The company is a full stack automatic driving head enterprise. Mushroom car Union Information Technology Co., Ltd. (hereinafter referred to as "the company"), founded in 2017, is a leading automatic driving full stack technology and operation service provider in China. The company has a self-developed "vehicle road cloud integration" automatic driving scheme, has the operation ability of large-scale urban automatic driving public service fleet, has implemented China's first open 5g commercial intelligent transportation vehicle road coordination project, has created China's first urban automatic driving landing project (Hengyang, Hunan), and has become China's first automatic driving enterprise exclusively serving world-class comprehensive sports events. The company has realized L4 level automatic driving on buses, shuttle cars, taxis, sweepers, patrol cars, tractors and other models, and has been applied to urban open roads, parks, scenic spots, ports, airports and other scenes. At present, the cumulative contract amount of the company's automatic driving project has reached billions of yuan, which has been implemented in Beijing, Jiangsu, Hunan, Henan, Sichuan and Yunnan. Whether from the perspective of valuation or third-party ranking, the company is the leading enterprise in the field of automatic driving in China. At the strategic level, the company fully considers the characteristics of the industry, keenly captures the direction of national policies, and makes a forward-looking layout in terms of capital structure, data security, technical route, business model and ecological construction. It is a rare pure domestic funded enterprise among China's automatic driving head companies.
Technology first, the company first mentioned "vehicle road cloud integration". The company is the first company in the industry to choose the technical route of "single vehicle intelligence + vehicle road coordination". On the basis of "single vehicle intelligence + vehicle road coordination", it is the first to create the vehicle road cloud integration technology scheme. The vehicle road cloud integration scheme is to effectively integrate the roadside and cloud based on the single vehicle intelligence, carry out integrated perception, decision-making and control, realize the dynamic real-time full coverage of road traffic elements, and provide system level safety guarantee for automatic driving. At present, the vehicle road cloud integration technology scheme proposed by the company has been widely recognized by the industry and has become an important development direction supported by the government. We believe that the important development direction in the field of automatic driving in the future is to take "single vehicle intelligence + vehicle road coordination" as the technical route and take the urban scene as the entry point for landing. The company is an important target perfectly in line with this development direction
The company took the lead in implementing large-scale projects in the field of urban automatic driving. In October 2019, the company launched China's first open 5g commercial vehicle road cloud integration demonstration project in Shunyi, Beijing; In 2020, the company reached cooperation with Suzhou high-speed railway new town to further lock in the urban scene; In March 2021, the company reached a cooperation with Hengyang municipal government of Hunan Province to launch China's first urban level automatic driving project, which integrates new urban transportation infrastructure, automatic driving operation services and Urban Intelligent Transportation brain. The project amount is about 500 million yuan. Under the demonstration effect of the leading projects, the company actively developed its business. In September 2021, the company signed a cooperation agreement with Hebi City, Henan Province to accelerate the construction of intelligent transportation, with a project amount of about 300 million yuan; In January 2022, the company signed a cooperation agreement with Dali Municipal People's government to build the first ecological demonstration area of "intelligent Internet connection + smart tourism" in Southwest China, with a project amount of 1 billion yuan. At present, the company has accumulated the richest automatic driving operation scenarios in the industry, and has one of the most complete automatic driving fleets in China.
The company already has outstanding first mover advantages, and the first mover barriers are rising. Through a large number of actual operation projects, the company has accumulated a strong and experienced operation team, and has the operation and service ability of large-scale urban automatic driving fleet. It has become the only automatic driving head company in the industry with full stack technology and operation talent system at the same time. The operation of the company has a lot of operation experience in cooperation with the government and user service, and can deeply understand the needs of users, which is beyond the reach of many bicycle intelligent companies. The threshold of cooperation with the government is relatively higher, which brings greater first mover advantage to the company. At the same time, the company took the lead in realizing the large-scale landing of urban open roads, so it has a large amount of complex and real actual road data accumulation. The auto driving data set is trained at the three ends of vehicle, road and cloud at the same time. With the increase of access vehicles, the system continues to accumulate a large amount of data to feed back, accelerate the iteration speed of the algorithm, further improve the ability of the three ends of vehicle, road and cloud, and will take the lead in realizing the "snowball" effect in the industry. There are great barriers to urban public resources, and the company has taken the lead and is still expanding. When it occupies enough cities, large-scale automatic driving operators are born. From the perspective of industrial chain, the company has formed a core technology ecosystem connecting the upstream and downstream of the industrial chain, and has established good and effective cooperation with Byd Company Limited(002594) , great wall, Dongfeng, Chang'an, GAC and other vehicle enterprises, China Telecom Corporation Limited(601728) , Datang Gaohong and other industrial chain partners to form a strong ecosystem. At the same time, the company cooperated deeply with CSCEC, Beikong and Beihuan to form a package solution for the landing of autonomous cities, and finally realized the high-speed, steady landing and commercial operation of the "vehicle road cloud integration" system. As a service provider with a large number of actual landing projects and covering all application scenarios, the company has actually become a benchmark in the industry. Due to a large number of successful project experience and the current focus on the company as a benchmark, only in terms of scale, the company is expected to take the lead in forming the scale effect of automatic driving landing, which will eventually lead to the dilution and reduction of technology R & D costs, and the reduction of costs is expected to further promote the landing of the company's projects, thus forming a virtuous circle.
On the whole, digital transportation is an important field in the development of digital economy. The intelligent vehicle road cloud supports the large-scale commercialization of full-automatic driving and serves the vision of urban digital transportation in the future. Taking "single vehicle intelligence + vehicle road coordination" as the technical route and taking the urban scene as the landing entry point, the leading enterprise is expected to become a leader in the field of automatic driving, while mushroom car union perfectly meets this requirement. At the same time, with the progressiveness of the company's technology, the depth of its accumulation and the current benchmarking and demonstration effect in the industry, we believe that the company is expected to become a leader in the field of automatic driving in China in the near future, deeply integrate into the wave of digital traffic construction, and help the development of China's digital economy in the new era
Risk tip: sudden changes in the external environment or the overall development of the automatic driving industry is blocked, resulting in the risk that the company's marketization speed is lower than expected.
