--- title: "Guojin Securities: Three-frequency resonance boosts the unmanned logistics industry, the turning point for intelligent driving supply chain is approaching" type: "News" locale: "en" url: "https://longbridge.com/en/news/244637038.md" description: "Guojin Securities released a research report indicating that the resonance of policy, demand, and technology is driving the unmanned logistics industry to a commercialization turning point. The application of unmanned vehicles helps franchisees reduce costs, and it is expected that headquarters profits will be released. The report emphasizes that policy supports the development of unmanned logistics vehicles, the logistics industry urgently needs to reduce costs and increase efficiency, and the significant decrease in hardware costs provides a foundation for L4 mass production. It is optimistic about upstream industry chain companies such as intelligent driving chips and lidar" datetime: "2025-06-16T06:16:03.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/244637038.md) - [en](https://longbridge.com/en/news/244637038.md) - [zh-HK](https://longbridge.com/zh-HK/news/244637038.md) --- # Guojin Securities: Three-frequency resonance boosts the unmanned logistics industry, the turning point for intelligent driving supply chain is approaching According to the Zhitong Finance APP, Guojin Securities has released a research report stating that the commercialization of unmanned logistics vehicles is reaching a turning point driven by the resonance of policy, demand, and technology. The unmanned logistics vehicle industry chain is organized as follows: downstream - unmanned logistics vehicle operating companies, midstream - unmanned vehicle manufacturing companies, upstream - component and technology solution companies. Among them, the report is optimistic about the upstream industry chain focusing on intelligent driving chips, lidar, and domain controllers, with core attention on Horizon Robotics-W (09660), Hesai (HSAI.US), SOTERIA (02498), BLACK SESAME (02533), and leading companies in each track. ## The main viewpoints of Guojin Securities are as follows: **The resonance of policy, demand, and technology drives the turning point of the unmanned logistics industry** 1. Policy: Promoting the development of unmanned and intelligent logistics. National and local governments are accelerating the promotion of unmanned logistics and addressing the road rights issues of unmanned vehicles; in 2024, national-level policies will continue to support the development of unmanned logistics vehicles, with multiple departments collaborating to promote the pilot work of "vehicle-road-cloud integration" applications for intelligent connected vehicles, and many local governments have also introduced policies to support their application. 2. Cost: The logistics industry urgently needs unmanned logistics to reduce costs and increase efficiency. The core competitiveness of unmanned logistics vehicles lies in "reducing costs and increasing efficiency"; the unmanned logistics vehicle in Dingzhou can carry about 600 parcels per trip, making two round trips daily, with its operating and maintenance costs significantly lower than those of fuel vehicles, saving companies about 1,800 yuan per month. 3. Technology: The significant reduction in hardware costs is a key prerequisite for L4 mass production. The continuous decline in vehicle prices provides a hardware foundation for the commercial model to run smoothly. Currently, the price of unmanned logistics vehicles is showing a cliff-like downward trend, with a decline of over 80% from 2023 to 2025, directly promoting the smooth operation of the commercial model. **Unmanned logistics vehicle industry chain organization** Upstream mainly consists of component and technology solution companies: optimistic about intelligent driving chips, domain controllers, and lidar in three tracks. Intelligent driving chips: primarily focusing on Horizon Robotics, with attention on BLACK SESAME. The explosion of unmanned vehicles directly drives a surge in chip demand, with each vehicle requiring computing chips that meet the demand for hundreds of TOPS-level computing power. The popularization of visual perception technology routes accelerates the development of image processing chips, and chip manufacturers need to customize low-power, high-reliability solutions for unmanned vehicle scenarios. Lidar: primarily focusing on Hesai Technology. Most unmanned logistics vehicles adopt multi-sensor solutions, and Hesai Technology, as a leading lidar company, is expected to fully benefit from new application scenarios. Hesai's lidar deepens the empowerment of new stone-age unmanned vehicles for large-scale landing, with the Hesai XT lidar enhancing the unmanned driving perception system to a perception distance of 120m. In terms of domain controllers, the automatic driving algorithms and scenario landing experience of White Rhino deeply integrate with the mature and reliable vehicle-grade sensors and high-computing power intelligent driving domain controllers from Jingwei Hirain, creating highly reliable and safe vehicle-grade unmanned vehicle products; IMOTIONTECH recently received platform-specific letters for a total of 9 commercial logistics vehicles from a leading independent brand. **Midstream unmanned vehicle manufacturing mainly includes: Jiushi Intelligent, New Stone Age, White Rhino** Jiushi Intelligent has built a smart city distribution logistics network covering express delivery, fresh supermarkets, and pharmaceutical cold chains. It has established a "stereo 3D perception + flat-top intelligent kit" integration solution in China, with the E6 model's bare vehicle price at 19,800 yuan, promoting the development of city distribution autonomous driving New Stone Age: The X series has entered fields such as logistics distribution and park retail. It has accumulated over 85 city road rights licenses and delivered nearly 3,000 vehicles. White Rhino: Focuses on instant delivery for supermarkets, store inventory sharing, courier network connections, one-on-one urgent delivery, and cold chain transportation. **Unmanned Logistics Vehicle Operation** Several listed express logistics companies have laid out unmanned logistics vehicles to promote cost reduction and efficiency improvement. The application of unmanned vehicles helps franchisees reduce costs, and headquarters profits are expected to be released. Franchise express companies adopt a "direct transfer, franchise outlets" model, with unmanned logistics vehicles mainly used in the last-mile delivery segment, which can replace driver functions and do not require fuel costs, helping to reduce franchisee operating costs. **Risk Warning** Regulatory progress is slower than expected, unmanned logistics vehicles may not reach L4 level as anticipated, technology iteration risks, system reliability risks, and intensified industry competition ### Related Stocks - [02533.HK](https://longbridge.com/en/quote/02533.HK.md) - [01274.HK](https://longbridge.com/en/quote/01274.HK.md) - [HSAI.US](https://longbridge.com/en/quote/HSAI.US.md) - [688326.CN](https://longbridge.com/en/quote/688326.CN.md) - [02498.HK](https://longbridge.com/en/quote/02498.HK.md) - [600109.CN](https://longbridge.com/en/quote/600109.CN.md) ## Related News & Research - [Hesai sustains profitability as LiDAR shipments surge and secures Mercedes order](https://longbridge.com/en/news/286887280.md) - [Elevator mechanics can make over $150,000, and this CEO says they can't hire them fast enough](https://longbridge.com/en/news/286668283.md) - [05:20 ETThrough the America's Most Artistic Kid Competition, Colossal Raises $1.6 Million While Celebrating the Next Gen of Creative Visionaries](https://longbridge.com/en/news/287037755.md) - [This New Solar Battery Stores Energy Without Lithium or the Grid](https://longbridge.com/en/news/287211325.md) - [Strix Discloses Trust-Led Share Tender by Non-Executive Director](https://longbridge.com/en/news/286884952.md)