在二级市场的复杂博弈中，影响股价走势的因素既包括上市公司的基本面、未来的成长预期，也包括了短期的事件性影响或情绪波动。毋庸讳言，有时事件 扰动会引发市场噪音，甚至造成股价波动，但以长远眼光看市场的真正价值锚点始终深植于企业基本面与未来增长前景。因此，某一次"利空"所砸出来的股 价低点反而可能是"黄金坑"，此时正是战略性建仓的宝贵机会。 智通财经注意到，2025年12月29日，港股上市满一周年的佑驾创新（02431）迎来限售股解禁。在此之前，这家在智能驾驶领域取得了丰富实质性成果的高 成长性公司，其股价却因解禁预期而出现了非常规的波动。笔者认为，有鉴于佑驾创新是稀缺智驾潜力股，且公司多项业务恰值战略突破期，近期佑驾创新 的股价波动显然脱离了理性范畴。 不仅如此，消息面上佑驾创新重要股东四维图新（002405.SZ）向外界表示，作为佑驾创新的深度合作伙伴兼重要股东，看好其长期投资价值及发展潜力， 不急于减持股票。对此，四维图新高级副总裁、董事会秘书兼CMO孟庆昕称，"我们充分信赖佑驾创新扎实的基本面、以及持续增长的潜力。未来也将继续 与佑驾创新在前沿技术研发与全球市场拓展上深度合作，一同实现智驾赛道的长期价值。" ...

据第三方专业机构报告，佑驾创新在检讨期内的平均市值、流通性等核心指标均符合港股通审核标 准，"退通"为无稽之谈。更为关键的是，佑驾创新近期接连释放L2与L4两大业务板块的利好消息，可 见公司业务基本面不仅无虞，更在"智能出行+智慧物流"深度融合的背景下，进入双向反哺、持续进化 的良性发展阶段。 "L2+L4"双轮驱动，规模化与商业化持续兑现 当前，智驾行业逐渐白热化，佑驾创新作为国内渐进式"智驾老兵"代表，凭借全栈自研技术与规模化量 产经验，不仅稳坐牌桌，更实现业绩持续攀升。 在行业迈向价值深水区的关键阶段，实质性成果与商业化进展成为衡量企业实力的核心标尺。近日， 2025年地平线生态大会上，佑驾创新(02431)作为唯一同时展出"L2+L4"最新落地成果的生态伙伴， 以"中高阶域控全家桶"与小竹无人车T5的技术突破与落地应用，彰显公司业务持续向好、发展势能全面 上扬，亦是对近期"退出港股通"不实传闻最直接有力的回应。 根据财报，佑驾创新近年来收入连续增长，年复合增长率超过50%，印证其在前装量产市场具有持续的 客户拓展与价值兑现能力。 截至2025年6月30日，公司已累计为42家整车厂进行量产，客户覆盖上汽 ...

Core Insights - The 2025 World Internet Conference commenced with the theme of "Building an Open, Cooperative, and Secure Digital Future," showcasing cutting-edge technology and innovations in the industry [1] - Youjia Innovation (佑驾创新) presented its L4 autonomous minibus and Xiaozhu unmanned vehicle T5, marking a significant milestone in the company's L4 business scaling [1][3] - The L4 autonomous minibus served as the official designated vehicle for the conference, demonstrating its reliability and practicality in complex urban environments [1][3] Technology and Capabilities - The L4 autonomous minibus is equipped with a self-developed L4 autonomous driving system, featuring 360° panoramic perception, a high-performance computing platform, and a multi-layered safety redundancy system [3] - The system can autonomously navigate complex traffic situations, such as pedestrians crossing and vehicles merging, providing a smooth driving experience akin to an experienced driver [3] - The vehicle integrates with the Tongxiang vehicle-road-cloud unified control platform, enhancing its perception capabilities through advanced traffic information [3] Business Developments - The company recently won a bid for the "Tongxiang Vehicle-Road-Cloud Integrated Traffic Perception Project," with a contract value of 11.85 million yuan [5] - Post-conference, the autonomous minibus will transition into the daily smart bus operation system in Tongxiang, facilitating connections between key locations [5] - The unmanned minibus has been deployed in various cities, including Suzhou, Heilongjiang, Shanghai, and Hangzhou, showcasing its operational capabilities in challenging environments [5] Logistics and Partnerships - The Xiaozhu unmanned vehicle T5 has been operational in urban logistics and short-distance delivery scenarios, indicating progress towards mass delivery [5] - Strategic partnerships have been established with leading companies such as China Post Shenzhen Branch and Shenzhen Eastern Bus, along with a recent order for 100 unmanned vehicles from Zhixin Yuntu [5] - The company aims to increase R&D investment and deepen collaboration with industry partners to expand its presence in urban public transport, scenic area connections, smart logistics, and airport commuting [5]

Core Viewpoint - The 2025 World Internet Conference has commenced, showcasing advanced technology and marking a significant milestone for the company in scaling its L4 autonomous driving operations [1] Group 1: Product Launch and Technology - The company showcased its L4 autonomous minibus and the Xiaozhu unmanned vehicle T5 at the conference, emphasizing their role in providing automated shuttle services [1] - The L4 autonomous minibus is equipped with a self-developed L4 autonomous driving system, featuring 360° perception, high-performance computing, and a multi-layered safety redundancy system [3] - The system can autonomously navigate complex traffic situations, enhancing driving smoothness and adaptability [3] Group 2: Project Wins and Operational Expansion - The company recently won a bid for the "Tongxiang Vehicle-Road Cloud Integrated Traffic Perception Project," with a contract value of 11.85 million yuan [5] - Post-conference, the autonomous minibus will integrate into the daily smart bus operations in Tongxiang, facilitating connections between key locations [5] - The company has successfully deployed its autonomous minibus in various cities, including Suzhou and Shanghai, and has expanded operations to challenging environments like airports [5] Group 3: Strategic Partnerships and Future Outlook - The Xiaozhu unmanned vehicle has begun operations in urban logistics, marking a new phase of mass delivery [5] - The company has formed strategic partnerships with leading industry players, including China Post and Shenzhen Eastern Bus, and secured an order for 100 unmanned vehicles [5] - Looking ahead, the company plans to increase R&D investment and collaborate with industry partners to expand into various transportation scenarios [5]

Core Insights - Youjia Innovation (02431.HK) has entered into a partnership with Hunan Xiangjiang Intelligent Technology Innovation Center's subsidiary, Zhixin Yuntu, to enhance the application of unmanned logistics vehicle technology and scale commercial scenarios [1][2] - The agreement includes the delivery of 100 unmanned logistics vehicles and supporting software systems by the end of 2026, covering various logistics scenarios with models such as the Xiaozhu unmanned vehicle T5 and T8 [1][2] - This collaboration aligns with the strategic development of the Hunan Xiangjiang New Area, which is focused on building an integrated vehicle-road-cloud ecosystem [2] Company Developments - The order of 100 vehicles marks a significant step in Youjia Innovation's L4 autonomous driving business towards commercial scalability, validating its "base" strategy of leveraging core cities and local resources [2] - Youjia Innovation has previously established deep cooperation with Hunan Xiangjiang New Area in areas such as V2X technology application and unmanned minibus operations, successfully launching unmanned minibus routes [1][2] - The Xiaozhu unmanned vehicle has already formed strategic partnerships with major industry players like China Post Shenzhen Branch and Shenzhen Eastern Bus, completing initial deliveries in the express delivery sector [2] Future Outlook - Youjia Innovation aims to continue deepening its core autonomous driving technology and expand the coverage and penetration of unmanned logistics scenarios [2] - The company plans to collaborate with more partners to create a new blueprint for intelligent, efficient, and green urban transportation and traffic [2]

Core Insights - Youjia Innovation (佑驾创新) has officially partnered with Hunan Xiangjiang Intelligent Technology Innovation Center's subsidiary, Zhixin Yuntu Technology, to enhance the application of unmanned logistics vehicle technology and scale commercial scenarios [1][2] - The agreement includes the delivery of 100 unmanned logistics vehicles and supporting software systems by the end of 2026, covering various models to meet diverse logistics needs [1][2] - This collaboration is built on a foundation of trust and previous cooperation, including successful projects in V2X technology and autonomous minibus operations [1] Company Developments - The partnership will leverage local resources and policy support in Hunan to ensure the large-scale operation and scene adaptation of the Xiaozhu unmanned vehicles [1][2] - The order of 100 vehicles marks a significant step in Youjia Innovation's L4 autonomous driving business and validates its strategy of using core cities as leverage points for local resource integration [2] - Hunan Xiangjiang New Area is focused on building a "vehicle-road-cloud integration" pilot zone, aligning with the strategic goals of the partnership [2] Future Outlook - The collaboration aims to accelerate the value chain from technology research and development to product innovation and scene implementation [2] - Youjia Innovation plans to continue deepening its core technologies in unmanned driving and expand the coverage and penetration of unmanned logistics scenarios [2] - The company seeks to partner with more stakeholders to create a new blueprint for intelligent, efficient, and green urban transportation [2]

Core Viewpoint - The collaboration between Youjia Innovation and Zhixin Yuntu aims to deepen the application of unmanned logistics vehicle technology and scale commercial scenarios, contributing to the development of a new intelligent logistics ecosystem [3]. Group 1: Partnership Details - Youjia Innovation will deliver 100 unmanned logistics vehicles and supporting software systems to Zhixin Yuntu by the end of 2026, covering various logistics scenarios with products like the Xiaozhu unmanned vehicles T5 and T8 [4]. - Zhixin Yuntu will leverage its local resources, industry integration capabilities, and policy support in Hunan to ensure the large-scale operation and scenario adaptation of Xiaozhu unmanned vehicles [4]. Group 2: Previous Collaborations - The partnership is built on a foundation of trust and prior collaborations, including deep cooperation with Hunan Xiangjiang New Area in V2X technology and unmanned bus operations, which have successfully launched unmanned bus routes [5]. - Youjia Innovation received recognition for its achievements in autonomous driving, winning an award for its typical application scenario of "integrated vehicle-road-cloud autonomous driving bus" [5]. Group 3: Market Impact - The order of 100 vehicles signifies a critical step in the commercialization of Youjia Innovation's L4 autonomous driving business, validating its strategy of leveraging core cities to deepen local resources and gradually expand to surrounding areas [6][7]. - The Xiaozhu unmanned vehicles have already established strategic partnerships with industry leaders like China Post and Eastern Bus, completing initial deliveries in the express delivery sector [6]. Group 4: Specific Projects - Youjia Innovation's Xiaozhu unmanned vehicles are set to operate in Shenzhen's Huaqiangbei, a major logistics hub, addressing the challenges of high logistics demand and limited road space [10]. - The project, guided by the AI Industry Office of Futian District, involves a trial operation of unmanned logistics vehicles in key logistics areas, providing intelligent collection and delivery services [11]. Group 5: Broader Implications - The entry of Xiaozhu unmanned vehicles into Huaqiangbei signifies the practical application of autonomous driving technology, indicating a shift of "smart transportation" from experimental zones to everyday life [13].

Core Insights - Youjia Innovation has secured an order for 100 unmanned logistics vehicles from Hunan Xiangjiang Intelligent Technology Innovation Center's subsidiary, Zhixin Yuntu, aiming to deepen the application of unmanned logistics vehicle technology and scale commercial deployment [1][3] - The partnership will leverage local resources and policy support in Hunan to ensure the successful operation and adaptation of the Xiaozhu unmanned vehicles [1][3] - This collaboration aligns with the regional strategy of building an integrated vehicle-road-cloud ecosystem in Hunan Xiangjiang New Area, enhancing the value chain from technology development to product innovation and scene implementation [3] Company Developments - The order includes the delivery of Xiaozhu unmanned vehicles T5, T8, and new iterative products by the end of 2026, catering to diverse logistics scenarios [1] - Prior collaborations with Hunan Xiangjiang New Area in V2X technology and unmanned bus operations have established a strong foundation for this partnership [1][2] - Youjia Innovation has previously formed strategic partnerships with industry leaders such as China Post Shenzhen and Shenzhen Eastern Bus, marking significant progress in the express delivery sector [3] Future Outlook - The company plans to continue focusing on core technologies in unmanned driving, expanding the coverage and penetration of unmanned logistics scenarios [3] - There is an emphasis on collaborating with more partners to create a smart, efficient, and green urban transportation and traffic blueprint [3]

Core Viewpoint - The article discusses the emergence of autonomous logistics vehicles, particularly focusing on Youjia Innovation's entry into this market with its "Xiaozhu" brand, aiming to address the "last mile" delivery challenge. The company plans to deliver 400-500 units by the end of the year and potentially reach 10,000 units next year, highlighting the significant market potential estimated at approximately 468 billion yuan [3][5]. Company Overview - Youjia Innovation has launched its autonomous logistics vehicles, including the Xiaozhu unmanned logistics vehicles T5 and T8, targeting the last mile delivery segment [3]. - The company has a strong market presence in the domestic commercial vehicle sector, providing intelligent driving solutions to major automotive manufacturers like BYD [3][5]. Market Potential - The market for unmanned delivery vehicles is projected to be around 468 billion yuan, based on the number of logistics network points across the country [3]. - Several competitors, including WeRide, Desay SV, and Momenta, are also entering the unmanned logistics vehicle space, indicating a growing interest in this sector [3]. Business Model - Youjia Innovation's revenue model includes three main approaches: a sales model with financial leasing options for small B-end companies, a leasing model for large B-end companies, and customized solutions for specific scenarios [4][5]. - The company aims to leverage its existing capabilities in intelligent driving systems and supply chain management to offer cost-effective products that appeal to large integrated logistics companies [5]. Future Outlook - Youjia Innovation anticipates achieving profitability by 2027, but the introduction of unmanned logistics vehicles could accelerate this timeline if sales increase significantly [5]. - The company is focusing on technological innovation and cost reduction as key factors for success in the unmanned logistics vehicle market [6]. Strategic Partnerships - Youjia Innovation is exploring new operational models by collaborating with local companies to manage resources and road rights effectively, which could help reduce operational costs and enhance scalability [6].

Core Insights - The company Youjia Innovation has entered the unmanned logistics vehicle market, launching its brand "Xiaozhu Unmanned Vehicle" and models T5 and T8, aimed at addressing the "last mile" transportation challenge [1] - The market potential for unmanned delivery vehicles is estimated at approximately 468 billion yuan, with several competitors, including WeRide, Desay SV, and Momenta, also targeting this sector [1] - Youjia Innovation plans to deliver 400-500 unmanned logistics vehicles by the end of this year, with a target of reaching 10,000 deliveries next year [1] Company Strategy - Youjia Innovation's business model includes three revenue streams: sales with financing options for small B-end companies, leasing for large B-end companies, and customized solutions for large B-end companies [2] - The company aims to leverage its existing capabilities in intelligent driving systems and supply chain management to offer cost-effective products that appeal to large integrated logistics companies [2] - The company anticipates achieving profitability by 2027, but the introduction of unmanned logistics vehicles may accelerate this timeline if sales increase [2] Industry Trends - The growth of unmanned logistics vehicles is supported by technological advancements and favorable policies, with the National Postal Administration promoting the large-scale application of drones and unmanned vehicles [2] - Cost reduction through technological innovation and economies of scale is crucial for the industry, with Youjia Innovation focusing on shared materials between its unmanned and commercial vehicle lines to lower costs [3] - The company is exploring partnerships with local firms to optimize resource utilization and reduce operational costs, exemplified by a strategic collaboration with Shenzhen Postal and Eastern Bus for resource management [3]