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，佑驾创新（2431.HK）与易达资本（ewpartners）日前于香港正式签署谅解备 忘 录 。 双 方 将 聚 焦 中 东 地 区 智 能 物 流 与 出 行 升 级 需 求 ， 推 进 佑 驾 创 新 自 主 研 发 的 无 人 物 流 车 （Robovan）在沙特阿拉伯的落地应用。 L4级自动驾驶业务的首次海外拓展。 在沙特2030愿景推动经济多元化、智慧交通与物流体系升级的背景下，中东市场正加速释放对自动 化与智能化解决方案的结构性需求。 基于这一长期趋势，双方计划在中长期内，探索L4级自动驾驶 无人 车在中东地 区的规模化部署路径，并将在2030年前完成多达1000辆无人车的部署任务。此次 合作亦标志着佑驾创新正式进军中东市场，并实现其L4级自动驾驶业务的首次海外拓展。 相关合作将聚焦多元化的物流与出行应用场景，结合区域实际运营需求，探索自动化技术在不同环境 条件下的落地方式，以提升整体运行效率与服务能力。 作为本次合作的核心落地内容，佑驾创新将依托全栈自研的L4级自动驾驶技术，分阶段向沙特 ...

近日，佑驾创新（2431.HK）与易达资本（ewpartners）于香港正式签署谅解备忘录。双方将聚焦中东 地区智能物流与出行升级需求，推进佑驾创新自主研发的无人物流车（Robovan）在沙特阿拉伯的落地 应用。 易达资本是一家专注于推动亚洲与中东之间跨境投资的国际领先投资机构，也是首家在沙特与中国之间 搭建跨境投资平台的机构。在沙特2030愿景推动经济多元化、智慧交通与物流体系升级的背景下，中东 市场正加速释放对自动化与智能化解决方案的结构性需求。基于这一长期趋势，双方计划在中长期内， 探索L4级自动驾驶无人车在中东地区的规模化部署路径，并将在2030年前完成多达1000辆无人车的部 署任务。此次合作亦标志着佑驾创新正式进军中东市场，并实现其L4级自动驾驶业务的首次海外拓 展。 相关合作将聚焦多元化的物流与出行应用场景，结合区域实际运营需求，探索自动化技术在不同环境条 件下的落地方式，以提升整体运行效率与服务能力。 "与佑驾创新的合作，为中东物流行业引入了全球领先的智能驾驶技术与成熟商业化解决方案，是区域 物流智能化升级进程中的重要突破。"易达资本合伙人邵民桦表示。 "与易达资本的合作助力我们成功切入中东市 ...

"与易达资本的合作助力我们成功切入中东市场，是我们国际化扩张进程中的重要里程碑，使我们得以 在全球最具活力的物流市场之一部署L4级自动驾驶解决方案。"佑驾创新创始人兼董事长刘国清博士表 示。 近日，佑驾创新(2431.HK)与易达资本(ewpartners)于香港正式签署谅解备忘录。双方将聚焦中东地区智 能物流与出行升级需求，推进佑驾创新自主研发的无人物流车(Robovan)在沙特阿拉伯的落地应用。 值得关注的是，在此次合作之前，佑驾创新的智能驾驶及智能座舱产品已经搭载多款出口车型销往海 外，包括欧盟、澳大利亚、墨西哥、新加坡、韩国、迪拜、土耳其等多个地区，完成出海1.0阶段的全 球化布局，并积累了欧盟GSR法规、E-NCAP认证等国际合规经验，为全球化合规运营筑牢坚实基础。 在沙特2030愿景推动经济多元化、智慧交通与物流体系升级的背景下，中东市场正加速释放对自动化与 智能化解决方案的结构性需求。基于这一长期趋势，双方计划在中长期内，探索L4级自动驾驶无人车 在中东地区的规模化部署路径，并将在2030年前完成多达1000辆无人车的部署任务。此次合作亦标志着 佑驾创新正式进军中东市场，并实现其L4级自动驾驶业 ...

Core Viewpoint - The report from Zheshang Securities highlights the promising prospects of unmanned vehicles (Robo-X) across various applications, particularly in closed and specialized scenarios such as warehousing, mining, and military use, driven by technological advancements and supportive policies [1][3]. Group 1: Unmanned Vehicle Applications - Unmanned vehicles (Robo-X) have significant potential in multiple scenarios, including passenger transport (Robotaxi), material handling (unmanned forklifts), sanitation (Robosweeper), mining (unmanned mining trucks), military (unmanned combat platforms), and agriculture (unmanned tractors) [2][3]. - The commercial viability of unmanned logistics vehicles (Robovan) is paving the way for broader applications of unmanned vehicles in various sectors [2]. Group 2: Industry Outlook - The essence of unmanned vehicles (Robo-X) lies in the application of autonomous driving technology in specific scenarios, with advancements in algorithms, LiDAR, and domain control chips facilitating faster commercialization [3]. - Three key conditions for the rapid deployment of unmanned vehicles are identified: successful technology implementation, policy support, and sound commercial logic [3]. Group 3: Unmanned Forklift Market Potential - The global market for automated warehousing solutions is projected to exceed 2 trillion RMB, with unmanned forklifts playing a crucial role in enhancing warehouse efficiency and reducing costs [4]. - Traditional warehousing faces challenges such as low space utilization (with rental and operational costs accounting for 8%-12% of total costs) and inefficient labor practices, which unmanned forklifts can address by creating intelligent warehousing systems [4]. - The global market for automated warehousing solutions is expected to grow from approximately 471.1 billion RMB in 2024 to 804 billion RMB by 2029, with a compound annual growth rate (CAGR) of 12% from 2020 to 2024 and 11.3% from 2024 to 2029 [4]. Group 4: AMR Solutions Growth - The global market for Autonomous Mobile Robot (AMR) solutions is anticipated to reach approximately 38.7 billion RMB in 2024, with a CAGR of 30.6% from 2020 to 2024, and is projected to grow to 162.1 billion RMB by 2029, with a CAGR of 33.1% from 2024 to 2029 [5]. - The penetration rate of AMR solutions in the overall automated warehousing sector is expected to increase from 4.4% in 2020 to 20.2% by 2029 [5]. Group 5: Investment Recommendations - Recommended companies include Hangcha Group (leading domestic forklift manufacturer), Zhongli Group (global electric forklift leader), Anhui Heli (state-owned forklift leader), SANY Heavy Industry (leading Chinese construction machinery company), XCMG (emerging global construction machinery leader), Shantui (bulldozer manufacturer), Taotao Vehicle (North American leisure vehicle leader), YTO Group (large tractor leader), Beifang Group (Chinese mining vehicle leader), and Inner Mongolia First Machinery Group (military equipment leader) [6]. - Companies to watch include Zhongyou Technology and Noli Shares [7].

Core Viewpoint - The establishment of a mandatory national standard for intelligent connected vehicles' combined driving assistance systems aims to clarify safety requirements and enhance product safety performance in the rapidly developing intelligent driving industry [1][3]. Group 1: National Standard Development - The Ministry of Industry and Information Technology proposed the national standard project for "Safety Requirements of Intelligent Connected Vehicles' Combined Driving Assistance Systems," with a project duration of 22 months [1]. - The standard will apply to M and N category vehicles equipped with combined driving assistance systems, covering general technical requirements such as motion control capability, driver state monitoring, system detection capabilities, and safety requirements [1][3]. Group 2: Industry Concerns and Safety Risks - There is a widespread belief that L3 level is a critical transition from assistance to automation in the autonomous driving industry, while most current intelligent driving features are at L2 level [2]. - Some industry insiders express concerns that marketing strategies by car manufacturers may mislead users into over-relying on L2 systems, equating them with full automation, which poses safety risks [2][5]. Group 3: Regulatory Impact and Industry Response - The new regulations are intended to ensure that technology is implemented safely, rather than restricting technological advancement [5]. - Major cities like Beijing and Shanghai are accelerating the establishment of high-level autonomous driving demonstration zones, with several automakers pushing for L3 level technology deployment [5]. Group 4: Commercialization and Market Trends - Robotaxi services are seen as a promising commercial application, with significant growth in order volumes, indicating accelerated commercialization in the sector [5]. - Companies like Tesla are planning to launch Robotaxi operations, which may lead to significant technological changes in the industry [5].

Group 1 - The national standard for "Safety Requirements for Intelligent Connected Vehicle Combination Driving Assistance Systems" aims to establish clearer safety benchmarks for the rapidly developing intelligent driving assistance industry [1][3] - The project, proposed by the Ministry of Industry and Information Technology, has a duration of 22 months and involves key organizations such as the China Automotive Technology and Research Center, Dongfeng Motor Group, and Huawei [1] - The standard will apply to M and N category vehicles equipped with combination driving assistance systems, outlining general technical requirements including motion control, driver state monitoring, system detection capabilities, and safety requirements [1][2] Group 2 - The introduction of mandatory national standards is expected to enhance product safety performance and reduce accidents caused by performance defects, thereby improving overall road safety in China [3] - Industry experts believe that the new regulations are not intended to hinder technological advancement but to ensure safer implementation of technology [4] - Companies like XPeng, Chery, and Changan are accelerating the development of L3 autonomous driving technology, with plans for commercial deployment in the coming years [4]