10月10日，Horizon Robotics（地平线）宣布，根据配售及认购协议的条款及条件，其股份配售及认购事项已于2025年10月9日成功完成。此次配售共涉及 639,028,800股股份，每股配售价及认购价均为9.99港元，所得款项净额约为6,339.4百万港元。 地平线致力于加强与上游及下游客户和生态合作伙伴的业务合作，通过私募股权投资、首次公开招股的基石或锚定投资，加深资本相关协作。近期例子包括 以基石及锚定投资者身份参与奇瑞汽车在香港的上市，以及参与一汽奔腾汽车有限公司的增资。展望未来，地平线将继续参与主要合作伙伴的资本运作。 扩大海外市场业务（10%） 2025年9月8日，地平线在德国IAA MOBILITY 2025展览上宣布在慕尼黑设立欧洲总部，旨在建立欧盟市场当地运营能力，为欧洲的中国及全球汽车制造商 提供技术支持，并加快智能驾驶技术在全球的普及化。此外，地平线通过与多家国际一级供应商合作，在中国以外市场获得两项日本OEM定点，并支持多 家中国OEM在国际市场上拓展，推出超过25款车型。 投资研发以进一步提升技术能力（60%） 2025年上半年，云服务费用及其他技术服务采购方面的增长导致研 ...

央视网消息："喝酒不开车，开车不喝酒"是一条驾驶"铁律"。如今，随着智能驾驶技术的迅速发展，有人就心生侥幸了。 刚才片子里有提到一个词——"智驾神器"。相关法律人士介绍，商家公开售卖的所谓"智驾神器"，无论是生产、销售还是使用均属于违法 行为。 ...

Core Insights - GAC Trumpchi has launched the new Trumpchi Xiangwang S7 Pro+ series, starting at a price of 159,800 yuan, with lifetime warranty on the three electric components for the first owners [1] - The Xiangwang series has achieved a brand recognition rate of 65.7% within six months of its launch, with the S7 model being the highest-rated in user satisfaction for the brand [1] Group 1: Product Features - The Xiangwang S7 Pro+ series is equipped with the Qualcomm Snapdragon 8295P chip and features a new PAD-style vehicle interface, supporting system updates for up to 10 years [2] - The vehicle includes a unique variable-focus, mid-to-long-range laser radar for centimeter-level detection accuracy, along with 27 high-precision sensors powered by the NVIDIA Orin-X chip, offering a computing power of 254 TOPS [2] - The S7 is equipped with a 36.3 kWh battery, providing a pure electric range of 205 km, and utilizes a modular battery design that meets the new national standards set for 2026 [2] Group 2: Interior and Comfort - The S7 Pro+ series boasts the highest interior height in its class at 1.268 meters, with second-row seatbacks adjustable up to 137 degrees and unique electric stepless adjustment [2] - The interior features luxury-grade materials, including a 15mm thick slow-rebound memory foam layer in the seats, and a total interior area covered with soft-touch materials exceeding 23 square meters, complemented by a 2.6 square meter panoramic glass roof [2] Group 3: Manufacturing and Quality Assurance - GAC Trumpchi emphasizes its high manufacturing quality, adhering to design standards that exceed industry norms, supported by a testing team of over 300 members and more than 1,000 testing projects [3] - The production is based in China's first 919 aviation-quality smart factory, utilizing nine advanced manufacturing technologies and nine specialized precision processes to ensure durability and reliability [3] Group 4: Market Positioning - The S7 Pro+ series is competitively priced at 159,800 yuan, accompanied by a "5 years 100,000 km interest-free" financing policy and various high-value benefits [3] - The introduction of the Momenta R6 flying wheel model in the S7 Pro+ series is expected to enhance smart driving technology accessibility across a broader price range, increasing competitive pressure on other hybrid SUV brands in the same segment [3]

Core Viewpoint - Chery Automobile Co., Ltd. has successfully listed on the Hong Kong Stock Exchange, marking a significant milestone for the company after 21 years of preparation, with a fundraising scale of HKD 91.4 billion (approximately RMB 8.376 billion) [1][3] Group 1: Listing Details - Chery's IPO was priced at HKD 30.75 per share, making it the largest car company IPO in the Hong Kong market for 2025 [1] - The public offering was met with strong demand, receiving over 300 times subscription, and the stock opened at HKD 34.2 per share on the first day, reflecting an increase of 11.22% from the issue price [3] Group 2: Financial Performance - According to the prospectus, Chery is projected to achieve a revenue of RMB 269.897 billion and a net profit of RMB 14.334 billion in 2024 [3] - For the first quarter of 2025, the company expects a revenue of RMB 68.223 billion and a net profit of RMB 4.726 billion, indicating a strong and sustainable profitability [3] Group 3: Market Position and Strategy - Chery has been the leading exporter of Chinese self-owned brand passenger vehicles for 22 consecutive years, with 546,000 units exported in the first half of 2025, covering over 100 countries and regions [3] - The company plans to allocate 35% of the raised funds towards the development of new energy vehicles, 25% towards intelligent driving technologies, and 20% to support its global expansion [3]

2024年底，奔驰宣布向Momenta投资约7500万美元，并计划从2025年起在中国市场推出至少四款搭载 Momenta高级驾驶辅助系统（ADAS）软件的车型。 早在2017年，奔驰就成为首个投资Momenta的国际车企，双方团队共同研发全新智能辅助驾驶系统。该 系统依据中国实际交通路况和驾驶场景开发，经由中德团队调校，成为"更懂中国"的智能辅助驾驶方 案。 9月25日讯，奔驰正通过深化与中国科技企业的合作，加速其在中国市场的智能驾驶技术落地。奔驰与 Momenta联合开发的端到端智能辅助驾驶方案，将首次搭载于今年秋投产的纯电CLA车型。未来，这一 系统还会拓展至更多梅赛德斯-奔驰车型。 （原标题：奔驰联手Momenta 新一代智能辅助驾驶系统将首搭纯电CLA） ...

Core Viewpoint - The acquisition of a 35.8% stake in Zhuoyu Technology by FAW is expected to enhance operational collaboration and accelerate production, although concerns exist regarding potential impacts on partnerships with other automakers [1][3]. Group 1: Acquisition Details - FAW has signed an agreement to acquire a stake in Zhuoyu Technology, which was previously controlled by New Territory Technology Company Limited [1]. - Post-transaction, FAW will become the largest single shareholder of Zhuoyu Technology, with New Territory holding 34.85% [1]. - Zhuoyu Technology is expected to maintain independent operations despite the new ownership structure [1]. Group 2: Company Background - Zhuoyu Technology originated from DJI's automotive division and was established in 2016, focusing on intelligent driving technology [2]. - The company became independent from DJI in 2023 and officially adopted the "Zhuoyu" brand in June 2024 [2]. - Zhuoyu Technology has been recognized as a pioneer in intelligent driving, launching its first assisted driving solution in 2022 on the Baojun KiWi EV model [2]. Group 3: Market Position and Challenges - Despite its innovations, Zhuoyu Technology has faced criticism for lagging behind competitors in market presence and production scale [2]. - As of this year, Zhuoyu Technology has expanded its partnerships to nine automakers, including BYD and Audi, and has nearly 20 production models [3]. - The acquisition by FAW may strengthen Zhuoyu's operational ties with FAW but raises questions about its ability to collaborate with other automakers [3].

Core Viewpoint - Mate Automotive has introduced a battery ejection technology designed to enhance safety by ejecting malfunctioning batteries from electric vehicles, allowing occupants to escape potential hazards quickly [2][3]. Technology Innovation Considerations - The development of the battery ejection technology was driven by market research aimed at addressing safety concerns related to electric vehicle fires, which have negatively impacted consumer confidence [3]. - The technology consists of two main components: a gas generator similar to airbags and a side-insertion battery replacement method [3][4]. - The ejection process is initiated by the vehicle's Battery Management System (BMS) detecting battery anomalies or imminent collisions, ejecting the battery 3 to 6 meters away within one second [3][4]. Advantages of the Technology - Low Cost: The side-insertion battery replacement method does not significantly increase costs compared to traditional bottom replacement methods [5]. - Minimal Secondary Loss: The technology aims to minimize secondary damages by ensuring batteries do not ignite or explode within a specified timeframe [6]. - Reduced Battery Loss: By segmenting large batteries into smaller units, only the malfunctioning battery is ejected, allowing the remaining batteries to remain operational [7]. - Strong Compatibility: The system supports various battery configurations and is compatible with both 400V and 800V platforms [8]. - Minor Vehicle Modifications: The technology requires minimal alterations to existing vehicle designs, making it easier to implement on production lines [9]. Safety Protocols - The ejection system only activates under specific conditions, ensuring safety by not executing ejections in unsafe environments [10]. - After ejection, vehicle owners can use a fire blanket to cover the battery, reducing potential hazards [10]. Industry Feedback and Recommendations - Insurance representatives noted that the technology could lower claims costs and enhance passenger safety, suggesting the need for transparent data on ejection success rates [11]. - Automotive engineers emphasized the importance of integrating the ejection system with advanced driving technologies and addressing space constraints in vehicle designs [13][14]. - The need for consumer education on the technology's benefits was highlighted, as many consumers are willing to pay more for enhanced safety features [14][15]. - Engineers also pointed out the necessity of ensuring that the ejection mechanism operates swiftly and safely, considering the evolving trends in battery design [15][16].

Core Insights - Hello announced a strategic investment in its Robotaxi business from Alibaba Group, aiming to enhance low-cost, high-safety, and reliable smart driving technology for commercializing Robotaxi services [1] - The collaboration will focus on building foundational models in vision, voice, and language, as well as specialized models for smart cockpits, while exploring innovative applications in autonomous driving [1] - Three months prior, Hello entered the Robotaxi sector by establishing "Zao Fu Intelligent Technology Co., Ltd." with Ant Group and CATL, focusing on L4 autonomous driving technology development, safety applications, and commercialization, with an initial investment exceeding 3 billion yuan [1]

Group 1: HeSai Technology - HeSai Technology officially listed on the Hong Kong Stock Exchange on September 16, marking the largest IPO in the global LiDAR industry with approximately HKD 4.16 billion raised for R&D and capacity expansion [1] - In the first half of the year, HeSai Technology delivered a total of 547,900 LiDAR units, surpassing the total for the entire year of 2024 [1] Group 2: Lantu Automotive - Lantu Automotive's registered capital has increased to CNY 3.68 billion following a corporate name change and type conversion to a non-listed joint-stock company [2] - This significant capital increase is expected to provide stronger financial support for Lantu's future production and R&D efforts, enhancing market recognition of its growth potential [2] Group 3: Changan Automobile - Changan Automobile signed a strategic cooperation agreement with China Reform Holdings on September 12, aiming to deepen collaboration in investment and financing, and promote innovation in technology and industry [3] - This partnership is anticipated to enhance Changan's competitiveness in the market and stimulate growth in related industry sectors [3] Group 4: Passenger Car Inventory - As of the end of August, the national passenger car inventory stood at 3.16 million units, a decrease of 130,000 units from the previous month, indicating a positive trend in inventory reduction [4] - The overall inventory decline is primarily attributed to channel inventory, with dealer pressure alleviating, and the current inventory supports an estimated 42 days of future sales [4]

| 2025年9月17日星期三 | NO.1 禾赛科技登陆港交所 9月16日，禾赛科技（HSAI.US；02525.HK）正式在香港交易所主板上市，实现港股美股双重上市，成 为全球激光雷达行业规模最大的IPO（首次公开募股）。禾赛科技表示，募资约41.6亿港元，将用于研 发、产能扩张等。上半年，禾赛科技激光雷达总交付量达54.79万台，已超过2024年全年。 点评：禾赛科技实现港股美股双重上市，标志其在全球激光雷达行业的领先地位，也反映出市场对智能 驾驶技术的强烈关注。禾赛科技的募资计划主要用于研发和产能扩张，预示其未来产品的竞争力或将进 一步增强，有利于促进相关板块的活跃度。 NO.2 岚图汽车注册资本增至36.8亿元 人民财讯9月16日消息，近日，原岚图汽车科技有限公司完成工商变更，企业名称变更为岚图汽车科技 股份有限公司，企业类型转为"其他股份有限公司（非上市）"，注册资本大幅提升至36.8亿元。该公司 成立于2021年，由东风集团股份（00489.HK）控股。 点评：岚图汽车的注册资本增至36.8亿元，并完成企业名称及类型的工商变更，标志着其在企业结构上 的重要升级。这一举措可能为岚图在未来的生产与研 ...