Investment Rating - The investment rating for Geely Automobile (175 HK) is "Buy" with a target price of 18.50 HKD, indicating a potential upside of 3.4% from the closing price of 17.90 HKD as of March 3, 2025 [3][4]. Core Insights - Geely's AI Smart Technology Conference marked 2025 as the "Year of AI+Car," signifying a shift from "Car+AI" to "AI+Car," focusing on AI as the core of automotive transformation [2]. - The launch of the "Qianli Haohan" intelligent driving system, which includes five versions (H1 to H9) with capabilities ranging from basic assistance to full L3 autonomous driving, aims for mass production in the year [2]. - Geely's strategy emphasizes "safety equity," aiming to democratize high-level intelligent driving across all vehicle price segments, contrasting with competitors like BYD and Changan [2]. Summary by Sections AI and Intelligent Driving - Geely's new intelligent driving system, "Qianli Haohan," will be integrated into models like the Galaxy and China Star, with the H9 version being the first L3 autonomous driving solution ready for mass production [2]. - The system boasts a minimum of 100 TOPS computing power for the H1 version, with the H3 version set to feature urban driving capabilities [2]. Technological Trends - The conference highlighted three key technological trends: superhuman-machine interaction, integration of autonomous driving with execution, and the elevation of connected vehicle models [2]. - Collaborations with partners like Jieli Technology aim to enhance data generation for extreme driving scenarios and improve voice interaction experiences [2]. New Model Launches - The 2025 Galaxy E8 was launched with a promotional price range of 149,800 to 198,800 RMB, which is 16,000 RMB lower than the previous model [2]. - The new model features advanced technology, including a 45-inch 8K display and a Qualcomm Snapdragon 8295 chip, enhancing the user experience [2]. Competitive Positioning - Geely's strategic focus on in-house capabilities aims to reduce reliance on external suppliers, enhancing its competitive edge in the intelligent vehicle market [2]. - The company plans to leverage its Agent OS cockpit operating system for cross-domain collaboration and personalized experiences [2].

Investment Rating - The report assigns a "Buy" rating to Geely Automobile (175 HK) with a target price of 18.50 HKD, indicating a potential upside of 3.4% from the closing price of 17.90 HKD as of March 3, 2025 [3][4]. Core Insights - Geely Automobile's AI Smart Technology Conference marked the beginning of the "AI+Car" era, transitioning from "Car+AI" to "AI+Car," emphasizing AI as the core of automotive transformation [2]. - The company introduced the "Qianli Haohan" intelligent driving system, which includes five versions (H1 to H9) that cover functionalities from basic assistance to full-scenario L3 autonomous driving, with plans for mass production in the current year [2]. - Geely aims to democratize high-level intelligent driving capabilities across all price segments, promoting the concept of "safety equality" [2]. Summary by Sections AI and Technology Strategy - The report highlights three technological trends presented by Qianli Technology's chairman: superhuman-machine interaction, integration of autonomous driving and execution, and the elevation of connected vehicle models [2]. - Geely's collaboration with partners like Jiyue Xingchen aims to enhance AI applications and reduce barriers for developers through an open-source strategy [2]. Product Launches - The 2025 Geely Galaxy E8 was officially launched with a promotional price range of 149,800 to 198,800 RMB, which is 16,000 RMB lower than the previous model [2]. - The new model features advanced technology, including a 45-inch 8K display and a Qualcomm Snapdragon 8295 chip, along with an upgraded intelligent driving perception system [2]. Competitive Positioning - Geely's recent announcements are seen as a response to competitors like BYD and Changan, emphasizing its systematic capabilities and platform advantages while minimizing reliance on external suppliers [2].