China Post Securities: Maintains "buy" rating on BLACK SESAME (02533), focusing on two core scenes of auxiliary driving and intelligent body awareness.

China Post Securities released a research report stating that BLACK SESAME (02533) has reached a deep strategic cooperation with Zhongji Innolight, jointly promoting the innovative applications of optical communication modules in areas such as automotive assisted driving, and intelligent terminals (Siasun Robot&Automation), focusing on solving high-volume data transmission (such as multi-sensor data) and low-latency transmission requirements. The company maintains a "buy" rating. China Post Securities' main points are as follows: Introducing the SesameX multi-dimensional intelligent computing platform to help Siasun Robot&Automation transition from "operable" to "growthable" The global Siasun Robot&Automation industry is evolving towards complex tasks, and the traditional "module fragmentation, static deployment" architecture is unable to cope with the challenges of real environments. It requires a stable, scalable, and intelligent computing foundation. The company introduced the SesameX multi-dimensional intelligent computing platform, which includes three self-developed computing modules (Kalos, Aura, Liora) adapted to differing complexities of Siasun Robot&Automation. The platform integrates hardware components, is compatible with mainstream interfaces, and provides mass-produced hardware foundations; supporting standalone, clustering, and edge cloud collaboration. From an industry ecology perspective, the company reduces the system integration complexity for Siasun Robot&Automation manufacturers and algorithm partners through modular design and compatibility with mainstream interfaces; from a business value perspective, covering the full range of Siasun Robot&Automation needs from mobility to operation, from services to humanoid, providing end-to-end support from R&D to mass production, becoming a core partner for the commercial implementation of Siasun Robot&Automation. Currently, the company's strategic cooperation with Ningbo Joyson Electronic Corp. has expanded to the field of Siasun Robot&Automation, jointly researching, validating, and implementing a new generation of intelligent Siasun Robot&Automation control systems and industry solutions; and jointly exploring the deployment of intelligent Siasun Robot&Automation in the power industry with Hubei Central Electric Technology. Laying out "optoelectronic co-packaging," focusing on two core scenes of assisted driving and intelligent terminals The company has reached a deep strategic cooperation with Zhongji Innolight, a wholly-owned subsidiary of Zhongji Innolight, to jointly promote innovative applications of optical communication modules in the automotive (assisted driving) and intelligent terminal (Siasun Robot&Automation) fields, addressing the high data volume (such as multi-sensor data) and low-latency transmission requirements, improving the timeliness of equipment decision-making and response (such as real-time interaction of vehicle perception data in assisted driving, high-speed data exchange among multiple devices in Siasun Robot&Automation). In the intelligent automotive field, using the core base of the BLACK SESAME vehicle-grade assisted driving chip, combined with Zhongji Innolight's optical communication technology, developing a full-scenario assisted driving solution adapted for passenger and commercial vehicles, covering L2 to L4 levels of automatic driving demands, through the synergistic effect of "chip computing power + high-speed transmission of optical module," enhancing the processing and interaction efficiency of vehicle perception data (such as LiDAR, camera data); in the intelligent terminal field: combining the efficient computing power of the company's industrial Siasun Robot&Automation AI solution with the high-speed data transmission capability of Zhongji Innolight's optical communication module, developing AI industrial Siasun Robot&Automation solutions adapted for industrial scenarios, meeting the core requirements of precise control, real-time interaction, and multi-device collaboration in industrial Siasun Robot&Automation, breaking through technical barriers, promoting the intelligent upgrade of Siasun Robot&Automation in industrial production and smart manufacturing scenarios. Risk warning Risks of technology iteration and R&D investment falling short of expectations; risks of intensifying industry competition; risks of stability in customer cooperation; risks of lower-than-expected penetration rate of autonomous driving.