Core view:
Release of guidelines for the construction of Internet of vehicles network security and data security standard system. Recently, the Ministry of industry and information technology issued the guidelines for the construction of Internet of vehicles network security and data security standard system, which proposed to focus on basic commonalities, terminal and facility network security, Internet communication security, data security, application service security, security guarantee and support and other standards. From the perspective of subdivided fields, data security standards involve a total of 18 detailed standards, of which up to 6 are being developed, and focus on key fields such as general specification for automobile data security, automobile user data protection and online car Hailing data protection.
With the implementation of the automobile data security policy stepping into the fast lane, the Navinfo Co.Ltd(002405) orders continue to be favorable, which also helps to enable the extension and expansion of high-precision maps, ADAS and other businesses and provide integrated services for OEMs.
The offline of Qualcomm ride platform is imminent, and the domain integration track is emerging. Qualcomm ride driving domain computing platform has won fixed points such as GM, great wall and BMW. Among them, great wall related models equipped with Qualcomm ride platform are expected to be mass-produced in 22q2. From the perspective of the planning of leading manufacturers such as Tesla and Qualcomm, the integration of cockpit domain + driving domain is emerging. Tesla is expected to launch mass production in 2022, equipped with HPC chips independently developed and designed. New forces including Xiaopeng automobile are also actively deploying highly integrated domain controllers, so as to realize the landing of a new generation of EE architecture (central controller + domain controller). It is noteworthy that according to the information disclosed in the investor research minutes released by Thunder Software Technology Co.Ltd(300496) release, the 8795 chip released by Qualcomm in the future will support domain integration.
Investment advice. We judge that the intelligent driving domain is in the stage of accelerating penetration, and we continue to be optimistic about Thunder Software Technology Co.Ltd(300496) (the ability of vehicle bottom software is outstanding, benefiting from the promotion of Qualcomm driving domain strategy, which is expected to open up the second growth curve of automobile business in the future), Huizhou Desay Sv Automotive Co.Ltd(002920) (fully benefiting from the mass production and implementation of NVIDIA driving domain chips), Navinfo Co.Ltd(002405) (the core participant of high-precision map industry, and the data compliance business is expected to accelerate the implementation), It is suggested to pay attention to longitude and latitude Hengrun, etc.
Risk warning. The impact of fluctuations in China’s auto sales on the business of relevant companies; The promotion and penetration of ADAS and other new products are less than expected; All kinds of non-traditional automobile industry chain manufacturers enter the market, and the industry competition intensifies; The progress of relevant laws and regulations is less than expected.
