Core Viewpoint - Shenzhen Youjia Innovation Technology Co., Ltd. has completed a placement of new H shares, raising approximately HKD 158 million, with a net price of about HKD 22.81 per share [2][3]. Fundraising Details - The company issued a total of 6,800,000 new H shares, resulting in a gross fundraising amount of HKD 158 million and a net amount of HKD 155 million after deducting listing expenses [2]. - Approximately 40% of the net proceeds (around HKD 62.05 million) will be used to enhance the performance of the company's intelligent driving solutions and meet the growing demand for mid-to-high-level assisted driving projects [3]. - About 30% of the net proceeds (around HKD 46.53 million) will be allocated for technological upgrades of L4 autonomous driving solutions to support the commercialization of passenger and cargo autonomous driving scenarios [3]. - Approximately 20% of the net proceeds (around HKD 31.02 million) will be used to explore potential strategic partnerships, alliances, and acquisition opportunities [3]. - The remaining 10% of the net proceeds (around HKD 15.51 million) will be allocated for working capital and general corporate purposes [3]. Shareholder Structure - The largest shareholder group holds approximately 13.60% of the total issued shares, while the concert party group holds about 10.96% [3]. - The total number of issued shares after the placement is 399,946,400, with H shares accounting for 77.60% of the total [3]. Initial Public Offering (IPO) Background - Youjia Innovation was listed on the Hong Kong Stock Exchange in December 2024, with an IPO price of HKD 17 and a net fundraising amount of HKD 606 million [4]. - Key cornerstone investors in the IPO included Kang Cheng Heng International Investment Co., Ltd. and Horizon Together Holding Ltd., which collectively subscribed for HKD 540 million [4][5].

Market News - US stock indices closed higher, with the Dow Jones up 0.49%, Nasdaq up 0.94%, and S&P 500 up 0.61%. Major tech stocks also rose, with Nvidia increasing by 1.8%, reaching a market cap of over $4 trillion at one point. Other tech giants like Meta, Amazon, Google, Microsoft, and Netflix rose over 1% [1] - Chinese stocks mostly declined, with the Nasdaq Golden Dragon China Index down 1.11%. Alibaba, Bilibili, and JD.com fell over 3%, while Netease and Baidu dropped over 2% and 1%, respectively [1] - Bitcoin reached a historic high of $112,000, currently trading at $111,181, with a year-to-date increase of approximately 19% [1] - International precious metal futures showed mixed results, with COMEX gold futures up 0.17% at $3,322.50 per ounce, while COMEX silver futures fell 0.39% to $36.61 per ounce. International oil prices slightly declined, with WTI crude down 0.06% at $68.29 per barrel and Brent crude down 0.03% at $70.13 per barrel [1] - European stock indices all closed higher, with Germany's DAX up 1.42%, France's CAC40 up 1.44%, and the UK's FTSE 100 up 0.15% [1] Industry Insights - The 2025 Global Cross-Border E-Commerce Trade Expo will be held in Hangzhou from July 10 to 12, aiming to enhance collaboration among manufacturing enterprises, cross-border platforms, and service providers. Huatai Securities noted that valuation drivers include economic stimulus policies leading to consumption recovery and a more balanced distribution of profits among platforms [2] - The e-commerce industry is transitioning to a phase of stock competition, with a shift from low-price strategies to improving the business environment, focusing on lower-tier markets. The core focus is on whether new technologies like AI can enhance monetization efficiency and cost optimization [2] - BYD announced it has achieved L4-level smart parking capabilities and will cover all safety and loss liabilities for users of its Tian Shen Yan vehicles in smart parking scenarios. The number of Tian Shen Yan vehicles has exceeded 1 million, with a projected market growth of 35 billion by 2025 [3] - The autonomous driving market is expected to grow significantly, with China's market size projected to increase from 87.5 billion to 482 billion from 2020 to 2024, reflecting a compound annual growth rate of 53.6%. By 2025, the global autonomous driving market is expected to reach $160 billion, with China accounting for over 40% [3] - A new 3D printing technology developed by researchers at the University of Texas at Austin allows seamless integration of soft and hard materials, opening new possibilities for next-generation prosthetics and flexible medical devices. The 3D printing market in China is expected to exceed 63 billion by 2024, growing 30 times over the past decade [4][5]

Core Viewpoint - The company, Youjia Innovation, has successfully completed the placement of 6.8 million new H-shares, raising a net amount of HKD 155 million to enhance its investment in advanced driver assistance systems and L4 autonomous driving solutions [1][2]. Group 1: Fund Allocation - Approximately 40% of the net proceeds will be used to enhance the functionality of smart driving solutions to meet the growing demand for advanced driver assistance projects [2]. - About 30% will be allocated for technical upgrades of L4 autonomous driving solutions to support the commercialization of passenger and cargo autonomous driving scenarios [2]. - Around 20% will be invested in exploring potential strategic partnerships, alliances, and acquisition opportunities [2]. - Approximately 10% of the net proceeds will be used for working capital and general corporate purposes [2]. Group 2: Business Development - Youjia Innovation has gained recognition and support from major clients, having achieved mass production for 35 automotive manufacturers, including SAIC Motor, Changan Automobile, and Chery [3]. - The company has successfully entered international supply chains, exporting vehicles to regions such as the EU, Australia, Singapore, Malaysia, India, South Korea, Dubai, and Turkey [3]. - The latest advanced driver assistance controller, iPilot4plus, supports various functions and is set to be mass-produced for high-end models priced around 300,000 RMB [2][3].

企业的目标是智能驾驶技术的研发与商业化落地，但以智能化为核心的新能源汽车"下半场"不 应仅是发展技术，更需要全行业以客观公正的视角去谨慎定义、理性看待。 7月8日，中汽中心、清华大学、华为联合发布《汽车智能驾驶技术及产业发展白皮书》（下 称《 智驾技术 白皮书》）。" 《智驾技术白皮书》 系统梳理了技术演进脉络、产业生态格局 与未来发展趋势，尤其注重对安全保障体系、风险挑战的剖析，既是对行业经验的系统性凝 练，更是以精准角度剖析发展瓶颈，以创新思维擘画破局路径。 希望 《智驾技术白皮书》 能成为'政产学研'各界人士的参考，助力中国自动驾驶产业在技术 攻坚、安全保障、商业落地与社会价值创造中实现新的突破。"中国工程院院士、清华大学车 辆与运载学院教授李骏在《 智驾技术 白皮书》序言中表示。 华为作为《 智驾技术 白皮书》产学研编写组成员中唯一的产业代表，在其中扮演角色的重要 性不言而喻。开源证券研报称，汽车产业已进入技术转换周期，软件在汽车产业的价值不断加 大，华为凭强劲实力深度布局汽车市场，志在打造汽车产业智能化开放平台。"华为ADS智 能 辅助 驾 驶 功能升级，技术生态成型深度赋能，加速行业格局演化。" ...

Core Viewpoint - The joint release of the "Automotive Intelligent Driving Technology and Industry Development White Paper" by the China Automotive Technology Research Center, Tsinghua University, and Huawei outlines the future development landscape of the intelligent driving industry, emphasizing a comprehensive understanding of intelligent driving beyond just assisted or fully autonomous driving functions [1] Group 1: Industry Overview - The white paper provides a macro perspective on the intelligent driving industry, detailing concepts, technological evolution paths, and industrialization implementation plans [1] - It covers diverse application scenarios and the construction of a comprehensive safety system, indicating a holistic approach to the industry's development [1] Group 2: Standards and Definitions - The document encompasses the full range of driving automation functions defined by the GB/T40429-2021 standard, specifically addressing levels L0 to L5 [1] - "Intelligent driving" is clarified as a common term that does not solely refer to assisted driving or fully autonomous driving capabilities [1]

Core Insights - The article highlights the emergence of Lanyi (Wuhan) Intelligent Data Service Co., Ltd., a company specializing in data annotation and collection services for the intelligent driving industry, which has been recognized in the "2025 Wuhan Artificial Intelligence Enterprise Recognition List" [1][2] - Founded by a graduate from Wuhan University of Technology, the company has rapidly grown in just five years, with a workforce predominantly composed of younger employees, including over 50% being post-2000s generation [1] - Lanyi has developed an AI-driven system that automates 70% of the pre-annotation work, resulting in a 40% reduction in costs and a threefold increase in efficiency [1] Company Overview - Lanyi provides data annotation services that involve tagging various types of data such as text, images, videos, point clouds, and audio, which can then be utilized by AI or machine learning systems [1] - The company has collaborated with major domestic automakers, including Geely, Li Auto, and NIO, to enhance their autonomous driving systems by supplying them with annotated data [2] Technological Advancements - The company utilizes an AI algorithm embedded in a 4D annotation tool, transforming the annotation process into a "full perspective" approach, allowing for a more coherent understanding of driving scenarios [2] - The data is packaged into "spatiotemporal short films" containing 300-500 frames, enabling the AI systems to make decisions without interruptions, thereby improving the overall driving experience for consumers [2]

关于控股子公司与关联方共同投资 暨关联交易的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 证券代码：603633 证券简称：徕木股份 公告编号：2025-027 上海徕木电子股份有限公司 ? 本次交易已经公司第六届董事会独立董事专门会议 2025 年第一次会议、 第六届董事会第十二次会议、第六届监事会第九次会议审议通过。本次交易无需 提交公司股东大会审议。 （一） 湖南徕木科技有限公司 统一社会信用代码：91430105MAD2249X1H 成立时间：2023 年 11 月 1 日 注册资本：5,000 万元 注册地址：长沙市开福区秀峰街道开福大道湘荷社区 888 号 法定代表人：朱新爱 主要股东：徕木股份直接及间接持有其 100%股份 （二） 朱新爱 单位：上海徕木电子股份有限公司 职位：董事长兼总经理 ? 本次交易各方尚未签署正式投资协议，且后续需履行相关监管部门审批程 序，具体商议情况及最终落地尚存在不确定性。此外，本次投资标的公司所处高 阶辅助驾驶领域属新兴产业，技术迭代快、产业化周期长，易受宏观经济波动、 下 ...

在AI叙事降温和关税扰动的双重影响下，港股核心科技板块（如互联网科技和智能驾驶）进入盘整阶段，而新消费、生物 医药等板块则接棒，引领新一轮市场行情。经过近一个季度的调整，港股科技板块的估值压力已充分释放，而风险情绪的 改善与流动性的充裕，则为板块下一阶段的上涨行情奠定了坚实基础。现在，市场仅待一个有力的主题叙事作为催化剂， 或许就能点燃港股科技板块的新一轮热潮。估值低位的恒生科技，是否已蓄势待发？ 恒生科技指数再度回到历史低估区间 港股核心科技板块在经过近一个季度的调整后，估值已处于相对低位，未来上涨空间可期。 （数据来源：Wind，2020-07-27至2025-07-02） 截至7月2日，恒生科技指数ETF（513180）标的指数的最新估值（PETTM）仅20.04倍，处于指数2020年7月27日发布以来 约8.51%的估值分位点，即当前估值低于指数发布以来91%以上的时间。 从客观数据来看，恒生科技指数的估值又再度回来了历史低估区间，一旦后续有重磅事件作为催化剂，指数高成长、高弹 性的特质或将带来强劲的上涨动力。 此外，从拥挤度来看，恒生科技指数当前拥挤度相较于3月来说已明显回落，下降幅度较大，降至30 ...

Core Viewpoint - The article introduces a new job coaching service focused on helping individuals transition into the intelligent driving sector, particularly targeting recent graduates and professionals without specific job experience in this field [2]. Summary by Sections Coaching Scope - Basic services include personalized 1-on-1 coaching sessions, analysis of the learner's profile, and the creation of a detailed learning plan to bridge the gap between current skills and job requirements [5][6]. - The service also offers resume optimization and job referral opportunities based on the learner's situation [6]. Pricing Structure - The coaching service is priced at 8000 per person, which includes a minimum of 10 online meetings, each lasting at least one hour [4]. Advanced Services - Additional services include project practice opportunities that can be added to resumes and simulated interviews that encompass both HR and business interviews, available for an extra fee [5][6]. Instructor Background - Instructors are industry experts with over 8 years of experience in intelligent driving, having worked with leading companies in the sector [7][9].

Core Viewpoint - Zhejiang Meida's investment in Magic Vision Technology marks its entry into the smart driving sector, reflecting a strategic move to overcome growth bottlenecks faced by traditional manufacturing companies [1][2]. Investment Details - Zhejiang Meida plans to invest 110 million yuan to acquire a 4.8657% stake in Magic Vision Technology, which specializes in smart driving technology [2]. - The investment includes 10.03 million USD in newly registered capital and the purchase of 22791 USD in existing capital [2]. Company Background - Zhejiang Meida is primarily focused on integrated kitchen appliances, including a range of cooking and water purification products, and was the first company in the integrated stove industry to be listed on the Shenzhen Stock Exchange [2]. - Magic Vision Technology is an innovative company dedicated to the research and production of autonomous driving and advanced driver-assistance systems [2]. Market Context - The smart driving industry is experiencing rapid growth, with increasing penetration rates in both passenger and commercial vehicles [2]. - The investment is seen as a way for Zhejiang Meida to capitalize on the growth opportunities in the smart driving sector and enhance shareholder returns [2]. Financial Performance - Magic Vision Technology's post-investment valuation is estimated at 2.261 billion yuan, despite projected revenues of 375 million yuan and a net loss of 148 million yuan for 2024 [3]. - The company has not yet reached breakeven and requires significant ongoing investment in research and development [3]. Industry Trends - The trend of cross-industry integration is prevalent in the home appliance sector, with companies like Gujia Home and Daya Shengxiang diversifying into new business areas [6][8]. - The home furnishing industry is increasingly moving towards a "big home" model, integrating home appliances, furniture, and home decoration [9]. Risks and Opportunities - The cross-industry approach presents both risks and opportunities, as companies must align new ventures with their core strategies to avoid resource wastage and market disorder [1][9]. - The rapid technological advancements in the smart driving sector pose challenges, including competition and the need for continuous innovation [3].