2025.09. 30 本文字数：1467，阅读时长大约3分钟 作者 | 第一 财经 黄琳 资产运营；三是为B端大公司提供场景定制化解决方案。 顺丰、京东等大型物流运输公司也有自主研发无人物流车，但因为无人物流业务需求量巨大，大型物 流运输公司也需要第三方的合作伙伴和供应商为其提供相关的服务。刘国清表示，佑驾创新希望借助 自身的优势，比如前装交付的大量智驾系统积累的一些能力、软算法能力、硬供应链体系等，产出更 具性价比的产品，让这类大的集成公司愿意买单。 按照佑驾创新传统业务的规划，公司预计在2027年实现盈利。但在无人物流等小车加入业务体系 后，若能实现销量的提升，公司或能提早盈利时间。 从行业看来，近年来，无人物流车在技术和政策的支持下，规模愈发壮大。国家邮政局明确提出加快 推动无人机、无人车、智能云仓行业规模化应用。商务部等8部门联合印发《加快数智供应链发展专 项行动计划》，明确提出推广无人配送车等智能设备。 当2025年成为智能驾驶元年，无人物流车、无人小巴等多元化自动驾驶产物也陆续扩大规模。近 日，智能驾驶解决方案供应商佑驾创新也进入了无人物流车这一领域，推出无人物流品牌"小竹无人 车"和小竹无人车 ...

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]

Group 1 - The core viewpoint is that Youjia Innovation (02431) has made significant breakthroughs in its L4 autonomous vehicle business by launching two unmanned logistics vehicle products, T5 and T8, expanding its operations from passenger transport to cargo scenarios [1][2] - The newly launched unmanned logistics brand "Xiaozhu Unmanned Vehicle" includes T5 and T8, which feature 100% automotive-grade core components and a multi-sensor fusion approach, enabling 360° blind-spot-free vision and precise road condition recognition [2] - T5 has a cargo space of 5.5m, a maximum load of 1000kg, and a range of 180km, while T8 offers a volume of 8.5m, a maximum load of 1700kg, and a range of 240km, catering to various logistics needs [2] Group 2 - The company plans to deliver 10,000 unmanned logistics vehicles by 2026, utilizing direct sales, leasing, and customized solutions to meet diverse customer demands in key cities such as Shenzhen, Chengdu, Xi'an, and Jiangyin [3] - A new national standard for intelligent connected vehicles was proposed, which clarifies technical requirements and testing specifications for L2 systems, potentially benefiting Youjia Innovation by increasing order opportunities as a smart driving solution provider [4]

Core Viewpoint - Youjia Innovation has made significant advancements in its L4 autonomous vehicle business by launching two unmanned logistics vehicle products, T5 and T8, expanding its operations from passenger transport to cargo transport [1][2]. Group 1: Product Launch - Youjia Innovation has officially launched its unmanned logistics brand "Xiaozhu Unmanned Vehicle" along with two products, T5 and T8, marking its entry into the unmanned logistics sector [1]. - The T5 vehicle features a cargo space of 5.5m³, a maximum load of 1000kg, and a range of 180km, targeting segments such as express delivery, retail, and fresh food distribution [1]. - The T8 vehicle offers a volume of 8.5m³, a maximum load of 1700kg, and a range of 240km, suitable for urban distribution and industrial logistics, including specialized applications in mining and ports [1]. Group 2: Delivery Expectations - The Xiaozhu unmanned vehicles will be offered through direct sales, leasing, and customized solutions to meet diverse customer needs [2]. - It is anticipated that 10,000 units of unmanned logistics vehicles will be delivered in 2026, with large-scale operations planned in key cities such as Shenzhen, Chengdu, Xi'an, and Jiangyin [2]. Group 3: Regulatory Environment - The Ministry of Industry and Information Technology has released a draft for mandatory national standards on intelligent connected vehicles, which will clarify technical requirements and testing specifications for L2 systems [3]. - This new standard aims to curb industry chaos, delineate the boundaries between assisted driving and autonomous driving, and encourage companies to increase R&D investment, thereby enhancing industry safety standards [3]. - As a provider of intelligent driving solutions, Youjia Innovation is expected to receive more orders due to the positive impact of these regulations [3].