HK Stock Market Move | Partial intelligent driving concept stocks opened high, the first batch of L3 level autonomous driving models approved for entry, and the industry turning point is expected to come faster.

Some smart driving concept stocks opened high, as of the time of publication, Zhejiang Shibao (01057) rose 7.94% to HK$4.35; NEXTEER (01316) rose 3.64% to HK$6.26; MINIEYE (02431) rose 2.99% to HK$10.32; HESAI-W (02525) rose 2.9% to HK$163.2; and BLACK SESAME (02533) rose 2.38% to HK$20.2. In terms of news, on December 15th, the Ministry of Industry and Information Technology officially announced the first batch of L3 level conditionally automated driving vehicle access permit list in China. Chongqing Changan Automobile and BAIC Jaeger have become the first batch of included car companies, and their approved vehicle models will carry out on-road trials in congested sections in Chongqing and designated highways in Beijing. This means that advanced smart driving is no longer limited to technical demonstrations, but has entered a new stage of delivery, operation, and supervision as required by regulations. It is worth mentioning that overseas, in the U.S., a Tesla Model Y Robotaxi running Unsupervised FSD has appeared on the streets of Austin. HAITONG INT'L believes that with the continuous volume verification of Tesla Robotaxi and the institutionalized implementation of Chinese L3 vehicle models, the inflection point of advanced automated driving industry is accelerating and will profoundly affect the valuation system and competitive landscape of the entire vehicle industry. Ping An Securities pointed out that the technological principle of L3 level conditionally automated driving is inseparable from mature and reliable environment perception capabilities, therefore, it needs to be equipped with a variety of sensors such as cameras, mm-wave radar, and LiDAR to achieve precise perception capabilities in extreme weather conditions and complex road conditions under the multi-sensor fusion mode.