车路云深度报告：政策频出助力发展提速，车路云产业空间广阔

Core Viewpoints - The report highlights the rapid development of the "Vehicle-Road-Cloud Integration" system in China, which leverages advanced information and communication technologies to integrate humans, vehicles, roads, and cloud systems This system aims to enhance the safety, efficiency, and comfort of intelligent connected vehicles and transportation systems [1][9] - China's infrastructure advantages, such as its extensive 5G network, IoT, and smart transportation systems, along with the world's largest highway network, position the country to lead in the development of vehicle-road-cloud integration [1][36] - The report emphasizes that vehicle-road-cloud integration is a strategic solution for China's smart transportation, addressing the limitations of single-vehicle intelligence and reducing the complexity and cost of autonomous driving [1][9][33] Vehicle-Road-Cloud Integration: China's Smart Transportation Solution - Vehicle-road-cloud integration enables data interconnection between humans, vehicles, roads, and cloud systems, creating a unified information-physical system that enhances traffic safety, efficiency, and comfort [1][9] - The system consists of vehicles, roadside infrastructure, cloud control platforms, and communication networks, which work together to collect, process, and share real-time traffic data [24][25][26] - Traditional advanced driver-assistance systems (ADAS) have limitations, especially for higher levels of autonomous driving (L3 and above), where AI-based algorithms are needed to handle complex urban environments [29][33] - Vehicle-road-cloud integration addresses the limitations of single-vehicle intelligence by enabling real-time information exchange through V2V, V2I, V2N, and V2P communications, reducing blind spots and improving safety [33] Policy Support and Industry Development - China has introduced multiple policies to support the development of intelligent connected vehicles, with vehicle-road-cloud integration being a key strategic focus [2][37] - As of June 2024, China has established 17 national intelligent connected vehicle test zones, 7 vehicle networking pilot zones, and 16 "dual-intelligence" pilot cities, with over 32,000 kilometers of open test roads and more than 8,700 roadside units (RSUs) deployed [2][61] - The industry is expected to grow rapidly, with the total output value of the vehicle-road-cloud integration industry projected to reach 7295 billion yuan by 2025 and 25825 billion yuan by 2030, with a CAGR of 288% from 2026 to 2030 [18][64] Investment Recommendations - The report recommends focusing on companies such as Wanji Technology, Qianfang Technology, and Tongxingbao, which are actively involved in the development of vehicle-road-cloud integration technologies [4][67][70][90] - Wanji Technology is investing in vehicle-road-cloud integration, developing technologies such as vehicle-mounted LiDAR, V2X communication terminals, and intelligent roadside perception systems [87] - Qianfang Technology is a leading provider of digital solutions for the transportation industry, leveraging AI and IoT to enhance traffic management and safety [90] - Tongxingbao is the exclusive ETC service provider in Jiangsu Province, offering smart transportation platform solutions and leveraging its data capabilities to support the development of intelligent transportation systems [93]