Core Insights - The article highlights the emergence of Chinese chip company Hezhima Intelligent at the IAA Mobility event in Munich, showcasing its capabilities in smart driving technology and positioning itself as a foundational computing platform for intelligent driving [2][3] Regulatory Context - The European Union's General Safety Regulation II (GSR2) mandates that all new vehicle models registered after July 2024 must include a suite of Advanced Driver Assistance Systems (ADAS) features, such as Automatic Emergency Braking (AEB) and Lane Keeping Assistance (ELKS) [2] - Compliance with UNECE R155 and R156 regulations on cybersecurity and software updates is transitioning to full coverage by 2024, creating significant pressure on automotive manufacturers to meet these standards [2] Market Opportunity - Hezhima Intelligent's introduction of the "Safety Intelligent Base" and its Wudang C1200 family of chips aims to alleviate compliance pressures and address cost concerns for European automakers facing challenges from electrification and tariffs [3] - The company has already achieved mass production of its Huashan A1000 family chips in various models, providing a proven track record that enhances its credibility in the European market [3][4] Competitive Landscape - The presence of Chinese chip companies like Hezhima in Europe is not necessarily viewed as a threat; rather, it may accelerate the maturity of the industry by pushing automakers to reassess their cost structures and compliance capabilities in light of stringent regulations [5] - Hezhima's cross-domain integration platform and production experience could position it as a potential secondary or primary supplier for European automakers if it successfully reduces costs and improves development efficiency [6] Challenges Ahead - The rigorous certification and auditing processes in the European market will require Hezhima to provide verifiable evidence of its performance, transitioning from laboratory validation to real-world testing [6] - The success of Hezhima in Europe will depend not only on the computational power of its chips but also on its ability to meet local regulatory requirements and pass through the necessary compliance checks [6]

从底层芯片技术到行业生态协同的全方位展示。 在车展首日， 黑芝麻智能创始人兼 CEO单记章在 发布会 开场演讲中回顾了公司成立八年发展历 程：凭借自研 ISP、NPU两大核心IP，构建了华山系列（辅助驾驶芯片）与武当系列（跨域融合芯 片）两大产品线，并成功登陆港交所成为"智能汽车AI芯片第一股"。过去几年，公司通过A1000 （本土首款车规级高算力芯片）、C1236（全球首款跨域融合芯片）等产品持续突破，2025年推出 的A2000系列更以全景通识高算力设计，率先支持大模型端侧推理，推动AI计算效率再升级。 面向未来，黑芝麻智能将以 "技术创新+开放生态"双轮驱动，聚焦芯片研发，赋能汽车智能化转型。 单记章指出，大模型进入端侧推理时代，计算效率与算法架构成为关键挑战。黑芝麻智能通过优化带 宽性能、探索混合模型架构，致力于突破"算法决定上限"的行业瓶颈。同时，公司立足汽车领域， 向机器人、边缘计算等场景延伸，以全栈技术能力开启智能时代的"计算革命"。 本文为IPO早知道原创 作者｜ Stone Jin 微信公众号｜ipozaozhidao 据 IPO早知道消息，黑芝麻智能（2533. HK ）携 旗下明星产品华 ...

从底层芯片技术到行业生态协同的全方位展示。 本文为IPO早知道原创 作者｜ Stone Jin 微信公众号｜ipozaozhidao 据 IPO早知道消息，黑芝麻智能（2533. HK ）携 旗下明星产品华山系列、武当系列芯片及其应用展 示，生态合作案例、合作产品及解决方案 等亮相 2025年上海国际车展。 值得注意的是，不久前的 3月31日 ，黑芝麻智能发布了 2024年业绩报告，这也是其成为"智能汽车 AI芯片第一股"后发布的首份年报 —— 财报显示， 2024年黑芝麻智能的营收同比增长至51.8%至 4.74亿元，毛利从2023年的0.77亿元大幅增长152.4%至1.95亿元，毛利率亦从2023年的24.7% 增加超16个百分点至41.1%。 截至目前，黑芝麻智能就旗下 A1000系列芯片和武当C1200系列跨域融合芯片已与超40家车企达成 合作。 财报发出后，多家知名券商纷纷给予黑芝麻智能 "推荐"/"增持"/"优于大市"等评级，以示对黑芝麻 智能长期价值的看好。 某种程度上而言，本次车展有助于黑芝麻智能再一次展现 从底层芯片技术到行业生态协同 的全方位 能力。 在车展首日， 黑芝麻智能创始人兼 C ...

Core Insights - Black Sesame Intelligence (2533.HK) launched the "Safety Intelligent Base" solution at the 2025 Shanghai International Auto Show, focusing on safety in intelligent driving, utilizing the Wudang C1200 family of cross-domain integration chips to achieve ASIL-D safety standards [2] - The company announced a strategic partnership with Intel to jointly develop the "Cabin-Driving Integration Platform," which will integrate Intel's smart cockpit technology with Black Sesame's advanced driving algorithms, with a reference design expected in Q2 2025 [2] - Black Sesame's Wudang C1296 chip-based cabin-driving integration solution has entered mass production in collaboration with Dongfeng Motor and Junlian Zhixing, aiming for mass production by the end of 2025 [5] Industry Position - Black Sesame ranks third in the market share for traditional independent brand passenger car NOA integrated control computing solutions in China, with a 12.15% market share attributed to the A10000 chip's shipment volume [5] - The Wudang series chips and the Huashan series (including A1000/A2000 families) form a "dual-core drive" technology matrix that covers L2+ to L3+ intelligent driving needs [5] - The company aims to enhance its "technology innovation + open ecosystem" strategy, focusing on optimizing bandwidth performance and extending its technological capabilities from the automotive sector to robotics and edge computing [5]