MINIEYE (02431) receives long-term optimistic view from cornerstone investors, Kang Chengheng International will not reduce holdings after unlocking.

On June 27, 2025, MINIEYE (02431), a leading Chinese provider of intelligent assisted driving and intelligent cockpit solutions, will see the end of its first lock-up period after going public. As the market closely monitors the actions of shareholders, MINIEYE announced on the 25th that it had received a "Commitment Letter" from cornerstone investor Kang Chengheng International Investment Co., Ltd. (hereinafter referred to as "Kang Chengheng International"). With an attitude of "no reduction within 3 months, not more than 10% reduction within 9 months," they are conveying their strategic determination as long-term investors. Double commitment to demonstrate long-term holding determination In the "Commitment Letter," Kang Chengheng International clearly expressed confidence in MINIEYE's long-term development and stated that they will not rush to reduce their shares after the lock-up period ends. The commitment includes two points: first, within 3 months after the original lock-up period expires, they will not reduce any shares in any way; second, within 9 months after the original lock-up period expires, they will not reduce their shares by more than 10% through direct or indirect on-market transactions. The dual commitment of "time + proportion" is different from the common unlocking and reduction behavior in the market. According to the announcement, Kang Chengheng International stated: "We highly recognize the technical strength, business capability, team spirit, and long-term prospects of our group in the industry." In a key turning point for the smart assisted driving industry from technological breakthrough to large-scale implementation, Kang Chengheng International believes that the industrial value of truly disruptive technology requires time to settle, and continuous support is the core driving force for technology innovation companies to achieve value leapfrogging. As patient capital, they will firmly hold onto companies like MINIEYE, which combine deep technological expertise with broad industry capabilities. The "Commitment Letter" before the end of the lock-up period further demonstrates the long-term holding determination of the cornerstone investor in MINIEYE. Kang Chengheng International values the company's research and development capabilities and business layout, rather than short-term financial returns. With a consensus on long-termism, both parties will join hands to explore broader horizons in the future of mobility. Boosting market confidence, growth is promising As the first stock of "cockpit and driving integration," MINIEYE's solid technological foundation is an important basis for Kang Chengheng International's firm holding. The company has been deeply involved in the field of smart assisted driving and intelligent cockpit for many years, gradually building up L1-L4 comprehensive autonomous driving capabilities. Its solutions are widely used in mass-produced models of 35 mainstream car manufacturers such as Chery, Chang'an, SAIC, and Volkswagen. At the technical implementation level, MINIEYE launched the Memory Driving Solution at the 2025 Shanghai International Auto Show. Based on BEV+MapTR+ spatiotemporal joint planning algorithms, the system can achieve point-to-point navigation assistance after learning trajectories. According to MINIEYE's latest financial report, revenue reached 654 million yuan in 2024, a year-on-year increase of 37.4%. Of this, revenue from intelligent driving solutions was 484 million yuan, a year-on-year increase of 25.2%, accounting for 73.9% of revenue and providing strong momentum for the company's rapid performance growth. In addition, revenue from intelligent cockpit solutions reached 104 million yuan, a year-on-year increase of 467.8%. The healthy and stable financial performance provides solid support for the company's stock price. Since the beginning of the year, MINIEYE's stock price has risen by over 50%, and its market value has exceeded 11 billion yuan. It is worth mentioning that MINIEYE's growth potential is continuously recognized by the capital market. Recently, CITIC Securities, EB SECURITIES, and Guoce Securities have all released research reports and given ratings such as "better than the market," "hold," and "buy." Guoce International analysis pointed out that YOUDRIVE continues to deepen its automatic driving field, making it one of the few companies in China that can independently develop a full-stack automatic driving solution. Considering its excellent product lineup and customer matrix, it is expected to show strong performance resilience in the future. In addition, CITIC Securities also mentioned in its research report that MINIEYE will achieve rapid growth with its large customer base and rich product line, with a projected compound annual growth rate of total revenue from fiscal year 2024 to 2027 reaching 49%, with a target price of 32.00 Hong Kong dollars. According to the latest report by McKinsey, the global smart driving market size will exceed 600 billion US dollars by 2027, China's L2-level smart driving new car coverage rate has exceeded 57%, coupled with the continuous enhancement of policy support for smart connected vehicles on the policy side, the smart driving track shows the characteristics of "long slope, deep snow" development. With the first-mover advantage of technological innovation, industrial ecology, and commercialization capabilities, as well as the long-term value recognition from cornerstone investors and domestic and foreign investment banks, the future growth potential of MINIEYE is promising.