Concept tracking of Hong Kong stocks | The era of smart driving is coming, and the combination of driving assistance systems will welcome national standards (with concept stocks)

On September 17, the Ministry of Industry and Information Technology publicly released the mandatory national standard for the "Safety Requirements for Intelligent Connected Vehicles Combination Driving Assistance Systems" and solicited opinions from the public. The draft released this time established the safety baseline for intelligent connected vehicle products, requiring systems to only be activated under their design operating conditions. For different functions such as single-lane, multi-lane, and convoy assistance, comprehensive safety technical requirements were set for human-machine interaction, functional safety and expected functional safety, information security, data recording, etc., to construct a "triple safety guarantee." Liu Fawang, Deputy Director of the Equipment Industry Development Center of the Ministry of Industry and Information Technology, stated that the combination driving assistance system is different from an autonomous driving system. The draft of this mandatory national standard soliciting opinions closely integrates international regulations with the complex scenarios in China, fully considering different product forms and technological paths. It explicitly requires drivers to undergo training before using the system, strengthens system operation data recording, further preventing misuse and abuse of functions, which is a key step in supporting the standardized development of the industry. The significance of the release of this standard is substantial, as it will directly drive technological iteration and acceleration of high-level intelligent driving implementation, making it smoother for vehicles to go overseas once the standard is in place. Additionally, it sets standards for the industry, fills the gaps in safety standards, restructures industry competition rules, clarifies responsibility boundaries, resolves systemic risks in the industry, and provides safety guarantees for consumers. In recent years, with the rapid advancement of technology and the continuous reduction in hardware and software costs, the adoption rate of intelligent driving assistance functions has been increasing. Data released by the China Association of Automobile Manufacturers shows that from January to June 2025, the installation rate of Level 2 and above assisted driving functions in new energy passenger vehicles reached 82.6%, further increasing the adoption rate in the market below 160,000 RMB. From January to July this year, the sales of new passenger vehicles in China equipped with combination driving assistance systems reached 7.7599 million units, an increase of 21.31% year-on-year, and the penetration rate reached 62.58%. The large-scale application of combination driving assistance systems has injected new momentum into the industry's development, but there are also issues such as the lack of a unified baseline for product performance. Experts believe that the standard will impose higher requirements on driving safety for intelligent connected vehicles and are planning to formally release it next year. Looking ahead, ABC Securities believes that the current period until next year is a window for the simultaneous breakthrough of automotive high-level intelligent driving technology maturity, policies and regulations, user acceptance, and business models. It is recommended to focus on automotive intelligence, especially with suppliers who master core hardware and software technologies and can provide system-level solutions with full lifecycle services, seizing a dominant position in the development of automotive intelligence. Sealand released a research report stating that the top manufacturers' driving assistance solutions are gradually improving. With the trend of accumulating AI capabilities, there is high continuous investment in big computing chips and model development. In terms of operational effectiveness, car manufacturers are no longer monopolizing the development of the entire stack of driving assistance systems but are initiating various strategic collaborations to further popularize intelligent penetration rates, such as collaborations with solution providers and overseas car manufacturers. The supply chain landscape is emerging, with domestic suppliers of products such as LiDAR, cameras, millimeter-wave radars, domain controllers, and driving assistance chips further enhancing their industry influence through software and hardware integrated solutions, achieving cross-domain comprehensive capabilities improvement. Related concept stocks: Horizon Robotics (09660): The company occupies a leading position in the high-level driving assistance solution market and is one of the few suppliers that can provide both chips and algorithms. In terms of hardware, it has introduced J6P and HorizonCell, which can provide 1120 TOPS computing power, solidifying its position in China's top tier of computing power and catching up with NVIDIA at an accelerated pace. In terms of solutions, it has launched the urban NOA smart driving solution, which can further improve solution performance through software and hardware integration. The company has rich customer resources and production experience, with products deployed in models such as Ideal L6Pro, NIO Firefly, Chery iCARV23, and has entered customer accounts such as BYD, Chery, and Bosch. Black Sesame Technologies (02533): In the field of autonomous driving, the company's Huashan series A1000Pro chip provides a computing power of 106 TOPS, with excellent performance. The company has launched the A2000 chip to further enrich its product matrix. It has collaborated with major car OEMs such as Geely and has been deployed in models such as Galaxy E8 and Lynk 07. In the cross-domain computing field, the company has launched the industry's first cross-domain computing chip, Wudang C1200, with the potential for FAW Red Flag to build a single-chip intelligent vehicle control platform based on C1200, helping to increase the company's revenue. RoboSense (02498): RoboSense's high-line LiDAR products have been the first to be mass-produced and installed in vehicles. Recently, the new generation of super SUV "Zhiyi LS6" released by Zhiyi and the ultra-luxury SUV "Jike 9X" released by Jike both are equipped with RoboSense's 520-line digital LiDAR. Currently, RoboSense is the only mass-produced manufacturer of 520-line digital LiDAR, maintaining a leading position in the field. MINIEYE (02431): This year, MINIEYE has secured multiple projects with its intelligent driving assistance and intelligent cabin business. For the mid-to-high-level driving assistance project, it has launched the mid-to-high-level driving assistance domain controller iPilot 4 plus; for higher-level autonomous driving, the MINIEYE L4 autonomous driving solution iRobo has been commercially deployed in a manned minibus form in various scenarios nationwide. On July 9th, MINIEYE announced the completion of the placement of 6.8 million new H shares, with net proceeds of HK$155 million, for further investment in mid-to-high-level driving assistance and L4 autonomous driving.