Core Insights - RoboSense has secured a new pre-installation mass production contract with FAW Toyota for a well-known best-selling model, with a cumulative order scale of nearly 1 million units over five years [1] - This marks RoboSense's second significant collaboration with FAW Toyota, following a three-year exclusive contract for a pure electric model [1] - RoboSense is the first Chinese technology company to enter Toyota's lidar supply chain, having previously supported the launch of FAW Toyota's bZ5 and bZ3 models [1] Company Developments - The new model contract highlights Toyota's high recognition and continued trust in RoboSense's technological strength and product reliability [1] - RoboSense aims to deepen its collaboration with FAW Toyota, leveraging its digital lidar technology to promote the global application of high-quality smart new energy vehicles [1] - The company has also secured contracts with international automakers such as Audi, Volkswagen, and North American new energy companies, with total orders exceeding 1 million units [1] Industry Impact - RoboSense's leading digital technology is driving the intelligent upgrade of new energy vehicles for global automakers [1]

Core Insights - RoboSense has secured a new pre-installation mass production contract with FAW Toyota for a well-known best-selling model, with a cumulative order scale of nearly 1 million units over five years [1] - This marks RoboSense's second significant collaboration with FAW Toyota, following an exclusive three-year contract for a pure electric model [1] - RoboSense is the first Chinese technology company to enter Toyota's lidar supply chain, having previously supported the launch of FAW Toyota's bZ5 and bZ3 models [1] Company Performance - The new model contract highlights Toyota's high recognition and continued trust in RoboSense's technological strength and product reliability [1] - RoboSense aims to deepen its collaboration with FAW Toyota, promoting the global application of high-quality smart new energy vehicles [1] - The company has also secured contracts with international automakers such as Audi, Volkswagen, and North American new energy companies, with total orders exceeding 1 million [1] Industry Impact - RoboSense's leading digital lidar technology is driving the intelligent upgrade of new energy vehicles globally [1] - The company's advancements in digital lidar technology are positioned to empower global automakers in their transition to smart vehicle solutions [1]

Economic Indicators - The US core PCE price index rose by 0.2% month-on-month in September, aligning with expectations. Year-on-year, it increased by 2.8%, slightly below the expected 2.9% and the previous value of 2.9% [1] - Personal spending in the US increased by 0.3% month-on-month in September, matching expectations, while the previous value was revised down from 0.6% to 0.5% [1] Gold Market - Spot gold prices briefly surpassed $4240 per ounce, with an intraday increase of nearly 1%. The World Gold Council indicated that the market generally expects the upward trend in gold prices to continue, although uncertainties remain high [2] Technology Sector - Arm's stock rose over 2% following an agreement with the South Korean Ministry of Trade, Industry and Energy to train approximately 1400 advanced chip design experts, enhancing South Korea's system-on-chip (SoC) capabilities [4] - Netflix's stock fell nearly 1% as the company announced plans to acquire Warner Bros. Discovery for approximately $827 billion in total enterprise value, maintaining the existing operational model of Warner Bros. [4] - Micron Technology's stock increased by over 3% after the company announced its exit from the consumer business to focus on advanced storage chips for the AI era [4] - SanDisk's stock rose over 1% amid a significant price increase in the storage industry, with SanDisk raising NAND flash contract prices by about 50% in early November [4] AI and Cloud Services - Google's stock rose over 1% after announcing a multi-year partnership with AI programming startup Replit, aiming to enhance its cloud services and challenge competitors in the AI coding market [5] - Baidu's stock increased by nearly 4% as reports highlighted its development of a comprehensive AI stack, including proprietary AI chips and advanced cloud services [7] Automotive Sector - XPeng Motors' stock rose nearly 3% following the launch of a collaboration for a flying car project in Guangzhou [7] - Hesai Technology's stock increased by nearly 3% after the release of a new high-performance intelligent control chip and a safety laser radar update [7]

Core Insights - The company SUTENG has achieved a significant milestone by delivering over 150,000 units of laser radar in November [2] - In the automotive sector, SUTENG's EM platform digital laser radar has secured contracts with 13 car manufacturers for 56 vehicle models, including major brands like SAIC Audi and European joint ventures [2] - The EM4+E1 digital combination has been selected for Didi's new generation Robotaxi [2] - In the robotics sector, RoboSense's digital product solutions are being iterated and applied in markets such as unmanned delivery and lawn mowing robots [2]

二是TechStar与目标公司、控股股东及多家资本市场中介人订立配售协议，拟按每股10港元的价格，向专业投资者配售8,409,500股继承公司股份（简 称"PEF配售股份"），募资总额8409.5万港元，该部分股份占交割后继承公司已发行股本的0.65%。参与此次配售的中介机构阵容强大，包括清科资本、 中信证券（香港）、中信建投（国际）融资等联席保荐人，以及信银（香港）资本、星展亚洲融资、大和资本市场香港、富途证券国际（香港）、老虎 证券（香港）等多家联席全球协调人、联席账簿管理人及联席牵头经办人。 公告显示，此次获准股权融资股份合计占交割后继承公司已发行股本的2.86%，所得款项总额3.708亿港元，扣除相关费用及开支后，净所得款项约3.605 亿港元。资金将按通函规划用途分配：约60%用于研发新激光雷达架构及软硬件升级，20%用于现有生产线升级，10%用于继承公司全球扩张，剩余10% 作为一般公司用途。 配售协议同时约定了多项交易条件，包括联交所批准继承公司股份及上市权证上市、继承公司上市时拥有不少于100名专业投资者、相关政府部门批准文 件持续有效等。 12月4日，香港特殊目的收购公司（SPAC）Tech ...

速腾聚创11月激光雷达交付量已突破15万台。在车载领域，截至11月25日，其EM平台数字化激光雷达 已斩获上汽奥迪、上汽智己、北美新能源车企、欧洲头部车企合资品牌等13家车企56款车型定点； EM4+E1数字化组合收获滴滴自动驾驶新一代Robotaxi定点；在机器人领域，速腾聚创数字化产品方案 陆续在无人配送、割草机器人等市场完成迭代及应用。 ...

Core Insights - RoboSense has achieved a significant milestone by delivering over 150,000 units of its LiDAR technology in November, indicating strong growth in the automotive and robotics markets [1] - The company is the only one globally to have developed a fully self-researched chip for the entire digital LiDAR process, which has received AEC-Q series automotive certification [4] Group 1: Product and Technology - RoboSense has established a unique product matrix of mass-producible digital LiDAR products based on SPAD-SoC and VCSEL digital architecture, supporting advancements in ADAS, Robotaxi, and autonomous delivery sectors [4] - The digital LiDAR products are recognized for their excellent performance, automotive-grade reliability, and high integration, leading to widespread acceptance across multiple fields [4] Group 2: Market Penetration - As of November 25, RoboSense's EM platform digital LiDAR has secured contracts with 13 automotive companies, including major brands like SAIC Audi and North American electric vehicle manufacturers, covering 56 vehicle models [4] - The EM4+E1 digital combination has been selected for Didi's next-generation Robotaxi, showcasing the company's influence in the autonomous driving sector [4] Group 3: Industry Impact - RoboSense's digital product solutions are being iteratively applied in markets such as autonomous delivery and robotic lawn mowers, positioning the company as a key driver of industry growth [4]

Core Insights - RoboSense has achieved a significant milestone with laser radar deliveries surpassing 150,000 units in November, driven by its self-developed chips and advanced digital architecture [1][4] - The company is the only global entity to have developed a complete in-house chip solution for digital laser radar, which has received AEC-Q series automotive certification [4] Group 1: Product and Technology - RoboSense has established a unique product matrix of mass-producible digital laser radar solutions based on SPAD-SoC and VCSEL digital architecture [4] - The digital laser radar products support various applications including ADAS, Robotaxi, unmanned delivery, and lawn mowing robots, facilitating significant advancements in intelligent robotics [4] Group 2: Market Recognition and Partnerships - The digital laser radar has gained widespread recognition across multiple sectors, with notable partnerships including 13 automotive manufacturers and 56 vehicle models in the automotive sector as of November 25 [4] - The EM4+E1 digital combination has secured a new generation of Robotaxi contracts with Didi, showcasing the product's applicability in autonomous driving [4]

Core Viewpoint - Hesai Technology (HSAI.US) has seen a significant stock price increase following the release of its new high-performance smart control chip and safety technology for LiDAR systems, indicating strong market interest and potential growth in the autonomous driving sector [1][2]. Group 1: Product Developments - Hesai launched the Fermi C500, a high-performance smart control chip based on the RISC-V architecture, which completes its fourth-generation chip platform [1]. - The Fermi C500 is the world's first LiDAR-specific control chip with dual certification for functional safety and cybersecurity, meeting stringent reliability and information security requirements for automotive applications [1]. - The chip integrates multiple functions, including MCU, FPGA, and ADC, and features a 256-core waveform processing engine for enhanced performance in complex weather conditions [1]. Group 2: Market Outlook - According to CICC, the shipment volume of car-mounted LiDAR in China is expected to exceed 3 million units by 2025 and 10 million units by 2028, with a compound annual growth rate of 58% [2]. - The robotics sector is identified as a new growth area for LiDAR technology, while overseas markets are anticipated to experience significant growth [2].

周四，禾赛(HSAI.US)股价延续上周升势，盘前涨5%，报20.17美元。据悉，禾赛股价上周(11月24日和 11月25日)分别大涨18%和11%，禾赛科技24日重磅发布基于RISC-V架构的激光雷达专用高性能智能主 控芯片费米C500，同时发布全球唯一"光子隔离"安全技术，和256线安全激光雷达ATX焕新版。目 前，"光子隔离技术"已全系搭载至禾赛ATX、ETX等主激光雷达，具备超越行业的安全性与可靠性，做 到了物理层面的极致"零误报"。 禾赛激光雷达专用高性能智能主控芯片费米C500，补齐了禾赛第四代芯片平台全栈自研的最后一块拼 图。费米C500采用自主可控的RISC-V架构，保障供应链安全与技术迭代自主性。其单芯片集成MCU、 FPGA、ADC于一体，是全球首款片上融合功能安全与网络安全双重认证的激光雷达专用主控芯片，从 硬件层满足车载场景对可靠性与信息安全的严苛要求。同时，也是全球首款内置点云智慧引擎IPE的激 光雷达专用主控芯片，集成256-core波形处理核，环境噪点智能滤除，适应复杂天气条件，为自动驾驶 提供全天候高精度感知。 另外，中金预计，随着城市导航辅助驾驶(NOA)功能普及等，禾赛20 ...