Core Insights - The A-share market saw a significant rise in autonomous driving concept stocks, driven by Nvidia's announcement of its first open-source inference VLA (Vision-Language-Action) model, Alpamayo 1, which aims to accelerate the development of safe autonomous driving technology [1] Group 1: Stock Performance - Yachuang Electronics surged over 11.24%, with a total market value of 7.39 billion [2] - Suotai Co. increased by 10.06%, reaching a market capitalization of 6.33 billion [2] - Zhejiang Seabow and Hezhong Shizhuang both rose by 10%, with market values of 19.7 billion and 9.936 billion respectively [2] - Yanshan Technology, Leike Defense, and Galaxy Electronics all saw gains close to 10%, with market values of 48.7 billion, 20 billion, and 8.831 billion respectively [2] - Beidou Xingtong and Haon Electric both increased by over 6%, with market values of 28.8 billion and 15.3 billion respectively [2] - Wanjitech rose by 5.45%, with a market value of 7.053 billion [2] Group 2: Technological Advancements - Nvidia's Alpamayo 1 model utilizes a 10 billion parameter architecture to generate trajectories and reasoning processes from video inputs, enabling vehicles to "reason" in complex driving scenarios [1] - The model addresses the challenging "long tail effect" in autonomous driving, allowing vehicles to think through solutions in unexpected situations [1] - The first vehicle equipped with this technology is expected to be on the road in the United States in the first quarter [1]

Group 1 - The A-share market saw a collective surge in autonomous driving concept stocks, with Yachuang Electronics rising over 11% and several other companies hitting the 10% daily limit increase [1][2] - Notable performers included Suofei Co. with a 10.06% increase, Zhejiang Seabow at 10.01%, and Hezhong Shizhuang at 10% [2] - The total market capitalization of Yachuang Electronics reached 7.39 billion, while other companies like Zhejiang Seabow and Hezhong Shizhuang had market caps of 19.7 billion and 9.936 billion respectively [2] Group 2 - Nvidia made a significant advancement in the autonomous driving sector by announcing the open-source release of its first inference VLA (Vision-Language-Action) model, Alpamayo 1, aimed at accelerating the development of safe autonomous driving technology [1][3] - The Alpamayo 1 model features a 10 billion parameter architecture that processes video input to generate trajectories and reasoning processes, addressing complex driving scenarios [3] - The model aims to tackle the challenging "long tail effect" in autonomous driving, enabling vehicles to "think" and find solutions in unexpected situations, with the first vehicle equipped with this technology expected to hit the roads in the U.S. in the first quarter [3]

Core Viewpoint - The company, Haon Auto Electric (301488), has a diverse range of products in the intelligent driving sector, indicating a strong focus on advanced automotive technologies [1] Product Offerings - The company’s product lineup includes ultrasonic radar systems, millimeter-wave radar systems, in-car monitoring systems, integrated parking systems, front-view active safety systems, domain controllers, intelligent parking systems, intelligent vision systems, visual sensor systems, and electronic rearview mirror systems [1]

Group 1 - The company confirmed that the mass production and delivery schedule for its intelligent driving products, which are supplied to new energy vehicle manufacturers, is proceeding as planned [2] - The company has also stated that its perception system products in the robotics field have already entered mass production and delivery [2]

Trading Information Summary - On December 31, 2025, Haon Automotive Electronics (301488) closed at 153.05 yuan, down 5.75%, with a turnover rate of 14.06%, trading volume of 32,900 lots, and a transaction amount of 514 million yuan [1]. - On the same day, the net outflow of main funds was 70.53 million yuan, accounting for 13.72% of the total transaction amount; retail funds had a net inflow of 44.55 million yuan, accounting for 8.67% [1][3]. Company Announcement Summary - Guosen Securities conducted a continuous supervision inspection of Haon Automotive Electronics from January 1 to December 31, 2025, with the inspection results indicating that the company is generally compliant in governance, internal control, information disclosure, and use of raised funds. However, the equipment purchase cost for the R&D center exceeded the planned investment and was not adjusted in a timely manner, which was corrected in October 2025. The sponsor has urged the company to standardize operations [1]. - On December 22, 2025, Guosen Securities provided continuous supervision training for the board, senior management, and securities department personnel of Haon Automotive Electronics, focusing on the regulatory rules for raised funds and case sharing. This training aimed to enhance compliance awareness regarding the use of raised funds, contributing to improved management standards [1].

Group 1 - The stock price of Haon Automotive Electronics (301488) closed at 153.05 yuan on December 31, 2025, down 4.94% from 161.0 yuan the previous week [1] - The highest intraday price on December 30 was 163.96 yuan, while the lowest was 151.71 yuan [1] - The current total market capitalization of Haon Automotive Electronics is 14.081 billion yuan, ranking 49th out of 236 in the automotive parts sector and 1381st out of 5181 in the A-share market [1] Group 2 - Guosen Securities conducted an on-site inspection for Haon Automotive Electronics for the year 2025, which showed compliance in governance, internal control, information disclosure, and use of raised funds [2] - The inspection took place from January 1 to December 31, 2025, with the results reported on December 22, 2025 [2] - The company exceeded the planned investment for the R&D center equipment purchase, which was corrected in October 2025 [3] - Guosen Securities provided training on fundraising regulatory rules to the company's board, senior management, and securities department personnel on December 22, 2025 [2][3]

国信证券股份有限公司 关于深圳市豪恩汽车电子装备股份有限公司 2025 年度持续督导现场检查报告 | 保荐人名称：国信证券股份有限公司 被保荐公司简称：豪恩汽电 | | | | | --- | --- | --- | --- | | 保荐代表人姓名：夏涛 联系电话：0755-28032222 | | | | | 保荐代表人姓名：付爱春 联系电话：0755-28032222 | | | | | 现场检查人员姓名：夏涛、付爱春、张子成 | | | | | 现场检查对应期间：2025 年 1 月 1 日至 年 12 月 日 | 31 | | 2025 | | 现场检查时间：2025 年 12 月 22 日 | | | | | 一、现场检查事项 现场检查意见 | | | | | （一）公司治理 否 不适用 | | 是 | | | 现场检查手段： | | | | | 对公司的董事长陈清锋、总经理罗小平、财务负责人肖文龙、董事会秘书李小娟等 | | | | | 高级管理人员就公司的内部治理情况进行访谈，查阅了公司重大规章制度的制定情 | | | | | 况，查阅了工商登记调档资料、公司的三会资料、总经理办公会会议资料、列 ...

国信证券股份有限公司 关于深圳市豪恩汽车电子装备股份有限公司 2025 年度持续督导培训情况的报告 深圳市豪恩汽车电子装备股份有限公司（以下简称"豪恩汽电"或"公司"） 首次公开发行股票并于 2023 年 7 月 4 日在深圳证券交易所上市。国信证券股份 有限公司（以下简称"保荐人"、"保荐机构"或"国信证券"）作为本次发行的 保荐机构，指定夏涛、付爱春担任保荐代表人，持续督导的期间为 2023 年 7 月 4 日至 2026 年 12 月 31 日。根据《深圳证券交易所上市公司自律监管指引第 13 号——保荐业务》《深圳证券交易所上市公司自律监管指引第 2 号——创业板上 市公司规范运作》等有关规定，国信证券持续督导小组于 2025 年 12 月 22 日对 公司的董事、高级管理人员和证券部人员等相关人员进行了一次培训，现将相关 情况报告如下： （以下无正文） （本页无正文，为《国信证券股份有限公司关于深圳市豪恩汽车电子装备股份有 限公司 2025 年度持续督导培训情况的报告》的签章页） 一、培训基本情况 1、培训时间：2025 年 12 月 22 日 2、授课人员：持续督导人员夏涛、付爱春 3、参加培训人 ...

Core Viewpoint - The Nvidia concept sector experienced a decline, with a drop of 1.27% in overall performance [1] Group 1: Company Performance - Haowen Automotive Electric fell by 3.23% [1] - Jingwang Electronics decreased by 3.12% [1] - Yingweike dropped by 2.61% [1] - Dalian Technology and Shenghong Technology both saw declines exceeding 3% [1]

Group 1 - The lidar sector experienced a decline of 1.64% [1] - Dongtian Micro fell by 5.24% [1] - Tengjing Technology decreased by 5.13% [1] - Haon Automotive Electric dropped by 4.92% [1] - Wanlong Optoelectronics, Shijia Photonics, and Saiwei Electronics all fell by over 3% [1]