本文源自：金融界AI电报 港股市场智能驾驶概念股走强，其中，浙江世宝涨超11%，图达通涨超8%，小马智行-W涨超6%，文远 知行-W涨超5%，佑驾创新涨超4%，赛力斯涨超3%，地平线机器人-W涨超2%。 ...

Group 1 - The concept stocks related to intelligent driving have seen significant gains, with Zhejiang Shibao rising by 12.13% to HKD 6.47, and other companies like TuDatong and Xiaoma Zhixing also experiencing notable increases [1] - Elon Musk announced at the World Economic Forum that Tesla's Full Self-Driving (FSD) system is expected to be approved in China as early as next month, aligning closely with its approval timeline in Europe [1] - Tesla's representative in China stated that there are no new updates regarding the FSD system's progress in the Chinese market, despite ongoing efforts [1] Group 2 - Musk indicated that Tesla's Robotaxi service is expected to be widely deployed in the U.S. by the end of this year, with initial services already operating in Austin, Texas, without in-car safety supervisors [2] - According to Dongfang Securities, Level 3 autonomous driving is anticipated to commercialize starting in 2026, with further acceleration in the commercialization of Level 4 Robo-X services, presenting growth opportunities for companies involved in intelligent driving and related components [2]

Group 1 - The smart driving concept stocks saw significant gains, with Zhejiang Shibao rising by 12.13% to HKD 6.47, Tuya Technology up by 7.46% to HKD 10.8, Pony.ai increasing by 6.5% to HKD 131.6, and others also showing positive movement [1] - Elon Musk announced at the World Economic Forum that Tesla's Full Self-Driving (FSD) system is expected to be approved in China as early as next month, potentially aligning with its approval timeline in Europe [1] - Tesla's representative in China stated that there are no new updates regarding the FSD system's progress in the Chinese market [1] Group 2 - Musk indicated that Tesla's Robotaxi service is expected to be widely deployed in the U.S. this year, with initial services already operating in Austin, Texas without in-car safety supervisors [2] - According to Dongfang Securities, Level 3 autonomous driving is anticipated to commercialize starting in 2026, with further acceleration in the commercialization of Level 4 Robo-X services such as Robotaxi, Robovan, and Robotruck [2] - The smart driving sector, including related vehicle and component companies, is expected to experience growth opportunities as these technologies advance [2]

Core Insights - The stock of Siwei Tuxin (SZ002405) reached its daily limit with a price of 11.24 yuan, marking a 9.98% increase and a total market capitalization of 26.646 billion yuan [1] Group 1: Company Developments - Siwei Tuxin is undergoing a strategic transformation and governance structure optimization, which includes the cancellation of the supervisory board and the revision of 28 management systems to enhance decision-making efficiency and standardization [2] - The company has made a significant investment in Jianzhihui Robotics, becoming its largest shareholder, to expand into the smart driving sector [2] - From 2024 to date, Siwei Tuxin has secured 6.8 million sets of smart driving solutions, covering over 20 mainstream automakers and more than 100 designated models, which is expected to improve performance in the medium to long term [2] Group 2: Technological Advancements - The company has achieved breakthroughs in technology, obtaining 7 invention patents, and its automotive-grade chip technology has reached ASIL-D safety level [2] - AI applications in the smart driving sector focus on model compression and AI engineering capabilities, which may help the company gain more smart driving orders due to cost advantages [2] - The company plans to globally launch a large-scale delivery of an assisted driving solution based on the Horizon J6B chip, having already received mass production orders from several leading domestic and international automakers [2] Group 3: Market Trends - The smart driving and vehicle networking sectors are currently market hotspots, with related stocks showing active performance and creating a certain level of sector linkage effect [2] - In Q3 2025, the company's revenue grew by 5.2% year-on-year, indicating relative stability in its main business amid industry development trends, which has led to an increased market expectation for its future growth [2] - Technical analysis suggests that there may have been a significant inflow of capital into Siwei Tuxin on January 23, 2026, driving the stock price to its limit, reflecting renewed investor interest in the company's strategic layout and technological breakthroughs [2]

Group 1 - Several autonomous driving concept stocks experienced gains, indicating positive market sentiment towards the sector [1] - Xiaoma Zhixing-W (02026.HK) rose by 5.77%, reaching HKD 130.2 [1] - Wenyan Zhixing-W (00800.HK) increased by 5.71%, trading at HKD 24.08 [1] - Zhejiang Shibao (01057.HK) saw a rise of 5.55%, with a price of HKD 6.09 [1] - Cao Cao Chuxing (02643.HK) climbed by 3.67%, priced at HKD 34.5 [1]

智通财经APP获悉，部分智驾概念股走高，截至发稿，小马智行-W(02026)涨5.77%，报130.2港元；文 远知行-W(00800)涨5.71%，报24.08港元；浙江世宝(01057)涨5.55%，报6.09港元；曹操出行(02643)涨 3.67%，报34.5港元。 东吴证券指，全球Robotaxi商业化拐点将现，看好国内L4公司出海再扬帆。平安证券认为，尽管目前L3 车型的运行条件还存在诸多限制，但L3车型的准入获批意味着智驾在技术、政策端的进步，为后续智 驾的商业化进程奠定基础。2026年智能驾驶的商业闭环有望进一步打通。 消息面上，当地时间1月22日，马斯克罕见现身达沃斯论坛，他在谈话中表示，特斯拉的自动驾驶出租 车服务Robotaxi今年有望在美国大规模部署，"到今年年底，这项服务将在美国范围内非常非常普及"， 已经开始在得州奥斯汀提供没有设置车内安全监督员的Robotaxi服务。 ...

Group 1 - The Hang Seng Tech Index has returned above the 20-day moving average, indicating a short-term bullish trend, with notable stock movements from major companies like Baidu, Alibaba, Bilibili, Kuaishou, SMIC, Hua Hong Semiconductor, and Li Auto [1] - Since October of last year, Hong Kong tech assets have been under pressure due to structural industry differences, negative impacts from delivery subsidies, and year-end liquidity constraints. However, these factors are expected to improve by 2026, driven by AI industry growth, a cycle of overseas interest rate cuts, foreign capital inflows, and the return of southbound funds, suggesting a potential rebound for undervalued Hong Kong tech stocks [1] - Year-to-date, southbound funds have seen a cumulative net inflow of nearly 68 billion HKD into the Hong Kong stock market. Looking ahead to 2026, domestic AI models like DeepSeek are expected to launch around the Chinese New Year, while major domestic companies are increasing capital expenditures to enhance overall model capabilities [1] Group 2 - The National Securities Hong Kong Stock Connect Technology Index includes biotech leaders such as BeiGene, Innovent Biologics, and WuXi Biologics, currently trading at a rolling P/E ratio of only 27 times, which is below the 50th percentile of the past decade, indicating significant mean reversion potential [2]

《中国智能驾驶行业趋势白皮书（2025）》认为，能够穿越 周期的幸存者，并非最早出发的，也非口号最响亮的，而是无 一例外地在技术理想与商业现实间找到了那条狭窄的平衡带， 它们普遍具备五大特征。 封图：图片资料室 曾经，智能驾驶的故事由资本狂热书写，L4的技术梦想吸引无数玩家涌入赛道。但当行业从浪漫 期行至商业化攻坚期，活下去成为所有参与者面对的最大难题。 2025年，累计交付超20万套城区NOA辅助驾驶系统的元戎启行，以一份逼近40%的月度市场份 额成绩单，揭示出行业现阶段真正的生存法则：数据是未来燃料，装车量即话语权。 从高举高打的技术公司，到深度绑定长城、吉利等主流车企的规模化供应商，元戎启行的蜕变之 路，是智能驾驶行业从技术竞赛转向数据竞争、从实验室 Demo 走向规模化交付的一个缩影。 根据《 中国智能驾驶行业趋势白皮书（2025） 》，并以元戎启行为例，外界能够看到当下行业 竞争的本质：如何在技术、数据、商业与生态之间找到平衡，成为穿越周期的最终幸存者。 活下去，需要多少车？ 2019年后，智能驾驶行业的共识逐渐被重塑。资本不再为遥远的L4故事买单，投资人只问两个问 题：你拿到了多少量产订单？你的收 ...

Core Viewpoint - The company, Desay SV, asserts that its intelligent driving business is in a leading position within the industry, offering diverse and flexible driving solutions to meet the varied needs of different automakers regarding levels of assisted driving, vehicle positioning, and cost considerations [1] Group 1: Intelligent Driving Business - The intelligent driving business includes products related to assisted driving domain controllers and sensors [1] - The company emphasizes its capability to cater to a wide range of requirements from different automotive manufacturers [1]

Core Insights - The first end-to-end city NOA solution based on Horizon's Journey 6M chip has been officially delivered, marking a significant milestone in urban mobility [1] - The collaboration between Li Auto, Lightyear, and Horizon showcases a complete closed-loop from technology development to large-scale delivery [7] Group 1: Product and Technology - The city NOA system, built on a single Journey 6M chip, offers advanced defensive driving capabilities, enhancing safety during urban travel [2][5] - The system utilizes 128 TOPS of computing power, optimizing safety and traffic efficiency while supporting various sensor integrations [4] - The Journey 6M chip enables lightweight urban driving assistance and memory driving functions, significantly improving performance and reducing costs [4] Group 2: Industry Collaboration - The partnership between Horizon, Lightyear, and Li Auto exemplifies a strong industry collaboration, achieving multiple industry records since their strategic alliance began in May 2022 [7] - Horizon is also collaborating with Bosch, Denso, and other partners to promote the mass production of the city NOA solution, targeting the 100,000 yuan market segment [8] - The ecosystem collaboration is seen as a key pathway to advancing the widespread adoption of intelligent driving technology [8] Group 3: Market Impact - Li Auto's L series models are equipped with the Journey 6M chip, enhancing their reputation as reliable and user-friendly smart driving vehicles [7] - The successful deployment of the city NOA solution is expected to accelerate the scale of mass production in the intelligent driving sector [8] - Horizon aims to continue building a reliable and inclusive future for intelligent driving through its collaborative ecosystem approach [10]