Group 1 - The core point of the article is that Faraday Future (FF) successfully passed all proposals at its annual shareholder meeting, which supports the goal of launching its first vehicle, FX, by the end of 2025 [1][2] - The approval of key proposals, including board elections, private placement, and share authorization, indicates strong shareholder support for the current management team, with all five board candidates receiving over 95% of the votes [1] - The private placement will enhance FF's financial strength, helping the company maintain compliance with NASDAQ listing requirements and creating conditions for future financing [1][2] Group 2 - The share authorization proposal increased the number of common shares from 129 million to 167 million, a 29% increase, allowing room for future mergers, acquisitions, and strategic partnerships [1] - FF reiterated its firm opposition to share consolidation, committing to enhancing shareholder value through capital structure optimization while maintaining NASDAQ listing status [1] - The FX prototype has received public road testing approval, and the first mass-produced model, Super One, is set for a product launch event this summer, with positive feedback from U.S. consumers and dealers [2] Group 3 - Management's decision to increase their holdings through a 10b5-1 purchase plan, totaling $610,000 in FF common stock, is seen as a sign of confidence in the company's long-term development [2] - The stock price of FFAI rose 8.2% despite a general downturn in the U.S. stock market and the electric vehicle sector, with a peak increase of 16% during trading [2] - The upcoming timeline for the FX product line and the goal of achieving strategic objectives by 2025 will be critical in assessing the viability of FF's business model [2]

Core Viewpoint - Daiwa's report indicates that Horizon Robotics (09660.HK) is expected to be one of the least affected companies in the automotive supply chain by U.S. tariffs, with a focus on the rising average selling price driving revenue growth in 2023 [1] Group 1: Revenue Growth Drivers - The company is projected to deliver 3.9 million chips in 2025, representing a year-on-year increase of 34% [1] - The average selling price of the chips is expected to reach 391 RMB in 2025, a significant increase of 71% compared to 229 RMB in 2024 [1] - The trend towards advanced driver-assistance systems is anticipated to benefit the company significantly [1] Group 2: Investment Outlook - Daiwa maintains a target price of 6.5 HKD and reiterates a "buy" rating for Horizon Robotics [1] - The end of the company's lock-up period on April 24 is seen as a favorable entry point for investors [1] - The company is expected to find more ways to monetize its software capabilities starting in 2025 [1]