从电池来看，小米YU7全系采用800V碳化硅高压平台，Max版本还支持5.2C的最大充电倍率，从10%电 量充到80%电量最快12分钟，最快15分钟充电即可行驶620km。从智驾能力来看，小米YU7全系标配 1000万Clips版本小米端到端辅助驾驶，纵向舒适性提升57%，绕行成功率提升67%，路口通过率提升 23%。 东吴证券表示，小米汽车业务是小米集团的互联网思维方式的一个环节，也正是小米过去10多年积累大 量用户基础上的重要品类外延。小米的铁人三项【硬件+互联网+新零售】围绕用户形成了有效的闭 环，成功本质还是【小米方法论】核心竞争力所体验，一定程度上在这2-3年是"降维打击"了传统汽车 行业。 据小米汽车微博介绍，小米YU7大定突破20万，受此影响，小米ADR隔夜一度涨超10%。 华阳集团：为YU7打造天际屏全景显示，配套PHUD（全景抬头显示器）产品。 雷军表示。"续航是电动车最重要的性能，也是最贵的配置，因为它的成本很高。"从续航能力来看，小 米YU7标准版续航里程为835km，成为"中大型纯电SUV续航第一"，四驱车型续航里程为770km。 公司方面，据上市公司互动平台表示， *免责声明：文章内 ...

智能座舱领域，即将迎来一个IPO。 这是一家兄弟俩创办的HUD（Head-Up Display，抬头显示器）企业，名字叫江苏泽景汽车电子股份有限公司（以下简称"泽景电子"），近期向港交所正 式递交上市IPO申请。 按照招股书，22家主流车企是泽景电子的客户，有90个车型定点。里面，包括蔚来、理想、小米汽车、比亚迪、奇瑞、吉利、一汽、广汽、北汽、长 安……而泽景电子在目前展国内车载HUD市场约占16.2%的份额，国内解决方案供应商中排名第二，第一名是华阳集团。 排名的背景，当然是近年HUD的渗透率一直在提升。根据高工智能的数据，2024年中国乘用车前装标配HUD上险车交付量达356万辆，同比增长55+%， 渗透率也从2023年的11%提升至16%。 作为智能汽车加速落地的辅助，HUD这项最早用于军用战斗机的技术，正在走向智能座舱标配的路上。这是泽景电子虽然连续亏损却能够有IPO底气的深 层原因。 下一站，AR-HUD 作为一家HUD解决方案供应商，泽景电子的产品主要为W-HUD解决方案CyberLens、AR-HUD解决方案CyberVisio。此外，还包括一些解决方案等非核心 产品。 其招股书介绍，通过其全栈 ...

Core Viewpoint - Jiangsu Zejing Automotive Electronics Co., Ltd. (hereinafter referred to as Zejing Electronics) is pursuing an IPO in Hong Kong, facing challenges such as continuous price declines in its main product, HUD solutions, while managing to improve its gross margin during the same period [1][3]. Group 1: Financial Performance - From 2022 to 2024, the sales revenue from HUD solutions is the primary income source for Zejing Electronics, with gross margins increasing from 22.6% in 2022 to 27.3% in 2024 [3][4]. - The average price of HUD solutions decreased from 974.31 RMB per unit in 2022 to 865.47 RMB in 2024, despite an increase in sales volume [6][7]. - The company achieved a significant increase in HUD solution sales volume, growing from approximately 175,700 units in 2022 to 624,600 units in 2024, representing a growth of 2.55 times [6][7]. Group 2: Cost Management - Despite the decline in average selling prices, Zejing Electronics managed to improve its gross margin through effective cost control and economies of scale, with raw material costs increasing at a slower rate than sales volume [7][8]. - In 2024, the company's labor costs decreased by 12.82% year-on-year, amounting to 25.33 million RMB, while sales volume of HUD solutions increased by 16.84% [8][9]. Group 3: Market Position and Challenges - As of 2024, Zejing Electronics holds a market share of 16.2% in the Chinese HUD solutions market, ranking second among suppliers [9]. - The company's revenue growth rate significantly slowed from 156.6% in 2023 to 5.1% in 2024, attributed to a more cautious approach in securing long-term contracts and adjustments in client production plans [9][10]. - The top five customers contributed a substantial portion of Zejing Electronics' revenue, accounting for 93.0% in 2022, 93.8% in 2023, and 80.9% in 2024, with a decline in sales revenue from these customers in 2024 [9][10]. Group 4: Financial Health - Zejing Electronics has not achieved profitability during the reporting period, with a debt-to-asset ratio of 215.6% and a current ratio of only 41.2% as of the end of 2024 [13][14]. - The company's trade receivables reached 296 million RMB by the end of 2024, with an increase in the average collection period from 102.2 days in 2022 to 140.5 days in 2024 [13][15].