Core Insights - The 2025 International Automotive Intelligent Cockpit Conference was held in Suzhou, focusing on AI-enabled cockpit innovation and the future ecosystem of human-vehicle interaction [1] - The conference featured discussions on key technologies, international standards, and talent cultivation in the intelligent cockpit sector, with participation from 800 experts and representatives [1][3] Industry Development - The global automotive industry is undergoing a historic transformation driven by technology and innovation, with China's intelligent cockpit sector leading due to its technological and market advantages [3] - The future development of intelligent cockpits requires a strong foundation in core technologies like cockpit models and high-performance chips, emphasizing user-centric design and international collaboration [3] Regional Insights - Jiangsu Province, as a major automotive industry cluster, has established a complete innovation system in areas like vehicle-mounted chips and intelligent cockpit solutions, positioning Suzhou as a key player in the intelligent connected vehicle sector [3] - The establishment of the Yangtze River Delta Technology Exchange Center is a result of strategic cooperation between the China Automotive Engineering Society and the Suzhou government, aimed at enhancing regional automotive industry development [4] Research Findings - The average score for intelligent cockpit evaluations reached 6.78, with most models scoring above 6, indicating significant advancements in technology and consumer experience [5] - The report on the intelligent cockpit standard system aims to establish a framework by 2026 and to lead global standards by 2035, filling gaps in key technology standards [5] Technological Innovations - The integration of technologies like Tesla's FSD and China's "vehicle-road-cloud" model is highlighted, with a focus on cost-effective solutions and the need for clearer business models in the intelligent connected vehicle sector [6] - New network security solutions, such as the Multi-Identification Network (MIN), are proposed to enhance data security and privacy in intelligent cockpits [7] User Experience and Interaction - The concept of "happy space" is introduced by Li Auto, emphasizing the role of intelligent cockpits in differentiating automotive brands through advanced interaction systems [8] - Companies like Zebra Zhixing are focusing on user value-driven transformations in intelligent cockpits, leveraging AI to create personalized user experiences [8] Future Directions - Unity's advancements in 3D real-time rendering technology are set to enhance intelligent cockpit functionalities, including music visualization and interactive navigation [9] - The industry is moving towards a more human-centered approach in cockpit design, exploring new applications like in-car gaming and meditation spaces [9]

证 券 研 究 报 告 计算机行业重大事项点评 稳增长方案发布，L3+智能驾驶迎产业新机 事项： ❑ 9 月 12 日，工业和信息化部等八部门公布关于印发《汽车行业稳增长工作方 案(2025—2026 年)》的通知。 评论： 行业研究 计算机 2025 年 09 月 16 日 推荐（维持） 华创证券研究所 证券分析师：吴鸣远 邮箱：wumingyuan@hcyjs.com 执业编号：S0360523040001 联系人：周志浩 邮箱：zhouzhihao1@hcyjs.com 行业基本数据 | | | 占比% | | --- | --- | --- | | 股票家数(只) | 337 | 0.04 | | 总市值(亿元) | 59,813.55 | 5.10 | | 流通市值(亿元) | 53,712.71 | 5.68 | 相对指数表现 | % | 1M | 6M | 12M | | --- | --- | --- | --- | | 绝对表现 | 6.9% | 9.8% | 106.8% | | 相对表现 | -1.0% | -3.3% | 63.3% | 0% 39% 78% 117% 24/09 24 ...

展望未来，长沙目标明确：建设"中部地区'车路云一体化'应用示范标杆"，推动智能网联汽车实现城市 级规模应用。以湖南湘江新区为核心，逐步扩展至全市域，并联动株洲、湘潭，共同构建辐射中南地区 的智能网联生态体系。 9月15日，作为2025互联网岳麓大会最受瞩目的硬科技论坛之一，AI与智能网联汽车产业融合发展 论坛在梅溪湖艺术博物馆举行。论坛上，长沙发布"车路云一体化"城市级智能网联全场景体系建设目 标，明确到2026年建成中部地区首个"车路云一体化"应用生态示范标杆，产业规模突破1000亿元，实现 智能网联车辆接入1万辆以上，完成1450平方公里试点区域C-V2X网络全覆盖。 在这一总体目标引领下，长沙将分阶段推进全域路侧智能网联化，实现5G网络全域覆盖及重点区域5G- A增强覆盖，完成信号机网联化改造与重点路口路段的全面感知能力建设。 以应用场景为导向，长沙将推进"十城十车"数据互联示范，与上海、杭州、成都、合肥、无锡等城市协 同，推动红绿灯信息、道路信息等数据能够面向车端提供C-V2X应用服务；构建智能电轨、网联公交、 微循环小巴、自动驾驶出租车等联动的智慧交通体系；推动无人配送、无人环卫、无人零售等功能型无 ...

Core Viewpoint - The news highlights the positive impact of multiple policies on the new energy sector, particularly in the electric vehicle (EV) market, leading to significant stock price increases for key players in the industry [1][3]. Industry Overview - The electric vehicle ETF (516380) saw a price increase of over 4.6% during the day, closing up 2.93%, reaching its highest point since August 2022 [1]. - Key stocks in the battery sector, such as Tianci Materials and Hunan Youneng, experienced substantial gains, with Hunan Youneng rising by 10.77% and Tianci Materials by 9.99% [3]. - The automotive sector is witnessing a shift towards smart technology, with major companies like Junsen Electronics and Top Group also seeing significant stock price increases [3]. Policy and Market Drivers - The Ministry of Industry and Information Technology, along with seven other departments, recently issued a plan aiming for approximately 32.3 million vehicle sales in 2025, including 15.5 million new energy vehicles [3]. - The upcoming World Energy Storage Conference in Ningde, Fujian, from September 16-18, is expected to further promote advancements in energy storage technologies [4]. - The solid-state battery industry is accelerating its development, with major companies like CATL and Guoxuan High-Tech announcing mass production plans, aiming for GWh-level capacity by 2026 [4]. Investment Opportunities - The automotive parts sector is expected to benefit from the integration of smart technologies, with projections for significant valuation increases across the automotive industry [5]. - The smart electric vehicle ETF (516380) focuses on leading companies in both electrification and smart technology, presenting long-term investment opportunities for those interested in the electric vehicle sector [7].

Group 1 - The core viewpoint of the article is the release of the "Automobile Industry Stabilization Growth Work Plan (2025-2026)" by the Ministry of Industry and Information Technology and other departments, aiming for automobile sales of approximately 32.3 million units in 2025, representing a year-on-year growth of about 3% [1] - The plan emphasizes expanding domestic consumption as a key strategy, with initiatives including the promotion of over 700,000 new energy buses and logistics vehicles in 25 pilot cities for electric vehicles, and the implementation of tax reductions for new energy vehicle purchases [3] - The plan also supports the replacement of old vehicles with new ones, encourages the expansion of the aftermarket, and suggests optimizing purchase restrictions in regions with such policies [3] Group 2 - The plan positions intelligent development at its core, focusing on the industrial application of intelligent connected technology and the construction of networked infrastructure and cloud control platforms [5] - It encourages the production approval of L3 level vehicles, which are conditionally automated driving cars, and aims to improve safety and insurance regulations [5] - The article mentions a new grading system for intelligent driving capabilities introduced by the China Automotive Engineering Research Institute, which categorizes intelligent driving into three levels based on technological maturity [9]

Important Market News - The Ministry of Commerce received an anti-dumping investigation application on July 23, 2025, regarding imported simulation wafer products from the United States, leading to a formal investigation starting September 13, 2025 [1] Industry Insights - Micron Technology announced a price increase of 20%-30% for its memory products, halting all quotes for DDR4, DDR5, LPDDR4, and LPDDR5 products due to anticipated supply shortages [2] - SanDisk has also raised its storage product prices by over 10%, indicating a new wave of price increases in the storage industry [2] - Cloud service providers are increasing capital expenditures by $18 billion in fiscal year 2025, driving demand for storage in the AI sector [2] - According to TrendForce, NAND Flash wafer and client SSD prices rose by 10%-15% and 3%-8% respectively in Q2 2025, with DRAM prices increasing by approximately 72% over six months [3] - The digital yuan sector is seeing positive developments, with a draft regulation aimed at promoting electronic document applications and exploring new payment methods, including the digital yuan for cross-border payments [4] - The global retail cross-border payment market is projected to grow from $39.9 trillion in 2024 to $65 trillion by 2032, with B2B payments dominating [4] - The Ministry of Industry and Information Technology issued a plan to promote the industrial application of intelligent connected vehicles, including trials for L3-level vehicle production [5] - The "vehicle-road-cloud integration" is expected to generate an additional output value of 725.9 billion yuan in 2025, growing to 25.825 trillion yuan by 2030, with a compound annual growth rate of 28.8% [6]

Core Insights - The Ministry of Industry and Information Technology and seven other departments jointly released the "Automobile Industry Stabilization and Growth Work Plan (2025-2026)", aiming for approximately 32.3 million vehicle sales in 2025, a 3% year-on-year increase, with new energy vehicle sales targeted at around 15.5 million, representing a 20% growth [1][2] Group 1: Industry Goals - The plan sets a target for 2026 to maintain a stable and positive development trend in the industry, with further improvements in scale and quality [1][2] - In 2024, the automobile sales reached 31.436 million units, a 4.5% increase year-on-year, with new energy vehicle sales at 12.866 million units, up 35.5% [1] Group 2: Policy Measures - The plan includes 15 key initiatives across four dimensions: expanding domestic consumption, improving supply quality, optimizing the development environment, and deepening open cooperation [2][3] - Specific measures include promoting the consumption of new energy vehicles, supporting vehicle trade-in programs, and enhancing the second-hand vehicle market [2][3] Group 3: Technological Innovation - The plan emphasizes the industrialization of intelligent connected technology, including the integration of vehicle-road-cloud applications and the promotion of high-performance communication modules [3] - It aims to stimulate potential consumer demand through technological innovation, focusing on key technologies such as automotive chips and solid-state batteries [3] Group 4: Export and Financial Services - The plan proposes measures to enhance the quality and efficiency of automobile exports, including improving financial services for exports and optimizing logistics systems [4] - It encourages financial institutions to provide credit support and risk management services for automotive enterprises, addressing challenges such as currency fluctuations [4]

Core Insights - The Ministry of Industry and Information Technology and eight other departments have jointly issued a plan to stabilize the automotive industry, aiming for approximately 32.3 million vehicle sales in 2025, a year-on-year increase of about 3% [1] - The plan sets a target of 15.5 million new energy vehicle sales in 2025, representing a year-on-year growth of around 20%, indicating a rapid transition towards electrification in the industry [1] - The automotive manufacturing industry's value-added is expected to grow by about 6% year-on-year, reflecting strong policy confidence in stabilizing growth [1] Industry Growth Targets - The plan aims for 2025 automotive sales of approximately 32.3 million units, with new energy vehicles expected to reach 15.5 million units [1] - The automotive manufacturing value-added is targeted to grow by around 6% year-on-year [1] - The overall automotive market is projected to maintain a stable growth trajectory through 2026 [1] Competition Regulation - The plan emphasizes the need to address issues of disorderly competition in the automotive sector, including establishing a feedback mechanism for key enterprises to address supplier payment issues [3] - It calls for a crackdown on false advertising and commercial defamation, as well as enhanced supervision of product consistency [3] - The plan encourages the consolidation of automotive production enterprises to improve resource allocation efficiency [3] Smart Connected Vehicles - The plan promotes the approval and trial of L3-level smart connected vehicles, marking a significant step towards the commercialization of autonomous driving in China [4] - It includes initiatives for integrated applications of smart connected vehicles and infrastructure development [4] - The plan supports the exploration of new business models across automotive, information communication, and transportation sectors [4] Key Technology Development - The plan outlines a focus on accelerating breakthroughs in automotive chips, operating systems, artificial intelligence, and solid-state batteries [5] - It emphasizes the importance of technological innovation in enhancing the core competitiveness of the Chinese automotive industry [5] - The plan encourages collaboration among enterprises of various sizes to foster innovation [5] Talent Development - The plan highlights the need to attract high-level talent in key areas such as automotive chips and operating systems [6] - It supports the establishment of national engineering practice bases in the smart connected vehicle sector to enhance local talent cultivation [6] Consumer Promotion Policies - The plan includes measures to promote vehicle replacement and trade-in programs, as well as the optimization of purchase restrictions in certain regions [7] - It aims to promote the adoption of new energy vehicles in public transport and logistics, targeting the addition of over 700,000 new energy vehicles in 25 pilot cities [7] - The plan also encourages reforms in automotive circulation and second-hand vehicle sales to enhance market efficiency [7]

Core Insights - The Ministry of Industry and Information Technology and eight other departments issued a notice on the "Automobile Industry Stabilization and Growth Work Plan (2025-2026)", aiming for a total automobile sales target of approximately 32.3 million units in 2025, representing a year-on-year growth of about 3%, with new energy vehicle sales expected to reach around 15.5 million units, a growth of about 20% [1] Group 1: Industry Growth Targets - The plan sets a target for 2025 to achieve approximately 32.3 million vehicle sales, with a year-on-year increase of about 3% [1] - New energy vehicle sales are projected to be around 15.5 million units, reflecting a year-on-year growth of approximately 20% [1] - The automotive manufacturing industry's added value is expected to grow by about 6% year-on-year [1] Group 2: Smart Connected Vehicles - The plan promotes the industrial application of smart connected technology, including trials for L3 level vehicle production approval [3] - It encourages the development of V2X and 5G communication modules and the large-scale application of the Beidou system [3] - The initiative aims to foster new business models through data collaboration among automotive, information communication, and transportation industries [3] Group 3: Technological Innovation - The plan emphasizes accelerating breakthroughs in key technologies such as automotive chips, operating systems, artificial intelligence, and solid-state batteries [4] - It aims to enhance product performance and develop new features that meet consumer demands through technological innovation [4] - The initiative includes a special action to promote the upward development of Chinese automotive brands with international competitiveness [4] Group 4: Pilot Programs and Approval Processes - The pilot program for smart connected vehicles involves a multi-stage process including application, product approval testing, and road access trials [5][6] - The selection process for pilot programs involves expert evaluations to ensure comprehensive capability and safety assessments [6][7] - The expected outcomes of the pilot programs include improved capacity building for manufacturers and the establishment of a robust legal and regulatory framework [9]

Core Viewpoint - The article discusses the "Automobile Industry Stabilization and Growth Work Plan (2025-2026)" issued by eight departments, aiming to achieve a target of approximately 32.3 million vehicle sales in 2025, with a focus on boosting the electric vehicle market and enhancing the overall quality and efficiency of the automotive industry [3][5][28]. Summary by Sections Overall Requirements - The plan is guided by Xi Jinping's thoughts and aims to implement the spirit of the 20th National Congress of the Communist Party, focusing on stabilizing growth while promoting quality improvements in the automotive sector [11][35]. Main Goals - The target for 2025 is to achieve around 32.3 million vehicle sales, a year-on-year increase of about 3%, with approximately 15.5 million of those being new energy vehicles (NEVs), reflecting a 20% growth. The automotive manufacturing value-added is expected to grow by around 6% [12][37]. Work Measures - **Expanding Domestic Consumption**: Initiatives include promoting the electrification of public vehicles, supporting the replacement of old vehicles, and enhancing the infrastructure for charging stations [15][38]. - **Improving Supply Quality**: Emphasis on technological innovation to stimulate consumer demand, upgrading standards to enhance product quality, and ensuring the stability of the supply chain [18][40]. - **Optimizing Industry Development Environment**: This includes improving infrastructure for charging stations, reforming management policies for vehicle production, and ensuring fair competition within the industry [21][42]. - **Enhancing International Cooperation**: Encouraging automotive exports, improving financial services for exports, and fostering multi-level international collaboration [23][50]. Safeguard Measures - The plan includes strengthening coordination among departments, enhancing monitoring of industry operations, and focusing on talent development to support the automotive sector's growth [26][28].