Core Viewpoint - Youjia Innovation (02431.HK) has announced a strategic partnership with Proton Motors to empower a greener and smarter new energy commercial vehicle industry [1][2]. Group 1: Strategic Cooperation - The cooperation aims to reshape the operational model and value chain of new energy commercial vehicles by sharing resources in industrial clusters, technological innovation, and product solutions [1][2]. - The collaboration includes the development of commercial vehicle advanced driver assistance systems (AEB products, high-level assistance driving products), autonomous driving product research (unmanned freight scenarios), and the construction of a data closed-loop system [1][2]. - The partnership covers the development and iteration of L1-L4 autonomous driving technologies, as well as the data platform support required for the "intelligent" and "connected" aspects of new energy commercial vehicles [1][2]. Group 2: Industry Context - Traditional commercial vehicles have long been criticized for high energy consumption, low comfort, and weak safety, while facing challenges such as labor shortages [1][2]. - According to the China Association of Automobile Manufacturers, the domestic sales of new energy commercial vehicles are expected to reach 532,000 units in 2024, representing a year-on-year growth of 28.9% and accounting for 17.9% of total commercial vehicle sales [2]. - The strategic cooperation between Youjia Innovation and Proton Motors aligns with the increasing regulatory standards for the commercial vehicle industry, indicating a clear future for greener and smarter commercial vehicles [2]. Group 3: Company Background - Youjia Innovation, established in 2014, is a leading provider of intelligent driving and smart cockpit solutions in China, having formed production cooperation with 35 automakers by the end of 2024 [3]. - Proton Motors, founded in April 2022, has received accolades such as potential unicorn status and has proprietary technologies in hydrogen fuel cell systems, electronic architecture, solid-state chassis, intelligent driving, and new materials [3]. - Proton Motors is set to deliver 300 hydrogen-powered heavy trucks by November 2024, marking the largest order for operational hydrogen heavy trucks in China [3].

Core Viewpoint - The strategic partnership between Youjia Innovation and Proton Motors aims to enhance the development of greener and smarter new energy commercial vehicles, addressing industry pain points and promoting a more competitive market [2][3]. Group 1: Strategic Cooperation - Youjia Innovation and Proton Motors will share resources in industrial clusters, technological innovation, and product solutions to reshape the operational model and value chain of new energy commercial vehicles [2]. - The collaboration will focus on the development of commercial vehicle advanced driver assistance systems (AEB products, high-level assistance products), autonomous driving products (unmanned freight scenarios), and the establishment of a data closed-loop system [2][3]. - The partnership encompasses the development and iteration of L1-L4 autonomous driving technologies, as well as the data platform support required for the "intelligent" and "connected" aspects of new energy commercial vehicles [2]. Group 2: Industry Challenges and Solutions - Traditional commercial vehicle products are criticized for high energy consumption, low comfort, and weak safety, while the industry faces challenges such as labor shortages [2]. - The collaboration is expected to address these industry pain points, significantly improving the transportation comfort and safety of commercial vehicles, thus bringing more competitive products to the market [3]. - In addition to mass-producing new energy commercial vehicle products, the partners will explore unmanned freight scenarios, introducing new transportation solutions and capacity models [3]. Group 3: Future Outlook - Youjia Innovation anticipates mutual benefits, resource sharing, and joint development through this strategic cooperation, positioning itself as an "enabler of smart vehicles" [3]. - The company is open to collaborating with more industry partners to discuss future blueprints and empower the development of the Chinese automotive industry [3].

Group 1: Product Development and Market Strategy - The linear control products have begun mass production, with expected sales of approximately 1 billion CNY over a 5-year lifecycle, starting from Q1 2026 [2][3] - The company has a broad customer base, including major domestic and international automotive manufacturers, and is actively expanding its client portfolio [3][4] - The company is focusing on promoting new technologies and products, including the wheel hub motor and electronic mechanical brake (EMB) systems, to enhance market presence [6][8] Group 2: Financial Performance and Projections - As of May 9, 2025, the total number of shareholders is 47,857 [6] - The company’s net asset return has been steadily improving, with a focus on cost control and efficiency to enhance profitability [7][9] - The automotive electronics segment is expected to see significant growth, with plans to increase R&D investment in this area [7][9] Group 3: Challenges and Market Conditions - The actual supply volume of products may be influenced by various factors, including the production schedules of vehicle manufacturers and market acceptance [5][13] - The company acknowledges the competitive landscape, particularly in the wheel hub motor sector, and is exploring collaborations with major manufacturers [6][10] - The company is not currently involved in AI robotics but is focusing on smart driving technologies [9][10] Group 4: Future Plans and Innovations - The company aims to expand its market coverage and enhance its product offerings, particularly in automotive electronic systems [10][11] - There are no current plans for acquisitions in the integrated circuit chip sector, but future strategies will be evaluated based on business development [11][11] - The company is committed to improving its operational management to boost market competitiveness and overall efficiency [8][10]