Group 1 - The company, Botai Che Lian (02889.HK), plans to globally offer 10.4369 million H-shares, with 1.0437 million shares available in Hong Kong and 9.3932 million shares for international offering, with a proposed price of HKD 102.23 per share [1] - The company is a leading provider of intelligent cockpit solutions in China, ranking as the third largest supplier of passenger car intelligent cockpit domain controllers with a market share of 7.3% as of 2024 [1] - The company differentiates itself by offering integrated solutions that combine software, hardware, and cloud services, unlike competitors who primarily focus on hardware [1] Group 2 - The company has entered into cornerstone investment agreements, with cornerstone investors agreeing to subscribe for shares totaling approximately HKD 465.9 million, equating to 4.55752 million shares at the offering price [2] - Estimated net proceeds from the global offering are approximately HKD 919.1 million, assuming no exercise of the over-allotment option [3] - The intended use of the net proceeds includes approximately 30% for expanding product offerings and enhancing technology, 30% for improving production and testing capabilities, 20% for expanding sales and service networks, 10% for strategic investments, and 10% for working capital and general corporate purposes [3]

Core Viewpoint - The launch of the Avita 07 2026 model marks a significant advancement in the luxury SUV segment, emphasizing original design aesthetics and deep integration of Huawei's intelligent technology, establishing a new standard for luxury value in the market [1][13]. Design and Aesthetics - The Avita 07 2026 model features an original design that breaks away from homogenization, showcasing a unique future aesthetic with a body crafted in golden ratio, a butterfly-wing front face, and starry tail lights, achieving high recognition [3][13]. - It offers six nature-inspired paint colors and three avant-garde interior designs, allowing users to explore both urban and natural environments [3]. Intelligent Technology - The model is one of the first to fully integrate Huawei's advanced driving system, ADS 4, with a comprehensive technology investment from software to hardware [5]. - The software includes Huawei's future-oriented autonomous driving architecture, which utilizes AI to generate complex scenarios, achieving a density 1000 times that of the real world, and enhancing performance metrics such as reducing latency by 50% and improving traffic efficiency by 20% [5][9]. Hardware and Sensor Systems - The vehicle is equipped with 27 intelligent driving sensors forming a four-layer perception system, including a 192-line LiDAR and upgraded 4D millimeter-wave radar, enhancing detection capabilities and accuracy [7]. - The 4D radar features vertical detection, a 60° field of view, a 35% increase in detection distance, and a 65% reduction in latency, improving performance in challenging parking scenarios [7]. Intelligent Cockpit - The HarmonySpace 5 cockpit integrates Huawei's ecosystem, focusing on "wisdom, fun, and care" to provide a luxurious experience [7][11]. - The cockpit features a 35.4-inch 4K panoramic screen and a 15.6-inch central control screen, supported by a high-end audio system, creating an immersive entertainment environment [11]. User Experience and Personalization - The cockpit includes various agents for navigation, vehicle control, news, and multimedia, enhancing user interaction and experience [9]. - Huawei's voice recognition technology allows for personalized adaptations, and the vehicle features unique zero-gravity front seats, contributing to a luxurious and caring experience [11].

Core Insights - The GAC Trumpchi Xiangwang S9 QianKun series was launched on September 19, featuring advanced technology and safety features, positioning it as a unique hybrid SUV in the 220,000 RMB price range [1][3]. Pricing and Offers - The market guidance price starts at 229,900 RMB, with a limited-time exchange price of 219,900 RMB, and exclusive launch benefits valued at over 40,000 RMB, including a 20,000 RMB Huawei QianKun intelligent driving ADS4 package [1]. Technology and Performance - The vehicle is equipped with Huawei's QianKun intelligent driving ADS4, which enhances driving efficiency by reducing end-to-end latency by 50% and improving traffic efficiency by 20% [3]. - It features a 192-line LiDAR and three 4D millimeter-wave radars, providing comprehensive safety and assistance in complex driving conditions [3]. Safety Features - The Xiangwang S9 incorporates the CAS 4.0 multi-dimensional safety system, designed to enhance active safety capabilities across various extreme scenarios [4]. - The vehicle's body is built to five-star collision standards, utilizing aerospace-grade materials for improved strength and energy absorption [4]. Comfort and Luxury - The interior is designed for comfort, featuring a 27-inch AR-HUD for enhanced navigation and safety, and a HarmonySpace 5 smart cockpit for seamless connectivity and entertainment [5]. - The vehicle includes a unique massage system in the front passenger seat, offering a high-end spa-like experience with multiple massage points and heating features [6]. Family-Friendly Features - The second row is equipped with independent ventilation, massage, and heating functions, enhancing comfort for all passengers [6]. - The vehicle also includes a 17.3-inch eye-care entertainment screen, certified for low blue light, ensuring a safe viewing experience for children and elderly passengers [7]. Overall Experience - The GAC Trumpchi Xiangwang S9 aims to create a mobile living space, combining advanced technology, safety, and comfort to enhance family travel experiences [7].

9月19日，国家市场监督管理总局官网显示，小米汽车科技有限公司向国家市场监督管理总局备案了召 回计划。召回公告中显示，本次召回范围内部分车辆在L2高速领航辅助驾驶功能开启的某些情况下， 对极端特殊场景的识别、预警或处置可能不足，若驾驶员不及时干预可能会增加碰撞风险，存在安全隐 患。 小米汽车回应，将通过汽车远程升级（OTA）技术为召回范围内的标准版SU7免费升级至Xiaomi HyperOS 1.10.0，完成本次OTA召回升级。 此消息一出，便迅速冲上热搜，引发网友热烈讨论。有网友直言："宁愿智驾晚来一点，也不要带着缺 陷早来一点。"还有网友提出疑问："车辆上市前的安全测试没有做到位吗？"不过，也有网友对小米的 应对持肯定态度，认为"小米汽车此举敢于直面问题，希望小米能吸取教训，进一步加强产品安全性 能"。 目前已有车主完成车机升级，车主张先生表示："车机升级很方便，仅用20多分钟就完成了版本更 新。"谈及召回公告中提及的车辆安全隐患，张先生告诉记者："在今年3月三名高校学生因交通事故遇 难后，自己对辅助驾驶的使用变得更加谨慎，极大减少了对辅助驾驶功能的使用。希望此次升级后，辅 助驾驶的安全性可以得到切实保 ...

Group 1 - The company has achieved rapid growth in its suspension systems, new energy, and intelligent connected vehicle sectors during the first half of the year, successfully securing multiple series of electronic control shock absorber orders from major automakers such as Chery, Seres, and Changan [2] - A total of 141 new orders have been acquired, with an expected lifecycle revenue of 32.05 billion yuan, of which 73.9% comes from the new energy sector [2] - The company has also obtained 79 orders from traditional markets, projecting a lifecycle revenue of 17.89 billion yuan, which accounts for 55.8% of the total, and 62 orders from newly expanded markets with a lifecycle revenue of 14.16 billion yuan, representing 44.2% [2] Group 2 - FUSAI, a subsidiary of the company, was established in 2020 and has focused on building research and development capabilities and expanding market orders, achieving significant breakthroughs in the supply chains of major automakers like Hongqi, Volkswagen, and Toyota [3] - The company has built a stable R&D output capability by obtaining various certifications, including CNAS national laboratory certification, ASPICE software level 3 certification, and TiSAX cybersecurity certification, along with ISO9001 and IATF16949 certifications [3] - FUSAI has rapidly entered the supply chains of major automakers, achieving comprehensive breakthroughs in core products such as screens, instruments, radar, antennas, and intelligent domain controllers, driving significant revenue growth [3]

Core Viewpoint - Desay SV's stock price has shown significant growth this year, with a year-to-date increase of 23.77%, and a notable rise of 12.67% in the last five trading days [1] Group 1: Stock Performance - As of September 19, Desay SV's stock price was 134.80 CNY per share, with a market capitalization of 748.07 billion CNY [1] - The stock experienced a net outflow of 36.64 million CNY in principal funds, with large orders showing a buy of 120 million CNY and a sell of 142 million CNY [1] - The stock has increased by 31.99% over the past 60 days [1] Group 2: Financial Performance - For the first half of 2025, Desay SV reported a revenue of 14.644 billion CNY, representing a year-on-year growth of 25.25% [2] - The net profit attributable to shareholders for the same period was 1.223 billion CNY, reflecting a year-on-year increase of 45.82% [2] Group 3: Shareholder Information - As of June 30, 2025, the number of shareholders increased by 20.92% to 59,000, while the average circulating shares per person decreased by 17.30% to 9,374 shares [2] - Since its A-share listing, Desay SV has distributed a total of 2.237 billion CNY in dividends, with 1.438 billion CNY distributed over the last three years [3] - The eighth largest circulating shareholder, Hong Kong Central Clearing Limited, reduced its holdings by 5.51 million shares, while Huatai-PB CSI 300 ETF increased its holdings by 372,000 shares [3] Group 4: Business Overview - Desay SV, established on July 24, 1986, specializes in the research, design, production, and sales of automotive electronic products [1] - The company's revenue composition includes 64.59% from smart cockpits, 28.32% from intelligent driving, and 7.09% from connected services and others [1] - Desay SV is categorized under the software development industry, specifically in vertical application software, and is involved in sectors such as smart cockpits, sensors, automotive electronics, and millimeter-wave radar [1]

Core Viewpoint - The launch of the Xiangjie S9T marks a significant step for the brand, showcasing its comprehensive product strength and ability to meet diverse user scenarios, representing the brand's transition to its 2.0 phase [1][12]. Group 1: Product Features and Technology - The Xiangjie S9T offers both range-extended and pure electric versions, with prices starting at 309,800 yuan and 329,800 yuan respectively, and has achieved over 7,500 pre-orders within 24 hours of its launch [1][12]. - The vehicle is equipped with advanced driving assistance systems, including 36 high-precision sensors and the new WEWA technology architecture, emphasizing its "fully loaded" capabilities [3][5]. - The S9T features a range of comfort and performance enhancements, such as air suspension, continuous variable damping, and a remarkable 801 km range for the pure electric version and 1,305 km for the range-extended version [5][11]. Group 2: Market Positioning and Consumer Insights - The S9T aims to redefine the travel car segment in China, traditionally viewed as niche, by combining the advantages of sedans and SUVs, thus appealing to a broader consumer base [9][11]. - The vehicle is designed to cater to various lifestyle needs, from urban commuting to outdoor activities, reflecting the evolving consumer demand for multifunctional vehicles [6][8]. - Insights from order analysis indicate a diverse customer base, including unmarried consumers seeking a blend of safety, luxury, and social attributes in their vehicles [8][11]. Group 3: Strategic Partnerships and Future Outlook - The collaboration between Huawei and BAIC has been deepened, focusing on a comprehensive ecosystem that includes dedicated teams and resources, with a planned investment of 20 billion yuan over the next three years [12][14]. - The strategic partnership aims to leverage Huawei's technology and BAIC's manufacturing expertise to enhance product offerings and market competitiveness [14][15]. - Analysts express optimism about BAIC's future prospects, noting that the S9T's launch could significantly impact the competitive landscape in the 300,000 yuan luxury car segment [15].

Core Viewpoint - The stock of Lian De Equipment has shown mixed performance in recent trading, with a year-to-date increase of 13.94% but a decline of 10.13% over the past 20 days, indicating volatility in investor sentiment and market conditions [1]. Financial Performance - As of June 30, Lian De Equipment reported a revenue of 637 million yuan for the first half of 2025, a year-on-year decrease of 5.34% [2]. - The net profit attributable to shareholders for the same period was 73.1 million yuan, reflecting a significant year-on-year decline of 34.78% [2]. Shareholder Information - The number of shareholders increased to 20,900, up by 4.42% compared to the previous period, while the average number of circulating shares per person decreased by 4.23% to 5,464 shares [2]. - The company has distributed a total of 158 million yuan in dividends since its A-share listing, with 80.4 million yuan distributed over the past three years [3]. Stock Performance and Market Activity - On September 18, the stock price of Lian De Equipment rose by 2.19% to 35.47 yuan per share, with a trading volume of 158 million yuan and a turnover rate of 3.80% [1]. - The stock's market capitalization stands at 6.578 billion yuan [1]. - Despite the recent price increase, the stock has experienced a net outflow of 13.96 million yuan in principal funds, with significant selling pressure observed [1]. Business Overview - Lian De Equipment, established on June 7, 2002, and listed on September 28, 2016, specializes in electronic equipment and solutions, with 98.18% of its revenue derived from equipment sales [1]. - The company operates within the electronic industry, specifically in the optical and panel sectors, and is associated with concepts such as small-cap stocks, full-screen displays, and smart cockpits [1].

Group 1 - The core point of the news is that Geely Galaxy announced the pre-sale of its new mid-size sedan, Galaxy Xingyao 6, which will start on September 26, featuring the new generation Raytheon AI Electric Hybrid 2.0 technology [1] Group 2 - The vehicle adopts a new design language with a shield-shaped front grille adorned with straight chrome strips and elongated front headlights [3] - The rear features a贯穿式 tail light group, enhancing the vehicle's recognition [3] - The interior follows the Galaxy family style, equipped with a flat-bottom dual-spoke multifunction steering wheel, a liquid crystal instrument panel, and a large suspended central control screen [3] Group 3 - The vehicle is equipped with Flyme Auto smart cockpit and supports HUAWEI HiCar and Carlink connectivity features [3] - It utilizes a self-developed 7nm Long Eagle No.1 automotive-grade chip for the vehicle's system [3] Group 4 - In terms of intelligent driving assistance, it features the Qianli Haohan H3 advanced driving assistance system, which includes 3 millimeter-wave radars, 11 internal and external cameras, 12 ultrasonic radars, and 128 Tops computing power [3] Group 5 - The new generation Raytheon EM-i super hybrid system has a maximum engine power of 82 kW [3] - It is equipped with a 17 kWh large-capacity battery pack, providing a pure electric range of up to 125 km [3]

Core Viewpoint - The launch of the Roewe M7 DMH marks a significant entry into the competitive plug-in hybrid sedan market, featuring advanced technology and a focus on customer service with a lifetime warranty on key components [1][2][3][10]. Product Launch and Features - The Roewe M7 DMH is positioned as a mid-to-large sedan, featuring the DMH 6.0 super hybrid system, with a limited-time price range of 85,800 to 102,800 yuan [1]. - The vehicle showcases a new design language developed by former Rolls-Royce design director Joseph Kabban, emphasizing confidence, elegance, and dignity [2]. - The M7 DMH includes an AI mCDC electromagnetic suspension system, enhancing driving comfort and performance through intelligent control of the chassis dynamics [3]. Warranty and Service Strategy - Roewe offers a lifetime warranty on five major components, including the engine and transmission, addressing consumer concerns about reliability and showcasing confidence in product quality [3][11]. - This warranty is a first in the market for vehicles with dual power systems, aiming to build trust with consumers [3]. Technological Innovations - The M7 DMH integrates advanced AI technology, including a deep learning model that enhances user interaction and vehicle responsiveness [4][5]. - The vehicle supports seamless connectivity with major smartphone brands, allowing for intuitive control and navigation features [4]. Market Positioning and Sales Strategy - The M7 DMH aims to disrupt the competitive 100,000 yuan plug-in hybrid sedan market, where brands like BYD and Geely have established strong footholds [2][11]. - The pricing strategy is designed to attract consumers by offering high value at a competitive price point, with expectations of achieving monthly sales exceeding 10,000 units [11][12]. Brand Transformation and Growth - Roewe has undergone a brand rejuvenation, focusing on core values of being dignified, cost-effective, and trustworthy, which has positively impacted sales performance [10][11]. - The brand's retail sales saw a 56% year-on-year increase in August, indicating a strong market response to its new strategies and product offerings [11][12].