Core Viewpoint - Li Auto announced the launch event for its AI glasses, Livis, scheduled for December 3 at 19:30 [1] Company Summary - Li Auto is set to unveil its AI glasses, indicating a potential expansion into wearable technology [1]

Core Insights - The intelligent automotive industry in China has entered the AI Driving 2.0 phase, with accelerated technological iteration [1] - The VLA (Vision-Language-Action) technology architecture, represented by companies like Li Auto and Yuanrong Qihang, breaks the limitations of traditional end-to-end models by integrating three modalities to enhance system interactivity and long-term reasoning capabilities [1] - The industry is transitioning from rule-driven to data-driven approaches, although there are still concerns regarding technological pathways, investment returns, and policy implementation risks [1] Industry Developments - Huawei's ADS 4.0 adopts the WEWA architecture, emphasizing cloud simulation and vehicle model collaboration to create a direct cognitive model of the physical world, enabling rapid response and high safety redundancy [1] - Horizon Robotics and Momenta focus on one-stage end-to-end systems combined with reinforcement learning to enhance the human-like experience of intelligent driving systems [1] Investment Opportunities - The Intelligent Automotive ETF (159889) tracks the CS Intelligent Automotive Index (930721), which selects representative listed companies in the intelligent driving and vehicle networking sectors from the A-share market [1] - The index aims to reflect the overall performance of securities related to intelligent automotive companies, showcasing the industry's diversity and broad characteristics [1]

Core Viewpoint - The company Boleton (01333) has launched the world's first truly driverless electric mining truck, the Boleton 9M145E, marking a significant advancement in autonomous mining technology [1] Group 1: Product Launch - On November 21, Boleton held a launch event for the Boleton 9M145E at its Wuhan factory, showcasing the new driverless mining truck [1] - The Boleton 9M145E features a completely driverless design and is ready for production immediately upon rollout, indicating a shift from theoretical capabilities to practical implementation in autonomous driving [1] Group 2: Technological Advancements - The new mining truck is equipped with Boleton's self-developed E2E intelligent driving system, which has been validated through multiple mining site tests [1] - The efficiency of the Boleton 9M145E surpasses that of human-operated trucks, providing greater commercial value for driverless operations [1] Group 3: Operational Efficiency - The E2E intelligent driving system enables safe and stable operation throughout the entire process of loading, transporting, and unloading, achieving efficiency levels comparable to or exceeding human performance [1] - The introduction of the Boleton 9M145E is expected to significantly reduce operational costs for mining companies [1]

此次博雷顿发布的全球首款真正意义的无人驾驶专用矿卡，对上一代产品进行了全面迭代，新车采用无 驾驶室设计，下线即具备投产状态，彻底从源头取消人工驾驶舱，代表无人驾驶进入从"可做"到"真正 投入生产"的新阶段。新一代无人矿卡博雷顿9M145E效率赶超人工，让无人驾驶具备更大的商业实用价 值。该公司自研E2E智驾系统历经多矿区实战验证，可实现装、运、排全流程的安全稳定运行，效率可 与人工持平或更高，运营成本显著下降。 博雷顿(01333)午前张超4%，截至发稿，涨3.73%，报25港元，成交额3427.81万港元。 消息面上，11月21日，博雷顿在武汉工厂举办"无驾驶室纯电动矿卡下线仪式暨新车发布会"。此次发布 会亮相了全球首款真正意义的无人驾驶专用矿卡，博雷顿9M145E，搭载公司自研E2E智驾系统，新车 采用无驾驶室设计，下线即具备投产状态，代表无人驾驶进入从"可做"到"真正投入生产"的新阶段。 ...

Core Viewpoint - The article highlights the emergence of "smart driving gadgets" that undermine vehicle safety by circumventing driver monitoring systems, raising concerns about road safety and regulatory responses [1][5]. Group 1: Product Overview - "Smart driving gadgets" are being sold under various names like "smart driving companion" and "steering wheel decoration," allowing users to bypass safety features [3][4]. - These products include two main types: capacitive straps for brands like AITO and Xiaomi, and weighted rings for brands like BYD and Tesla [3][4]. Group 2: Regulatory Response - A draft national standard titled "Motor Vehicle Operation Safety Technical Conditions" has been proposed, aiming to enhance safety requirements for driver monitoring systems [1][5]. - The effectiveness of this regulation is questioned, as these gadgets continue to be sold online despite the impending regulations [5]. Group 3: Responsibility and Liability - Sellers of "smart driving gadgets" may face civil liability for promoting products that circumvent vehicle safety systems, potentially leading to indirect infringement if accidents occur [8][9]. - E-commerce platforms could also bear joint liability if they fail to monitor and regulate the sale of these illegal products [9]. Group 4: Technical Insights - Current vehicle technology relies on torque sensors and capacitive sensors to detect driver engagement, which these gadgets can deceive [4][11]. - The proliferation of these gadgets is partly due to consumer misconceptions about the capabilities of Level 2 (L2) autonomous driving systems, which are often misrepresented by manufacturers [11][12]. Group 5: Recommendations for Improvement - To combat the issue, a multi-faceted approach is suggested, including the use of AI for monitoring sales, stricter regulations on production, and enhanced consumer education [12].

Core Viewpoint - Huawei's L3 autonomous driving solution is set to commercially launch by 2026, marking a potential revolutionary change in the automotive industry [2][9][69]. Group 1: L3 Autonomous Driving Overview - The L3 level of autonomous driving represents a shift from "assisted driving" to "automated driving," with responsibility for accidents potentially shared between the driver and the vehicle manufacturer [20][21]. - L3 systems will only operate under specific conditions, such as on highways, and the responsibility for accidents will depend on whether the vehicle is in a defined operational area [22][23]. - Huawei has introduced a dual compensation model for L3, partnering with insurance companies to provide coverage for accidents during L3 operation [27][28]. Group 2: Technological Enhancements - Huawei has upgraded its eAES (Enhanced Automatic Emergency Steering) system from version 1.0 to 2.0, improving its ability to handle extreme scenarios and enhance safety [32][48]. - The new eAES 2.0 can now recognize various obstacles, including animals and unusual objects, and can perform evasive maneuvers in critical situations [36][39][42]. - The introduction of a "Driver Disability Assistance" feature allows the vehicle to monitor the driver's state and take action if the driver becomes incapacitated [49][54]. Group 3: Future Prospects and Ecosystem - Huawei is developing an "Intelligent Driving Ecosystem" that includes partnerships with various service providers to enhance the overall driving experience [56][60]. - The envisioned capabilities include autonomous parking, smart charging, and maintenance, which are all based on L3 technology but aim to approach L4 levels of autonomy [63][66]. - The successful implementation of L3 could lead to rapid adoption across the industry, similar to the previous surge in L2 technology [72][74].

Core Insights - The "Human-Vehicle-Home" ecosystem is rapidly emerging, driven by advancements in 5G, AI, and IoT technologies, as well as increasing consumer demand for smart living [1][2] - Midea Group and BYD have signed a strategic cooperation agreement to integrate their strengths in smart vehicles, smart home appliances, and AIoT technologies, aiming to create a leading smart ecosystem [1][2] - Boston Consulting Group predicts that by 2030, the "Human-Vehicle-Home" ecosystem will account for 58% of the incremental smart market, becoming a key driver of future technological development [1] Industry Developments - The "Human-Vehicle-Home" ecosystem aims to seamlessly connect people, vehicles, and home environments, creating a super-intelligent ecosystem centered around user needs [2] - Midea Group and BYD's collaboration will involve integrating all BYD vehicle models with Midea's smart home products, focusing on AI innovation and standardizing technical interfaces and data protocols [2][5] - Other tech giants like Xiaomi and Huawei are also accelerating their involvement in the "Human-Vehicle-Home" ecosystem, with Xiaomi completing its ecosystem with the launch of the Xiaomi SU7 [3] Technological Innovations - Key technologies driving the "Human-Vehicle-Home" ecosystem include Ultra-Wideband (UWB) digital fusion technology and foundational operating system integration, which facilitate deep integration of various scenarios [4] - AI technology is becoming increasingly critical, with Midea developing an AI assistant that acts as a "home autopilot," enhancing user interaction within the ecosystem [6] Business Models and Value - Companies with ecosystem integration capabilities are expected to capture over 50% of the new revenue in the smart mobility and home integration market [7] - The "Human-Vehicle-Home" ecosystem fosters strong user engagement and collaborative effects, transitioning competition from individual products to ecosystem-based competition [7] - Midea's partnership with BYD not only expands product application scenarios but also allows for reaching more users through mobile terminals [7] User Experience - The "Human-Vehicle-Home" ecosystem enhances user convenience and comfort, allowing for dual control of home appliances from vehicles and vice versa, as well as automated scene triggers based on geofencing technology [8] - The development of this ecosystem faces challenges such as the need for unified technical standards, data security, and coordination in cross-industry collaborations [8]

当前，中国汽车产业正处于从"电动化领先"迈向"智能化决胜"的关键转折点。尽管在电池、电控与供应链方面已实现全球引领，但中国车企仍面临智能化 进程中的核心挑战：智能驾驶技术研发投入巨大、周期漫长。如何突破这一瓶颈，实现技术跃升、规模化落地，成为业内共同探索的命题。 在这一背景下，行业普遍将城区辅助驾驶视为高溢价"选装配置"，而地平线HSD(Horizon SuperDrive)城区辅助驾驶系统则通过独特的产业化路径，推动其 从"高端选项"向"规模化标配"转变，正深刻改写中国智能驾驶行业的竞争规则。 地平线HSD搭载了"智驾六代机"征程6P，是当前可获得的辅助驾驶超强计算方案。继全球首搭地平线HSD及征程6P的星途ET5后，全新合作车型风云T9L 与iCAR V27在11月21日开幕的广州车展上正式亮相，两款新车同样搭载地平线HSD城区辅助驾驶系统和征程6P。截至目前，HSD已获得国内外多达10家 车企品牌，超20款车型的定点合作。 然而，一个尖锐的矛盾依然存在：尽管2025年被誉为"智驾平权"年份，但据国家信息中心统计，当前国内30万元以上新能源车高阶智驾配备率已接近 100%，而在国内的乘用车市场构成中占到7 ...

（记者 胡玲） 每经AI快讯，有投资者在投资者互动平台提问：贵公司是小米汽车、小米手机供应商吗？ 京东方Ａ（000725.SZ）11月26日在投资者互动平台表示，小米是公司的客户。 ...

本文源自：财华网 【财华社讯】佑驾创新(02431.HK)公布，于2025年11月26日(交易时段前)，公司与联席配售代理订立配 售协议，公司拟配售最多1401.28万股新H股，占经配发及发行配售股份扩大后的已发行股份数目的约 3.33%。截至本公告日期，公司并无库存股份。配售价每股配售股份14.88港元，较股份于2025年11月25 日(即配售价厘定之日)于联交所所报的收市价每股16.53港元折让约9.98%。配售事项的所得款项净额(经 扣除佣金及估计开支后)预期合共约为2.04亿港元。配售事项所得款项净额将主要用于集团L4无人物流 车的业务发展及基础研发平台的升级。 ...