Core Points - The new standard for Advanced Emergency Braking System (AEB) will replace the existing recommendation standard and become mandatory for M1 and N1 vehicle categories starting January 1, 2028 [1][6] - The new standard aims to enhance vehicle safety by requiring AEB systems to recognize vulnerable road users such as pedestrians and cyclists, which were not covered in the previous standard [6][9] - The implementation of the new standard is expected to significantly reduce traffic accident casualties and will compel automotive manufacturers to increase R&D investments [12] Summary by Sections Standard Transition - The new standard titled "Technical Requirements and Test Methods for AEB in Light Vehicles" is currently in the public consultation phase, with a deadline for feedback set for June 30, 2025 [1] - The new standard will transition from a recommendation to a mandatory requirement for M1 and N1 vehicles, expanding the scope of AEB functionality [6] Technical Requirements - The new standard raises technical benchmarks for AEB systems, including the ability to identify not only vehicles but also vulnerable road users like pedestrians and cyclists [7][9] - Specific speed activation ranges for AEB systems are defined: M1 vehicles must activate between 10 km/h and 80 km/h, while N1 vehicles must activate between 10 km/h and 60 km/h [7] Market Impact - As of early 2023, the AEB installation rate in domestic passenger vehicles reached 56.5%, with 62.9% in the new energy vehicle segment, indicating a growing trend towards AEB adoption [10] - The new standard is anticipated to create a significant shift in the automotive industry, potentially leading to increased costs and adjustments in R&D and vehicle integration for manufacturers [12]

今年6月底，由工业和信息化部装备工业一司组织全国汽车标准化技术委员会智能网联汽车分会起草的 《轻型汽车自动紧急制动系统技术要求及试验方法》（以下简称"新国标"）将结束对外征求意见。 新国标的即将出台，引发行业和社会的密切关注。此前，《乘用车自动紧急制动系统（AEBS）性能要求及 试验方法》（GB/T 39901-2021）从类型上看仅为国家推荐性标准，且只关注AEB在乘用车产品上的性能与 测试。毫无疑问，新国标将对AEB的普及带来巨大的推动作用。 从推荐性到强制性 AEB将成标配 "AEB从推标到强标的升级体现了行业的进步，行业对AEB功能的应用与评价正趋于完善；同时，这也是相 关部门对消费者诉求的积极反馈。作为从业者，我们非常乐见这一发展。"采埃孚亚太区电子与高级驾驶辅 助系统事业部相关负责人告诉《中国汽车报》记者。 万安科技技术中心专家梁华芳在接受记者采访时表示："当前，中国汽车智能化进程加速，安全已成为用户 和监管部门的核心关切。作为辅助驾驶的基础功能，AEB的标配标志着行业将从'被动合规'向'主动安全'跨 越。" 梁华芳认为，AEB从推荐性标准升级为强制性标准，是中国汽车安全技术发展的必然选择。这种必 ...

行业研究 不止于车载传感器，非车赛道激光雷达加速放量背景下，重点推荐全球激光雷达龙头速腾聚创、禾赛。 智能驾驶技术路线改变；L3/L4 渗透率不及预期；泛机器人视觉方案出现变动；国际关系端影响海外销售风险。 敬请参阅最后一页特别声明 1 行业研究 内容目录 | 1. 车规市场：AEBS 新规有望推动激光标配，下沉化+高端化或牵引量价齐升 5 | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | 1.1 ≤L2 辅助驾驶：AEBS 系统或将升级为强制性国标，标配车载激光雷达或提上日程 5 | | | | | | | | | 1.2 L3 有条件的自动驾驶："接管缓冲期+责任转移"，单车 4-5 颗激光雷达或为刚需 8 | | | | | | | | | 自动驾驶：Robotaxi 落地车型搭载 颗激光雷达，中美主流厂商进展提速 9 1.3 L4 7-10 | | | | | | | | | 1.4 规模扩容：成本下探+政策催化激活中低端市场，L3/4 高阶智驾有望构筑"通胀引擎" 10 | | | | | | | | | 2. 割 ...

2 | | | 3 编号：2025-008 投资者关系活动 类别 ☑特定对象调研 □分析师会议 □媒体采访 □业绩说明会 □新闻发布会 □路演活动 ☑现场参观 □其他 （线上会议调研） 参与单位名称及 人员姓名 山西证券刘斌、贾国琛，宁波宝隽董一平 时间 2025 年 06 月 06 日 地点 公司会议室 上市公司接待人 员姓名 副总经理、董事会秘书邱蓉 证券办 李琼婷 投资者关系活动 主要内容介绍 一、公司情况介绍 二、公司情况交流 1、公司有 AEB 产品销售吗？ 答：AEB 属于 ADAS 系统的一个主动安全功能，公司没有单独 销售 AEB 产品，主要通过线控制动产品帮客户实现 AEB 功能。 公司线控制动产品于 2024 年开始量产，目前销售占比不大。 2、公司除了萧山本部这边，其他地方有生产基地吗？ 答：公司目前主要有萧山本部、安徽广德和湖州安吉三大生产 基地，公司在柳州、广州、长春等各地也有生产基地便于为整 车就近配套，同时公司的摩洛哥生产基地项目目前也正在有序 推进中。 3、公司毛利率提升的原因主要有哪些？ 1 | | 答：受益于国内汽车销量的增长及公司国际市场新项目的上 | | --- | - ...

AEB强制国标的出台，必将加速我国汽车安全技术的国际化进程，推动我国汽车安全技术标准全面跃 升。这将促使汽车行业从"被动安全"向"主动安全"转型，从"以功能为中心"向"以用户为中心"转变，深 度重构汽车产业的底层逻辑，推动汽车从"交通工具"向"智能终端"进化。 近日，强制性国家标准《轻型汽车自动紧急制动系统技术要求及试验方法》完成起草并进入公开征求意 见阶段。该标准将替代现行推荐性国标，且适用范围有所扩大，明确规定M1类（轿车、SUV、MPV等 乘用车）和N1类（轻型载货汽车）应装备自动紧急制动系统（AEB）。这意味着，具备AEB系统开发 能力、对安全技术有成熟落地经验的车企或供应商将迎来发展利好。 随着电动智能汽车市场占有率不断提升，业内对AEB功能的讨论愈发激烈。2023年底，华为常务董事、 终端BG董事长余承东和小鹏汽车董事长兼CEO何小鹏围绕AEB功能展开的"口水战"便是典型。当时， 何小鹏"99%的AEB是假的"这一言论引发车圈广泛关注。 此次新国标直击行业"伪AEB"痛点，对辅助驾驶方案供应商的技术研发能力、产品可靠性、成本控制能 力以及规模化量产落地能力都提出了更高要求。在性能标准方面，新国标规 ...

最近，汽车圈的一项"沉默但关键"的技术——自动紧急制动系统（AEB），正从幕后走向台前，即将从"选配"升级为"标配"。 2025年5月，工信部牵头起草的《轻型汽车自动紧急制动系统技术要求及试验方法》公开征求意见，首次将AEB（自动紧急制动系统）从推荐性标准变为 强制性标准。 这一政策信号预示着，汽车主动安全技术将从车企的技术储备转变为全民出行的刚性需求，推动行业从"功能堆砌"向"安全实效"深层转型。 例如，乘用车需在60km/h内避免与静止车辆碰撞，在40km/h内避免与横穿行人碰撞，响应速度和制动效能均达到国际一流水平。 新国标直指行业"伪AEB"痛点，对智能辅助驾驶方案供应商的技术研发能力、产品可靠性、成本控制能力，以及规模化量产落地能力提出更高标准。 由于此前国内未将AEB系统纳入强制标准，市场上存在AEB产品的实际稳定性与宣传错位的情况。一旦车辆驾驶速度达到一定程度，某些性能不佳的AEB 会"显出原形"。 AEB技术新规箭在弦上 虽然每家车企都高举着"智驾平权"的大旗，但AEB这类主动安全系统，目前在我国的整体装配率不足60%。乘联会最新统计显示，8万元以下的入门级车 型，AEB装配率仅为2.6%。不 ...

Core Viewpoint - The automotive industry is increasingly emphasizing safety as a core value, with Volvo positioning safety not just as a selling point but as a fundamental belief and systematic capability [3][10][21]. Group 1: Safety as a Core Value - Volvo's CEO in the Asia-Pacific region, Yuan Xiaolin, states that safety is a belief rather than a marketing point, emphasizing a systematic approach to safety [3][10]. - The launch of the new S90 showcases Volvo's commitment to safety through detailed presentations of safety features and manufacturing processes [3][4]. - Volvo's approach to Automatic Emergency Braking (AEB) focuses on balancing effective triggering and minimizing false activations, with a target of no more than one false activation every 220,000 kilometers [5][10]. Group 2: Technological Integration and Reliability - Volvo categorizes intelligent safety features into those that impact driving and those that do not, ensuring high reliability for features that affect driving [8][18]. - The company maintains a commitment to not releasing unverified technologies to consumers, ensuring that all features provide real value [18][20]. - Volvo's safety system integrates various technologies based on real traffic safety needs, emphasizing the importance of a comprehensive safety framework [11][17]. Group 3: Market Positioning and Pricing Strategy - The starting price of the new S90 is set at 300,900 yuan, reflecting a 100,000 yuan reduction from the previous version, indicating a strategic response to market competition [10][23]. - Despite price adjustments, Volvo remains committed to its safety standards and will not compromise on quality or safety for market survival [10][20]. - The company believes that a brand's survival should be rooted in its values, with safety being a non-negotiable aspect of its identity [10][20]. Group 4: Global Standards and Local Production - Volvo's Daqing factory is the exclusive production base for the S90, adhering to global safety standards while producing vehicles for the global market [9][25]. - The factory is noted for its commitment to sustainability, being the first in Heilongjiang to achieve 100% carbon-neutral electricity usage [25]. - Volvo maintains a unified global quality standard, ensuring that products meet high safety and quality benchmarks regardless of the market [25].

报告导读： AEB 强标法规的出台，有望推动线控制动渗透提速和 ESC 国产替代。 风险提示：线控制动国产替代不及预期、 ESC 升级线控制动进程不及预期。 文章来源 本文摘自：2025年5月28日发布的 AEB强标法规出台，线控制动渗透提速 刘一鸣 ，资格证书编号： S0880525040050 事件：根据全国标准信息公共服务平台，工业和信息化部已组织开展了《轻型汽车自动紧急制动系统技术 要求及试验方法》国家标准的征求意见稿，现公开征求意见，征求意见截止日期为 2025 年 6 月 30 日， 拟实施日期为 2028 年 1 月 1 日。我们判断，自动紧急制动系统将有望成为标配。 我们判断该强标法规将带动制动系统各类电控装置渗透率提升。具体如下：根据高工汽车公众号，目前国 内市场在售乘用车的 AEB 前装标配搭载率仍呈现逐年上升势头。高工智能汽车研究院监测数据显示， 2024 年，中国市场（不含进出口）乘用车前装标配 AEB 搭载率为 63% ，同比上一年度提升约 5.6 个 百分点。其中， 20 万元及以上价位车型的 AEB 前装标配搭载率均已经超过或者接近 90% ， 15-20 万 元价位则是接近 8 ...

Core Insights - The Industrial Internet Theme Index (931495) has seen a strong increase of 1.94% as of May 29, 2025, with significant gains in constituent stocks such as Huada Jiutian (301269) up 15.75% and Desay SV (002920) up 10.00% [1] - The Industrial Internet ETF (159778) has risen by 2.36%, with a latest price of 0.83 yuan, and has accumulated a 16.81% increase over the past year as of May 28, 2025 [1] - The Ministry of Industry and Information Technology is seeking public opinion on the national standard for Automatic Emergency Braking (AEB) systems, which is expected to become a standard feature and enhance the penetration of various electronic control devices in braking systems [1] Industry Analysis - According to Guotai Haitong Securities, the hardware required for AEB is divided into intelligent driving and chassis execution components, with significant opportunities for domestic replacement in the ESC function, which is currently dominated by foreign companies [2] - The new regulations are anticipated to promote the penetration of line control braking, which is more efficient than ESC [2] - The Industrial Internet Theme Index comprises 50 listed companies involved in hardware manufacturing, software development, and application services, reflecting the overall performance of the industrial internet theme [2] - As of April 30, 2025, the top ten weighted stocks in the Industrial Internet Theme Index account for 47.41% of the index, including companies like BYD (002594) and Hikvision (002415) [2]

2023年底，华为常务董事、终端BG董事长余承东和小鹏汽车董事长兼首席执行官何小鹏围绕AEB（自动紧 急制动系统）功能展开的"口水战"，引发社会各界广泛关注。何小鹏抛出"99%AEB是假的"的言论，瞬间激 起千层浪，余承东随即作出回应，双方你来我往、针锋相对。表面上看，这只是一场关于技术路线的争 论，实则是对安全认知的深刻探讨，更折射出汽车行业正从"被动安全"向"主动安全"转型的重大变革。这场 论战，也像是为即将出台的AEB强制国标奏响的前奏曲。 不过，强制安装AEB也将引发成本与价格之间的博弈。对于低端车型而言，配装AEB系统必然会增加制造 成本，导致车辆售价上涨。这对于价格敏感的消费群体来说，短期内或抑制部分购买需求。但从长远来 看，这一变化也孕育着新机遇。 本土供应商通过技术创新来破解成本困局，例如豪恩汽电推出的集成式智能感知模组， 将摄像头与雷达设 计在同一个壳体内，物料与装配成本降低30%；亚太股份开发的AEB与ESC硬件共平台方案，使执行模块成 本降低40%以上。另外，万安科技与小米汽车合作开发的轻量化副车架，让整车重量减轻8%，间接提升 AEB制动效率。这些创新成果让国产方案的单价较外资产品低2 ...