Huawei held the “smart car solution ecological forum” this week and released the new AITO (asked) M5
1. On December 21, Huawei held the “2021 Huawei intelligent vehicle solutions ecological forum” in the form of live broadcast. The company will develop automobile business around three platforms: idvp, MDC and harmony OS intelligent cockpit. 1) Idvp platform is committed to providing underlying software elements, including computing and communication architecture CCA, on-board operating system, multi domain collaborative software framework has core and perfect tool chain, Among the listed companies, Verdi Technology ( Byd Company Limited(002594) ) and Contemporary Amperex Technology Co.Limited(300750) are their excellent partners; 2) MDC is an intelligent driving computing platform, which fully covers chip, sensor, actuator and algorithm application services. At present, 20 million + annotation data sets and 200000 + scene libraries have been opened to developers, and the on-board debugging can be completed in one month. Among the listed companies, China Beijing Certificate Authority Co.Ltd(300579) and Shangtang technology (Hong Kong stock IPO application has been submitted) and others are excellent partners in this field; 3) harmony OS is an intelligent cockpit ecosystem. At present, Huawei has opened 1517 on-board business APIs and more than 13000 harmony OS APIs on harmony OS operating system, and has established cooperation with more than 150 software and hardware partners. Among the listed companies, Fuyao Glass Industry Group Co.Ltd(600660) , Huizhou Desay Sv Automotive Co.Ltd(002920) , Thunder Software Technology Co.Ltd(300496) , Ningbo Joyson Electronic Corp(600699) , Suzhou Sonavox Electronics Co.Ltd(688533) , Jiangsu Changshu Automotive Trim Group Co.Ltd(603035) , Zhejiang Shibao Company Limited(002703) and other companies are excellent partners.
2. On December 23, Huawei released the first SUV M5 of auto brand AITO (asked) at the winter new product launch. The M5 is built based on Chongqing Sokon Industry Group Stock Co.Ltd(601127) Thalis sF5 (similar in size and performance), and the main upgrade point is to carry Hongmeng cockpit (fully adapted to harmony OS application, equipped with Huawei audio system, etc.), the starting prices of two-wheel drive / four-wheel drive are respectively 250000 / 280000, which is significantly higher than the price of sF5 of 220000 / 250000. We believe that AITO M5 plays a major role as a solution display platform in Huawei’s cockpit field. For the further implementation of Huawei’s comprehensive solutions, we can pay attention to BAIC Jihu hi Version (expected to be delivered in 1q22), and AITO / Thalis new SUV (2q22 mass production at the earliest), avita 11 (3q22 mass production is expected).
Auto market: in the first three weeks of December, the year-on-year decline of batch and zero narrowed, and improved synchronously month on month
According to the data of the passenger car Federation, the year-on-year decrease of passenger car wholesale / retail in the first three weeks of December (from January to 19) was – 2% / – 10% respectively, which was narrower than that in the first three weeks of November (the year-on-year decrease of batch / zero in the same period in November was – 16% / – 18%); the month-on-month increase trend was + 23% + 23% respectively. The passenger car Federation showed that the terminal inventory was low and the promotion of manufacturers was tightened in recent months, and the retail recovery speed was still affected.
Investment suggestion: we believe that the retail volume of passenger cars is affected by the lack of inventory depth in the short term. With the replenishment of inventory, the growth center of the wholesale end of the car market is expected to remain at 10% this year and next. 1. It is recommended to pay attention to Chongqing Changan Automobile Company Limited(000625) , Byd Company Limited(002594) , Great Wall Motor Company Limited(601633) of the upward cycle of the product and Saic Motor Corporation Limited(600104) with large replenishment space. 2. Suppliers of automotive electronics related parts are expected to achieve domestic substitution and price volume increase in the acceleration of the industry. It is recommended to pay attention to: Bethel Automotive Safety Systems Co.Ltd(603596) (EPB + wire controlled braking), Ningbo Tuopu Group Co.Ltd(601689) , Keboda Technology Co.Ltd(603786) (light control), Changzhou Xingyu Automotive Lighting Systems Co.Ltd(601799) (intelligent lamp), Huizhou Desay Sv Automotive Co.Ltd(002920) (Intelligent cabin system), Anhui Zhongding Sealing Parts Co.Ltd(000887) (air suspension), etc.
Risk tip: the mitigation progress of core shortage in the automobile industry is less than expected, the recovery of industry demand is less than expected, the process of automobile intelligent industry is less than expected, and the development of new energy automobile industry is less than expected.
