Group 1 - The stock price of Zhixing Technology (01274.HK) surged by 23.31% on July 10, reaching a market capitalization of HKD 4.22 billion after two months of consolidation, driven by multiple positive factors [1] - Zhixing Technology announced on July 10 that it received a designated development notice from a leading domestic brand for five models, including mainstream passenger and commercial vehicles, to provide iDC assisted driving domain controllers and iFC front-view integrated machines [1] - Within 30 days, Zhixing Technology secured a total of 14 model designations, building on the nine commercial vehicle platform designations from early June, showcasing its technical strength and mass production capabilities [1] Group 2 - The new designated projects include ADAS solutions based on the Horizon J6M chip, which will enable advanced driving and parking capabilities, including urban lightweight functions [2] - Zhixing Technology has established a comprehensive service system that supports low, medium, and high-level driving and parking functions, facilitating flexible and cost-effective assisted driving solutions for automakers [1][2] - The company is also focusing on the development of its robotics business, with its subsidiary Aimosing Robotics acquiring a majority stake in Suzhou Xiaogongjian Robotics, enhancing its technological accumulation in key robotic components [2] Group 3 - Aimosing Robotics has completed the full-chain functional verification of its first embodied intelligent product, the "charging robot," which automates the entire charging process [3] - The company is accelerating the development of other core components for the charging robot, aiming to create a highly intelligent and cost-effective product that integrates deeply with Zhixing Technology's high-performance assisted driving product system [3] - Zhixing Technology plans to collaborate with Aimosing in areas such as investment, software and hardware design, supply chain, and manufacturing to expedite the industrialization of Xiaogongjian Robotics [3]

Core Insights - The first phase of the assisted driving test conducted by Phoenix Car Research Institute ranked the Li Auto L9 at the top with a score of 90, followed by the Aion M9 and Xiaopeng P7+ with scores of 87 and 76 respectively, while Xiaomi SU7 and Denza Z9GT shared the fourth position with a score of 70 [1][3] Group 1: Test Results - The test involved five models: Aion M9, Li Auto L9, Denza Z9GT, Xiaomi SU7, and Xiaopeng P7+, with the Li Auto L9 achieving the highest score [1] - The test was conducted over a 174 km route in Zhengzhou, covering various road conditions, and all vehicles completed the test within 4 to 4.5 hours [2][3] - The Aion M9 and Li Auto L9 were only 8 and 9 minutes slower than the estimated navigation time, while the other three models were slower by 20, 23, and 26 minutes respectively [2] Group 2: Vehicle Specifications - The Aion M9 is equipped with four laser radars, while the Li Auto L9 and Xiaomi SU7 have one each, and the Denza Z9GT has two [2] - The assisted driving chips in the Li Auto L9, Xiaomi SU7, and Xiaopeng P7+ have a computing power of 508 TOPS, while the Denza Z9GT has 254 TOPS [2] - The Aion M9's chip specifications were not disclosed [2] Group 3: Performance Metrics - In terms of takeover instances, the Li Auto L9 and Xiaopeng P7+ had the least with 6 instances, while the Xiaomi SU7 had 10, and the Aion M9 and Denza Z9GT had 7 and 8 respectively [3] - The Li Auto L9 received full marks in two major scoring categories, contributing to its top ranking in the assisted driving test [3]

Group 1 - The A-share market for electronic rearview mirrors, 3D cameras, and LiDAR related to assisted driving has seen a short-term rise, with Lianchuang Electronics increasing by over 7% [1] - Other stocks such as Qutian Micro, Yutong Optics, and Tongda Electric have also experienced gains [1] - BYD has announced comprehensive coverage for all users of its "Tianshen Eye" vehicles regarding safety and losses in smart parking scenarios [1]

Group 1 - Tencent Technology (Shenzhen) Co., Ltd. has applied for a patent titled "Evaluation Method, Device, Storage Medium, and Electronic Equipment for Resource Estimation Model," with publication number CN120278566A and application date of January 2024 [1] - The patent describes a method that includes obtaining at least two media resource samples, classifying them into at least two sample sets based on sample quantity, and evaluating resource estimation results using preset deviation thresholds to obtain quality scores for the resource estimation model [1] - The implementation of this patent can be applied in various scenarios such as cloud technology, artificial intelligence, smart transportation, and assisted driving, addressing the technical issue of low accuracy in evaluating resource estimation models [1] Group 2 - Tencent Technology (Shenzhen) Co., Ltd. was established in 2000 and is primarily engaged in software and information technology services, with a registered capital of 2 million USD [2] - The company has made investments in 15 enterprises, participated in 260 bidding projects, and holds 5000 trademark and patent information records, along with 472 administrative licenses [2]

金十数据7月8日讯，天眼查App显示，7月8日，华为技术有限公司申请的"辅助驾驶方法和装置"专利公 布。摘要显示，本申请辅助驾驶方法，包括：获取多模态感知信息，所述多模态感知信息由设置于车辆 上的多种传感器采集得到；获取多组显示信息，所述显示信息包括待显示的目标区域和栅格粒度等内 容。本申请既可以提升驾驶员对大范围内的障碍物的全景感知能力，又可以提升驾驶员对近距离范围内 的障碍物的精细化感知能力。 订阅新能源汽车动态 +订阅 华为公布辅助驾驶专利 可提升驾驶员对环境的感知能力 ...

天眼查显示，7月8日，华为技术有限公司申请的"辅助驾驶方法和装置"专利公布。摘要显示，本申请辅 助驾驶方法，包括：获取多模态感知信息，所述多模态感知信息由设置于车辆上的多种传感器采集得 到；获取多组显示信息，所述显示信息包括待显示的目标区域和栅格粒度；根据所述多模态感知信息和 所述多组显示信息进行感知预测，以得到多个占据栅格信息，所述占据栅格信息用于描述所述车辆周围 的障碍物的分布情况；根据所述多个占据栅格信息在人机交互界面上显示多个占据栅格画面。本申请既 可以提升驾驶员对大范围内的障碍物的全景感知能力，又可以提升驾驶员对近距离范围内的障碍物的精 细化感知能力，二者结合可以提升驾驶员的对周围环境的感知能力，避免剐蹭。(智通财经) ...

Group 1 - Tencent Technology (Shenzhen) Co., Ltd. has applied for a patent titled "Method, Device, Electronic Equipment, and Storage Medium for Determining Activity Indicators," with publication number CN120263684A and application date of January 2024 [1] - The patent application involves a method for determining activity indicators that can be applied in various scenarios such as cloud technology, artificial intelligence, smart transportation, and assisted driving [1] - The method includes determining multiple atomic activity information reported by terminals for a target application, identifying atomic activity information belonging to the same session, and restoring sessions based on active time periods to derive at least one session for the target application [1] Group 2 - Tencent Technology (Shenzhen) Co., Ltd. was established in 2000 and is primarily engaged in software and information technology services, with a registered capital of 2 million USD [2] - The company has made investments in 15 enterprises, participated in 260 bidding projects, and holds 5000 trademark and patent information records, along with 472 administrative licenses [2]

Core Viewpoint - Xiaopeng Motors has launched the new G7 model, which is priced higher than expected, positioning it as a family-oriented mid-size SUV with advanced technology and aesthetics [3]. Product Launch and Features - The G7 is available in three versions: - 602km Max version with dual Orin-X chips priced at 195,800 CNY - 702km Max version with dual Orin-X chips priced at 205,800 CNY - Ultra version with three Turing AI chips priced at 225,800 CNY - The G7 is the world's first electric vehicle with L3 computing power, featuring a 5C supercharging battery and an 800V SiC platform [3]. Hardware and Software Upgrades - The G7 Ultra features three Turing AI chips, providing an effective computing power of 2250 TOPS, with two chips dedicated to the VLA model and one for the VLM model [4]. - The G7 introduces the first local VLA+VLM large model in the industry, enhancing autonomous driving capabilities with a new "sports brain" for improved learning [4]. - Key functionalities include human-machine co-driving, autonomous ETC recognition, and innovative line-parking features [4]. Intelligent Chassis and Cabin - The G7's chassis is equipped with advanced AI capabilities, including intelligent variable damping, AI recognition of speed bumps, and a 6D anti-motion sickness feature [5]. - The cabin utilizes Turing AI chips and Qualcomm 8295P, providing a computing power of 800 TOPS [5]. Financial Projections - The company maintains revenue expectations for 2025-2027 at 94.7 billion CNY, 167.6 billion CNY, and 249.1 billion CNY, representing year-on-year growth of 132%, 77%, and 49% respectively [7]. - Net profit forecasts for the same period are 350 million CNY, 7.6 billion CNY, and 12 billion CNY, with year-on-year growth of 106%, 2070%, and 58% respectively [7]. - Earnings per share (EPS) are projected at 0.18 CNY, 3.97 CNY, and 6.27 CNY for 2025, 2026, and 2027, with corresponding price-to-earnings (PE) ratios of 368, 17, and 11 [7].

Core Viewpoint - Xiaopeng Motors has launched its new SUV model, the Xiaopeng G7, with three versions priced between 195,800 to 225,800 yuan, emphasizing advanced AI capabilities and spacious design [1][4]. Product Features - The G7 comes in three versions: 602 Long Range Max, 702 Ultra Long Range Max, and 702 Ultra Long Range Ultra, priced at 195,800, 205,800, and 225,800 yuan respectively [1]. - The Ultra version features three self-developed Turing chips, providing 2250 TOPS of effective computing power and is described as the first AI car with L3-level computing capabilities [1]. - The G7's Turing AI driving system includes features like ETC passage, custom parking, and human-machine co-driving, with expanded coverage from urban roads to highways [1][2]. Technology and Performance - The Max version is equipped with dual OrinX chips from NVIDIA, offering over 500 TOPS of computing power, but lacks the upgrade path to the VLA model [2]. - The G7 integrates high-end electric vehicle technology, including an 800V high-voltage SiC platform and a 5C supercharging AI battery, achieving a range of 702 km and a consumption rate of 12.9 kWh/100 km [3]. - The vehicle features a spacious interior with a total space of 4.47 m³ and a trunk capacity of 819 L, expandable to 2277 L [2]. Safety and Comfort - The G7 includes 14 active safety features, with the AEB system capable of stopping from 130 km/h in real-world scenarios [3]. - The vehicle is designed for family comfort, featuring four seats with ventilation, heating, massage, and electric adjustments [2]. Market Positioning - The G7 is positioned within a complete family SUV matrix, targeting the 200,000 to 300,000 yuan pure electric SUV market, appealing to middle-class and tech-savvy consumers [3]. - The pricing of the G7 may exert pressure on the G6 model, which is priced between 176,800 and 198,800 yuan [4]. - To compete effectively against models like Xiaomi's Yu and Tesla's Model Y, the G7 must offer strong product value [5].

Core Viewpoint - The report on the depreciation rates of Chinese automobiles aims to reflect the comprehensive strength of brands, including product power, recognition, and reputation, providing important data for future business operations such as repurchase, replacement, leasing, financing, and new car pricing [1][3]. Policy Direction - The penetration rate of L2 and above advanced driver-assistance systems in new energy passenger vehicles reached 55.3% in 2023 and is expected to rise to 57.3% in 2024, with a significant increase to 77.8% in the first four months of 2025. The new national standards will enhance safety levels for these systems [5]. Hot Events - Local governments are actively promoting automobile production and sales through action plans that include subsidies and a supportive policy environment. Adjustments in license plate policies in cities like Guangzhou are expected to stimulate automobile consumption [7]. Online Vehicle Supply Changes - There has been a slight decline in vehicle supply, with differing opinions among dealers regarding new car discounts affecting the second-hand car replacement transactions. Over-reliance on subsidies may overlook dealers' subjective willingness and capabilities [10]. Depreciation Rates by Level - Depreciation rates across all vehicle levels have decreased, with high-end models experiencing the most significant declines. The luxury mid-to-large segment has seen the largest drop, indicating ongoing price competition in the new car market [13]. Changes in the New Energy Vehicle Market - The range of new energy vehicles being promoted in rural areas has expanded to include mid-to-high-end models, with 124 models available. This initiative aims to provide consumers with greener and smarter experiences, supported by old car scrapping subsidies [16]. Depreciation Rates of Different Types of New Energy Vehicles - The recent price cuts led by BYD have impacted the second-hand market, with other brands following suit without considering the depreciation rates of used cars. The brand value of new energy vehicles is volatile, with frequent negative news and limited positive developments, leading to challenges in curbing depreciation [18].