Hong Kong Stock Concept Tracking | Tesla Obtains National Automotive Privacy Protection Mark, Autonomous Driving Sector Continues to Attract Attention

On November 8th, at the 2024 China Automotive Software Conference hosted by the China Association of Automobile Manufacturers, the association officially released the "Automobile Privacy Protection" label, with Tesla becoming one of the first automakers to pass the evaluation and obtain the label authorization. Guolian Securities believes that Tesla's FSD is accelerating its iteration, with FSD V13 expected to integrate more features and plans to launch a wide-scale rollout by the end of November, which may significantly enhance user experience. Tesla's new factory may continue to advance, leading to increased demand in the related supply chain. Four departments are orderly carrying out pilot projects for the access and road use of intelligent connected vehicles. According to the latest announcement from the Ministry of Industry and Information Technology, experts organized by the four departments have conducted preliminary reviews and selective evaluations of the first batch of concentrated applications, determining nine consortia to enter the pilot phase. Among the nine automobile manufacturers, seven companies are piloting passenger vehicle products, including BYD (01211), Changan Automobile, GAC (02238) passenger vehicles, SAIC Group, BAIC Blue Valley, FAW Group, and the only new force automaker Nio-SW (09866). Recently, the Ministry of Industry and Information Technology stated that it will steadily promote the industrialization of autonomous driving technology. According to estimates from iiMedia Research, the autonomous driving vehicle industry is expected to achieve a CAGR growth rate of 27% from 2020 to 2025. Related companies in the autonomous driving supply chain: Horizon Robotics-W (09660): According to data from the Gaogong Intelligent Automotive Research Institute, Horizon ranked first in the market with a 28.65% market share for its intelligent driving solutions installed in self-owned brand passenger vehicles in China in the first half of this year; in the front-view integrated machine computing solution market (L2ADAS), Horizon also ranked first with a 33.73% market share. Caitong Securities pointed out that Horizon's revenue composition is mainly from automotive solutions, with over 270 models cumulatively designated as of the first half of the year. BLACK SESAME (02533): In the first half of 2024, thanks to the gradual increase in mass-produced models, autonomous driving navigation (NoA) has begun mass production in certain models and cities. The chips, algorithms, software, and toolchains have become increasingly mature, and the group has made significant progress in the fields of autonomous driving and intelligent vehicle solutions. In the first half of 2024, the overall revenue scale increased by 69.2% compared to the same period last year, and the order backlog also achieved a significant breakthrough, with the commercialization process continuing to accelerate and the core advantages in the autonomous driving chip field becoming increasingly prominent. Suteng Juchuang (02498): In the first half of this year, Suteng Juchuang's laser radar sales were approximately 243,400 units, a year-on-year increase of 415.7%, of which the sales of onboard laser radar were approximately 234,500 units, a year-on-year increase of 487.7%. In the second quarter of 2024, Suteng Juchuang's laser radar sales were approximately 123,000 units, with onboard laser radar sales of approximately 118,300 units. As of June 30, 2024, the historical cumulative total sales of laser radar were approximately 583,500 units, with cumulative sales of onboard laser radar approximately 518,300 units. GAC Group (02238): In May 2021, GAC Group made a strategic investment of over $300 million in Didi Autonomous Driving, which was valued at over $4 billion; in October 2023, GAC Capital and Guangzhou Development Zone Investment Group increased their investment, completing a financing round of $149 million This time, GAC Group is betting another $298 million, bringing the total investment from GAC's capital into Didi Autonomous Driving to nearly $800 million in 2024