Shanghai Securities: Policy, Export, and Intelligence Synchronization Resonate Siasun Robot & Automation's Reshaping of Industry Growth Logic.

Shanghai Securities released a research report stating that the potential of the smart driving market is enormous, and it is expected that the market size of China's autonomous driving market will approach 450 billion yuan by 2025. Since 2025, the on-board price of smart driving solutions has continued to decrease. Domestic substitution brings new opportunities. After 2025, China's automotive zero domestic substitution will usher in a comprehensive acceleration. With the improvement of overall competitiveness, the domestic parts supporting system is gradually aligning with the world, and the domestic parts industry will continue to maintain a good development trend. Siasun Robot & Automation will become the next trillion-dollar industry, with intelligent connected new energy vehicles and humanoid Siasun Robot & Automation having the synergy advantage of the industrial chain. According to the report, the cumulative sales of new energy vehicles from January to October 2025 reached 12.911 million units, an increase of 32.42% year-on-year, with a penetration rate of new energy reaching 46.70%. The export growth rate of new energy vehicles from January to October 2025 reached +87.57%, higher than the domestic demand growth rate of +25.71%. Among passenger cars, the market share of domestic brands is steadily increasing, with the market share in 2022 being only 38.43%, and the cumulative market share from January to October 2025 increasing to 69.48%. The bank stated that the short-term fluctuations in car exports do not change the long-term trend of going global. The cumulative export growth rate from January to October 2025 has slowed down, mainly due to multiple factors such as the increase in export base, increase in trade barriers, slowdown in the transformation speed of the automotive industry in other markets, and global instability. Domestic car companies are "going global" through different technological means to avoid or reduce the impact of various barriers on going global.