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Securities Times reporter Liu Junling

Since July, the concept of driverless driving has continued to gain popularity, with many concept stocks rising significantly. King Long Motor has topped the list with a cumulative increase of 72.52%, followed by Tianmai Technology, Ankai Bus, and StarNet Yunda, all with increases of more than 30%.

King Long's stock price has been fluctuating since July 10, rising for three consecutive weeks. According to the company's regular reports, King Long has independently developed key application-layer technologies for autonomous driving systems, including planning and control, perception fusion, high-precision maps, system integration, and vehicle-road collaboration. In addition, the company has developed a HIL simulation platform for autonomous driving systems that can simulate various test scenarios and evaluate the performance and safety of autonomous driving systems.

Among the unmanned driving concept stocks that have risen this month, StarNet Yuda has received the most daily limit, with a total of 5 daily limits. The company stated on the investor question and answer platform that in terms of complete vehicles, the company can provide technical support for unmanned autonomous driving in the directions of navigation, measurement and control, and can also realize functions such as path planning, automatic tracking, and self-map building, which are suitable for structured and unstructured roads. In terms of devices, the company's satellite communications, inertial navigation, optoelectronic pods, radars, etc. are all key technologies for unmanned autonomous driving, and have continued to provide component-level support for different manufacturers.

In the news, driverless cars have been put into use in many places recently. According to the Luoyang Postal Administration, on July 17, the driverless express delivery vehicle in Luoyang City was put into trial operation in Yichuan County. During the trial operation, it will deliver to five stations and make three trips a day.

On the same day, Hainan's first airport open road autonomous driving demonstration project was launched, which is also Hainan's first airport autonomous driving technology to be implemented. Shenzhen, Jinan, Mianyang and other places are also piloting driverless bus projects.

In recent years, favorable policies for driverless cars have been issued frequently. In July last year, the "Guidelines for the Construction of the National Internet of Vehicles Industry Standard System (Intelligent Connected Vehicles) (2023 Edition)" emphasized that by 2025, a system of intelligent connected vehicle standards will be formed that can support the combined driving assistance and general functions of autonomous driving, and by 2030, a comprehensive intelligent connected vehicle standard system will be formed that can support the coordinated development of single-vehicle intelligence and network empowerment.

In early June, the Ministry of Industry and Information Technology’s website released a notice titled “Four departments orderly carry out pilot projects for the access and road use of intelligent connected vehicles”, announcing the first batch of nine intelligent connected vehicle access and road use pilot consortia, including BYD, NIO, Changan Automobile, GAC Passenger Vehicle, SAIC Group, BAIC Blue Valley, FAW Group, SAIC Hongyan and Yutong Bus, covering three categories: passenger cars, buses and trucks.

Huaxi Securities believes that since 2018, the country has successively issued a number of policies to coordinate the development of the vehicle-road collaborative industry and strengthen top-level collaboration. The city-level pilot of "vehicle-road-cloud integration" will deeply empower the development and application of intelligent connected vehicle technology, and is expected to give birth to new business models and create new economic growth points. The recent accelerated implementation of commercial scenarios, road testing and system construction across the country will promote the continuous optimization and maturity of autonomous driving technology.

The unmanned driving industry is accelerating its implementation, and the performance of related concept stocks has also increased significantly. According to statistics from Securities Times Databao, 40 unmanned driving concept stocks have released their first half performance forecasts or performance reports, of which 5 are expected to turn losses into profits, 20 are expected to increase net profits, and 1 is expected to reduce losses. The overall good news ratio has reached 65%.

Will Semiconductor and Soling Semiconductor are expected to have the highest growth rates, with the median year-on-year growth in net profit exceeding 700%. Will Semiconductor's performance forecast shows that it is expected to achieve a net profit attributable to the parent company of 1.308 billion yuan to 1.408 billion yuan, an increase of 754.11% to 819.42% year-on-year. In the first half of the year, with the company's product introduction in the high-end smartphone market and the continued penetration of autonomous driving applications in the automotive market, the company's operating income has achieved significant growth.

Among the concept stocks expected to turn losses into profits, Seres predicts that it will achieve a net profit attributable to its parent company of 1.39 billion to 1.7 billion yuan, turning losses into profits year-on-year. The company previously stated on the investor question-and-answer platform that all models of the Wenjie series can realize functions such as urban intelligent driving navigation assistance and valet parking assistance without relying on high-precision maps.

Institutions are generally optimistic about the performance of driverless concept stocks. According to the consensus forecast of 5 or more institutions, the net profit of 42 concept stocks is expected to increase in 2024. Among them, 8 stocks including Quectel Communications, Will Semiconductor, and Shenglu Communications are expected to increase their net profit by more than 100%.