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港股异动丨黑芝麻智能拉升涨超9%,将发布机器人产品线
Ge Long Hui· 2025-10-09 02:48
黑芝麻智能(2533.HK)盘中拉升涨超9%,报21.38港元。消息面上,公司首席市场营销官杨宇欣出席第七 届世界新能源汽车大会时表示,跨域融合将迎来市场爆发点,预期在接下来三至五年时间内L3自动驾 驶技术将进入成熟期,整个产业链分工将变得更加有序,而具备成熟量产经验、技术可持续迭代且获得 客户认可的厂商将突围而出。杨宇欣指出,为应对汽车智能化带来的机遇,黑芝麻智能已打造华山与武 当两大晶片系列,形成覆盖不同算力需求的产品矩阵,并实现从技术突破到量产落地,未来将以高算 力、高能效的车规级AI晶片为核心,推动智能汽车与机器人产业的进程。他透露,黑芝麻智能将发布 机器人产品线,期望把在汽车行业积累的技术、成功经验以及生态带到新市场。 ...
中银国际:维持地平线机器人-W“买入”评级 海外拓展客户初见成效
Zhi Tong Cai Jing· 2025-09-17 06:35
该行表示,2025H1地平线机器人汽车产品解决方案业务营收7.78亿元,YoY+250%;毛利率45.6%, YoY+3.9pcts。2025H1公司车载级征程系列处理硬件出货量达198万套,同比实现翻倍增长;其中支持高 速公路辅助驾驶功能的处理硬件出货量达98万套,占总出货量49.5%,是去年同期的六倍。新一代征程 6系列产品出货量的增长也带动平均售价上升。根据地平线机器人2025年中期业绩公告数据,公司在中 国基础辅助驾驶和整体辅助驾驶解决方案的市场份额均位列第一,分别达到45.8%和32.4%。截至2025 年中,公司已累计获得400款新车型定点,其中具备高速公路辅助驾驶及以上功能的订单车型超过100 款。公司的高阶智驾解决方案HSD已获得多家整车企业定点,覆盖十余款车型,并计划于2025年下半年 量产。 报告指,公司和全球合作伙伴紧密合作,依托基于征程6B处理器硬件打造新一代基础辅助驾驶解决方 案Horizon Mono,并已获得两家日本车企在中国以外市场的车型定点。公司预计该合作将带来全生命周 期超过750万套的出货量。此外,海外汽车商于中国的合资车企正在升级其现有车型的辅助驾驶功能。 包括大众汽车 ...
地平线机器人-W(09660.HK):营收同比高增长 定点数创新高
Ge Long Hui· 2025-09-03 07:26
Core Insights - The company reported a total revenue of 1.567 billion yuan for the first half of 2025, representing a year-on-year increase of 67.6%, but incurred an adjusted net loss of 1.33 billion yuan compared to a loss of 804 million yuan in the same period last year [1] Revenue Breakdown - Revenue from products and solutions reached 778 million yuan, a year-on-year increase of 350%, while software and licensing services generated 738 million yuan, up 6.9% [1] - The delivery volume of products and solutions approached 2 million units, marking a year-on-year growth of approximately 100%, driven by the mass production of the Zhengcheng 6 series [1] - Mid-to-high-end product shipments totaled 980,000 units, accounting for 49.5% of total shipments, with a year-on-year increase of six times [1] - Mid-to-high-end products contributed over 80% of the revenue from products and solutions [1] - The average selling price of automotive products and solutions reached 1.7 times that of the same period last year [1] Innovation and International Expansion - The company has achieved a record number of designated models, with nearly 400 models cumulatively, including over 100 mid-to-high-end products equipped with highway-assisted driving and above [1] - The HSD has secured designations for over 10 models from multiple OEMs, with plans for mass production in the second half of 2025 [1] - The company has made breakthroughs in internationalization, obtaining designations for 30 domestic models from 9 joint venture automakers and designations for overseas models from 2 foreign automakers, with expected total deliveries exceeding 7.5 million units [1]
这五个全国第一股,都来自武汉
Chang Jiang Ri Bao· 2025-07-31 12:39
Group 1 - Five companies from Wuhan have become the first in their respective sectors to go public in 2024 [2] - The first company, Dameng Data, listed on the Shanghai Stock Exchange's Sci-Tech Innovation Board on June 12, 2024, and is a leading provider of database products and services in China [4] - The second company, Xingjing Weiwang Group, listed on NASDAQ on July 26, 2024, and operates in the digital entertainment sector, including esports and gaming [6][7] Group 2 - The third company, Shengtong Technology, established in 2005, focuses on AI solutions for urban management, automotive, and finance sectors, and is headquartered in Wuhan as of 2024 [10] - The fourth company, Hezhima Intelligent, specializes in automotive-grade smart chips and solutions, with its valuation increasing from under $1 billion to over $2 billion in three years [15] - The listing of these companies highlights Wuhan's growing prominence in various high-tech industries [2][4][10][15]
湖北做大科创潜力股 政策活水灌溉上市后备企业
Zheng Quan Shi Bao Wang· 2025-06-30 16:22
Group 1 - The core viewpoint emphasizes the integration of technological innovation, industrial upgrading, and capital empowerment to promote the cultivation of companies for listing in Hubei [1] - Hubei has a significant number of high-tech enterprises and specialized small and medium-sized enterprises, with a total of 1,355 "gold and silver seed" companies reserved for potential listing [1] - The province has established a comprehensive cultivation system for companies, including a full-chain service mechanism for value discovery, standardized cultivation, financing connection, and listing support [1] Group 2 - Hubei's new implementation plan aims to create a "data + industry" mechanism for precise selection and dynamic management of companies for listing, with differentiated admission standards for technology-driven and specialized enterprises [2] - The province will provide a combination of "step-by-step cultivation + customized guidance" services tailored to the different stages of development, industry characteristics, and financing needs of enterprises [2] - The Hubei Provincial Enterprise Listing Development Promotion Association has made significant achievements in organizing training, research visits, and investment roadshows to enhance the quality of listed companies and promote healthy capital market development [2]
武汉首提建设全国科技金融中心:3000亿耐心资本引领,多项创新举措首试首发
2 1 Shi Ji Jing Ji Bao Dao· 2025-06-19 09:33
Core Viewpoint - Wuhan is accelerating the construction of a technology finance system that aligns with technological innovation, aiming to establish itself as a national technology finance center by 2027 through a comprehensive action plan [1][2]. Group 1: Action Plan Overview - The action plan outlines five major actions: nurturing patient capital, improving technology credit quality, building a multi-level capital market, risk compensation sharing, and optimizing the technology finance ecosystem [2]. - By 2027, Wuhan plans to establish over 50 specialized technology finance institutions and achieve a scale of over 300 billion yuan in equity investment funds and over 500 billion yuan in loans to technology enterprises [2]. Group 2: Government Investment Fund Role - The action plan emphasizes the role of government investment funds in guiding technology finance, with a focus on nurturing patient capital [3][4]. - Wuhan has integrated two government industry funds, which have collectively participated in the establishment of 111 funds and invested over 20.4 billion yuan, attracting over 83.4 billion yuan in social capital [4]. Group 3: Technology Credit Expansion - The action plan aims to enhance the technology credit service system by encouraging banks to establish specialized technology finance institutions and improve credit access for technology enterprises [7][8]. - As of June 11, 2023, Wuhan has issued 36.563 billion yuan in knowledge value credit loans to 4,287 technology enterprises, with plans to further innovate credit products [9]. Group 4: Multi-Level Capital Market Development - Wuhan is committed to developing a multi-level capital market, supporting the listing of technology enterprises through a structured nurturing approach [10][11]. - The city has seen significant progress in nurturing companies for capital market competition, with eight new domestic and foreign listed companies in 2024 [11]. Group 5: Mergers, Acquisitions, and Bond Financing - The action plan supports mergers and acquisitions for technology enterprises, allowing up to 80% loan coverage for controlling acquisitions [12]. - Since the introduction of the bond market "technology board" policy, Wuhan has successfully issued 172 billion yuan in technology innovation bonds, with 12 enterprises participating [13].
心智观察所|黑芝麻智能杨宇欣:辅助驾驶底层AI技术仍需解决
Guan Cha Zhe Wang· 2025-06-13 09:54
Core Insights - The article discusses the evolving landscape of China's automotive market, highlighting the shift towards cost reduction and technological upgrades, particularly in the realm of advanced driver assistance systems (ADAS) [1][3] - Black Sesame Intelligence is positioned as a key player in promoting the democratization of intelligent driving technology, aiming to make high-level ADAS accessible to more affordable vehicle models [4][5] Industry Trends - The automotive industry is experiencing a transformation where high-level ADAS is moving towards lower-priced models, with a focus on cost-effective solutions amid a competitive pricing environment [3][4] - The transition from distributed electronic architectures to domain control and central computing platforms is a significant trend, enabling enhanced performance and scalability for future vehicle upgrades [5][6] Company Strategy - Black Sesame Intelligence emphasizes two main strategies: aligning with the evolution of automotive electronic architectures and ensuring their chip designs are future-proof and compatible [4][5] - The company aims to build an open and collaborative ecosystem for ADAS, working with partners across the supply chain to lower development barriers and accelerate technology deployment [4][5] Product Development - The Huashan A1000 chip is noted as the first domestically produced high-performance chip platform with full automotive certification, successfully integrated into several popular vehicle models [6][9] - The Huashan A2000 family of chips is designed for specific scenarios, offering superior performance and energy efficiency compared to general-purpose GPUs, thus enhancing the capabilities of ADAS [9][11] Technological Innovations - Black Sesame's chips incorporate programmability and a new NPU architecture called "Jiushao," which enhances performance and adaptability to new algorithms, supporting the evolving needs of intelligent driving [9][11] - The Wudang C1200 family focuses on multi-domain integration, enabling seamless interaction between various vehicle systems, thereby improving user experience and data exchange capabilities [11]
智联汽车系列深度之40:智驾芯片新范式:DSA+驾舱融合+RISC-V
申万宏源· 2025-03-10 03:39
Investment Rating - The report suggests to pay attention to the industry and its developments [4] Core Insights - The high-level intelligent driving technology is becoming more accessible by 2025, with an upward trend in the industry chain's prosperity driven by mature supply-side technologies and demand-side strategies [3][9] - The new paradigm of computing power in vehicles includes DSA heterogeneous integration, cockpit fusion, and RISC-V architecture, which enhances algorithm optimization and cost efficiency [3][10][17] - Domestic alternatives are emerging with quality supply, and there is potential for technology to go abroad, especially in the mid-to-high-end NOA segment [3][24][26] - The trend of integrated hardware and software is leading to competitive intersections among various players, with traditional manufacturers and new forces both investing in self-research and collaboration [3][27] - The economic analysis of self-research in intelligent driving indicates an annual cost of approximately 2 billion RMB, with significant investments in SoC and algorithms [3][28] Summary by Sections 1. New Paradigm of Computing Power - The supply side is seeing advancements in intelligent driving hardware and software, with improved cost-performance ratios [3][9] - The demand side is influenced by traditional manufacturers promoting lower price points for intelligent driving features [3][9] - The architecture is evolving towards a more integrated approach, moving from multi-box systems to single-chip solutions [3][14] 2. Domestic Alternatives and Technology Export - The domestic market is seeing a growing presence of local suppliers in the mid-to-high-end NOA segment, with companies like Horizon Robotics and Black Sesame emerging as key players [3][26] - The low-end segment remains dominated by foreign companies, but domestic technologies are expected to expand internationally [3][26] 3. Competitive Landscape and Self-Research - Leading companies are enhancing their capabilities by integrating computing power, toolchains, and algorithms [3][28] - The competition is intensifying as companies like Huawei and Tesla are investing heavily in self-research and development of their own chips and algorithms [3][27] - The report highlights the importance of a comprehensive approach to self-research, with significant financial commitments required to maintain competitiveness [3][28] 4. Company Analysis - Companies like NVIDIA and Huawei are leading in hardware performance and ecosystem development, while also seeking to strengthen their algorithm capabilities [3][32][39] - Horizon Robotics is positioned as a leader in providing integrated intelligent driving solutions, with a focus on software and service revenue [3][51]