金吾财讯 | 中信证券表示，随着比亚迪高阶智驾方案超预期下沉，该行测算2025年比亚迪高速NOA车型销量达近300万辆，城区NOA车型销量达到46万辆，分别对应渗透率为60%/9%，合计高阶智能驾驶车型销量预计346万辆，渗透率69%，较2024年7.2%大幅增长。此外，该行认为，端侧AI是2025年投资核心主线，其中以比亚迪为核心的汽车智能化升级是重要方向。从入门级辅助驾驶到高阶智能驾驶，该行认为硬件端核心增量在于主芯片/域控、摄像头、激光雷达、连接器等环节。其中分领域看，第一梯队：上游具备潜在供需紧张带来价格波动、同时中长期产品有升级逻辑的芯片及配套环节。第二梯队：零部件中具备量增逻辑，供应相对集中的镜头模组、激光雷达环节。第三梯队：零部件中具备量增逻辑，并且份额有望提升的连接器环节。第四梯队：车载通用元器件、PCB等环节。
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.