event:
1. At the "intelligent vehicle solutions ecological forum", Huawei proposed to adhere to the "platform + ecology" development strategy and help the development of domestic intelligent vehicles through three technology bases: intelligent vehicle digital platform idvp, intelligent driving computing platform MDC and intelligent cockpit operating system harmonyos. 57 enterprises including Huizhou Desay Sv Automotive Co.Ltd(002920) , Thunder Software Technology Co.Ltd(300496) were rated as excellent partners of Huawei's intelligent vehicle solutions.
2. On December 23, Huawei united with Thales, a vehicle enterprise, released the AITO question M5 of intelligent vehicle based on Hongmeng operating system. Huawei was deeply involved in software and hardware development, design, channels and other aspects. The car is equipped with Huawei driveone pure electric drive extended range platform and Hongmeng intelligent cockpit, and will be launched in Huawei's sales channel.
comment:
Long term investment in the field of intelligent driving and profound industry accumulation. Huawei has been deeply engaged in the research and development of intelligent vehicles for a long time. Since 14 years, it has established an Internet of vehicles laboratory, and gradually extended its technology from ICT to intelligent driving, electric system, intelligent cockpit and other aspects, striving to become an overall solution supplier of intelligent vehicles and help vehicle enterprises produce and build intelligent vehicles in all aspects. Huawei adheres to the development strategy of "platform + ecology" and builds a cooperation ecosystem around idvp, MDC and harmonyos. Idvp aims to build standardized software and hardware interfaces for intelligent vehicles and help vehicle enterprises quickly develop cross manufacturer and cross device automotive applications; Based on Hongmeng 1 + 8 + n IOT ecology, harmonyos realizes the use collaboration of Huawei products and reduces the development difficulty of intelligent cockpit; MDC aims to provide comprehensive and portable software development tools to help vehicle enterprises meet the core requirements of vehicle regulations and safety of intelligent driving applications, and accelerate the development of intelligent driving.
As a solution supplier, it needs specific models as a model to promote ecological development. Huawei is currently positioning itself as a solution provider for the intelligent automobile industry and hopes to use existing technology to provide auxiliary support to automobile enterprises. Prior to HUAWEI's hung Meng system and intelligent driving technology has been applied in Beiqi, Guangzhou automobile and Xiaosi Li Si and other car companies, but on the one hand, HUAWEI's high-powered autopilot system, Alfa S and SF5 sales are not as good as expected, which has limited promotional effect on HUAWEI intelligent vehicle. On the other hand, due to the prevention of potential competition of auto enterprises against giants, Huawei's intelligent vehicle technology has not been fully demonstrated. Therefore, Huawei needs a representative model with all-round in-depth participation as a model to show its strength in technology, marketing and channels, so as to attract more auto enterprises to join its own ecology.
Pure suppliers also have considerable profits. Huawei's ecological construction aims to achieve two-way mutual win-win. Referring to the development of Magna Steyr, an international automobile OEM giant, its product line covers automobile interior and exterior decoration, power, electronics, manufacturing, testing, etc. its supporting models cover almost all well-known automobile brands in the world. Some people call it "the world's largest automobile manufacturer without its own brand". Steyr did not produce cars on its own, on the one hand, because it costs a lot of money to rebuild an international brand and faces a lot of risks; On the other hand, OEM also has considerable profits. The establishment of its own brand will affect the development of its OEM and parts business due to competition. According to our previous research and judgment, Hongmeng system can generate revenue for Huawei mainly from driving hardware sales, channel fees, advertising and HMS ecology. Through cooperation with automobile enterprises, Huawei can avoid various risks that may be brought about by building its own automobile brand and have more opportunities for trial and error; On the other hand, it can accelerate and improve the construction of its own ecology, which can not only help car enterprises build, improve and upgrade their products, but also realize their all-round long-term revenue.
Investment suggestion: Hongmeng and even Huawei's smart car ecology is still in the initial stage of construction. We are optimistic about the ecological value brought by its promotion and application for a long time. However, at the current stage of technology introduction, its competition pattern and specific space are still not clear enough. The investment enlightenment of Hongmeng ecology at the current time point is mainly to provide incremental development space for enterprises with certain growth. We believe that Huawei's smart car ecological partners will benefit from its development. Therefore, we recommend to deeply participate in Huizhou Desay Sv Automotive Co.Ltd(002920) , Thunder Software Technology Co.Ltd(300496) of Hongmeng intelligent cabin construction. At the same time, we believe that Huawei's smart car ecological partners Autel Intelligent Technology Corp.Ltd(688208) , Navinfo Co.Ltd(002405) will also benefit from their development.
Risk tip: the sales volume of M5 in AITO is lower than expected, the ecological construction of Hongmeng is lower than expected, and the industry competition is intensified.
