Group 1 - The Hong Kong technology sector is expected to remain a focal point for institutional investors as it enters 2026, despite lagging behind global markets since October last year [1] - The Hang Seng Index currently has a price-to-earnings ratio of around 11 times, while the Hang Seng Technology Index has seen a decline from approximately 26 times in October 2025, indicating relatively "cheap" valuations [1] - The recent adjustments in the Hong Kong technology sector are primarily attributed to market liquidity disturbances rather than fundamental changes in the sector [2] Group 2 - The peak of the "unlocking tide" has intensified adjustment pressures, with significant stocks like Yujia Innovation and Yujian experiencing high percentages of unlocked shares, approximately 71.34% and 64.27% respectively [2] - Following the unlocking, stocks like Yujia Innovation saw price increases, indicating that the market has absorbed the pressure from the unlocking events [3] - Major shareholders of Yujia Innovation have expressed a commitment to long-term investment, with announcements of shareholding extensions and stock repurchases, signaling confidence in the company's future [3][4] Group 3 - Yujia Innovation is positioned in a high-growth trajectory, with a projected compound annual growth rate of over 50% in revenue from 2022 to 2024, and a revenue of 346 million yuan in the first half of 2025, reflecting a year-on-year growth of 46.1% [7][8] - The company has secured new projects with 18 new clients, expanding its customer base and enhancing its revenue growth potential [8] - Yujia Innovation's product offerings in intelligent driving and cabin solutions align with the growing demand for AI-driven technologies, reinforcing its position as a key player in the market [8][13] Group 4 - The Hong Kong technology sector is anticipated to experience a rebound, with the first quarter of 2026 presenting opportunities for left-side positioning in quality tech assets [10] - The easing of liquidity pressures from the unlocking tide is expected to facilitate a recovery in the sector, supported by favorable macroeconomic conditions and policies promoting technological innovation [10] - Yujia Innovation's unique positioning as a leading player in the autonomous logistics sector enhances its value proposition within the Hong Kong technology landscape [10][11]

Core Viewpoint - The article emphasizes that despite short-term market fluctuations and emotional impacts, the long-term value of a company is rooted in its fundamentals and growth prospects, suggesting that current price dips may present strategic buying opportunities for investors [1][10]. Company Overview - Youjia Innovation (佑驾创新) is recognized as a high-growth company in the intelligent driving sector, having achieved significant milestones and is considered a rare potential stock in smart driving [1][4]. - The company successfully listed on the capital market at the end of 2024, demonstrating its solid fundamentals and strong growth expectations [2][3]. Financial Performance - Youjia Innovation's revenue grew at a compound annual growth rate (CAGR) of over 50% from 2022 to 2024, with a 46% increase in revenue to 346 million yuan in the first half of the previous year [3][4]. - The company completed two strategic financings post-listing, which bolstered its research and market expansion efforts [3]. Business Developments - The company has made significant advancements in various core areas, including Advanced Driver Assistance Systems (ADAS), Driver Monitoring Systems (DMS), and vehicle-road collaboration [4][5]. - As of June 30, 2025, Youjia Innovation has partnered with 42 vehicle manufacturers, expanding its influence in both domestic and international markets [4]. Product Innovations - Youjia Innovation launched several intelligent driving solutions in the first half of 2025, including the iPilot 4 Plus and iPilot 4 Max, to meet the growing demand for mid-to-high-level intelligent driving [4]. - The company also introduced the iCabin Lite product and the "Smart Butler BamBam" for intelligent cockpit solutions, securing orders worth approximately 320 million yuan [5]. Market Position and Future Outlook - The intelligent driving industry is evolving, with the recent approval of L3-level autonomous driving vehicles in China marking a significant step towards commercialization [8][9]. - Youjia Innovation is well-positioned to leverage its L4 capabilities and extensive L2 data to enhance its L3 solutions, indicating strong growth potential [8][9]. - The company is expected to experience a revaluation as it continues to demonstrate its unique growth path and capitalize on policy support [9][10].