The Zhitong Finance App learned that Guosheng Securities released a research report saying that according to the Beijing News report, on June 30, the Beijing Municipal Bureau of Economy and Information Technology issued the “Beijing Autonomous Vehicle Regulations (Draft for Comments)”. In terms of industrial innovation, the “Draft for Solicitation of Comments” specifically stipulates innovative research and development, promotion of industrial chain development, test evaluation and certification capacity building, standard setting, and data utilization. Beijing is expected to become a benchmark city for autonomous driving, or to accelerate the implementation of autonomous driving in China. On the other hand, Tesla has entered the procurement catalogue of the Jiangsu local government and Shanghai state-owned enterprises, and is expected to open up more Chinese markets in the future. As the global leader in autonomous driving technology, Tesla is expected to fully drive the progress of domestic autonomous driving technology, and domestic car companies are expected to launch more models with autonomous driving functions.

Guosheng Securities's main views are as follows:

“Beijing Autonomous Vehicle Regulations (Draft for Comments)” released, domestic autonomous driving applications are expected to be implemented at an accelerated pace

According to a Beijing News report, on June 30, the Beijing Municipal Bureau of Economy and Information Technology issued the “Beijing Autonomous Vehicle Regulations (Draft for Comments)”. In terms of industrial innovation, the “Draft for Solicitation of Comments” made specific provisions on innovative research and development, promotion of industrial chain development, test evaluation and certification capacity building, standard setting, and data utilization. In addition, in February 2024, the Beijing Municipal People's Government issued the “2024 Municipal Government Work Report Key Task List”, proposing to complete the 3.0 phase of the construction of the High-Level Autonomous Driving Demonstration Zone, expand the area to 600 square kilometers, and launch the 4.0 phase. Beijing is expected to become a benchmark city for autonomous driving, or to accelerate the implementation of autonomous driving in China.

Tesla has entered the Jiangsu government procurement catalogue, which is expected to promote the advancement of domestic autonomous driving technology

According to a report by the Financial Services Association on July 5, according to the “Jiangsu Provincial Party and Government Organs, Institutions and Organizations 2024-2025 NEV Framework Agreement Procurement Shortlisted Notice (3)” disclosed by the Jiangsu Government Procurement Network, the Tesla Model Y rear-wheel drive version has entered the Jiangsu Provincial Government's NEV procurement catalogue. At the same time, Tesla has also become a number of state-owned enterprises in the Lingang New Area of Shanghai, including Shanghai Chengtou Xinggang Investment and Construction (Group) Co., Ltd. and Shanghai Lingang New Area Investment Holdings (Group) Co., Ltd. and many other state-owned enterprises purchased a number of Tesla Model Y vehicles for corporate functions.

According to a report by the Financial Federation on July 6, at the Tesla booth at the 2024 World Artificial Intelligence Conference and High-Level Conference on Artificial Intelligence Global Governance, the Tesla Model Y was equipped with a next-generation autonomous driving assistance hardware HW4.0 chip. Compared with the previous generation, the chip's computing power has increased 5 times, and the maximum detection distance is as high as 424 meters. Furthermore, Tesla FSD continues to be upgraded and iterated, and has already entered the V12.4 phase. FSD is Tesla's autonomous driving system, which supports functions such as automatic lane changes, automatic parking, and vehicle calls.

Guosheng Securities believes that Tesla has entered the procurement catalogue of the Jiangsu local government and Shanghai state-owned enterprises, and is expected to open up more Chinese markets in the future. As the global leader in autonomous driving technology, Tesla is expected to fully drive the progress of domestic autonomous driving technology, and domestic car companies are expected to launch more models with autonomous driving functions.

The smart cockpit is advanced and accelerated, and the monthly delivery of Qualcomm's fourth-generation cockpit platform exceeds 0.1 million vehicles

According to data from the Gaogong Intelligent Vehicle Research Institute, in May 2024, Qualcomm's fourth-generation cockpit platform (SA8295P) surpassed the 0.1 million vehicle mark for the first time in a single month, with a total of 0.2578 million vehicles delivered in January-May. At the same time, due to leading car companies and popular models speeding up upgrades from the previous generation 8155 to the 8295 platform, Qualcomm 8155 (domain control architecture) delivered 0.2011 million vehicles in May, a drop of nearly 50% compared to the high level in December last year. Since this year, major car companies' main models have begun to compete for “small end side models” and generative AI applications in the cockpit, and cockpit delivery has accelerated into the “AI smart cockpit era.” Guosheng Securities believes that the advanced acceleration of smart cockpits will help implement some advanced autonomous driving functions and drive the implementation of autonomous driving in China to further accelerate.

Q: Six months after the launch of the M9, it will surpass 0.1 million and become the top luxury car sales champion of 0.5 million or more. Autonomous driving is expected to fully lead consumption

According to AITO Auto's official account on June 26, in the 6 months since the M9 went on sale, it has definitely surpassed 0.1 million units, and has remained the top luxury car sales champion of 0.5 million or more, setting a new sales record for luxury brand models in the Chinese market. The Quanjie M9 is equipped with HUAWEI ADS 2.0 advanced intelligent driving assistance and has various smart driving functions such as AR reality matching and smart driving route reminders. Guosheng Securities believes that the popularity of the Quanjie M9 fully verifies that the autonomous driving function will help increase the sales volume of car companies, and the autonomous driving function is expected to fully lead consumption in the future.

Related targets: Tesla (TSLA.US), Celis (601127.SH), JAC (600418.SH), Wanma Technology (300698.SZ), Changan Automobile (000625.SZ), Desai Xiwei (002920.SZ), Zhongke Chuangda (300496.SZ), Haitian Ruisheng (688787.SH), BAIC Blue Valley (), Ling Electronics (Dubai), Huayi Technology (), Jing Hengweirun (688326. 600733.SH 688667.SH 688071.SH SH), Dongfeng Motor (600006.SH), Guangting Information (301221.SZ), etc.

Risk warning: Technology iteration falls short of expectations; economic downturn exceeds expectations; industry competition intensifies risks.

Risk warning: AI technology iteration falls short of expectations; risk of economic downturn exceeding expectations; industry competition exacerbates risks.