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港股概念追踪 | “车路云一体化”政策利好频出 万亿市场有望迎来爆发期(附概念股)

Hong Kong stock concept tracking | "vehicle-road cloud integration" policy is bullish with frequent releases, the trillion-dollar market is expected to usher in a booming period (with concept stocks).

Zhitong Finance ·  Jul 17 19:45

Citic Securities pointed out that as the regulations for the autonomous driving industry are gradually improved at the national and local levels, all aspects of the industrial chain are expected to accelerate technology research and development and product launch, thus benefiting the automobile intelligentization industrial chain.

As reported by the Zhitong Financial App, in order to allow 'smart cars to run on intelligent roads', local governments spare no effort. On July 17th, the 'Vehicle-Road Cloud Integration' application demonstration project of Zhangzhou Intelligent Network was approved by the Fujian Development and Reform Commission for record-filing. On the same day, Changchun City, which was shortlisted as a pilot city for the 'Vehicle-Road Cloud Integration' application of national intelligent networked cars, announced that it had launched the construction of the 'vehicle-road cloud integration' and planned to invest a total of 12.7 billion yuan over the next three years to comprehensively develop typical demonstration application scenarios such as transportation hubs, city roads, expressways, and highways.

According to the data, 'Vehicle-Road Cloud Integration' integrates the physical layer, information layer, and application layer of people, cars, roads, and clouds through the use of new generation of information and communication technologies, and achieves the safe, energy-saving, comfortable, and efficient operation of the transportation system based on system collaborative perception, decision-making, and control. Its development path is a key driving force for promoting the large-scale industrial application of smart networked cars.

According to the 'Incremental Value Forecast of Intelligent Networked Cars in the Vehicle-Road Cloud Integration' report (hereinafter referred to as the 'incremental value forecast' report) released by institutions such as the Chinese Association of Automobile Engineers, under the neutral expectation scenario, the incremental value of the intelligent networked car industry in the 'Vehicle-Road Cloud Integration' is expected to reach 729.5 billion yuan and 2,582.5 billion yuan in 2025 and 2030 respectively, with an average annual compound growth rate of 28.8%. The development of the industry will actively promote China's economic growth.

To support the development of the related industries under 'Vehicle-Road Cloud Integration', policy has been consistently strengthened this year.

On July 3rd, the Ministry of Industry and Information Technology, the Ministry of Public Security, the Ministry of Natural Resources, the Ministry of Housing and Urban-Rural Development, and the Ministry of Transport announced the list of pilot cities for the intelligent networked car 'Vehicle-Road Cloud Integration' application, including Beijing, Shanghai, Shenzhen, Guangzhou, Wuhan, Chongqing, Nanjing, Suzhou, Chengdu, and the joint team of Hangzhou-Tongxiang-Deqing.

According to incomplete statistics, several cities such as Beijing, Wuhan, and Ordos have launched tenders for relevant projects. In May, Beijing announced a nearly 10 billion yuan 'vehicle-road cloud integration' new infrastructure project plan; In June, Wuhan's 17 billion yuan 'vehicle-road cloud integration' major demonstration project was approved by relevant departments for filing; also in June, the 105 million yuan new energy intelligent networked vehicle 'vehicle-road cloud integration' application demonstration project of Ordos was successful. In addition, many cities such as Fuzhou, Hangzhou, and Shenyang have also launched tenders for relevant projects, allowing 'Vehicle-Road Cloud Integration' to enter a new stage of large-scale demonstration applications from the small-scale testing and verification stage.

Under policy guidance, many enterprises have actively responded and launched practices and technological innovations in the field of 'Vehicle-Road Cloud Integration'. As a leader in the industry, Mushroom Car联 has independently developed an 'Vehicle-Road Cloud Integration' autonomous driving system, applying advanced technologies such as integrated perception, decision-making and control, high-precision maps, high-precision positioning, AI, simulation system, cloud-edge computing, and real-time big data to meet the needs of different scenarios and vehicle models. Mushroom Car联's system has been implemented in multiple cities, including public transportation and park shuttle bus services, demonstrating strong technological capabilities and commercial implementation capabilities.

In addition, technology giants such as Baidu and Huawei have also actively laid out in the 'Vehicle-Road Cloud Integration' field. Baidu aims to promote the landing of smart transportation projects with the route of 'smart bike intelligence + networked car empowerment'; Huawei is more focused on building a smart transportation system and has implemented it in multiple cities. The active participation of these companies has provided powerful support for the rapid development of 'Vehicle-Road Cloud Integration' technology.

Citic Securities pointed out that as the regulations for the autonomous driving industry are gradually improved at the national and local levels, all aspects of the industrial chain are expected to accelerate technology research and development and product launch, thus benefiting the automobile intelligentization industrial chain. Recommended: 1) Head supplier of the roadside equipment and cloud control platform; 2) Head component supplier of intelligent driving; 3) The leading automaker in the development of intelligent driving.

Orient Securities pointed out that the construction project of "vehicle-road cloud integration" not only can promote the commercialization process of autonomous driving, but also empower various aspects such as smart transportation and safety travel. It has become a direction supported by the Chinese government and a key development direction. The early construction and long-term operation of vehicle-road cloud integration involves a wide range, and many smart transportation-related companies related to road, vehicle, cloud, and road intelligence operation are expected to benefit.

Related concept stocks:

On June 6th, BYD held its 2023 shareholder meeting in Pingshan, Shenzhen. Wang Chuanfu stated that the application of the company's AI technology is mainly reflected in two aspects: intelligent driving and intelligent manufacturing. In the field of intelligent driving, BYD has more than 4,000 engineers participating in research and development, covering software, algorithms, chips, intelligent driving solutions and other aspects. The company plans to invest 100 billion yuan to layout smart driving in the long run and in an all-round way.

XPeng auto (09868): XPeng's new model Mona is expected to debut, positioning in the A-class car market, relying on XPeng's self-developed intelligent driving technology to enable high-end intelligent driving functions in the price range of 100,000 to 150,000 yuan, differentiated product competitiveness will help brand sales and momentum breakthrough.

Zhihang Automotive Technology (01274): The company is a leading provider of autonomous driving solutions in China and has established partnerships with many well-known auto manufacturers such as Great Wall, Chery, Dongfeng, etc. Citi noted the strong order trend of Zhihang Automotive Technology, especially the strong order volume of traditional partner JiKe and the increase in sales from award-winning safety design. It is expected that 2024 will be the turning point for Zhihang Automotive Technology to turn losses into profits, and it is expected to achieve a net income of 500 million yuan in 2026.

ST Juchuang (02498): ST Juchuang announced that in the first half of 2024, the sales volume of Juchuang lidar was about 0.2434 million units, a year-on-year increase of 415.7%, of which the sales volume of vehicle-mounted lidar was about 0.2345 million units, a year-on-year increase of 487.7%. In the second quarter of 2024, the sales volume of Juchuang lidar was about 0.123 million units, and the sales volume of vehicle-mounted lidar was about 0.1183 million units. As of June 30, 2024, the accumulated total sales volume of lidar was about 0.5835 million units, and the accumulated sales volume of vehicle-mounted lidar was about 0.5183 million units.

Nexteer (01316): a global leader in electric steering, with a complete product portfolio including EPS, CIS, and DL. In Q3 2023, it obtained the first EPS order from the world's leading electric vehicle manufacturer, and is a pioneer in the field of online control steering.

Zhejiang Shibao (01057): Products include steering columns, DP-EPS, R-EPS, intelligent steering systems, and online control steering systems.

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