月 | 1 年 | | 美容护理 | 15.6% | 12.4% | -4.2% | | 计算机 | 14.6% | -1 ...

证券研究报告 | 策略报告 gszqdatemark 2025 05 06 年 月 日 投资策略 5 月市场观点：关注关税的实际影响幅度 1、关税冲击将显，关注实际影响幅度 关税加征的两个关切：一是沿总量层面，实际关税税率水平、对出口的冲击以及对 经济增速的拖累如何？二是沿盈利传导层面，本轮关税加征存在结构性的豁免以 及额外加征，且各行业产品的全球比价优势存在明显差异，那么哪些行业面临压 力更大？ 鉴于特朗普已单方面提及要调降对等关税幅度，且中美双方尚未真正开启磋商， 所以此前对等关税的几个版本都需要纳入考虑：①情形一：10%基准关税加征 +10%芬太尼关税；②情形二：10%基准关税加征+10%芬太尼关税+34%对等关 税；③情形三：10%基准关税加征+10%芬太尼关税+84%对等关税；情形④：10% 基准关税加征+10%芬太尼关税+125%对等关税。测算结果显示： ③关于经济增速：四类关税加征情形下对应的对 GDP 的拖累幅度预计将分别达到 1.2%、1.6%、1.7%和 1.7%左右。若考虑潜在的新增转口贸易、海外建厂等因素 还将对冲部分压力，实际对 GDP 的实际拖累幅度预计在 1%-1.4%左右。 ④ ...

Core Viewpoint - The launch of the domestic aircraft C919 alongside the new high-end car series "Chuanqi Xiangwang" by GAC Chuanqi symbolizes a new benchmark for Chinese manufacturing, showcasing the evolution from technology follower to leader in the automotive industry [1][4][31] Group 1: Transformation of GAC Chuanqi - GAC Chuanqi has transitioned from a "technology follower" to a "technology leader," leveraging over 20 years of automotive experience and establishing a "technology moat" through partnerships with Huawei and CATL [4][8] - The company boasts a core technology self-sufficiency rate exceeding 90%, marking a significant shift in China's automotive industry from assembly to innovation [4][5] - GAC Chuanqi's rigorous testing standards, including over 13 million kilometers of equivalent testing, ensure "aviation-grade reliability" for its vehicles, surpassing some luxury brands [5][7] Group 2: Strategic Collaborations - The collaboration between GAC Chuanqi, Huawei, and CATL represents a revolutionary ecosystem in the automotive industry, combining market insights, intelligent algorithms, and advanced battery technology [8][16] - This "golden triangle" partnership breaks traditional barriers and propels Chinese automotive technology from scale leadership to defining technical standards [8][16] Group 3: Product Innovations - The flagship SUV, Chuanqi Xiangwang S9, integrates technology and aesthetics, featuring "zero-gravity seats" and a spacious design that enhances user comfort during long drives [17][18][19] - The Chuanqi Xiangwang M8 Qiankun is positioned as a new benchmark for MPVs, offering luxurious features such as zero-gravity Nappa leather seats and advanced battery technology for extended range [21][24][26] Group 4: User-Centric Approach - The launch of the Chuanqi Xiangwang series signifies a deep restructuring of user value, merging high-quality manufacturing with leading-edge technology to create a "mobile intelligent terminal" [27][30] - The vehicles are designed to meet diverse consumer needs, from family outings to business receptions, emphasizing quality, safety, and luxury [9][30] Group 5: Industry Impact - The introduction of the Chuanqi Xiangwang series marks a milestone in Chinese automotive technology, showcasing the industry's shift towards self-innovation and user value [31] - This event is seen as the beginning of a "big factory era" in China, highlighting the country's rise in the global automotive landscape [31]

A股公司赴港上市队伍进一步扩大。仅4月22日至4月28日，就有8家A股公司向香港交易及结算所有限公 司（以下简称"港交所"）递表。《证券日报》记者根据公司公告及递表情况统计，截至5月5日，有46家 A股公司拟赴港上市。其中，已向港交所递表并获得中国证监会境外发行上市备案通知书的A股公司有7 家。 在政策支持、港股吸引力提升等多重因素推动下，越来越多的公司谋求赴港上市，以期拓展国际业务版 图、优化融资渠道、提升全球影响力。 消费、科技公司占多数 上述拟赴港上市的A股公司大多来自消费、科技等行业。例如，佛山市海天调味食品股份有限公司、东 鹏饮料（集团）股份有限公司、安井食品集团股份有限公司都是国内知名的消费品公司。宁德时代新能 源科技股份有限公司、蓝思科技股份有限公司、浙江三花智能控制股份有限公司、江苏恒瑞医药股份有 限公司则来自新能源、芯片、医药等科技产业。 "消费零售企业赴港上市的主要驱动因素包括企业的国际化扩张战略、吸引国际投资者优化股东结构， 以及香港资本市场在后续融资和股权激励方面更具灵活性等。"高盛亚洲（除日本外）消费零售主管兼 并购主管Sushil Bathija表示，多数消费零售企业现金流充沛、盈 ...