CITIC Securities: Looking ahead to the second half of 2026, all segments of the industry chain are expected to further advance technology R&D and product launches, and the automotive intelligence industry chain is poised to benefit.

CITIC Securities research report points out that, according to First Electric Vehicle Network data, in the first half of 2026 the penetration rate of urban NOA in China's passenger vehicle market has risen to 20.9%, driving high growth in shipments of products such as mid-to-high computing power intelligent driving chips, urban NOA software, LiDAR, and intelligent driving domain controllers, with related revenue at leading companies growing substantially. On the other hand, L4 autonomous driving commercialization is accelerating, and multiple companies have already realized economic benefits in benchmark projects and are committed to advancing asset-light commercialization models and global market expansion. Looking ahead to the second half of 2026, all segments of the industry chain are expected to further advance technology R&D and product launches, and the automotive intelligence industry chain is poised to benefit.