Core Insights - BMW Group has launched an integrated smart driving solution combining interaction, control, and driving assistance, with the new BMW iX3 being the first model to feature this technology [1] - The company emphasizes a differentiated approach in the competitive smart driving technology landscape, focusing on a holistic solution rather than single-function features [1][2] - The new generation models utilize a cutting-edge electronic architecture with four high-performance computers, achieving significant advancements in decision-making speed and processing power [1][2] Technology Development - The core innovation lies in the "Heart of Joy," which integrates power and chassis control, managing functions like power transmission, braking, charging, energy recovery, and steering [1] - The new system boasts a decision-making latency of under 1 millisecond and a tenfold increase in information processing speed compared to traditional systems [1] - The "smart driving assistance super brain" has seen a 20-fold increase in computing power, optimizing the entire chain from perception to control [1] Driving Experience - BMW's technology route reflects a commitment to the essence of driving, maintaining a dialogue between the driver and the vehicle even when smart assistance systems are engaged [2] - The design philosophy is rooted in BMW's 2016 concepts of "BOOST" and "EASE," emphasizing the synergy between driving performance and smart assistance [2] Data Utilization - The development of BMW's technology is supported by driving data from nearly 30 million global car owners, including over 7 million from China, providing a solid foundation for product design [2] Market Positioning - BMW's approach to smart driving technology represents a unique perspective on the transformation of traditional luxury car brands, aiming to balance brand heritage with technological innovation [2] - The market performance of BMW's new generation models will serve as an important reference for the smart transformation of traditional luxury brands in the automotive industry [2]

Core Viewpoint - The company, Junsheng Electronics, has achieved significant growth and global presence in the automotive parts industry, with a record order intake and plans for an IPO in Hong Kong to enhance its international capital platform [1][12]. Group 1: Business Performance - In 2024, Junsheng Electronics reported a revenue of 55.86 billion, with new orders reaching 83.9 billion, marking a 13.8% increase from 73.7 billion in 2023 [3]. - The company’s net profit attributable to shareholders increased by 27.7% to 1.28 billion, showcasing a robust performance despite market fluctuations [8]. - The gross profit margin improved by 1.8 percentage points to 16.3%, driven by the automotive safety and electronics segments [8]. Group 2: Strategic Advantages - Junsheng Electronics has a strong order reserve, with over 55% of new orders coming from the new energy sector, providing a solid performance cushion for the next 3-5 years [3]. - The company ranks fourth globally in the intelligent cockpit domain and is the second-largest supplier in automotive safety, benefiting from high technical and compliance barriers [4]. - The company is expanding into the robotics sector, leveraging its automotive technology to create a new growth avenue [5]. Group 3: Globalization and Market Position - In 2024, 76% of the company’s revenue came from overseas markets, supported by a network of 19 R&D centers and over 50 production bases worldwide [6]. - The company’s strategic restructuring in Europe aims to optimize costs and enhance long-term profitability, despite short-term impacts on net profit [9][10]. - Junsheng Electronics is positioned to capitalize on the global shift towards intelligent automotive solutions, enhancing its competitive edge [12]. Group 4: Future Prospects - The upcoming IPO in Hong Kong is expected to provide necessary capital for expanding production bases in Southeast Asia and developing cloud supply chain systems [13]. - The company aims to strengthen its brand influence and international identity through the dual listing strategy, enhancing its market position [13]. - Junsheng Electronics is transitioning from a "market for technology" model to a "technology export" strategy, reflecting the evolution of the Chinese automotive supply chain [12].