9月25 - 26日，惠州市德赛西威汽车电子股份有限公司通过电话会议形式，接受了长城基金、合远基 金、国泰基金、中信资管、高盛等80家机构的特定对象调研，证券事务代表林洵沛先生参与接待。以下 为本次调研的精彩要点： 智能座舱与智能驾驶业务发展良好 德赛西威旗下"川行致远"车规级无人车获市场关注与客户订单。产品引入车规级设计开发与生产制造体 系，提升无人车爬坡高度至25%，自研"远行"电池通过多项试验，正常运行可达6年30万公里以上，还 具备领先的L4自动驾驶端到端算法并自建数据中心。 智能化全栈能力突出 德赛西威发布全栈辅助驾驶解决方案，覆盖多元场景需求。其"三大核心"为硬件集成、系统融合与核心 算法。硬件集成提升开发效率与系统稳定性；系统融合实现"一芯双系统"高效协同与资源复用；核心算 法灵活调度确保算力高效利用。公司还采用"同套硬件、两套算法"模式，提供定制化解决方案。 声明：市场有风险，投资需谨慎。 本文为AI大模型基于第三方数据库自动发布，任何在本文出现的信 息（包括但不限于个股、评论、预测、图表、指标、理论、任何形式的表述等）均只作为参考，不构成 个人投资建议。受限于第三方数据库质量等问题，我们无法 ...

惠州市德赛西威汽车电子股份有限公司 股票代码：002920 股票简称：德赛西威 惠州市德赛西威汽车电子股份有限公司 | | 建信理财 唐文成 | | --- | --- | | | 中信建投资管 顾辛迪 | | | 橡果资产 魏鑫 | | | 天风证券 陈璐瑶 | | | 金鹰基金 韩广哲 | | | 方正证券 郭文杰 赛维投资 吕政和 | | | 吉渊投资 陈晓伟 | | 时间 2025 | 年 9 月 25 日-26 日 | | 地点 | 惠州市德赛西威汽车电子股份有限公司 | | 形式 | 电话会议 | | 上市公司接待 人员姓名 | 证券事务代表：林洵沛先生 | | | 1、请介绍公司智能座舱和智能驾驶域控业务整体的进展情 | | 况？ | | | | 答：公司的智能座舱和智能驾驶业务今年依然保持相对不错的 | | | 发展态势。智能座舱域控方面，公司第四代智能座舱已在理想汽车、 | | | 小米汽车、吉利汽车等客户规模化量产，并持续获得广汽乘用车、 | | | 吉利汽车、广汽埃安等客户新项目订单。在第三代轻量级座舱域控 | | | 平台、第四代高性能座舱域控平台规模化量产下，公司推出第四代 | | ...

Group 1 - The core event is the online launch of the "Zhi Jing L7 'Xiao Yao Zhi Xing' Premiere Experience" program, co-created by SAIC-GM and Xinhua Automotive Laboratory, focusing on the intelligent driving capabilities of the Buick Zhi Jing L7 under various complex road conditions [1][2] - The program features guest experience officer Kan Xiaojun, SAIC-GM Vice General Manager Wang Chendong, and Momenta CEO Cao Xudong, who will participate in test drives and provide in-depth technical interpretations [1] - The experience will cover scenarios such as highway driving, urban mixed traffic, and automatic parking, showcasing the complete chain from perception to execution in intelligent driving [1] Group 2 - The Zhi Jing L7 is equipped with the Buick "Xiao Yao Zhi Xing" advanced driver-assistance system, which is based on the Momenta R6 flywheel model utilizing end-to-end reinforcement learning and optimized through extensive real-world testing data [2] - This system offers human-like intelligent driving capabilities, including features like city NOA and "no-stop one-button parking," supported by a robust architecture that integrates chassis tuning, safety redundancy, and intelligent interaction [2] - The Xinhua Automotive Laboratory aims to establish a national-level window for automotive technology evaluation, providing authoritative insights to help consumers understand automotive technology and product strength [2]

Group 1: Communication ETF Performance - The Communication ETF has a turnover rate of 6.11% with a transaction volume of 18.11 million yuan on a single day. The average daily transaction volume over the past month is 50.60 million yuan [1] - Since the beginning of the month, the Communication ETF has seen an increase in scale by 42.68 million yuan, ranking first among comparable funds. Over the last 19 trading days, there have been net inflows on 10 days, totaling 56.56 million yuan [1] - As of September 25, the Communication ETF's net value has increased by 106.58% over the past year, ranking 342 out of 3031 index equity funds, placing it in the top 11.28% [1] Group 2: Alibaba's AI Developments - Alibaba has announced significant advancements in artificial intelligence, including a partnership with NVIDIA for Physical AI and the release of seven large model products, with Qwen3-Max being the strongest model to date [2] - The CEO of Alibaba stated that the company will invest an additional 380 billion yuan in AI infrastructure [2] - According to CITIC Securities, the capital expenditure driven by AI has substantial long-term potential, with a shift from network investment to computing power investment, indicating a strong growth trajectory for cloud services [2] Group 3: Optical Communication Sector Insights - Recent volatility in the optical communication sector has been noted, but strong demand and large orders in the overseas AI computing power market suggest that the fundamentals of the optical module industry remain solid [3] - The AI-driven expansion cycle in computing power is far from over, and the current market adjustments may provide better investment opportunities for investors [3] - As of August 29, 2025, the top ten weighted stocks in the Guozheng Communication Index account for 64.43% of the index, including companies like XinYiseng, Zhongji Xuchuang, and ZTE [3] Group 4: Stock Performance Overview - The stock performance of key companies in the optical communication sector shows varied results, with Zhongji Xuchuang down by 2.05%, China Telecom down by 0.45%, and ZTE down by 3.21% [5] - Investors can consider the Communication ETF linked fund (019072) to capitalize on investment opportunities in optical communication under the AI transformation [5]

9月25日，都市科技智混轿车——全新领克07 EM-P正式上市。新车共推出126长续航Max、126长续航Ultra、126长续航Ultra H7三款配置版本，上市限时价 13.98万元起。同时，全新领克07 EM-P还准备了限时领享金、超享焕新礼、选配礼、金融礼、智行礼、补能礼、无忧臻享礼、交车礼在内的8重限时福利。 与有为者同行，共赴人生新境 全新领克07 EM-P的诞生，基于一个清晰的出发点：为这个时代不断创造价值的「有为青年」，带来一款配得上他们奋斗的座驾。 凭借对轿车的深刻理解与技术沉淀，基于用户不断增长的需求，全新领克07 EM-P以入门即高配的辅助驾驶体验以及能读懂情绪的情感化座舱，用心回应每 一位全力以赴的「有为青年」。 更丰富的生态应用，更聪明的"AI大管家" 年轻用户对于座舱的期待，已从单纯的功能满足转而更具温度的情感交互。全新领克07 EM-P搭载LYNK Flyme Auto 2系统，采用灵动桌面卡片与双小窗模 式设计，简化交互层级，更易获取关键信息；配合算力强大的高通骁龙8295芯片，无论是多应用同开还是界面切换，皆丝滑流畅。 LYNK Flyme Auto 2还拥有更丰富的生态应用 ...

限时下订，丰富好礼 梅赛德斯-奔驰为豪华纯电客户，提供丰富的预售限时好礼。客户在上市日（含）18:00前下订，支付3000元订金，即可享超4倍超值膨胀，总价值超13000 元，可选好礼涵盖梅赛德斯-奔驰进口精品周末旅行套装、Burmester®️3D环绕立体声音响系统及超值充电权益。此外，客户还可额外再享城区及高速领航辅 助驾驶权益包，可用于智能辅助驾驶产品购买。为庆祝全新纯电CLA预售正式开启，梅赛德斯-奔驰更为预售期间下单的奔驰老客户及指定品牌电车客户额 外赠送专属影音畅享包，让客户能在车内，在超大屏和柏林之声双重加持下，充分感受全新纯电CLA为其呈献的视听盛宴。 齐鲁晚报·齐鲁壹点 陈颖 9月25日，全新梅赛德斯-奔驰纯电CLA开启预售，上市时率先提供纯电CLA 300L超长续航版、纯电CLA 300L超长续航领智版，预售价格分别为人民币 259,000元和299,000元。客户在上市日（含）18:00前下订，还可享受多重好礼，订金膨胀超4倍，总价值超13000元。 全新纯电CLA是安全标杆，在诸多方面严守奔驰标准，满足客户对于一辆奔驰好车的期待；作为史上最智能的梅赛德斯-奔驰，其搭载AI赋能的智能座舱 ...

本报讯(记者刘钊)9月24日，领克汽车销售有限公司(以下简称"领克")旗下"家庭豪华智混SUV"全新领克 08EM-P正式上市。此次新车推出160长续航Max、160长续航Ultra、230超长续航Ultra H7、210四驱性能 Ultra H7四款配置车型，官方限时售价区间为15.98万元-21.28万元，同时同步推出包含金融、置换、补 能等在内的8重限时购车权益。 辅助驾驶能力是新车核心亮点之一。全新领克08EM-P为同级唯一全系标配激光雷达的插混SUV，同时 是全球首款搭载4nm制程Thor芯片的中型SUV，芯片算力达700TOPS，依托吉利星睿智算中心2.0平台提 供技术支撑。新车至高搭载千里浩瀚H7辅助驾驶方案，上市即支持智能跟车、车道级红绿灯识别、城 市行人避让、无规划道路识别等38项功能，未来还将升级动静态障碍物感知、车位到车位领航、一 键"四抬杆"等功能。辅助泊车功能可覆盖全国300余种车位类型，支持指尖泊车、离车泊入，应对窄车 位、无划线车位等复杂场景。 动力与驾控性能兼顾效率与体验。新车搭载热效率47.26%的1.5TEvo电混专用引擎，两驱车型匹配 180kW P3电机，CLTC综合续 ...

Core Insights - Horizon showcased its upgraded urban auxiliary driving system HSD at the "HSD Pioneer Experience Day" in Beijing, featuring a "one-stage end-to-end + reinforcement learning" architecture that overcomes traditional separation limitations [1] - The HSD system demonstrated low latency, defensive driving, and human-like control capabilities during real-world tests in complex urban environments [1] - The system is designed to self-evolve through reinforcement learning, maintaining stable performance in extreme conditions such as tidal lane changes and unpaved roads [1] - The Xingtai ET5 will be the world's first vehicle equipped with Horizon's HSD and the Journey 6P chip, set to launch in November 2025 [1] - Horizon plans to enter mass production of the HSD system by the end of this year, with expectations to achieve millions of installations over the next 3 to 5 years, promoting the widespread adoption of auxiliary driving technology [1]

新京报贝壳财经讯（记者林子）9月24日，全新领克08 EM-P正式上市。领克汽车销售公司常务副总经理周钘认为全新领克08是20万级别 SUV的首选。据其介绍，新车提供160长续航Max、160长续航Ultra、230超长续航Ultra H7、210四驱性能Ultra H7四款车型可选，官方限 时价15.98万元-21.28万元。 全新领克08 EM-P正式上市。企业供图 同时，全新领克08 EM-P是同级唯一全系标配激光雷达的插混SUV，也是全球首款搭载Thor芯片的中型SUV车型；至高实现千里浩瀚H7 辅助驾驶方案，支持38项辅助驾驶功能，如智能跟车、车道级红绿灯、城市避让行人、识别无规划道路等。 千里浩瀚H7方案的辅助泊车功能支持全国300+种车位，即便是窄车位、断头路车位、无划线车位等泊车困难场景，也可通过指尖泊车、 离车泊入等功能应对。 编辑 杨娟娟 全新领克08 EM-P采用高通骁龙8295芯片，结合95英寸AR-HUD、15.4英寸中控屏和12.3英寸全液晶仪表屏，带来全新界面和三屏联动操 作体验。 校对 杨利 ...

Group 1 - The communication ETF (515880) has gained over 104% year-to-date, making it the top-performing ETF in the A-share market, with a net inflow exceeding 500 million yuan in the last two days [1][2] - As of September 24, the communication ETF has a scale of over 12.3 billion yuan, with "optical modules + servers + copper connections + optical fibers" accounting for over 77% of its composition, indicating a strong fundamental outlook for computing hardware [2] Group 2 - Alibaba Group's CEO announced at the 2025 Cloud Summit that large models are the next-generation operating system, and AI cloud is the next-generation computer, with plans for a 380 billion yuan investment in AI infrastructure [1] - Alibaba Cloud has partnered with NVIDIA in the field of Physical AI, integrating NVIDIA's Physical AI software stack into Alibaba Cloud's AI platform PAI, which will provide comprehensive services for enterprises, including data preprocessing and simulation testing [1]