GENVICT(SZ:002869)2023-12-01 13:10Group 1: V2X Implementation Challenges - The main obstacles in promoting V2X include standards, policies, and funding [1] - There is currently no unified standard system in China for V2X, which is crucial for interconnectivity between cities and vehicles [1] - Government guidance on industry funding is essential for accelerating the development of V2X [3] Group 2: Company Capabilities and Market Position - The company has been developing V2X technology since 2013 and is a leading unit in the research of key technologies for intelligent vehicle-road collaboration [3] - The company has established partnerships with dozens of automotive manufacturers, including traditional, new energy, and joint venture car companies [6] - The company possesses a complete product system for vehicle-road collaboration, with V2X products already in mass application [3] Group 3: Revenue and Market Trends - The ETC business saw a growth of 40.73% in 2022 and 15.19% in the first half of 2023, although overall gross margin has declined [5] - The new intelligent toll collection systems have shown significant growth potential, although ETC still holds a higher revenue share [5] - The company’s revenue is categorized by application scenarios, including smart highways, smart cities, and automotive electronics [4] Group 4: Future Industry Outlook - The V2X industry is expected to grow from pilot applications to broader development, supported by numerous government policies [5] - The demand for ETC systems is anticipated to increase with the promotion of the "Traffic Guardian" system, which integrates monitoring, communication, and tolling [4] - The company is positioned to benefit from the upcoming replacement demand in the aftermarket for ETC devices [5]