Core Insights - Huawei's CEO of Intelligent Automotive Solutions BU, Jin Yuzhi, announced the official release of the new generation of the combined driving assistance system, ADS 4, which features comprehensive upgrades in architecture, safety, and user experience [1] - As of now, 22 cooperative vehicle models have been launched, covering mid-to-high-end models priced above 150,000 yuan, including pure electric, range-extended, hybrid, and fuel types [1] Summary by Categories - **Product Development** - The ADS 4 system has been officially launched with significant improvements in architecture, safety, and user experience [1] - **Market Presence** - A total of 22 vehicle models utilizing Huawei's technology have been introduced to the market [1] - These models are positioned in the mid-to-high-end segment, with prices starting from 150,000 yuan [1] - **Vehicle Types** - The launched models include various types such as pure electric, range-extended, hybrid, and traditional fuel vehicles [1]

本报讯 （记者张文湘 见习记者占健宇）4月21日，普华永道联合上海现代服务业联合会共同发布《2025上海智能汽车发展 白皮书》。白皮书显示，上海目前已经搭建起"4+N"汽车工业服务集群的产业格局，即"4个智能制造集群"和"N个工业服务集 群"，涵盖生产制造、研发创新、区域辐射、国际交流、文化生活和产业投资等领域。 普华永道中国汽车行业主管合伙人金军表示，在科技呈指数级发展的当下，汽车产业始终是上海经济发展的支柱产业。依 托上海"4+N"汽车产业格局，上海汽车产业形成了以产业集群化发展为根基、以人才聚集和科技创新为驱动、以区域辐射和全 球多元化发展为助推、以文化传承和资本赋能为支撑的产业发展特征，在高质量高水平建设"世界汽车之都"的同时，进一步推 动了行业的变革与发展。 上海现代服务业联合会汽车产业金融服务专委会秘书长沈颐辰指出，当下，智能驾驶与智慧交通正推动出行方式发生变 革，汽车产业不再局限于单纯制造，而是朝着更广阔领域迈进。作为跨行业、跨领域的综合性枢纽型组织，上海现代服务业联 合会将继续构筑平台、汇聚资源，在产业生态建设中持续发挥关键作用，助力上海智能汽车产业迈向"全球汽车之都"。 （编辑 张昕） 其中 ...

据华为数字能源微信公众号消息，华为数字能源将于4月22日召开2025华为智能电动&智能充电网络战 略与新品发布会。据了解，在发布会上， 华为将发布兆瓦超充产品 。 图片来源：华为数字能源微信公众号 多家车企高管参加 广汽集团董事长冯兴亚在微博表示，去年北京车展，广汽与华为共同启动"传祺华为联合创新计划"。他 将和大家分享广汽与华为乾崑合作的阶段性成果。 图片来源：微博 除了广汽，上汽集团总裁贾健旭、东风猛士科技总经理曹东杰、江汽集团股份公司总经理李明、深蓝汽 车CEO邓承浩、岚图汽车CEO卢放、阿维塔科技总裁陈卓以及北汽集团等将应邀出席技术大会。 据了解，华为乾崑智能汽车解决方案业务已经进入高速增长期，2024年，智能部件发货量超过2300万 件，同比增长近7倍。 在2024年年报中，华为表示，华为智能汽车解决方案业务正携手600多家产业链伙伴，共同为车企交付 高质量、高品质的汽车部件产品。截至2024年底，已经有15款合作车型上市，车型覆盖增程、纯电和混 动所有畅销的动力类型，以及轿车、SUV、MPV、硬派越野多种品类，成为新能源市场中高端车型的 标杆。 将加速重卡迈向电动化时代 此外，华为乾崑智能技术大会 ...

AI在汽车领域的应用，主要还是自动驾驶方面。 2017年5月李想： AI可发挥的地方，有两点： 第一，视觉。汽车想要实现自动驾驶，需要替代人类的眼睛。所以，替代视觉的雷达感知对整个AI 是很关键的。 第二，向人学习如何把车开得更好。工业时代的时候，我们希望把人规范化，当作机器来使用。但是 互联网时代的最大好处，是把人当成人来用，每个人尽可能发挥到极致。而到未来真正最广泛AI时 代，我们会希望把机器当成人来用。 汽车未来百分之百是会自动驾驶的，根本跑不掉。只不过这个周期有多长是不确定的，有可能是十五 年，有可能是二十年。但最终所有的车一定是自动驾驶的。 70后、80后可能觉得自动驾驶后，车就会失去驾驶乐趣。 而对于90后来说，自他拥有驾照开始，对这个世界的感知就是：开车就是在堵车。北京周一堵到周 五，周末更堵。高速路上到处都是摄像头，也不能拉高速。车对于他们来说，没有任何乐趣，车就是 基本的转运工具。 另一方面，车又是一个绝对空间。 我能想象2025年的车，一定和今天长得不一样。那时候没有三厢车，没有SUV，到了2025年，都是一 厢车，就是一个方盒子。也许会做出一些流线型，但一定会按照客厅打造，要让你呆在里面 ...

Group 1 - The event "Hongmeng Smart Travel | Smart Brand Night" in Shanghai showcased the integration of technology and art, highlighting the launch of the new versions of the Zhijie R7 and Zhijie S7 Ultra, targeting young consumers and families [1][10] - Liu Yifei, as the brand ambassador, emphasized the alignment of her artistic values with the pioneering spirit of the Zhijie brand, promoting a message of breaking boundaries through talent [2][4] - The Zhijie R7 features advanced intelligent driving assistance systems, enhancing safety and driving experience, appealing to the needs of young users for both urban commuting and long-distance travel [7][9] Group 2 - The Zhijie R7 Max CLTC has a pure electric range of 360 km and a combined range of 1673 km, with a low fuel consumption of 5.68 L per 100 km, significantly reducing travel costs [12] - The Zhijie S7 Ultra sports version includes high-performance features such as Brembo brakes and a 0-100 km/h acceleration time of just 3.3 seconds, catering to the desires of young consumers for individuality and performance [12][15] - The brand has achieved over 130,000 pre-orders, indicating strong market recognition and the successful capture of dual consumer demands for technological efficiency and emotional value in design [9][15] Group 3 - The launch of the new models is part of Zhijie's strategy to reshape the competitive landscape of smart vehicles, combining technological innovation with emotional connections to users [16] - The brand's focus on minimalist design and reliable safety aligns with the lifestyle aspirations of young consumers, positioning Zhijie as a partner in exploring life and new experiences [13][15] - Promotional offers during the initial sales period, such as discounts up to 44,000 yuan, enhance the attractiveness of the products to potential buyers [15]

Group 1 - The core viewpoint of the article highlights the increasing clarity of the allocation logic for Hong Kong stocks among public funds as they disclose their Q1 2025 reports [1][4] - In Q1, the Hong Kong stock market experienced a structural rally driven by the release of consumer dividends and the upgrade of the technology industry [2][3] - Major public funds have significantly increased their holdings in technology leaders such as Tencent Holdings, SMIC, Alibaba, and Xiaomi, as well as new consumption targets like Li Auto and Pop Mart [1][2] Group 2 - The focus of fund holdings is primarily on two directions: technology internet giants and smart vehicles/new consumption [3][4] - Tencent Holdings was the most favored stock among public funds, with 27 products heavily invested, while SMIC and Alibaba were also among the top holdings [2][3] - Fund managers emphasize the strong growth momentum in the technology internet sector as a core logic for increasing allocations, with AI-related investments being a key area of focus [4][6] Group 3 - The article notes that the Hong Kong stock market is still considered a value trap, with many traditional industry leaders being undervalued [6][7] - The potential for recovery in the Hong Kong market is supported by factors such as low valuations, improving domestic economic conditions, and continuous net inflows from Hong Kong Stock Connect [6][7] - Fund managers express optimism about the growth potential of emerging consumption driven by younger consumers and the recognition of new consumption concepts [5][6]

Core Insights - Huawei launched new products at the Hongmeng Intelligent Mobility conference, including the AITO M8 and the AITO S9 range-extended version, along with the official announcement of the Shangjie brand [1][2] - The AITO M8 is positioned as a family smart flagship SUV, featuring advanced technology and multiple configurations [1] - The AITO S9 range-extended version is equipped with various high-tech features and boasts a maximum CLTC comprehensive range of 1355 kilometers [1][2] Group 1: Product Features - The AITO M8 is equipped with the HUAWEI ADS 3.3 system, which includes 30 high-precision sensors and supports full-scene driving assistance [1] - The M8 supports 118 core domain controller OTA upgrades, allowing for synchronized evolution of hardware performance and software ecosystem [1] - The AITO S9 range-extended version features 4 laser radars and the Huawei Snow Owl intelligent range-extended system [1] Group 2: Strategic Partnerships - The Shangjie brand was launched in collaboration with SAIC Group, aiming to create high-quality mobility solutions for households [2] - SAIC Group has committed an initial investment of 6 billion yuan and established a dedicated team of over 5,000 for the Shangjie brand [2] - The partnership between Huawei and SAIC is expected to enhance the competitive edge of their smart vehicle offerings in the global market [2]

Group 1 - Huawei's Executive Director and Head of Terminal BG, Yu Chengdong, announced that the first model under the "Shangjie" smart car brand, developed in collaboration with SAIC Motor Corporation, is expected to be launched in the autumn of this year [1]

Summary of Conference Call Company and Industry Overview - The conference call was held by Youjia Innovation, focusing on the automotive industry, particularly in the context of smart driving solutions and intelligent cockpit technologies [1][2]. Key Points and Arguments Industry Trends - The automotive industry is experiencing a significant shift towards price equality in driving technology, with many domestic car manufacturers like BRD, Geely, and Chery leading this movement [2]. - There is a global trend towards the adoption of smart driving technologies, with increasing versions of smart driving systems being introduced for both new energy vehicles and traditional fuel vehicles [2]. Financial Performance - In 2024, Youjia Innovation reported a revenue of RMB 654 million, a year-on-year increase of 37.4%, with a compound annual growth rate of 55.18% over the past three years [3]. - Gross profit reached approximately RMB 100 million, reflecting a 54% year-on-year increase, with gross margin rising from 14.3% in 2023 to 16% in 2024 [3]. - The adjusted net loss was RMB 167 million, a reduction of about 10% compared to the previous year [4]. Business Segments - The company operates in three main segments: smart driving solutions, intelligent cockpit solutions, and vehicle-road collaboration [4]. - The smart driving segment, which includes the I-Safety series, has seen significant growth, with a focus on enhancing vehicle safety through advanced driver-assistance systems (ADAS) [4][5]. - The intelligent cockpit segment generated approximately RMB 100 million in revenue, a 460% increase year-on-year, accounting for 15.9% of total revenue [9]. - The vehicle-road collaboration segment generated RMB 63 million, accounting for 9.7% of total revenue, with a slight decline compared to the previous year [9]. Product Development and Market Strategy - The company is expanding its product offerings, including the I-Pilot series for mid-to-high-end vehicles and the I-Robot series for L4 autonomous vehicles [6][7]. - There is a strong focus on international expansion, with efforts to assist domestic manufacturers in exporting vehicles to markets such as Europe, Australia, and Southeast Asia [5][13]. - The company aims to enhance its research and development capabilities, particularly in high-end driving technologies, and plans to increase its R&D team by approximately 200 engineers [19][13]. Profitability and Margin Analysis - The gross margin for the smart driving segment was reported at 15.77%, an increase of 2 percentage points from the previous year, driven by improved pricing power and product mix [20]. - The intelligent cockpit segment's gross margin improved to 12%, reflecting a 6 percentage point increase due to scaling and product maturity [20]. - The vehicle-road collaboration segment achieved a gross margin of approximately 26%, also up by 6 percentage points, attributed to stricter project selection criteria [20]. Customer Base and Market Position - The company has established a diverse customer base, including both domestic and international clients, with a significant focus on self-owned brands and joint ventures [23][24]. - Key clients contributing to revenue growth include major manufacturers like SAIC and Geely, with expectations for continued growth from new projects in 2025 [23][24]. Additional Important Insights - The company is actively exploring the integration of driving and cockpit technologies to enhance user experience and safety [11]. - There is a strategic emphasis on developing standardized products for L4 autonomous vehicles, with a focus on profitability and market demand [27][28]. - The company has established partnerships with international firms to enhance its technological capabilities and market reach [30][31]. This summary encapsulates the key points discussed during the conference call, highlighting the company's performance, strategic direction, and market trends within the automotive industry.

据了解，中证智能汽车主题指数选取为智能汽车提供终端感知、平台应用的公司，以及其他受益于智能 汽车的代表性公司作为样本，以反映智能汽车产业公司的整体表现。该指数以2012年06月29日为基日， 以1000.0点为基点。 从指数持仓来看，中证智能汽车主题指数十大权重分别为：芯原股份（5.33%）、欧菲光（5.01%）、 韦尔股份（5.0%）、科大讯飞（4.99%）、拓普集团（4.51%）、立讯精密（4.4%）、长城汽车 （4.32%）、德赛西威（4.15%）、闻泰科技（4.14%）、华域汽车（3.96%）。 金融界4月15日消息，A股三大指数收盘涨跌不一，中证智能汽车主题指数 (CS智汽车，930721)下跌 0.94%，报4661.15点，成交额221.42亿元。 数据统计显示，中证智能汽车主题指数近一个月下跌12.62%，近三个月上涨1.89%，年至今上涨 0.05%。 资料显示，指数样本每季度调整一次，样本调整实施时间分别为每年3月、6月、9月和12月的第二个星 期五的下一交易日。权重因子随样本定期调整而调整，调整时间与指数样本定期调整实施时间相同。在 下一个定期调整日前，权重因子一般固定不变。特殊情况下将 ...